All posts in Business


22 Business Mistakes You Have No Excuse for Making

Business Mistakes

Starting and running a business is hard enough without making the same business mistakes as everyone else.

After all, managing a team and keeping the business on track is hard enough without having to worry about running yourself into the ground through hiring too quickly, targeting a bad niche, or just plain overspending until the bank cracks.

That’s why we here at Process Street have scoured the advice of experts such as Paul Graham, Joel Gascoigne, and Sam Altman to highlight the business mistakes you should avoid, and how to do that without tearing your hair out.

Let’s get stuck in!

Continue Reading

What is Predictive Analytics? When AI, Blockchain, and Business Processes Collide

Predictive analytics: a term you may be familiar with if you have even the smallest window into the recent developments in enterprise technology. There is very real hype buzzing around terms that tech startups love to plaster all over their marketing campaigns, such as “artificial intelligence”, “deep learning”, and “blockchain” – but what does it all mean?

Continue Reading

How to Write Your Company Mission Statement: 200 Top Examples Analyzed

Do you recognize this mission statement?

To organize the world’s information and make it universally accessible and useful.

That’s Google‘s. What about this one?

To accelerate the advent of sustainable transport by bringing compelling mass market electric cars to market as soon as possible.

Of course, it’s Tesla.

And finally, how about this?

It’s our responsibility to simplify cutting-edge products and continue to progressively promote and future-proof manufactured solutions, all while striving for technical leadership.

I made that one up! Awful, isn’t it? But the thing is, it almost sounds feasible.

Company mission statements can act as strong guidelines that help promote an attitude and culture that works towards your company’s goals. Or, they can mean so little that you might as well have generated them using a joke tool like this.

So, what goes into a great mission statement?

Continue Reading

How Uber’s Onboarding Process Beat Taxis on Customer Satisfaction

uber onboardingUber currently has drivers operating in 633 cities worldwide. From nowhere they have stormed the market and disrupted taxi services globally.

Uber is one of the biggest successes of the sharing economy.

But what is it about Uber that allows for it to dominate the market?

There is of course the convenience of ordering through the app and all the benefits of the product but, as reported in The Richest, one big plus point is the drivers themselves. Consumers prefer them to taxi drivers.

Partly this is down to having an internal rating system to incentivize drivers to provide high quality services. However, to keep standards high Uber qualifies and onboards drivers to prepare them for their task of protecting the Uber brand.

In this Process Street article we’ll look at how Uber does this. We’ll investigate:

  • The importance of effective onboarding
  • How Uber enters a new market
  • The Uber driver application process
  • How Uber onboards new drivers

Continue Reading

Brand Audit: How to Help Win Over 91% of Your Target Audience

Brand Audit

Branding is a fickle thing.

Even the most consistent brand images can be shaken by a few high profile missteps, but when used correctly it can be a powerful tool for making your product or services instantly recognizable and attractive to your target audience.

To do this, you need to have a regular process for a performing a brand audit.

This will let you build a specific perception of your brand, such as one of an authentic, reliable company. This can have massive benefits too; the Authentic Brands study of 2014 by Cohn and Wolfe surveyed opinions of 12,000 people over 12 markets. They found that brand honesty (along with not letting customers down) was most highly valued with 91% saying it was important in their view of brands.

That’s why this post will take you through what a brand audit is, the elements of audience brand perception, how to measure what they think of you, and how to help shape the brand image that you want to give.

Let’s get started!

Continue Reading

Genchi Genbutsu: The Problem Solving Concept Which Drives Toyota Forward

genchi genbutsuIt’s one thing to identify errors or weaknesses in your business, but it’s another to actually fix and improve them.

The crucial step in fixing an error is deciding the right solution to implement. Pick the wrong one and you create a different problem.

When you’re in a massive company, you want to make sure you’re picking the right solution before you start implementing across a whole corporate structure.

Because of this, investigating the problem as thoroughly as possible should be paramount. And this leads us to Genchi Genbutsu; part of the Toyota Production System conceptual toolkit.

In this Process Street article we’re going to look at:

  • What is Genchi Genbutsu?
  • How Toyota revitalized their minivan thanks to a road trip
  • 3 academic approaches to guide your investigation

Continue Reading

3 Enterprise Automation Examples: Achieving End-To-End Efficiency

automation examples

Research indicates that inefficient workflows can cost up to 30% of your total revenue every year. That’s a third of your enterprise’s earning being wasted on everything from a single missed email to a stock of excess inventory.

Imagine what you could do with that money. You could hire new employees to scale your business even further. Department budgets could be expanded to allow better equipment to be used.

All of this and more can be achieved with business process automation.

To demonstrate, let’s go over three core automation examples for processes which often include many of those typical inefficiencies, such as:

All of these processes will be given in full, and by the end of this post you’ll know how to eliminate inefficiency by using basic, process, integration, and robotic automation.

It’s time to take back that 30% of your revenue.

Continue Reading

Enterprise Automation: How to Make 100 Employees Feel Like 1,000

enterprise automation

About half of all the activities people are paid to do in the world’s workforce could potentially be automated” – McKinsey Global Institute, Harnessing automation for a future that works

For many, enterprise automation is a complex and scary topic. Many team leaders believe that it takes too much work to set up your automated systems, and a huge number of people are worried that doing so will let robots take over their jobs.

It’s not true.

Those who understand automation for what it is – a powerful tool which lets your team massively increase their value output – quickly find themselves ahead of the curve. Using it lets you quickly and accurately hand off all of your menial tasks so that everyone can focus on more important items.

Here at Process Street, we know how difficult it can be to get started with enterprise automation. That’s why this post will take you through:

  • What automation is
  • What types of business process automation there are
  • Why you should be using it in your enterprise
  • Methods to let you get started with automation

It’s not complex, it’s not scary, and it certainly won’t be putting your team out of a job. If anything, automation is entirely designed around letting people perform their jobs better than ever before.

It’s time to join the newest revolution in enterprise efficiency and accuracy.

Continue Reading

How Does a Franchise Work? Uncover The Secret Sauce of an American Franchise Giant

how does a franchise work headerThe franchise model of doing business is a decidedly American affair.

The concept marries the power and scale efficiencies of large corporate bodies with the entrepreneurialism and hard work of mom-and-pop small business.

According to the United States International Trade Association:

there are over 780,000 franchise businesses that directly employ over 8.8 million people and account for over $890 billion in direct economic output.

The franchise model is one of the powerhouses of the US economy and features countless household names – McDonald’s being one of its truly global successes.

In this Process Street article, we’ll look at:

  • What a franchise is, and the costs associated with starting one
  • What the 2016 film The Founder tells us about the origin story of McDonald’s
  • The role the Founding Fathers played in the history of franchises
  • What systems McDonald’s used to propel their franchised successes

Continue Reading

9 Lean Manufacturing Principles to Kill the Jargon and Get Quality Results

lean manufacturing principles

If the following benefits sound like something you’d like for your business, you need to use lean manufacturing principles:

  • 80%+ waste reduction
  • 50% lower production costs
  • 80-90% reduction in standing inventory
  • 90% lower cost of quality (it’s 90% cheaper to make quality products)
  • 50% increased labor productivity

Lean is a system, method, school of thought, and even a way of life, all focused on reducing waste. Although it’s usually applied to manufacturing (hence “lean manufacturing principles”), the methods to achieve it can be used to reduce waste while maintaining high quality no matter what operation you’re running.

The key is knowing what each principle involves and how to use it, which is exactly what we’re going to cover today!

Keep reading to get the full rundown on the following lean principles (with two techniques for good measure):

  • Eliminate waste
  • Kaizen (continuous improvement)
  • Respect human elements
  • Heijunka (level production)
  • JIT (Just In Time) production
  • One piece flow
  • Quality built-in
  • Poka-Yoke (mistake proofing)
  • Jidoka (detecting defects through automation)

Continue Reading

Get a free Process Street account
and take control of your workflows today.

No Credit Card Required