All posts in Business Strategy


How To Reduce Defects in Business by 20% Using the Juran Trilogy

juran trilogy

Joseph Juran, the Architect of Quality, paved the way for the active pursuit of quality in Business.

The Juran Trilogy redefined quality management; reducing chronic defects and the costs associated below a 20% industry expectation.

The Juran Trilogy has been shown to give benefits across multiple parameters, increasing productivity, reducing cycle-times, improving human safety, and reducing product failure rates – with a 80% reduction in some cases.

For us as Process Street, the Juran Trilogy is one of our favorite tools for improving business operations. It’s a straightforward methodology that brings results.

Learn how to apply the Juran Trilogy for your business, and improve the quality of operations. Click on the relevant subheader below to jump to your section of choice, alternatively scroll down to read all we have to say:

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Lean Canvas: How To Create a Business Plan that People Will Actually Read

lean canvas

Everybody has a plan until they get punched in the mouth…
Mike Tyson

Which, let’s face it, happens to most start-ups and entrepreneurs. Around 75% in fact.

You have the best idea. You spend days, weeks, and months perfecting a 40-page business plan filled with five-year forecasts, 18-month roadmaps, and in-depth marketing strategies. You confidently pitch it to stakeholders and investors.

And then?

Then you get punched in the mouth.

Potential investors go quiet or “haven’t had time to read it” and you’re left with an expensive, wasted deliverable and a chunk of time that you’ll never get back. Worse still, your product isn’t any nearer launching and you haven’t secured any buy-in or investment.

What. A. Waste. Of. Time.

Traditional business plans are of little use to start-ups, and of no real interest to investors.

But what’s the alternative?

A one-page business plan inspired by Eric Ries’s Lean Start-Up methodology and specifically designed for emerging entrepreneurs: The Lean Canvas.

The Lean Canvas is a living framework that allows you to quickly capture your idea or concept, thoroughly validate it, and then continuously share, improve, and most importantly move on it.

Ok, I know what you’re thinking:

I have the answers to all these questions and more in this Process Street post.

Ready to dodge some punches?
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How to Build a Successful Go-to-Market Strategy

go-to-market strategy

A go-to-market (GTM) strategy is the way in which a company brings a product or service to market.

No matter how good your idea is, you need a go-to-market strategy.

Why?

Because statistically speaking, your business is more likely to fail than succeed.

In fact, if you’re a startup, your chance of failure is a dreary 90%. That’s not to say that your idea isn’t a brilliant one, or that you haven’t got what it takes to bring it to market.

Startups fail for different reasons. Perhaps the market is already awash with companies offering the same solution as yours, or the market isn’t mature enough to welcome your product. Or, maybe the cost of developing and launching your product is so steep that it’s unprofitable.

If successful, a go-to-market strategy will be your salvation and prevent you from failure. The question is, how do you develop a winning strategy? Which factors should you consider?

I asked our VP of Marketing Bryan Sise these very questions. Through the course of his career at companies like Twilio, SendGrid, Twitter, Dynamic Signal, and now Process Street, Bryan has noticed what contributes to GTM success.

In this post I’ll share with you what he has to say. I’ll cover what a go-to-market strategy is, types of go-to-market strategies, the key steps to building a successful go-to-market strategy, and what GTM strategies we use here at Process Street.

Let’s get strategizing. 🚀
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Improve Business Operations With Economies of Scope

Improve Business Operations With Economies of Scope

The other day, my household experienced one of the great tragedies of the home delivery era: our grocery delivery was canceled.

You know what that means. I had to go to the grocery store. Like, physically, in person, go inside the grocery store.

I survived, but phew. Let’s just say there were a few close calls.

All in all, though, it was a successful trip. I picked up a couple of prescriptions, had an eye exam, switched the pet insurance, got some advice about first-time homeownership, and even remembered to get dinner fixins. I would’ve gotten my oil changed and tires rotated, too, but I don’t have a car so… Yeah. I didn’t do that.

This is what economies of scope look like. Economies of scope are when it’s more cost-effective to produce related items together than it is to produce them individually. In the 21st century economy, it’s also an increasingly familiar model as brands continue to expand their offerings to consumers.

As a consumer, this model is great. We don’t have to run around all over the place to take care of all our responsibilities. For companies, it’s not a bad model, either.

Economies of scope – offering all of these services under one roof – companies are actually spending less by offering more.

But wait – how does that work?

Well, I’ll tell you:

Welcome to Process Street! 👋 Right this way, please.
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How We Smash Tough Goals and Objectives With OKRs (& How You Can, Too!)

goals and objectives

We’re an ambitious bunch here at Process Street.

In terms of numbers, we’ve published over 1,000 onsite blog posts, over 300 offsite blog posts, penned 5 huge ebooks, attended many an external webinar, and created many a podcast, too. And this is only our content marketing team’s efforts. If I were to discuss the phenomenal accomplishments of our other departments — from engineering to sales, product to customer success — we’d be here all day.

Despite our company-wide accomplishments, we knew in 2020 that we could push ourselves further (especially considering our $12m cash injection from Accel, Salesforce, and others). Naturally, we turned the ambitious goals and objectives we’d set ourselves up a notch.

This meant that, rather than only working with KPIs, we threw OKRs into the mix as well.

Not to toot our own horn too much, but I can say with confidence that the choice to do so went in our favor. In fact, we’ve had some of the best months ever since deploying OKRs!

This is why, in this post, I’m going to tell you everything that we learned from internally deploying OKRs at Process Street. Specifically, I’ll give you a quick recap on what OKRs are, go over our method for implementing OKRs in detail, recount my experience of getting used to (and then loving) OKRs, on top of providing 5 tried-and-tested tips for deploying OKRs at your company.

Just read the following sections to get completely clued-up:

It’s time for you to pivot to OKRs and hit challenging targets like a pro, too.

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How to Reduce Customer Attrition During a Crisis

How to Reduce Customer Attrition During a Crisis

This is a guest post by Brayn Wills, the current Knowledge Management Specialist at ProProfs knowledge base. He is responsible for creating unique and relevant content on the knowledge base and keeping track of the latest developments in the realm of knowledge management. In his free time, he is either reading a new book or exploring offbeat destinations.

When a crisis strikes, it brings along daunting challenges that require businesses to reevaluate their strategies. One such significant challenge is customer churn. It can impact a business drastically if left unchecked.

Statistics show that, on average, most companies experience a monthly churn rate of 7.5%. If left unchecked, this can be catastrophic for a company’s bottom line.

A rapidly shrinking customer base means reduced profits that can have a severe impact on an organization, especially during a crisis. What’s more, crisis situations tend to exacerbate the root causes of churn, meaning businesses need to be extra responsive and attentive to their customers during these times.

While you cannot prevent all customers from leaving your company, you certainly can take concrete steps to keep customer churn in control.

In this post for Process Street, I will cover:

Read on to uncover the pragmatic ways to reduce customer churn during a crisis by understanding and providing value to your customers.
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Radical Transparency: A Look at GitLab’s Company Culture

Radical-Transparency-at-GitLabImagine you knew absolutely everything there was to know about the company you buy from. I’m talking about their goals, values … even the challenges they face. It would be pretty radical right?

Or rather, the company in question would be radically transparent.

Radical transparency is a phenomenon that’s gaining traction, and this post is here to tell you why. I’ll be taking a look at what radical transparency means and how the approach is put into practice at Gitlab, a DevOps platform founded upon an open-source ethos.

To jump to a specific section of the post click the appropriate link below:

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Hyper Growth: The Strategies You Need to Reach Unicorn Status

The 4 Hypergrowth Strategies to Gain Unicorn Status for Your Start Up

Everyone knows that unicorns don’t exist.

Or do they?

The latest findings have reported that there are now over 600 unicorns thriving in the wild. Experts in the field often cite unicorns’ unique capacity for managing hyper growth that’s allowed them to experience such a surge of success.

However, unicorns still face a perilous existence: two-thirds of unicorns never reach full maturity. This is partly due to a lack of sustainable resources in their environment, but with valuations of $1 billion or more, they are also highly coveted by collectors.

Say you want to raise a gangly young foal into a noble specimen of unicorn-ness. Where do you start? How do you make sure your prospective unicorn makes it into that elite one-third of successful hopefuls?

Fortunately for you, Process Street knows a thing or two about unicorn rearing and maintenance, and this post will cover the basic strategies of managing hyper growth for the best possible outcome: a fully matured unicorn.

Peruse the following chapters for the best advice we have to give:

Giddy-up! (Last horse reference, I promise.)
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How to Run Remote Meetings That Don’t Suck

How to Run Online Meetings That Don't SuckThis is a guest post written by Andre Pinantoan who is currently the Head of Growth at AI coaching startup, Fingerprint for Success. He was previously Head of Growth at multiple high growth companies such as Canva.

The COVID-19 pandemic has plunged a lot of us into the deep end, and many people have had to adapt to new ways of working. This includes how to effectively run remote meetings on a regular basis that actually have some productive value.

It’s one thing to hold a virtual conference once in a while. But when it’s one of your primary tools for communicating, coordinating, and just generally getting your team on the same page, it can either be the best thing for efficiency or a complete failure.

Truth be told, research shows that meetings already had a bad reputation pre-COVID. A survey conducted in 2018 with more than a thousand workers in the US showed that one in four people felt meetings are a waste of time. Add to that the “online” factor, and conducting useful meetings starts to get way harder for a lot of people.

I personally felt the steep learning curve during the initial months of adapting to our new way of working. As a team leader, I’ve always felt that being physically present and giving my time to members has been a key way of supporting them. So I had to find a way to channel my presence digitally.

Through these challenges, we’ve learned and adapted. As always, it’s crucial to understand what’s not working and try to make things better. Along the way, we even found some surprising benefits of conducting meetings virtually.

In this Process Street article, I will share the difficulties we faced when transitioning to full-time remote communication and how my team managed to overcome them.

Let’s get started! 🚀
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How to Meet Goals and Inspire Your Team Using OKRs (Includes OKR Examples)

okr examples

I love winning.

It doesn’t matter what’s involved or what the prize is, I’ll do what I can to achieve my goal of clinching that ‘winner’ title.

When I was 6, my primary school held an egg and spoon race as part of its sports day activities. The prize was a yardstick of chocolate. Let’s just say that, by lunchtime, there were tears and tantrums elsewhere while my face was smeared with chocolate.

To this day, I’m still (perhaps unhealthily) incentivized by goals. Particularly in the workplace. I’m not alone in this though, as numerous studies show that goal-setting improves employee performance and engagement.

Do you relish winning, too?

And do you want the next quarter to be your team’s best quarter ever?

Then you need to know about OKRs (objectives and key results). It’s basically an adult version of the egg and spoon race.

That’s why, in this short, informative Process Street post, I’ll define OKRs, describe their business benefits, give advice on how to write solid OKRs, and also provide OKR examples from the likes of Google.

Just make your way through the following sections to learn all about OKRs:

Now, let’s make this quarter more than OK.

Let’s make it internally record-breaking, thanks to OKRs! 📈

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