We are faced with short-term recession that affects cash flow and our way of work. As a business owner or employee, we want to get through the next few months with minimal damage.
I prepared the FREE 10-day diet to help you cope with COVID-19.
See the planFree Support for 50+You will make your business stronger and more agile by using completely FREE TOOLS and examples in just 2 weeks.
What I get?Your tool-kit:
Manage the Economic Impact of Coronavirus Outbreak on Your Digital Business
We are faced with short-term recession that affects cash flow and our way of work. As a business owner or employee, we want to get through the next few months with minimal damage.
I prepared the FREE 10-day diet to help you cope with COVID-19.
See the planFree Support for 50+You will make your business stronger and more agile by using completely free tools and examples in just 2 weeks.
What I get?Your tool-kit:
You
Data Studio
Google Sheets
10 Days
2
Weeks
The Scope
Neither this document is a magic wand nor am I a wizard. I'm just an analyst. So, I may make it easier for you to manage your business and team with numbers to cope with COVID-19.
The Proven Process
I applied this process to different digital companies. Now I prepared the lite and self-directed version.
The Standard Version
I realized that the process I applied to increase profit in the whole digital businesses was quite slow for COVID-19.
Talk to me
COVID-19 Update
I simplified the whole process and added the sections where we may get the most effective and quick results.
Start the process
10-day Diet Plan for Digital Companies
You will find your daily tasks with examples, blueprints and books below.
Start from day #1Reveal Drivers
Day #1
In this section, we will add all the stakeholders in the ecosystem to the document. The sample document is below.
eCommerce Drivers
Internal Teams
It represents all the teams you work with within the company.
Outsources
Agencies, freelancers or partners are under this scope.
Tools
Tools used in all departments such as accounting, marketing, analytics, HR etc are included here.
Process Mapping
Day #2-3
In these two days, you should determine the top most important 3 functions and success metrics of all departments and external sources. If you have time, you can add more functions. But my suggestion is to focus on the 3 most important ones.
How to Find Your Company's North Star [Draft]Functions
Functions
Functions are the values that the team adds to the company. Examples; traffic generation, online sales (too generic) etc.
Process
Structured activities or tasks in a specific sequence. Necessary to determine the correct KPIs.
Make It Measurable
Day #4-5
It's time to add the functions' processes and KPIs to the canvas. I use whimsical.com to draw process but you can use any free alternative or just pen-paper.
Download Complete eCommerce KPI Schema [5mb]KPI Glossary
KPIs
I am so happy, my dear friend, so absorbed in the exquisite sense of mere tranquil existence.
Formulation
This is the most important part of the process. We need to add KPIs with simple mathematical formulas.
Visualization
Day #6-7
The fastest management is visual. It's time to visualize the whole process. I will use Google Data Studio because it is fast and free.
Sample eCommerce DashboardsSample Saas Dashboards
Tool Selection
I will use Google Data Studio because it is fast and free. Alternatives; Tableau, Power BI or Qlik.
Dashboards
I recommend overview, executive and operational dashboards for each team. Use sample dashboards to be inspired.
Source Linking
Day #8-9
Time to fill the dashboard with data. Since our time is short, we should prefer linking our datasources manual and built-in integrations.
See 200+ connectors
Built-in Solutions
I am so happy, my dear friend, so absorbed in the exquisite sense of mere tranquil existence. It is the fastest and error-free connection in a short time.
Development
First, manual data should be linked. The process can then be automated by development later on.
Refinement
Day #10
There were too many KPIs and connections. Now it's time to qualify them according to their importance and maintenance cost.
Simple Prioritization
Clean-up
I throw myself down among the tall grass by the stream as I lie close to the earth.
Prioritization
And the meridian sun strikes the upper surface of the impenetrable foliage.
Source: icons8.com/ouch
You came a long way. But now you’re in control.
You now have the infrastructure to manage your entire company quickly. I've crafted some actions you can take below with the help of what you did above. I will update here every week.
Possible Actions
Actions
Remote Working
These days, working remotely is on our agenda. So how to make remote work effective with data.
I've crafted some actions you can take with the help of what you did above.
Remote: Office Not RequiredGuide to Working Remotely
OKRs
With OKR, everyone will have a KPI and work in the focus of their company.
Outsource Management
Assign KPIs to agencies & freelancers and include them in the company’s KPI tree.
Clear Responsibilities
Everyone can question their tasks. So, no more bubble efforts.
Information Flow
See all the numbers and changes of your business from one place.
Being on the Same Page
No more misunderstanding. Everything will be spoken in numbers.
Actions
Cashflow Management
Keep your eyes on the incomes / expense and their drivers. Take quick action.
Profit-oriented Teams
Each team has a goal. Why not make these goals more profit-oriented?
Overspending
It is difficult to measure the return of each spend. Evaluate the ROIs and cut back overspending.
Cost Tracking
Control all fixed and variable expenses together.
Inventory Tracking
Track your weakest point, your inventory closely. Track the impact of your promotions to reduce the inventory.
Super-Agile
Be aware of each team, spending, income. Make a quick decision.
Higher Gross Profit
The priority is to reduce the inventory level. Meanwhile, track your gross profit loss.
Higher LTV
It is almost impossible to acquire new users. Focus on your current customers.
Better Conv. Rate
Measure and optimize all funnel that affects the conversion rate.
Free Support for 50+
You have more than 50 employees and do you need support? Book your session. I will give a shoulder.
NorthStar
The Cockpit
NorthStar Analytics Ltd.
We help startups & corporate innovation projects with NorthStar & Drivers Workshops.
We are developing The Cockpit to help SAAS companies scale healthily and e-commerce companies pass the break-even point.
Drip Services is the marketplace of consultants to support companies in scaling and profitability.