wash, rinse, repeat. operational efficiency in a start-up
TRANSCRIPT
THE WOMEN’S FOUNDATION PRESENTS EMPOWERING WOMEN ENTREPRENEURS OPERATIONAL EFFICIENCY AND EFFECTIVENESS
JANUARY 27, 2015,
Wash, Rinse, Repeat. Operational Efficiency in a Start-Up
Mark Munoz
Operational Effectiveness
!Assimilating, attaining and extending best practices.
Doing things better and better
Validating and Executing
Operational Efficiency 3
…Best PracticesIterate quickly. Find what works and what doesn’t.
PensonAsia
2006BrokerageAmerica
1998
InvestLab
2010
Contineo
2015
ITS / NEXA
2001
3 other startups
Sold to TD Ameritrade
Acquired by Penson
IPO NADAQ: PNSN
" Finding best practices means learning from your mistakes.
Operational Efficiency 4
…Time ManagementMyth: As an entrepreneur you are responsible for everything and anything.
4%8%
14%
19%
12%12%
5%
10%
10%8%
How effective are you?
• Marketing• HR• Tech• Product• Admin• Legal• Vendors• Capital• Sales• Communications• Regulatory• Friends and Family?
Operational Efficiency 5
…Divide and ConquerKnow where your time will have the most impact.
Clients 40%
HR 25%
Technology 25%
Client engagement
Product design (features, functions, use cases
HR - finding talent
Legal, infrastructure needs, general admin
Technology - project planning to product build
"Priorities will shift from start-up to customer onboarding. Plan Ahead and Be Flexible.
Admin 10%
Talent#
Speed dating for team building.
Operational Efficiency 7
…Smart and CreativeFinding talent is a best practice.
Culture 30%
Problem Solving 40%
Experience 20%
Can problem solve through prioritisation
Creative enough to come up with multiple options
Culture: communication, style, effectiveness, independent
Domain: relevant knowledge to product or industry
Experience: qualified with hands on experience
" Talent will dictate efficiency,
Experts versus
Generalist
Domain 10%
Methods and Tools$
Lean, Agile, EOS…what do they have in common?
Operational Efficiency 9
…RepeatablePick what is best out of each and what works for your organisation.
♂
Transparency Among Stakeholders (teams, investors, clients…)
In-Source
Online Tools
Centralise Decision Making
Metrics forPerformance and Talent
Divide and Conquer forTime Management
'Google DocsGoogle DriveXeroPipedriveWordpressAirmailAtlassian (Jira…)
Governance
()
*
Wash, Rinse,Repeat…
+
How does all this lead to operational efficiency?
Finding Best Practices
Finding Talent to Execute
Discipline to make it Repeatable
Balanced Approach to Management & Tools
