{"id":420,"date":"2024-06-13T11:35:48","date_gmt":"2024-06-13T11:35:48","guid":{"rendered":"https:\/\/skillarbitra.ge\/blog\/?p=420"},"modified":"2024-06-13T11:35:49","modified_gmt":"2024-06-13T11:35:49","slug":"one-skill-startups-are-dying-for-hint-its-easy-to-learn","status":"publish","type":"post","link":"https:\/\/skillarbitra.ge\/blog\/one-skill-startups-are-dying-for-hint-its-easy-to-learn\/","title":{"rendered":"One skill startups are dying for (Hint: It&#8217;s easy to learn)"},"content":{"rendered":"\n<p>One of the first tasks to perform when you&nbsp;assist startups is to enable them to prepare effective MIS-es through which they can measure key data.&nbsp;<\/p>\n\n\n\n<p>This information will be very important for startup CEOs when they pitch to investors and, of course, to track the health of their business.&nbsp;<\/p>\n\n\n\n<p>In India, there are a lot of people who do entry-level work around filling in data into MISes.<\/p>\n\n\n\n<p>Many junior professionals in finance restrict themselves to bookkeeping work only and never do this work because they have not learned about it.&nbsp;<\/p>\n\n\n\n<p>This work is not difficult, and if you can learn how to do it, startup founders will find your input very valuable.&nbsp;<\/p>\n\n\n\n<p><strong>So what is it?<\/strong><\/p>\n\n\n\n<p>A management information system is a tool by which a CEO\/ manager\/ team leader can review the performance data of one team (sales, marketing, operations, legal, any team you can imagine) or even the whole business for a specific period of time.<\/p>\n\n\n\n<p>Imagine that you work for the CEO of a SAAS company.&nbsp;<\/p>\n\n\n\n<p>What are the important numbers that they would want to know and be on top of all times?&nbsp;<\/p>\n\n\n\n<p><strong>Some examples &#8211;<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>How many leads did we get this month? How many were organic leads, and how many were paid?<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>How much did we spend on ad campaigns? What was the ROI?<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Which were the\u00a0most effective social media channels &#8211; Google, Twitter, Instagram or LinkedIn? Which were the most effective ads?\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>On average, how many phone\/ Zoom conversations are needed before someone buys our product?\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>What is the average cost of acquisition per customer?\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>How many agreed to renew contracts? How many customers did not renew\/ cancel?<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>How much revenue did we generate through referrals from existing customers?\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>What is the average revenue per customer that is being generated?\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>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<ul class=\"wp-block-list\">\n<li>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<ul class=\"wp-block-list\">\n<li>How long do we take to respond to a customer support ticket?<\/li>\n<\/ul>\n\n\n\n<p>These are some examples.&nbsp;<\/p>\n\n\n\n<p>As you can imagine, such data and information need continuous tracking.<\/p>\n\n\n\n<p><strong>This is how a high-level MIS will look:&nbsp;<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXcxQLd1UdZxxP3yBWM4bEmESJNIfiKGCWHpklECqlnncq8-Mu17XcB0wSjOTLHtw0NZkdBD8ljfUJsrN5_ijhKhF2f412_aP7sbEqP0NoqH52XL6mZKYaZrg6aP_SLQeaNO-9o67ZwU7eJNTZlyzC84aQBh?key=fKxxfvarCLEUwO8sxIhe0Q\" alt=\"\"\/><\/figure>\n\n\n\n<p>How do you compare these results over time or across different regions or products?<\/p>\n\n\n\n<p>For this, if you know the advanced features of Excel, you can also prepare charts or a dashboard as follows:&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXf4bdwZEi0k3_WIWZ23J6XGuUAjOintmQwzw0HTqt6VUBfFpl7F-GAvAk-8DDYuQf020GfAiYZ8RDSS5kEx04nkO9pWs2LDp988FpH_9rJ31u6XVs-Z3vtKZtqxbmdE-TFsEnMpwc8eLjJDJmN59BgEKd8?key=fKxxfvarCLEUwO8sxIhe0Q\" alt=\"\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXfVTY5lX_6G1qxSeMFo1KZDMA4E4hWyXd-Zt3LdwDEiLp4cP1QzogdkdKCsgNhfNFSKaPhwv7MnuJRsy0VqpaAIcMnLsluVBDp8Ynw6UNfXVPKtX2y5FgUr7-dJlOD6lMP0Zbe3XyE903juBRUdGwam4KU?key=fKxxfvarCLEUwO8sxIhe0Q\" alt=\"\"\/><\/figure>\n\n\n\n<p>Through this, you can prepare important metrics for all the key teams of a company &#8211; sales, marketing, finance, tech, customer support, operations, HR, etc.<\/p>\n\n\n\n<p>You can do this for CPAs as well and assist them to grow their practice.&nbsp;<\/p>\n\n\n\n<p>Remember that to actually do such work, you also need to learn how to do this work.<\/p>\n\n\n\n<p>So you need to have the right skills before you can get such work.&nbsp;<\/p>\n\n\n\n<p>Startups, e-commerce, cryptocurrency, and fintech are just some new areas opening up for accounting and bookkeeping professionals like you, and the US is where most of the action is.<\/p>\n\n\n\n<p>But skilled US professionals in these <strong>high-demand, low-supply<\/strong> areas are hugely expensive and unaffordable for most startups and small businesses. In comparison, a similarly qualified Indian professional will do the work at a fraction of the cost, but still earn far more than fellow Indian professionals.&nbsp;<\/p>\n\n\n\n<p><strong>Besides, serving international clients builds a track record that will be as valuable as gold in your future career.&nbsp;<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the first tasks to perform when you&nbsp;assist startups is to enable them to prepare effective MIS-es through which they can measure key data.&nbsp; This information will be very&hellip;<\/p>\n","protected":false},"author":2,"featured_media":225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/skillarbitra.ge\/blog\/wp-json\/wp\/v2\/posts\/420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/skillarbitra.ge\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skillarbitra.ge\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skillarbitra.ge\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/skillarbitra.ge\/blog\/wp-json\/wp\/v2\/comments?post=420"}],"version-history":[{"count":1,"href":"https:\/\/skillarbitra.ge\/blog\/wp-json\/wp\/v2\/posts\/420\/revisions"}],"predecessor-version":[{"id":421,"href":"https:\/\/skillarbitra.ge\/blog\/wp-json\/wp\/v2\/posts\/420\/revisions\/421"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skillarbitra.ge\/blog\/wp-json\/wp\/v2\/media\/225"}],"wp:attachment":[{"href":"https:\/\/skillarbitra.ge\/blog\/wp-json\/wp\/v2\/media?parent=420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skillarbitra.ge\/blog\/wp-json\/wp\/v2\/categories?post=420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skillarbitra.ge\/blog\/wp-json\/wp\/v2\/tags?post=420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}