All posts in Processes


There’s a New Way CS Leaders Should Measure Value Generated

There's a New Way CS Leaders Should Measure Value Generated-01

According to Deloitte Insights, advances in technology are changing the business landscape and they are calling this a digital disruption. This is altering customer expectations and demands, presenting critical challenges for customer success teams globally.

To successfully ride this wave of change, Deloitte – and us here at Process Street – believe businesses should rethink how they are measuring value delivered to the customer. The aim is to ensure these measurements are customer-centric to refine CS activities and enhance the customer’s experience.

Think of it as a customer success evolution in response to digital disruption.

This CS transformation has the potential to bolster positive referrals by 83%, lower costs by 20%, and increase customer lifetime value by x1.6.

What have you got to lose?

In this article, you’ll learn how to apply a customer-centric means of measuring customer value generated for your organization. I’ve split the process down into three steps based on the Customer-Centric Digital Transformation report by Deloitte.

With that said, let’s jump straight to it!
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5 M&A Process Checklists to Supercharge Your Pre & Post Acquisition Workflows

5 M&A Process Checklists to Supercharge Your Pre & Post Acquisition Workflows

“The truth is mistakes happen. The accepted data says that most mergers and acquisitions don’t work out.” – Martin Sikora, professor of management and editor of Mergers & Acquisitions: The Dealmaker’s Journal

Mergers and acquisitions are complicated. Like, really complicated. A simple mistake at any point can delay the deal, derail the process, and potentially cost your company millions.

No matter how highly trained or experienced a person is with M&A procedures, human error happens. In fact, errors are more likely to occur in processes we’re overly familiar with. Once we’ve performed a task so many times that we “know” the steps, we tend to run on autopilot, which means routine actions can be overlooked or forgotten.

Making a mistake during a process with as much risk and expense as a merger or acquisition can ruin one or both companies. This makes having a thorough, well-documented process is an absolute must for any M&A executive.

After analyzing the main reasons mergers fail, I’ve used that knowledge to build several Process Street workflow templates for essential M&A processes. Feel free to jump ahead if you’re looking for a particular template, or continue reading for a walkthrough of all the features these workflows use:

Ready to acquire some new workflows?
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How to Manage a Successful CS Transformation to Be More Customer-Centric

How to Manage a Successful CS Transformation to Be More Customer-Centric-04A recent Deloitte study found a mere 30% of respondents stated customer success was a strategic priority by the board of directors. Only 26% reported official business communications to regularly mention customer success.

At Process Street, we find this concerning. Technological advancements and the rise of Industry 4.0 are altering the business landscape. Businesses are facing new pressures, with changing customer demands and expectations as the biggest catalyst altering how business is done. To respond, organizations need to focus on customer success (CS).

Businesses need to lead a successful customer success transformation, one that means they’re more customer-centric. In this Process Street article, I explain how organizations should do this in three simple steps.

With that said, let’s jump straight to it!
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Customer Success Onboarding: Learn How to Improve Profitability and Reduce Customer Churn

Customer Success Onboarding Learn How to Improve Profitability and Reduce Customer Churn_1

90% of customers feel that the companies they buy from could do better when it comes to how they experience onboarding.

Customer success is about helping your customers understand and leverage the value of your product; you’re basically helping them achieve their goals. In a sense it’s one step beyond traditional customer support, taking a proactive approach to understanding and addressing customer needs.

A key component of customer success is making sure your customers are effectively onboarded.

Onboarding provides a unique opportunity for the CS team to nurture and address the key needs of a new customer, and an effective onboarding program can mean the difference between a long-term customer and a rapid churn.

For customer success teams to succeed with onboarding, CS managers should drive clear best practices and use well-structured processes to make onboarding as effortless as possible for everyone involved.

In this Process Street article, we’ll dive into:

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An HR Leader’s Playbook for Running an Effective Retained Search

retained searchYou are an HR leader at an executive search firm and you have landed a big client, who has agreed to kick-off a retained search with your company. What’s your next move?

Who am I to know anything about executive retained search? Well, I am an ex-associate from one of the top executive recruiting firms in the industry. In an article from the Economist about corporate headhunters, it was said that:

Nobody has ever studied to become a headhunter but the profession is becoming more diverse. Those serving in its ranks include ex-engineers, a former Olympic gymnast…”

– and me, a former visual artist and administrative assistant. Working in executive search, I developed a deep understanding of how each role on the search team can greatly influence the quality and success of the retained search.

The executive search business has been operating since the first World War, through the 1940s. According to AESC (The Association of Executive Recruiting Consultants), it’s likely that Thorndike Deland formed the concept of executive search back in 1926 when he founded the first retained executive recruiting firm.

Meaning, the executive retained search industry has been evolving for over 90 years and will continue to evolve with the digital revolution. Although, there are elements of the retained search business that will remain constant, like the drive to deliver the highest quality service.

I believe it’s crucial for everyone on the executive retained search team to understand how they fit together within the retained search process. However, to impact the performance of your retained search, you have to work on the system. 94% of problems and opportunities for improvement belong to the system, not the individual.

In this post, you’ll learn the difference between a retained search and a contingent search, how to optimize the retained search process (based on my personal experience and reports backed up by leading firms in the industry), and how to maximize the efficiency of your process, especially in the era of remote work (using digital tools like Process Street).

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DACI: Group Decision-Making Made Easy With Our Free Template

DACI: Group Decision-Making Made Easy With Our Free Template

We’ve all been there: an hour and a half into a 45-minute meeting. You’re trying to reach a consensus but as one department makes a suggestion, the next disagrees.

Customer success insists the next product should be geared towards students; sales thinks their parents are a better demographic. Content marketing started out by spitballing potential names until someone brought up the latest Process Street post and they all got sidetracked discussing whether it’s better to use odd or even numbers in a post title. Social marketing is scrolling through newsfeeds and graphic design isn’t even sure what they’re doing in this meeting at all.

It should have been simple: get everyone together, brainstorm ideas, then form a game-plan and timeline to use moving forward. Except no one can agree on anything and, at this rate, the only accomplishment the meeting will have made is wasting everyone’s afternoon.

Group decision-making is complicated. Fortunately, there are processes for that.

You may have already read our post on DECIDE, which is a great decision-making process for individuals. However, what works for an individual does not necessarily translate to a group. In this post, I’m going to introduce you to one of the most popular group decision-making frameworks: DACI.

The DACI (Driver, Approver, Contributors, Informed) decision-making framework is a set of processes geared toward doing just that. As a variant of the RACI (Responsible, Accountable, Consulted, Informed) responsibility matrix, DACI’s emphasis on decision clarity for complex projects often makes it the go-to framework for product managers.

That’s a lot of acronyms all at once, huh?

Don’t worry. We’ll take it slow – or you can jump straight to the point:

Let’s get some decisions made!
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Master Project Management with the Critical Path Method

Master Project Management with the Critical Path Method

Project management requires a wide spectrum of skills, organizational abilities, and attention to detail to make sure everything moves forward according to plan. A good project manager is able to keep all the plates spinning in sync while making it appear effortless at the same time.

However, the more plates you have spinning at once, the harder this is to accomplish. Critical path method (CPM) is one of the tools project managers can use to create a comprehensive plan and organize complex projects with many moving parts.

In this Process Street post, I’ll take you through the CPM process step-by-step, and then show you how our templates and checklists can take some of the stress out of your project management.

Read on, or feel free to skip ahead:

Let’s jump in!
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5 Critical System Failures of the Coronavirus Pandemic

5 Critical System Failures of the Coronavirus Pandemic

At 5 AM on August 29, 2005, the largest drainage canal in New Orleans, the 17th Street Canal, was breached by torrents of water, an hour before Hurricane Katrina struck the city.

Levees and floodwalls fell in 50 different locations, flooding 80% of the city – under 15 feet of water in some parts.

No doubt the system failed. But which system?

The Bush administration claimed the break couldn’t have been foreseen. Scientists claimed they’d given warnings about that exact situation for nearly ten years previous. The US Army Corps of Engineers blamed the city; the city blamed the engineers.

It could be said – and many have – that in this case, it wasn’t the levee system that failed that day, but the human system certainly did. Later, experts determined that budget cuts, outdated engineering, and inadequate process infrastructures are what led to the disaster.

But that was 2005, and something of that magnitude couldn’t blindside us again.

Right…?

System Failure: COVID-19
(Source)

At Process Street, we’ve been paying very close attention to the different responses to the COVID-19 outbreak. This post is going to look at seven of the most notable system failures that occurred during the pandemic, why they happened, and how they could have been prevented.

Let’s get started.
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How to Launch on Product Hunt: What We Learned from 30+ Launches

how to launch a product on product hunt

Way back in 2014, we first tried our hand at launching on Product Hunt with an early version of Process Street. It got featured, but that was a different time; when Product Hunt’s staff manually selected each product feature (these days Product Hunt claims that an automated algorithm decides).

It was hunted (Product Hunt lingo for “promoted”) by Audrey Melnik of Funnel Ventures, didn’t even have a maker (another Product Hunt termin for the creators of a product), yet still found its way to the front page of Product Hunt.

Six years, a couple of relaunches, and a $12 million Series A on from that humble effort, Process Street has changed a fair bit. We’ve shipped over 30 products on Product Hunt; from podcasts, new Process Street feature launches, to whole product launches, to eBooks.

Some of them were great successes, with multiple top 4 spots and a whole bunch of front-page features. Others weren’t so great; some garnered next to no traction and were essentially dead-on-arrival.

The point of this article is to impart some of the lessons we’ve learned, from common myths and misconceptions, to what worked well for us (and what didn’t work so well).

Here’s a breakdown of what I’ll be covering:

Let’s start with the basics, which often get taken for granted when it comes to deciding whether or not to launch on Product Hunt.
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6 Types of Project Proposals That Get Approved (and How to Write Them)

project proposal - header

Project proposals are how you can get management to act on your ideas. They’re the bottom-up version of a project request form.

They are how you can influence your company’s future.

Writing a project proposal isn’t rocket science, but it is a vital skill for being able to successfully pitch projects that you know will benefit your team and business as a whole. Casual conversations aren’t enough – you need to give a formal document that addresses concerns before your manager, CEO, and stakeholders have a chance to voice them.

Plus, having a set template for writing a proposal gives you a document which you can reference throughout the entire project. Instead of having to rely on notes and your vague memory of a water cooler conversation, you have set instructions to follow, and a defense against anyone who says that the project isn’t worth it.

It’s a great example of effective business process management – if anyone questions you, you can show them the project proposal and say “this was approved, and so this is what we’re going to do”.

project proposal - approved by chuck norris Continue Reading

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