Managing Operations in a StartUp
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1) Operations is a key function in startups that impacts all parts and ensures everything is working actively and productively. 2) Effective operations requires working well with teams, using technology to enhance productivity, and establishing processes. 3) Key aspects of operations optimization include measuring goals, signals, metrics, and success metrics to understand user happiness, engagement, adoption, retention, task success, and make data-driven improvements. Regular measurement and experimentation are important.
Managing Operations in a StartUp
- 1. Optimizing resources spent on Operations!! Abhishek Sharma VP-Operations and Product Platform, iXiGO.com @Abhi26
- 2. A little bit about myself!
- 3. Do you love running operations in your startup?
- 4. Wikipedia Defines Operations as: a) The fact or condition of functioning or being active. b) An active process, a discharge of function
- 5. Can you imagine a car without a steering wheel?
- 6. What does operations means for a startup?
- 7. Operations in a startup= dashboard of the car! (Ensures and reflects how all parts function)
- 9. How effectively you can work with people? Can you work with a team of spartans?
- 10. Process(ing) makes the difference!
- 11. Use technology to enhance productivity! a) Trello b) Surverymonkey c) Mailchimp d) Evernote e) Balsamiq f) Optimizely
- 12. Optimization of Resources? What are you measuring?
- 13. One of the measurement framework we use in iXiGO GOALS SIGNALS METRICS SUCCESS METRIC H (Happiness) Virality & Buzz - Users tell others # shares & likes # shares+likes/# unique visitors >1% Users find the page useful # visits via social referrals # social referrals/# visits 0.25% - 0.5% Feedback Form : Yes/No # Yes/ # Total feedbacks >70% E (Engagement) Users should engage with the new product's features Actions on the page #Events/#Visit with events >2 Trying the product Bounce Rates <50% Users should spend time on the product Avg Time spent on product Time spent / Visit >1 minute A (Adoption) Users should understand the product Make Queries #who make queries on home page/ # visits on the home page >30% Try the product through WOM New Visitors out of Direct Visitors # New & Direct/ # Direct >40% View detailed modes of transport Clicks on modes of transport # click events (unique) / # of visits >30% R (Retention) Users should come back to our site Repeat usage % of Returning >30% T (Task Success) Error Rates Query Failure Rates # Failed queries/ Total # queries <10% Get queried info No detailed info # users without destination info/ total # successful queries <30% Speed of Response Results wait time Page load time for result page <6 seconds
- 15. Key Takeaways! 1) Operations impacts every function in a startup! 2) Learn to work with people (the most important resources!) 3) Measure, measure and make sure to measure! 4) Learn to experiment! 5) Play Big Games!
- 16. Thanks for not sleeping! I appreciate it Feel free to reach me: @Abhi26 abhishek@ixigo.com