- \n
- How much did we spend on ad campaigns? What was the RoI?<\/li>\n<\/ul>\n\n\n\n
- \n
- Which were the\u00a0most effective social media channels – Google, Twitter, Instagram or LinkedIn? Which were the most effective ads?\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n
- \n
- On an average, how many phone\/Zoom conversations are needed before someone buys our product?\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n
- \n
- What is the average cost of acquisition per customer?\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n
- \n
- How many agreed to renew contracts? How many customers did not renew\/cancelled?<\/li>\n<\/ul>\n\n\n\n
- \n
- How much revenue did we generate through referrals from existing customers?\u00a0<\/li>\n<\/ul>\n\n\n\n
- \n
- What is the average revenue per customer that is being generated?\u00a0<\/li>\n<\/ul>\n\n\n\n
- \n
- What is our customer satisfaction score for the month? How does it compare to the previous month\u2019s score?\u00a0<\/li>\n<\/ul>\n\n\n\n
- \n
- What is our net promoter score for the month? How does it compare to the previous month\u2019s score?<\/li>\n<\/ul>\n\n\n\n
- \n
- How long do we take to respond to a customer support ticket?<\/li>\n<\/ul>\n\n\n\n
These are some examples. <\/p>\n\n\n\n
As you can imagine, such data and information needs continuous tracking.<\/p>\n\n\n\n
This is how a high-level MIS will look: <\/p>\n\n\n\n
<\/figure>\n\n\n\n
This is a very simplified chart.<\/p>\n\n\n\n
Over time, as the business matures and you have data, it gets more finely categorised. <\/p>\n\n\n\n
That is when you need to visualise data and create charts and dashboards to answer key questions.<\/p>\n\n\n\n
For example, how do you compare these results over time, or across different regions or products?<\/p>\n\n\n\n
For this, if you know advanced features of excel, you can also prepare charts or a dashboard as follows: <\/p>\n\n\n\n
<\/figure>\n\n\n\n
<\/figure>\n\n\n\n
Like this, you can prepare important metrics for all the key teams of a company – sales, marketing, finance, tech, customer support, ops, HR, etc.<\/p>\n\n\n\n
Let\u2019s take another example. <\/p>\n\n\n\n
MIS for the customer support team <\/h1>\n\n\n\n
Imagine that you are doing this for the customer support team. What data would the CEO want?<\/p>\n\n\n\n
- \n
- What is our average \u201cfirst response time\u201d?<\/li>\n\n\n\n
- What is our end-to-end query resolution time?<\/li>\n\n\n\n
- How long does it take<\/li>\n\n\n\n
- How many tickets did we receive on an average in a day?<\/li>\n\n\n\n
- How many tickets per agent could we handle in a day?\u00a0\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n
Whatever gets measured gets managed – said Peter Drucker, the father of modern management.<\/p>\n\n\n\n
However, someone has to keep tracking the measurement. This is very valuable work for any smart organisation.<\/p>\n\n\n\n
It is valuable, but it does not require any great skill. Just data entry work to be done with diligence really.<\/p>\n\n\n\n
Collect data.<\/p>\n\n\n\n
Fill into a spreadsheet.<\/p>\n\n\n\n
Done.<\/p>\n\n\n\n
You keep doing this without errors. Now you are in charge of a MIS!<\/p>\n\n\n\n
Way too easy to do this.<\/p>\n\n\n\n
As you keep doing this, you will sometimes get a chance to do more advanced stuff. How?<\/p>\n\n\n\n
5 most frequently made mistakes which can let a startup CEO down <\/h1>\n\n\n\n
Here are the most important ones. <\/p>\n\n\n\n
#1 – Not identifying the right questions or the right data to measure. Even CEOs may struggle with it sometimes. <\/p>\n\n\n\n
If you can help a CEO identify the important metrics by asking more questions about their business and what they\u2019d like to measure, they will really appreciate it. <\/p>\n\n\n\nSome of this can be done by using AI as well!<\/p>\n\n\n\n
<\/figure>\n\n\n\n
<\/figure>\n\n\n\n
Plus, as the company grows, the MIS will evolve all the time. <\/p>\n\n\n\n
#2 – Not understanding how the business works, so when something in the business changes, your MIS does not adapt, but captures inaccurate data<\/p>\n\n\n\n
#3 – Making careless mistakes while updating data, and blaming it on \u2018human error\u2019. If you do this, you will get fired soon. <\/p>\n\n\n\n
#4 – Not communicating your unavailability, not being reliable or not sticking to deadlines <\/p>\n\n\n\n
#5 – Not learning how to use software like Mailchimp, Google Sheets\/Microsoft Excel, Zoho, Hubspot, etc. and depending on someone else to \u2018train\u2019 or \u2018inform you\u2019. <\/p>\n\n\n\n
Many people worry that software is eliminating these jobs, but that is not true. <\/p>\n\n\n\n
Some part of the MIS information can be provided by software. For example, your customer service tool may provide some data about customer response times. <\/p>\n\n\n\n
What if you decided to provide support on Whatsapp groups as well, and you wanted to measure that? How will you do it? <\/p>\n\n\n\n
You will need to detect this first, and then implement additional tools (e.g. a new software + Whatsapp business account) to measure this, and then record this data. <\/p>\n\n\n\n
Maybe the CEO wants to understand how long it takes for a lead to buy a product after they sign up on your website. You may need to pull in and organise data from multiple softwares to understand that. <\/p>\n\n\n\n
A lot of manual human effort is needed to prepare it and compile the data prepared, and it needs to be accurate.<\/p>\n\n\n\n
What if you had a week to learn how to create this and implement this in a virtual setting? <\/p>\n\n\n\n
Imagine that a CEO is looking for a startup generalist and you show him how you have made many MISes before, and how you are going to help him with his MIS. <\/p>\n\n\n\n
Will that get you hired? Will you get more pay? What do you think?<\/p>\n\n\n\n
What if you could learn 30 more such important skills? How will it improve your marketability for a remote startup generalist role?<\/p>\n\n\n\n
Btw, AI is making these tasks much easier to perform than it was ever possible before.<\/p>\n","protected":false},"excerpt":{"rendered":"
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- How long do we take to respond to a customer support ticket?<\/li>\n<\/ul>\n\n\n\n
- What is our net promoter score for the month? How does it compare to the previous month\u2019s score?<\/li>\n<\/ul>\n\n\n\n
- What is our customer satisfaction score for the month? How does it compare to the previous month\u2019s score?\u00a0<\/li>\n<\/ul>\n\n\n\n
- What is the average revenue per customer that is being generated?\u00a0<\/li>\n<\/ul>\n\n\n\n
- How much revenue did we generate through referrals from existing customers?\u00a0<\/li>\n<\/ul>\n\n\n\n
- How many agreed to renew contracts? How many customers did not renew\/cancelled?<\/li>\n<\/ul>\n\n\n\n
- What is the average cost of acquisition per customer?\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n
- On an average, how many phone\/Zoom conversations are needed before someone buys our product?\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n
- Which were the\u00a0most effective social media channels – Google, Twitter, Instagram or LinkedIn? Which were the most effective ads?\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n