The Minimum Virtuous Product: Is the Move Fast & Break Things Era Behind Us?

Minimum Virtuous ProductIf you’re moving fast and breaking things, at what point in time do you realize things are broken?

When there is public uproar against your product? Such as the Amazon case in 2019 involving job listings for the role of “union buster” (someone who reports on fellow employees seeking fair labor practices).

Or, when regulators come down on you like a ton of bricks? As was (and continues to be) experienced by Airbnb whose platform has been home to grotesque racial discrimination.

Allow me to introduce the topic of this blog post: The minimum virtuous product (MVP).

It seems the concept behind the traditional minimal viable product (MVP) which prioritizes quick launches and basic feature sets has been replaced by something a little more virtuous. The new MVP, minimum virtuous product, encourages companies to focus on diversity and transparency by building morally sound design principles, from the start.

This post will take a look at what this change in acronym has to do with the way companies grow and scale; along with an eight-question framework that will help start-ups assess the social impact of their products; and finally, it will cover what moving with virtue could mean for future startups.

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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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Why Scaling Your Sales Team Isn’t Just About Adding Reps

sales teamBuilding an initial sales approach is something loads of us have attempted to do at some point or other.

Sales ends up being one of the key ways companies grow and scale. We all know this.

But there’s a big difference between doing effective outreach for your startup on a high-touch basis where you’re still understanding customer needs and figuring out approaches, and turning this knowledge into a sales machine with a full sales team that can operate in a financially efficient way.

Understanding yourself in the market and growing to be the company you want to be require different slightly strategies.

This growth from tiny solopreneur kind of structures to managing teams with effective documented practices is what this article will be all about!

In this Process Street article, we’re going to take a look into some expert insights from Close.io‘s recent webinar with their CEO Steli Efti, Process Street’s CEO Vinay Patankar, PandaDoc‘s Director of Inside Sales Mike Paladino, and Groove‘s VP of Sales Mike Sutherland.

We’re going to pull out the key questions to help scale your sales in a way that works:

  • What do you want to scale?
  • Is now a good time to scale?
  • How do you build a process for scaling?
  • How do you get a sales teams to follow the process?
  • When and how do I add people to a sales team?

And finally, we’ll give you 10 free process templates for different areas of sales for you to start using in your business today.

You can watch the whole webinar here: How to build a scalable sales process (Q&A webinar)

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