Small business owners are required to wear many different hats. But managing every single process and looking at all the analytics and results to make sure your business runs as efficiently as possible can be incredibly time consuming.
That’s where process management tools like Kanbanize come in. The tool helps small business owners and managers keep track of different processes and look at analytics and other success factors to help determine what is working and what isn’t. You can read more about the company below in this week’s Small Business Spotlight.
What the Business Does
Provides visual process management software.
CEO Dimitar Karaivanov told Small Business Trends, “It is versatile enough to be equally helpful for anyone from developers to event managers and inventory administrators.”
Providing a combination of analytics and other success metrics.
Karaivanov says, “The combination of business analytics, automation and success measurement we offer is not implemented by any other tool on the market. For deeper insights, we have a comprehensive analytics module with every data point tracked and visualized. However, people often simply want to know how they’re doing so we give them the option to get an idea about overall productivity in one metric — process efficiency.”
Small Business Deals
How the Business Got Started
To find a better project management solution.
Karaivanov explains, “The idea for the tool was born out of necessity for a better project and knowledge management solution. Working together on the first prototype with my long-time friend and now co-founder, we saw the potential of this solution and we could probably see what others didn’t, so we decided to quit our jobs and completely dedicate ourselves to the dream of ‘Kanbanizing the world.’ This was, and still is, the best professional decision I have ever made in my life.”
Securing essential funding.
Karaivanov says, “The three co-founders secured the initial investment of just $125k from a local venture fund and went on to build what currently is an 8-digit business out of it.”
Changing the business model.
Karaivanov explains, “We started out with a Freemium model but later on we had to either make the switch to a Subscription model or potentially lose everything. It was one of the early promises of the startup which we had to break, risking to ruin our reputation, brand and alienate all of our users. Luckily, none of that happened. Instead, this was one of the best decisions we made. The new business model became the driver of strong growth, increasing revenues and it was just great for the business, allowing us to expand.”
Weird meeting times.
Karaivanov says, “Every team has a morning stand-up meeting scheduled at an odd time like 10:08. This does wonders for team punctuality.”
“If I had asked people what they wanted, they would have said faster horses.” — Henry Ford
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Images: Kanbanize; Top Image: CEO Dimitar Karaivanov and CCO Bisser Ivanov addressing employees
Bottom Image: CEO Dimitar Karaivanov