Organize Your Business Better With These 5 Methodologies
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Business methodologies are principles that can be used to succeed in business. They typically involve a series of steps. Following these steps, you can keep specific business tasks organized and work more progressively toward goals.
What are some examples of popular methodologies used in business? This post outlines five commonly used methodologies, how they can help your business and the different steps they consist of.
Sales funnel
The sales funnel or marketing funnel is a methodology used to map out each customer’s journey. This can help you track leads and improve your marketing/sales at each customer journey stage. The different stages typically include:
Awareness: When a consumer first becomes aware of your product/service.
Interest: When a consumer becomes interested in your product/service and becomes a ‘lead’.
.’cision: The step at which a lead becomes a customer and begins the purchase process.
Action: The final step in which a customer buys your product/signs up for your service.
Consider the sales funnel to identify stages where you may be losing customers or where there may be bottlenecks. CRM software can help you track customer information at each stage.
Stage gate process
The stage gate process (or phase-gate process as it is sometimes known) is often used when developing a product. It is a series of stages that can help to break down and organize the process from idea inception to launch. The stages of this process include:
Ideation: Generating initial ideas through brainstorming.
Scoping: Researching the feasibility of ideas.
Building a case: Taking a feasible idea and creating a project plan.
Development: Developing the product and creating prototypes.
Testing: Testing the product and fixing issues.
Launch: Launching the product.
The stage gate process can increase a product’s chance of success by ensuring that all potential issues are solved before the launch.
Scrum process
The scrum process is used mainly in software development but can also be used when developing other products. It is used to help build software promptly by breaking down stages into periods of no longer than a month, known as ‘sprints.’ The stages in the scrum process include:
Initiate: The scope and objectives are decided.
Plan and estimate: The project is planned, and costs are broken down.
Implement: The project is executed in line with the plan.
Review and retrospect: The project is reviewed, and improvements are made.
Release: The final product is prepared for release.
Four events can be used to organise each sprint further. These events include:
Sprint planning: The sprint is planned out.
Daily scrum: Daily meetings are carried out to monitor progress and discuss challenges.
Sprint review: This is a roundup meeting carried out at the end of the sprint to discuss what goals have been met.
Sprint retro: Successes and failures are recorded, and discussions are made on future improvement.
The scrum process aims to keep things moving quickly while still taking the time to review and constantly improve. This helps guarantee a successful product when working towards a tight deadline.
Six Sigma methodology
Six Sigma is a data-driven quality control process. It was initially used within manufacturing but can be applied to many other industries. It includes five stages of quality control:
Define: The quality is defined.
Measure: This quality is measured and presented in the form of data.
Analyse: The data is analyzed, and any problems are identified.
Improve: Steps are taken to solve the problem.
Control: Control methods are put in place to prevent such proissues the future.
This quality control method can be used to improve everything from the
Lean manufacturing
Lean manufacturing is a methodology used within manufacturing to reduce waste and improve efficiency. It is more of a cycle than a linear process – helping to encourage constant improvement. The five stages are:
Identify value
Map the value stream
Create flow
Establish pull
Continuous improvement
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Originally Published on https://www.breakfastleadership.com/
