Nexttech

Nexttech
Creating Generational Legacies

Tuesday, September 4, 2018

A Look at the World’s Largest Smart Cities

Source :- https://techspective-net.cdn.ampproject.org/c/s/techspective.net/2018/09/04/a-look-at-the-worlds-largest-smart-cities/amp/

smart cities san francisco

Image from Pixabay

A smart city is the ultimate in efficiency. Data and technology are used to boost economic development, improve the quality of life for those living in the city, and improve sustainability. The UK Department for Business, Innovation, and Skills (BIS) defines this as, “A process rather than a static outcome,” so by this definition, smart cities are continually in a state of flux.

In terms of data, smart cities make use of interconnected information technology to aid operational control. These systems are scalable, so they are being continually improved. For the people who live in smart cities, it’s a great place to be. They are clean, modern, with excellent, more efficient transport links and internet connectivity.

Spending on smart city data technology is expected to reach $80 billion this year, and $135 billion by 2021. The US is expected to spend the most on smart city technology, with spending forecast to reach $22 billion, but China is not far behind, with a $21 billion shopping list.

Singapore

Singapore is one of the world’s largest smart cities. It’s also one of the world’s leading financial centres, which is handy if you want to learn how to trade forex. Singapore aims to become the world’s first smart state, and it’s working hard to make that happen. The city is managed incredibly efficiently, with smart waste disposal systems, efficient lighting, and smart sensors all over the city that monitor everything from elderly relatives in care homes to car parking.

London

London is an aging city, but it’s using smart technology to bring its ailing infrastructure into the 21-st century. Electric bike sharing, also known as Boris Bikes, as well as smart parking spaces, make traversing the city’s congested roads a lot easier. There are also plans in place to turn the River Thames into a renewable energy source. Innovative measures like this will ensure London remains one of the world’s top smart cities.

Oslo

Oslo in Norway has long been committed to cleaner living, which is why it is one of the world’s top smart cities. Oslo’s lights are powered by 65k smart LED bulbs and there are plans in place to add an additional 37 miles to the city’s bicycle lanes. Waste is reused as fuel, so the city is fairly unique in that it has zero waste. By 2030, Oslo aims to be climate neutral.

San Francisco

800k people call San Francisco their home, which means it is plagued by congestion, just like many other large cities. Smart technology is helping to make the lives of San Francisco’s citizens much easier. If they want to use the city’s transport system, they can use smart technology to pay for fares. The city has also invested heavily in clean energy initiatives, with all new buildings now required to have 15 percent of roof space devoted to solar panels.

It’s clear that these innovative smart initiatives are for the greater good, but with smart cities currently consuming 70 percent of the world’s energy, city leaders must balance the need for greater technology whilst paying close attention to the environmental impact of such technology

Saturday, September 1, 2018

Kpi’s - what you can measure you can manage

How often have you heard Peter Drucker’s quote  “what you can measure you can manage”?




As companies experience rapid growth, a common question is “What should we measure?” 


Here are some:- 


do you know the number of new website visitors you received in the last 30 days? (Leads) 

do you know what percentage of them turned into new paying customers? (Conversions)

do you know how the level of satisfaction among your customers has fluctuated over time? (Retention) 

do you know the precise average lifetime value of your customers? (The long tail)

do you know the average price per transaction ? 

Retention) 

do you know the number of times your customer will tans act with you during theyear?

do you know how much it can Syd you to run your business each month

do you know your margins 


There are many questions such as these that measure each aspect of your business. 


And if you don't know the answers, if you can't measure them, then you can't possibly manage or improve them.


Many leaders are finding that they have more information than ever at their fingertips—but this can create confusion, too. What good is having access to data that you can’t use.

  

The best practice is to identify a handful of key metrics—or KPIs—that will help you measure the health of your business. 


We’ve found that measuring a handful of KPIs in each of these four categories can help you keep a pulse on the overall health of your enterprise: Employees, Customers, Revenue and Process. 


Here’s a list of examples of the types of KPIs you might measure in each category if you are in the service industry: 

Employees

1 Utilization rate

2 Attrition/retention

3 Employee satisfaction score

4 Employee engagement score

5 Employee health index

6 Performance (specific desired result by role)

7 Number of open positions

8 Time to fill positions

9 Number of managers on virtual bench

10 Training hours

Revenue

1 EBITDA

2 Profit margin

3 Year-over-year revenue growth

4 Cash conversion cycle

5 Cost of acquiring a customer

6 Cost of service delivery

7 Revenue/employee

8 Revenue/customer

9 Revenue/product line or service delivered

10 Actual v. budget

Customers

1 NPS or satisfaction score

2 Retention

3 Amount ($) of up-sell opportunities

4 Service renewal rate

5 Customer lifetime value

6 Number of customer complaints

7 Number of open support tickets

8 Percentage of customer requests 

9 completed in X time

10 Number of customer testimonials

11 Number of referrals

Processes

1 Project profitability

2 On time product/service delivery

3 Scheduled downtime

4 Unscheduled downtime

5 Number of defects

6 Percentage of bugs detected in-house

7 Safety incidents

8 Idle time

9 Time to product launch

10 Length of sales cycle

This list is by no means comprehensive, and if you measured everything on this list, you’d be measuring too many things. The trick to setting a valuable KPI for your company is to focus on your specific business model and what you need to know in each category.  


Narrow your list to the top 8-12 KPIs during your team's quarterly planning session.


Not sure which KPIs to focus on? 


Download https://bsi.skillsoptimiser.com/BusinessHealth/



Looking for more KPI Examples to help get you started? Check out our additional resources:

33 KPI Examples to Measure Productivity & Prevent Organizational Drag

25 KPI Examples for Manufacturing Companies

Employee KPI Examples: How to Measure What You Want to Move (Video)

KPI Examples for Successful Sales Teams

Marketing KPI Examples

10 Best Employee KPI Examples



Sources:- https://www.growthink.com/content/two-most-important-quotes-business


http://connect.rhythmsystems.com/key-performance-indicators-guide


Download these business calculators and over 50 strategies to help you build your business

Thursday, August 30, 2018

Who would you choose to be your mentor?



It’s difficult to keep it simple!



We launch with products that are too complicated.

I’ve spent the greater part of a decade designing and building digital products with and for startups, early ventures, and brands. Our aim always starts the same. Choose an audience, uncover a clear problem and then build the simplest solution possible to solve that problem. Iterate on that solution to build value and achieve product-market fit. I can honestly tell you that I’ve only seen it done right a handful of times.

And here’s the problem…. it is complicated! Simplicity is not simple.

Building a simple product or at least the illusion of a simple product takes a careful dose of both art, science, and luck. We live in a culture that expects to be instantly satisfied, while at the same time completely satisfied. So there is this feeling that creating a simple solution will come across as being unfinished and not valuable because it’s not as robust as other apps they may have seen. We are distracted by the “Facebook”(s) of the world that have spent YEARS and millions and millions of dollars iterating, testing, building, breaking, failing, scrambling, grinding to build what we now know today as a large ecosystem of apps.

We forget

We forget that even simple apps have a lot of moving pieces under the hood. Authentication, email services, texting, user accounts, file management and image uploading. There’s subtle education cues, micro-interactions, and real-time interactions. There are 3rd party services, analytics tracking, customer support tools, and social authentication options. But above the kicking under the water, it needs to appear that the experience is smooth and intuitive. Simple.

We forget to listen to ourselves. We preach “Build fast and break things”. We quote lean principles to “build, measure, learn”. We ooh and aww over design concepts that look simple, fluid, intuitive. Then we turn around and say, “but what if we add this”… “Yeah, that absolutely has to be there or we’ll be missing out on a HUGE group of customers.”

And that huge group is usually one…. maybe two individuals that probably looked at our solution before launch and said, “you know what would be great is if…..” The next we know, we change launch timelines, testing schedules, and budgets, and get back to work building yet again another feature.

Everything is shiny!

It’s always just a bit greener on the other side. And the other side for us is more complicated, bigger, and with more moving parts. It’s a space shuttle with switches, backup systems, huge amounts of fuel, a communication system with mission control, and ability to survive in SPACE. But the problem we are trying to solve is how to commute across town for a cup of coffee.

It’s clear that as humans we are never satisfied. We work like crazy to get degrees, to get jobs, to get better jobs, to have status in life that leads to the next status in life, that leads to the next status in life, which leads us longing for the simplicity of life before all that status and responsibility. We are never content. This plays out in our businesses as well. We believe that if we just had a bit more function we’d be better. A little more value with one more service, one more feature, we will be faster, stronger, richer, and more people will like us and want what we have to sell.

The result is we are too late and too hard understand

We took too long, spent too much money, and a now have a solution that will be harder to sell because there is more to explain. Our own tunnel vision on our products leads us to see a “happy path” of exactly what we believe our users will see. We see what WE want. Value where value may or may not be. We are paralyzed by the fear of releasing a product only to find that it wasn’t perfectly accepted. We want so badly to release an instant success that sometimes we just never release. Or we release far too late and far too complicated. And now we not only have to sell a bigger more expensive app, but a more complicated one that we’ll have to teach them to use, and support them as they struggle to grasp so many features.

By the time we’ve shown the world our incredible solution to their problem, we spent so much money building this more complicated fully featured experience that our capital runway is shot! We’re out of cash. No resources to market, test, iterate. We have a very expensive, robust solution that we can not afford to tell people about or learn what we did right or wrong. We can’t adjust the product to truly solve the problem in a way that people will pay, continue to pay, and tell other to pay.

Let me be clear. This does not mean that your product is ugly, or isn’t somewhat intuitive. It may look great or you may have turned a simple solution into a MONSTER! It doesn’t mean that you’ve lost all hope, but likely your missed an EXTREMELY important part of the cycle. Learning.

“Simplicity is hard to build, easy to use, and hard to charge for. Complexity is easy to build, hard to use, and easy to charge for.”

— Chris Sacca (A venture investor, entrepreneur, and proprietor of one of the most successful venture capital funds in the US.)

So what are going to do about this?

Let’s get back to the basics

I’m going to steal a lot from Lean, Agile, Power of Habit, and about 300 other medium articles on the topic, but let’s own actually doing these things and not just talking about them.

Open up

Lets all agree to be WAY more open with our ideas. Stop shoving our heads under a rock out of fear that we don’t have it all figured out. Let’s stop worrying that someone is going to steal our ideas. “Keeping it close” is fine, but not so close that you literally never move. Share your concepts and ideas early and often. Build rough prototypes, wireframes, design clickable prototypes, functional prototypes. Build something. Pitch decks and business plans sitting in a folder on your desk won’t solve any problems.

Test more often.

There is no reason that you shouldn’t be testing everything. Interview potential customers to prove you’re actually solving a problem. Test the name. Test the brand. Test interactions. Test colors. Test concepts of new features. Test smaller chunks of work. You can always design more, but in testing what you might find is that less accomplishes the same outcome with small development and less cost and reduce product complexity.

But don’t let testing stop you from moving forward.

Learn fast and move forward

After testing, use that data you found to make decisions and more forward. (I think I’ll write more on this later) It’s so easy to get stuck in feeling like you don’t know the right decision to make and at the risk of getting it wrong, you don’t make any decision at all, and then you’re stuck.

Plan for sales, marketing, and growth.

Once again, I’ll say it. If you believe the idea “If we build it, they will come” you will be sadly disappointed. Think about your rollout plan. Start pre-selling even while you’re testing. Get people to commit to your solution even before you have it built. Consider your influence. If your business or service may have a geographic rollout, start planning how you will roll out to each area, but PLEASE don’t shotgun all geographies at once.

Plan to spend money to get qualified leads. Build an email list, pump social media, hire a marketing team, but preferably one that does not suggest that you buy banner ads. Just walk away if they even mention banner ads.

But above all, start selling NOW! Do not wait until you have the “perfect product” to start selling.

Business of people, not apps

I will likely find a way to have that headline be in every blog I write, but the long and short of it is that as we build our businesses and apps, we MUST be focused on our users and customers. We must treat our customers like kings and queens. Serving them beyond all costs (figuratively speaking). We must listen to them with intense focus. Carefully collecting data, affirming their requests, feedback, critiques, etc. Court your customers. Not like tender. More like your grandparents treated each other. Open the door for them, buy them flowers, meet their parents. (more to come on this topic soon)

Look for trends, not “one-offs”

Finally, we won’t take the loudest voice demanding another feature as a trend that all the users will benefit from. We’ll take the feedback from that loud voice and test the request across a larger group. We’ll look for trends in requests or feedback and, we’ll make decision based on the need, not on the impulse.

We can do this!

Given the pace at which apps are hitting the market. Given the statistics that 9 in 10 business fail within their first 3–5 years, let’s work hard to build smaller more focussed solutions to our customer’s problems. Lets test and learn quickly how to iterate forward. And let’s share and sell early while we carefully hold the hands of our customers building a meaningful relationship that they will invest into our solution, service, and value long term.

We can do this. Actually, we’d love to do this with you! Let’s talk

Let us know how you work to keep focused, and avoid making things too complex. Leave a comment below.

Thanks to Daniel Linhart. 

Sunday, August 26, 2018

Upcoming innovations from Facebook from security to 3d Oculus3d

The future is now. Facebook is keen to get users watching their favourite shows in its new Oculus Go headset. Starting with Facebook Watch shows first (Netflix will surely soon follow), this is an interesting attempt by the social media company to try and get consumers buying into VR as well as demonstrating the intrinsic value of Oculus beyond VR roller coasters and the like.


Thursday, August 23, 2018

The Sill Raises $5m




https://techcrunch-com.cdn.ampproject.org/c/s/techcrunch.com/2018/08/22/plant-focused-startup-the-sill-raises-5m/amp/

The Sill, a startup founded 6years ago selling  potted plants online and in physical stores,  have raised $5 million in Series A funding led by Raine Ventures.

The company wa was bootstrapped until last year, when it raised seed funding from Brand Foundry Ventures, Halogen Ventures, BBG Ventures, Tuesday Capital, Blueseed and The Chernin Group. (BBG Ventures is backed by TechCrunch’s parent company Oath.)

 The Sills founder , Eliza Blank said her vision is bigger than “just putting plants online and being another direct-to-consumer brand.”

The Sill doesn’t just sell you a plant (along with basic care instructions). It also allows you to ask questions of the company’s plant experts — and with the opening of its first brick-and-mortar stores in New York City, it also offers weekly workshops.

“We have a much longer relationship than a typical transaction business,” Blank said. “Making the purchase is almost like the start — or maybe the middle — of a conversation.”

The company says it sold more than 75,000 products in the last six months, with sales up 500 percent year-over-year, and anticipated revenue for the year of nearly $5 million.


Tuesday, August 21, 2018