All posts in Business Processes


How Process Control Can Cut Costs & Eliminate Errors

process control

I don’t want to alarm you, but without process control, you’d be dead.

What? How? Why? …What?!

Your body is continuously performing a series of processes to keep you alive and it’s constantly checking for irregularities in these processes. If it picks up an abnormality, it immediately takes measures to regulate it, and return it to its desired state. Like when you’re too hot, for example. Your body recognizes that your temperature is above normal and produces water, in the form of sweat, to cool you down.

So you see, process control is the reason you’re alive and able to enjoy this Process Street post!

But this isn’t a lesson in biology (thankfully); the same concept can be applied to organizations too.

With adequate process control, businesses can perform efficiently, effectively, and safely. They can function at a consistent level and can even reduce operating costs by up to 6%. Without it, they would miss opportunities, make costly mistakes, and struggle to survive.

Process control is the ability to monitor and adjust a process to give a desired output.” – Beck Electric Actuators, What is Process Control?

To discover how process control can cut costs and eliminate errors within your organization, we need to find answers to the following questions:

To satisfy your curiosity (and return your body back to its normal state!), you’d better keep reading…
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Become a Lean Machine With These Top 8 Lean Tools (Free Templates)

Become a Lean Machine With These Top 8 Lean Tools (Free Templates)-17

Studies show that moving towards a leaner business model can improve productivity by up to 25%, increase stock turnover by 33%, and increase on-time delivery by 26%.

The recognized benefits of being lean are only accumulating, with more and more studies advocating lean approaches in business for both economical and sustainable success.

However, some companies choose not to embrace lean philosophy through fear that the costs related outweigh the benefits gained. With this, we at Process Street have come to help.

You see, this fear has oozed from imperfect implementation and a misunderstanding. With the right lean tools and techniques, lean thinking can easily and successfully be applied.

In this article, we present you with our top 8 lean tools to assist you in implementing lean philosophy for your business or line of work. By using these tools, you will see a transformation, with maximal value and minimal waste.

Along with these tools, we grant you access to our template resources, which you can hop in and use right away for free.

Click on the relevant subheaders below to read the section of choice, alternatively scroll down for all I have to say.

Keen to become lean? Let’s jump in!
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How to Radically Improve Your Sales With a Sales Process Template

sales process template

Etymologically-speaking, the word “template” has an interesting history. Our modern usage of it is linked to the Proto-Indo-European word “tempos”, which means “to stretch”. Specifically, though, it refers to time and the stretching of it.

As time-bound human beings, making use of templates allows us to have more time each day. By completing recurring processes and actions far faster overall whether they’re marketing processes or sales processes, we’re able to, in a way, cheat time itself.

For sales teams, templates are a necessity for both cheating time and doing great work, repeatedly.

Seeing as 20% of sales staff turnover happens within the first 45 days, there needs to be a thorough, documented template for how to onboard staff properly. Similarly, for the sales process itself, there needs to be a sales process template (or better yet, templates).

With such playbooks at hand, it could help your team become high performers by a whopping 33%!

That’s why, in this Process Street post, I’ll discuss what a sales process template is, provide you with a stellar sales process template, and tell you how you can use more or even build your own templates from scratch.

Just read through the following sections:

Or, if you can’t wait and want to start using the aforementioned stellar sales process template, here’s our MEDDIC Sales Process Checklist Template:

Click here to get the MEDDIC Sales Process Checklist Template!

Carry on reading to find out how to cheat time further. ⏳

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Cut Costs and Improve Productivity With Our Free Strategic Planning Template

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In the book The Balanced Scorecard, by David Norton and Robert Kaplan, it is noted that 90% of organizations fail to execute their pre-set strategy.

This is a concerning statistic when you consider that, for a majority of companies considered successful, an emphasis is placed on having formal and pre-established systems to inform, manage, and meet their strategic obligations.

In this sense, can we not infer executing business strategy = business success?

To bridge this gap between strategic ambition and business performance, Process Street has created a Strategic Planning Template, which you can use – for free – right away!

By executing the steps given in this template you will not only develop good strategy, but the delivery of this strategy will also prove successful.

Click here to access our free Strategic Planning Template!

But to accommodate this template, you need to have a solid understanding of strategic planning itself.

In this article, I’ll discuss what strategic planning is, the different strategic planning models – with an emphasis on the Cascade Strategic Planning Model -, why strategic planning is important, and more.

Click on the links below to read through:

Let’s jump straight to it!
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Digital Marketing Hacks For a Successful Product Launch

successful product launch tips

This is a guest post from Dave Schneider, a serial entrepreneur & co-founder of shortlist.io, a marketing “un-agency” that serves as an outsourced dedicated marketing team. He has also co-founded Less.churn, a churn reduction app, prior to selling it in 2018. Dave loves to travel the world, and has visited over 65 countries. In his spare time, he writes about SaaS and business at DaveSchneider.me.

The vast majority of product launches fail.

According to a study done by the University of Toronto, the failure rate for new products in the retail grocery industry is 70-80%. And, the situation across all sectors is even more dia, Harvard professor Clayton Christensen estimates that the fail rate of new products across all boards is around 95%.

Evidently, coming up with an innovative and awe-inspiring product you think people will love is simply not enough. In order to mitigate failure, you will need to prioritize and optimize how you market your product.

Fortunately, this Process Street article is here to provide you with all the tools and digital hacks you will need to successfully market and launch your product.

Feel free to jump to a specific section of this post by clicking on the relevant subheader below. If not, just keep on scrolling.

Read on for a rundown of product launch basics.
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MEDDIC: How to Get Higher Close Rates and Masterfully Qualify Leads (Free Template!)

MEDDIC

From sales prospecting to cold calling and emailing, and qualifying leads to closing the sale, it’s a well-known fact that sales reps have their work cut out.

But did you know that, according to research by The Bridge Group, 1/3rd of salespeople fail to meet their sales quotas? Not just from time-to-time either, but on a permanent basis.

As somebody who’s at the helm of your sales team, it’s your duty to supply your colleagues with the right systems, processes, and tools. You must make sure your team succeeds.

For sales success – specifically, qualifying leads for the sales pipeline properly, getting higher close rates, meeting quotas, and dramatically boosting your bottom-line – use the MEDDIC methodology and process.

Never heard of MEDDIC before?

No sweat.

Read through the following sections in this Process Street post to get clued up:

Or, if you wanted to make use of our MEDDIC Sales Process Checklist Template straight away, grab it here:

Click here to get the MEDDIC Sales Process Checklist Template!

Let’s dive on in. 📈

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How to Implement a Powerful Procurement Process Like a Pro (Free Templates!)

procurement process

If there’s one thing the COVID-19 pandemic has taught the world of business (apart from that remote work is the future), it’s this: We aren’t prepared for disruption.

Supply chains, in particular, suffered a massive shockwave, with supermarkets, shops, and services being unable to operate the way they did before the virus struck. In fact, more than 3,000 suppliers in China were driven to force majeure declarations in the first few months alone.

As the world moves toward a new normal, you’ll be thinking about disruption and risk a lot more than you had done previously.

For businesses using suppliers, it’s necessary – now more so than ever – to establish a stellar procurement process to ensure goods and/or services can always be secured, no matter if micro (small, every day) and macro (large, extraordinary) disruptions happen.

That’s why, in this post, I’ll be discussing what the procurement process is, the benefits a documented and solid process brings, what the flow of a robust procurement process looks like, and how Process Street can help.

Read through the below sections to get up-to-date:

Or, if you just wanted to get your hands on a procurement process that you can default to in every day and extraordinary situations alike, grab it here:

Click here to get the Procurement Process Checklist Template!

Ready to become a pro at the procurement process? 📦
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How to Start an Online Boutique With 9 Free Process Checklists

how-to-start-an-online-boutiqueWhen was the last time you actively went shopping? More to the point, when was the last time you bought something without checking it out online first?

Exactly.

Welcome to the retail apocalypse.

Or, in less dramatic terms, the demise of brick-and-mortar shops as the world shifts to buying online.

Where opportunities lie, entrepreneurs will pounce. That’s why at least part of ecommerce’s success can be attributed to people quickly learning how to start an online boutique, grocery delivery service, and so on.

Let’s take a look at some figures.

Evidently, it is true. The retail apocalypse is upon us. Fortunately, we at Process Street are here to provide you with the tools to build your doomsday bunker. We have created 9 superpowered checklists that will ensure that you are equipped and ready to ride the wave of retail Armageddon.

If you’re just here for a checklist to use when learning how to start an online boutique, check out our free Business Plan checklist below!

Feel free to jump to a specific section of this post by clicking on the relevant subheader below. Or, just keep on scrolling.

Alternatively, if you are already clued up on online boutiques and are ready to get stuck in, sign in to Process Street and start creating within Process Street.

(Sign up for a free trial here, if you’re not yet a Process Street user)

The links below will direct you to the section of this post that contains your desired checklist:

Now, it’s time to start building your doomsday bunker.

Let’s get started!
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Prevent Project Failure with this Free Statement of Work Template (SoW)

SoW

I once lost $45,000.

What makes it worse (or perhaps better?!) is that it wasn’t my money.

It was my previous employer’s.

I was managing a website build for a big client and was under huge pressure to meet a tight deadline. So, as many do, I decided to start the project before the Statement of Work (SoW) was signed by the client.

This was a big, expensive, mistake to make.

It cost an additional $45,000 to re-work parts of the build that the client had verbally approved, but hadn’t legally signed off.

Ouch.

(Despite what you might think, this isn’t the reason I don’t work there anymore!)

According to research, 37% of projects fail due to a lack of defined and approved project goals and objectives, which come with a Statement of Work (SoW). This causes around 80% of organizations to spend at least half their time on expensive rework.

Not using a Statement of Work – SOW during the project initiation is a major cause of project failure” – 4PM, Statement of Work – SOW

But what is a Statement of Work (SoW) and how do you create one?

All will be revealed in this Process Street post, as we go through:

If you’re in a hurry, grab this free Statement of Work Process Template now, and catch up with the rest of the post when you can:

Click here to access the Statement of Work (SoW) Process Template!

Otherwise, keep reading and we’ll go through this template, in a little more detail, later.

Let’s get into it!

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Beat Bottlenecks, Remove Redundancies & Cut Costs with Process Analysis

process analysis
Want to lose weight? Shape up? Get fitter? Gain muscle?

If you do, I have one thing to say to you:

If you always do what you’ve always done, you’ll always get what you’ve always got” – Henry Ford

To get better, improve, and achieve your goals, something needs to change.

But this concept doesn’t only apply to people who want to lose weight, get fit, or become stronger.

It applies to businesses too; to keep improving, businesses need to keep changing.

Businesses can typically find between 50 to 75 improvement opportunities when they go through process analysis. This can result in anywhere from a 10% to an 80% reduction in costs.

Aha! Thought that might get your attention! Interested in finding out more?

This is what you’ll learn by reading this Process Street post on process analysis:

Ready to take the first step towards new and improved processes?

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