This is a guest post by Victor Eduoh, a SaaS content strategy consultant and copywriter. He helps early- and growth-stage SaaS companies drive growth, using the SaaS content topic clusters strategy and Product-Led Storytelling, two concepts he developed.
Governed by a philosophy of rationality the Age of Enlightenment (also known as the Age of Reason) made decisions based upon a single source of power or primary source of knowledge. The source of truth and knowledge in this instance was determined by the senses.
Single Source of Truth or SSOT, the focus of this Process Street blog post, also takes the sovereign approach.
However, rather than the senses, the sovereign power for SSOT is a reliance on un-replicated, autonomous, self-contained, and enhanced data.
To find out more about SSOT and how it can enlighten your data processes, keep reading.
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It was 1980 and the U.S. had crowned Donald Trump as a hero of business, turning real estate into gold. Trump had a net worth of $1.5 billion. However, a lack of corporate strategy was about to shake-up the Trump empire.
In 1988, Trump paid £365 million for the Eastern Air Shuttle. During the airline’s reign, its identity was passed from a no-fuss service to a one with maple-wood veneers and gold-plated features. A poorly strategized gamble that confused the brand’s identity. The lack of strategic direction meant Trump no longer held the Trump card, and his net worth plummeted along with the airline.
Worryingly, Trump’s failure to meet his organization’s objectives is a common occurrence in business, with only 2% of leaders stating they feel they will achieve 80-100% of their pre-set strategic objectives.
This post will teach you what corporate strategy is, why it is important, and how you can implement an effective strategy for your business today – with access to our top free template resources. Check out our Strategic Planning Template below for a quick taster.
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This is a guest post from Alissa Zucker, marketing manager and writer at Mcessay. You can find her reading classical philosophy and writing short fiction in her spare time.
It’s predicted that by the end of 2020, businesses will have spent ~$110 billion on digital advertising alone in the US. To put that into context, that’s more money spent on digital advertising than what would be spent on both television and print ads combined.
This just goes to show the importance of digital advertising in the modern marketing communication mix.
It is essential that every business know how to effectively market their products and services in order to not only survive, but to grow and prosper in a competitive global market.
It’s not uncommon when questioned about marketing, that a business owner will simply produce a business card, a brochure stitched together using a Microsoft Office template, or a barely functional website with little to no traffic.
In this Process Street post, I want to provide you with an overview of everything you need to know about the marketing communication mix, including:
What does a Formula 1 racing team, like Ferrari, have in common with a high-flying company, like Apple?
They’re both in highly competitive industries? They’re both focused on improving their performance? They’re both incredibly driven to succeed? They’re both intent on being the best in the world?
Yes, yes, yes, and yes.
In other words, they both strive, in everything they do, to achieve Operational Excellence (Op Ex). However, achieving Operational Excellence is far from easy, and (fortunately for Apple and Ferrari) only 36% of companies manage it.
So, buckle up and join this Process Street post, as we race through the following topics and learn, from the likes of Ferrari, Apple, Disney, and Google, how to become operationally excellent:
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.
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.
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.
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After the Second World War, Japan was faced with tremendous infrastructural damage and needed to begin the long, difficult process of repairing pretty much everything. During this time, Allied forces occupied Japan and oversaw the process of reparation – many American experts were enlisted to aid in the efforts to rebuild Japan’s economy and infrastructure, while at the same time ensuring no military force was re-established.
Among those enlisted was W. Edwards Deming (of the Deming Cycle and PDCA fame). One of the early goals was to begin production of new radios; the problem was, new management was unskilled, production facilities and raw materials were in short supply, and quality management was a big issue.
Long story short, Deming helped to spearhead the establishment of quality control initiatives focusing on top-level management taking responsibility for clearly defining quality policy and procedures. This kind of quality control framework came to be known as Hoshin Kanri, and it eventually proliferated beyond Japan and over to America and the rest of the globe.
A 2020 report by the IPMA Organisational Competence Baseline (IPMA OCB) explained that to execute business vision, mission, and strategy, implementation of the Hoshin Kanri approach – also referred to as Hoshin planning – is vital for lean and strategic management, and for future-proofing a business.
Product roadmaps are an essential part of understanding how to align your product to a long-term vision for product-market fit. They are also one of the key deliverables for product managers and are useful to almost all teams and stakeholders.
What the product roadmap should provide:
Clear overview of key launch dates and milestones
Clearly communicate which teams are responsible for what
Clearly communicate important deadlines and time allocation
A beacon to align different teams to core company goals and objectives
What the roadmap shouldn’t include:
Goals and objectives unrelated to the product
Overload of information about specific product features and specifications for development
Too much data without clear association with company goals or objectives