Posts related to business category

4 Reasons Why you Must Document your Business

Vinay Patankar · 10 Dec, 2013 · Business

This was originally a guest post I wrote on The Productivity Blog _Bad process documentation can kill your business dead. Here’s how:_ # 1\. Quality of Work Documenting your processes is proven to improve quality of work. Dr. Atul Gawande in his bestseller, the Checklist Manifesto, presents facts that show using checklists in surgery has significantly increased success rates, resulting in tens of thousands of lives saved. He also shows how a wide range of industries from construction to venture capital have improved quality through documentation. Poor quality work can destroy your reputation sending your customers running. No customers, no business. # 2\. Employee Turnover We all know staff come and go. Keeping on to the good ones is important, but sometimes there is nothing you can do. When a key employee unexpectedly ups and leaves it can have a crippling effect, especially on small businesses. This pain can further be accelerated if you, the business owner, has non-work related issues to deal with. If this unfortunate circumstance is ever to happen to you, make sure you have your documentation in order and you just might get through it. > You may also be interested in this: Process Street: The Simplest way to Document and Track Business Processes # 3\. Rapid Growth Growth is the most exciting phase of business. It’s the reward for all the blood, sweat and tears. But growth is a double edged sword. With big ups come big downs, and if you are not prepared to manage the growth, your business can implode on itself. Hiring and training new staff, processing larger order quantities, supporting more customers and opening new offices are highly complex processes that if done incorrectly can cost you lots of money or even collapse your business. Ensuring you have processes in place to manage these growing pains is of the utmost importance. # 4\. Acquisition If you ever want to sell your business, having proper documentation is of the utmost importance. A prospective buyer wants to know the business they are buying is going to run effectively on its own, without you, the former owner having to be there. Having your standard operating procedures documented can help you close the deal and even get you a sale price. While poor documentation could cause the deal to fall through. If you still need more proof on the importance of process documentation, check out this book by Michael Gerber – The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It. So what are you waiting for? Document or die. For another Business angle, read The Most Important Rule in Business.

Product Idea: Hairdresser Poncho with a Clear Window for Phone/Magazines

Vinay Patankar · 08 Nov, 2013 · Business · Technology

So I went to the hairdresser today and... you can probably guess the rest from the post title. I wanted to use my phone while getting a haircut and started to think why there was no clear window in the poncho so I could use my phone without getting hair all over it. This kind of product would be perfect for a "Muse" (with appropriate testing first of course). If you don't know what a Muse is, its a concept from the book The 4 Hour Work Week, the book that inspired me to start my first internet business when I left to go travelling. It refers to a small business, usually internet based that requires very little energy to run once set up as you systemize all parts of the business (one of the things my startup Process Street is designed to help with). I like the idea of this product because you could sell it wholesale to companies who supply hairdressers, creating a business with decently high revenue but only a few clients, 80/20 that shit (another concept from the book). I found the above image, its kinda what im talking about except for getting a haircut. For another Business angle, read Start-up idea: Marketplace for mechanics to help buyers purchase used cars.

Startup Idea: Evernote for Spreadsheets

Vinay Patankar · 04 Nov, 2013 · Business · Technology

Someone needs to make this or Evernote needs to integrate spreadsheets into their platform, because my current spreadsheet experience is pretty poor. I currently have 13 Excel Spreadsheets open, 6 Google Doc Spreadsheets and 2 files open in CSV file editor. Why is there no solution for me to manage this? Here are the reasons I want this: 1) Navigation Using Windows 7, Excel makes me click twice to change sheets, I cant split excel spreadsheets across monitors, and I am switching between excel / chrome / csv editor. Confusing and slow. With an Evernote esq app, I would have everything in one place, and could spawn off spreadsheets into new windows to do with what I needed. 2) Speed Google Docs uses a TON of memory and I have no way to easily look up or add to spreadsheets. 3) Search Using an Evernote style app, I should be able to insta-search any spreadsheet, or any bit of data in any spreadsheet. This would make finding data from and adding data to spreadsheets much faster and easier. Is this something you think you would find useful? If this Business topic resonated, continue with Startup Idea: Work and Workout Space.

Startup Idea: Work and Workout Space

Vinay Patankar · 12 Mar, 2013 · Business · Technology

I learned so much from my recent journey to San Francisco and Silicon Valley. I've traveled all around the world and I have to say, the Bay Area is easily one of my favorite places. Nowhere else do you get that magical blend of cutting edge technology, brilliant ambitious people, amazing food and a truly international culture. While I was in the bay area I worked out of a few different "Shared Work Spaces". There are a tons of them in San Francisco, through Silicon Valley all the way to San Jose. Probably more than anywhere else on earth, obviously fueled by the startup community. Shared work spaces are offices where you can rent a space for your team, an individual desk or pay to just hot desk (sit wherever you can find space). The office is stocked with everything you need including security, printing and scanning, conference and meeting rooms and kitchen space. Many of the spaces also hold events targeted at the startup world and have relationships with mentors, investors and service providers. While these spaces are awesome, I think we can do better ;) IDEA - "Work and Workout Space" I envision a shared working space which is half office, half gym, half health kitchen (and yes, I know 3 halves don't make a whole). Companies would pay a premium for access to this space, but would get a whole lot more than a simple work space. The premium cost would also be off set by the fact that employees don't have to pay for food or gym costs. Imagine a large warehouse type space with a cross fit gym, fully stocked kitchen with fresh organic foods (you could even bring in a chef if you so wanted) and a complete locker/change room for both guys and gals. Companies could rent out spaces or hot desk - just like a standard collaborative working space - but also gain access to all gym facilities and eat free from the kitchen. This kind of set up would make it almost impossible to not be healthy. Since you are working in this space with a bunch of other people who are all working out and you only have access to healthy foods. The space could bring in instructors for specific sessions and run competitions between the community members. Regular exercise and a healthy diet is proven to increase productivity, so there will be genuine returns to business owners. Plus having the gym and kitchen in the same space will increase the amount of time employees spend in the office. A tactic that some of the big dogs already employ (Google/Facebook). Plus it can't hurt to have a team of happy, health and good looking staff ;) Additional ideas for the Work and Workout Space - Standing and treadmill desks - Ergonomic desks and chairs - Smoothie bar fully loaded with protein and supplements - Training on exercise, nutrition and supplements - Cooking classes so you can keep up your diet for dinner and on weekends I am about to move to Costa Rica and want to create a similar environment except its going to be a "Work, Live and Workout Space on the Beach". Would you want to work in a space like this? A strong follow-up in Business is Startup Idea: Evernote for Spreadsheets.

How to get Asana (and other web apps) onto your Taskbar

Vinay Patankar · 16 Feb, 2013 · Business · Technology

I was so happy when I found this I just had to share it. I LOVE this trick. Basically, it allows you to add browser based web apps to your task bar when using chrome. This is what it looks like: Below is a YouTube video that shows you how to do it. Takes 2 seconds and is built into chrome. This has already save me hours browsing through tabs and opening multiple chrome windows. A strong follow-up in Business is Idea: Create Separate Instances of Browsers for Separate Web Apps.

How Much Money Does the Facebook Ecosystem Produce?

Vinay Patankar · 12 Dec, 2012 · Business · Technology

Facebook went down the other day for the first time I can remember. Got me thinking about how much money is being lost every minute they are down. I know individuals who spend upwards of $50,000 each day on Facebook advertising, which is actually nothing compared to the big brands. If you take into consideration: - All the revenue being lost by Facebook themselves - The opportunity cost of a large portion of Facebook's employees not being able to do their jobs properly - All the hundreds of thousands of advertisers who's ads are not being displayed - Hundreds of thousands of brands who's posts are not being read of their fanpage walls - All the apps that have gone down, including massive platforms such as Zynga - All the third party Fabook developers who cant work right now cause Facebook is down - Social media managers who cant do their jobs - Loss of data from 3rd party analytics companies - Probably many other things I cant think of. Facebook is SO massive that anything it does has a massive ripple effect. I once read a while back that the Facebook ecosystem had created over 220,000 jobs, that number is probably much larger now. Crazy to think about. For another Business angle, read Venturebeat on Facebook Blacklist!?.

Ingredients of a Successful Bootstrapped Startup?

Vinay Patankar · 09 Dec, 2012 · Business · Technology

I've been meeting lots of people and getting lots of feedback here in San Francisco. Here are some of the consistent ingredients of successful startups I have collected from observation and feedback. Note, these elements will probably not leave you with the next Facebok, but just know, for every Facebook, there are 1001 companies who tried to be Facebook and failed. - Solve a problem - A focused product of which the core feature set can be built relatively fast and cheap - Recurring payment model - The core feature set (MVP) should be good enough that you can actually charge people for it - There is the ability to grow out to different markets/features to increase your customer base and how much you charge (aka scale potential) This is similar to what 37 Signals teaches. Basically this will remove the NEED for funding, but you can still take it if you want. It will allow you to grow based on revenues of your company, and the fact that it is recurring will create a more stable model. Vitoto - has almost none of these ingredients. But then again, we want to be the next Facebook :D Quite the conundrum.... For another Business angle, read Looking for a Co-Founder for New Startup - UI/UX.

Idea: Create Separate Instances of Browsers for Separate Web Apps

Vinay Patankar · 08 Dec, 2012 · Business · Technology

I always get lost in my browser tabs. I am a heavy heavy internet user and often find myself with 20-40 tabs open at a time in Chrome. Many of them running web apps that I like to keep open all the time: - Multiple gmail accounts - Google Calendar - Google Docs (Drive) - Asana - HasOffers - Cacoo The annoying thing about tabs, compared to icons on the bottom of the screen (applies to mac and PCs - I use both) is they its very easy for them to change position. For example when you open links from a web app, it opens a new tab and pushes all the other tabs over. Meaning your reaction to go back to the 3rd tab to check calendar, is no longer there caus its been pushed along. What if there were a way to create browser tabs that broke off and could be pinned as an icon to the bottom of the screen. All they did was launch a new Chrome window, but that window was mapped to that icon in the task bar and made it easy to navigate between different chrome "instances" or "apps". I know it would make me more productive... UPDATE: Turns out this feature is already built into chrome :P - Click here to see how to do it. For another Business angle, read How to get Asana (and other web apps) onto your Taskbar.

Google Apps Removes Free Version Completely

Vinay Patankar · 07 Dec, 2012 · Business · Technology

I just got an email from Google stating that they are removing the free version of Google Apps completely. This is not going to effect existing accounts but new users will not be able to sign up for the free version. I am a heavy user of Google apps and use it on 20+ domains. This is a sad, sad day... > | Hello from Google,Here's some important news about Google Apps—but don't worry, there's no need for you to take any action. We just want you to know that we're making a change to the packages we offer. Starting today, we're no longer accepting new sign-ups for the free version of Google Apps (the version you're currently using). Because you're already a customer, this change has no impact on your service, and you can continue to use Google Apps for free. Should you ever want to upgrade to Google Apps for Business, you'll enjoy benefits such as 24/7 customer support, a 25 GB inbox, business controls, our 99.9% uptime guarantee, unlimited users and more for just $5 per user, per month. You can learn more about this change in our Help Center or on the Enterprise Blog. Thank you for using Google Apps. Clay Bavor Director, Google Apps | | > | --- | --- | If this Business topic resonated, continue with How to get Asana (and other web apps) onto your Taskbar.

Live Bidding for Drinks in a Bar

Vinay Patankar · 02 Dec, 2012 · Business · People

Imagine a bar that had a live bidding system for the price of drinks. The bar could purchase a whole bunch of discount alcohol and start the prices really low. Every time a customer makes a purchase, the price of that particular drink goes up for the next person. The price could go down if that drink isn't purchased for a certain period of time. There wouldn't really be any tangible benefit to this system, it's more a gimmick for the bar to use to give people something to talk about. Plus some days you might be lucky enough to grab a discounted beer. A strong follow-up in Business is Vitoto Editing Features Launched.

App Idea - Turn iPhone's into Public Hot-spots

Vinay Patankar · 25 Nov, 2012 · Business · Technology

So you already know that you can turn your iPhone into a hotspot, but a PUBLIC one? that anyone can use? Here is the idea. Its an app that allows you to create a public hotspot that anyone can access with NO password. But for the user to access the hotspot, they need to watch a 10 second video advertisement. Video ads pay anywhere form $30-80 CPM (cost per thousand impressions). The app provider can organize rev share with its users, so that they get a percentage of the advertisement revenue (say 50/50). This could be a great additional revenue stream for cab or bus drivers, or just a great way to offset your phone bill costs. A strong follow-up in Business is Idea - Thoughts to Extend the iPhones Battery Life.

Email Optimization

Vinay Patankar · 23 Nov, 2012 · Business · Technology

I've been working on email optimization lately. Here are three plugins I have found that are awesome: Snooze your Emails - allows you to set a reminder to re-visit that email at a later date, instead of just losing it in your inbox. Yesware - allows you to track who is opening your emails, and create templates that you can fill in with just the click of a button. Boomerang - allows you to schedule emails to be sent at a later date. Check em. Oh, and make sure you are logged into Chrome with your Google Account, so that your plugins and settings are synced across all your computers. For another Business angle, read Emailing Awesomely – The Definitive Guide to Email Structure.