A Swedish fashiontech startup, Material Exchange, which acts as a comprehensive digital material management solution, today announced the closing of a €5 million funding round to accelerate its growth plans. Material Exchange is one of the few lucky startups that has benefited from the ‘new normal’ caused by the pandemic. “Our business exploded overnight as…
Welcome to this week’s Operational Roundtable Thread.
Ask about anything related to legal, accounting, project management, or how to get started.
Don’t be shy. The purpose of this is to learn and share ideas and methodologies with one another.
Any question is a good question!
If you are answering questions, remember to be kind and supportive. Many are just starting out and have no idea what they are doing. That’s okay! We all knew nothing before we knew something.
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Boulevard, a spa management and payment platform, has raised $ 27 million in a new round of funding despite a business slowdown caused by the COVID0-19 pandemic.
Founded four years ago by Matt Danna and Sean Stavropoulos, Boulevard was inspired by Stavropoulos’ inability to book a haircut and Danna’s hunch that the inability of salons and spas to cater to customers like the busy programmer could be indicative of a bigger problem.
The two spent months pounding the pavement in Los Angeles pretending to be college students doing research on the industry. They spoke with salon owners in Beverly Hills, Hollywood and other trendy neighborhoods trying to get a sense of where software and services were falling short.
Through those months of interviews the two developed the booking management and payment platform that would become Boulevard. The inspiration was one part Shopify and one part ServiceTitan, Danna said.
The idea was that Boulevard could build a pretty large business catering to the needs of a niche industry that hadn’t traditionally been exposed to a purpose-built toolkit for its vertical.
That could be because of the size of the industry. There is more than $ 250 billion spent per year across roughly 3 million businesses in the salon and spa category, according to data provided by the company. By comparison, fitness attracts roughly $ 34 billion in annual spending from 150,000 businesses.
“With limited access to the professionals that help us look and feel our best, I think the world has realized something that our team has always recognized: Salons and spas are more than a luxury, they are essential to our well-being,” said Danna, in a statement. “We are humbled that so many businesses are placing their trust in us during such a turbulent time. This new capital will help accelerate our mission and deliver value to salons and spas that they never imagined was possible from technology.”
According to data provided by the company, Boulevard is definitely giving businesses a boost. On average, businesses increase bookings by 16%, retail revenue jumps by 18% and gratuity paid out to stylists jumps by 24% for businesses that use Boulevard, the company said. It also reduces no-shows and cancellations, and halves time spent on the phone.
“Boulevard is revitalizing the salon and spa industry, as evidenced by the company’s sustained 300-400% revenue growth over the last three years,” said Damir Becirovic of Index Ventures, whose firm led the company’s Series A round and has doubled down with the new capital infusion.
Customers using the company’s software include: Chris McMillan the Salon, Heyday, MèCHE Salon, Paintbox, Sassoon Salon, SEV Laser, Spoke & Weal and TONI&GUY.
Boulevard now has 90 employees and will look to increase that number as it continues to expand across the country.
Investors have taken a run at the spa market in the past, with company’s like MindBody valued at over $ 1 billion for its software services. Indeed, that company was taken private two years ago in a $ 1.9 billion transaction by Vista Equity Partners.
As Boulevard expands, the company may look to get deeper into financial services for the salons and spas that it’s already working with. Given the company’s window into these businesses’ financing, it’s not impossible to imagine a new line of business providing small business loans to these companies.
It’s something that the founders would likely not rule out. And it’s a way to provide more tools to entrepreneurs that often fall outside of the traditional sweet spot for banks and other lenders, Danna said.
Global Serviced Office Market Revenue Strategy 2026: Instant, Startups, Gorilla Property Solutions, OREGA MANAGEMENT LTD, Clockwise Offices, Prime Office Search, The Work Loft Co., Ltd., Allwork.Space, Regus, CSO, Servcorp, etc. The Haitian-Caribbean News Network
“nigeria startups when:7d” – Google News
We created ClosingBench (www.closingbench.com) and are now looking for a head of sales to lead the future management of the company. Me and my co-founder started it as a side project and got it into a deployment ready solution over the last two years.
But we don’t have the time and focus in experience to scale up the sales effort now. We would see to take someone on board to get the company into its next evolutionary step.
Any referral to a motivated entrepreneurial B2B sales focused mastermind is welcome.
PS: Startup is UK based, but we are European wide. Customers as BAs and VCs are global. First part would be to realise on key accounts of business angel networks.
Welcome to this week’s Peer Support and Self Management Thread.
This is a Safe Place to Vent, Seek Emotional Support, Share Self Management Techniques and Experiences, or Just Rant.
The goal for this thread is to help one another manage mental and physical health so we can more easily find success.
We all struggle sometimes and it is important to recognize that the struggle is part of the journey. The important thing is to learn how to overcome that adversity to grow and succeed.
Be tactful and classy in how you vent your feelings and share your frustrations. Act in a mature manner.
Ask questions, share experiences, and be there for one another. Practice empathy in giving advice and remember that what worked for you isn’t guaranteed to work for others. Make suggestions, not demands of others.
#Because this is meant to be a safe place to support emotional and physical health there is a zero tolerance policy in effect. Be KIND. Be sure to report any conduct that is in violation of that key tenet.
You can also find more support using instant chat on the /r/startups discord.
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The clinical trial management software developer Medable has raised $ 91 million in a new round of financing as life sciences companies struggle with how to conduct the necessary validation studies of new drugs and devices in a pandemically challenged environment.
Digital and decentralized clinical trials are becoming a necessity, given the health and safety guidelines that have been adopted to respond to the COVID-19 pandemic, the company said. And those changes are driving a shift to services like Medable’s as companies move through the approval process, the company said in a statement.
Medable’s software manages recruitment, remote screening, electronic consent, clinical outcomes assessment (eCOA), eSource, telemedicine and connected devices, the company said.
Its software is already being used to work on vaccines and therapeutics targeting COVID-19 specifically in addition to facilitating the development of other potentially life-saving therapies and treatments.
“The pandemic has made the world aware of the importance of clinical drug development,” said Dr. Michelle Longmire, CEO and co-founder of Medable, in a statement. “We need transformative technologies that break down critical barriers to improve patient access, experience and outcomes. This new funding will enable Medable to continue our aggressive pursuit of new technologies that improve clinical trials to benefit all patients.”
Trials underway in more than 60 countries are using the service, and Medable has inked partnerships with companies like Datavant to integrate multiple data sources for decentralized trials; MRN to handle home and remote visits; and AliveCor to track in-home health with electrocardiograms.
I’ve experimented with various time management hacks over the years. The time management hack I’ve found to be most practical and useful is the 4Ds of time management. People will continue to get better and better at their jobs and productivity, yet time management will continue to be an issue in business. We’ll look at the 4D’s of time management first, but what are the 4D’s of negligent time management?
The 4D’s of Time Management
If you’re not familiar with this technique, the 4Ds of time management are: delete, delegate, defer, and do.
- Delete is where you remove unnecessary time-wasters from your schedule, such as projects you never complete or unproductive meetings.
- Delegate is taking tasks that are important but can be assigned to someone else.
- Defer means, essential tasks that don’t need to be handled right now. Schedule these jobs when you have the availability.
- Do is for the jobs (or anything) that take a couple of minutes to finish quickly. Don’t let these micro-tasks pile-up — get them done and over with, now. But, do also means diving directly into a task, building up your momentum and working on a bigger job to get it done.
Personally, using the 4Ds of time management has increased my productivity. How? Using the principle has encouraged me to focus on what truly matters. Also, because this has reduced the number of activities I need to worry about, I’m not cluttering my calendar. The 4D’s have helped prevent decision fatigue, which gives me more mental energy throughout the day.
What’s interesting, however, is that different industries have their variation of the 4D’s. Case in point, the medical industry has the 4Ds of medical negligence. These (negligent areas) are duty, dereliction, direct causation, and damages.
The 4D’s of Medical Negligence.
Recently, I had to visit urgent care. Nothing serious. While waiting to see the doctor, I saw a parallel between the 4Ds of time management and negligence.
I know. That probably shouldn’t have been my main concern. But what can I say? I’m always on the lookout for ways to improve time management. I think the 4D’s of negligence can be helpful in the Calendar, business, and productivity space.
No matter the exact field of expertise — doctors must adhere to strict rules, guidelines, and protocols. Drs listen to the patient and are respectful of their views.
The same system of confidentiality should be practiced in businesses, with customers and client’s financials and other information. A physician must also practice confidentiality. How confidential are we with our clients and customers data, requests, sales, and so forth? In short, Doctors must always provide the best care possible for all of their patients. Do we do the same in business?
Additionally, if the doctor believes that they can not help a patient — they must refer them to someone else. For example, if you have a rotator cuff tear, then your primary physician wouldn’t attempt to do surgery. Instead, your primary care doctor will refer you to physical therapy, and then to an orthopedic surgeon.
How duty relates to time management.
To begin with, whenever you accept a time request, you have a duty to follow through with the job. If you accept a meeting invite — then you need to block that timeframe in your calendar to prevent scheduling conflicts. You will follow through with the meetings set up on your schedule.
Ditching-out on your scheduled appointments at the last minute isn’t done unless there is an emergency. Your doctor doesn’t cancel appointments for no reason. It wouldn’t be very professional for your doctor to visit with two patients in the same room at the same time, either.
You have a responsibility to arrive on-time for your appointments and end the event as scheduled.
Not only is this respectful to the other attendees, but it also protects your time. Have you planned a meeting for thirty minutes, and the meeting ends up being an hour? The lax in protocols change your plans for the day — and creates conflict in everyone’s schedule.
Similarly to the medical duty of time management — if you don’t have the availability — then be honest about this upfront. If your Calendar is packed for the next month, don’t take on any new responsibilities. Don’t keep adding to your duties or accept any meeting invites until you have more time.
Finally, like doctors, if you aren’t an expert — then send your clients and customers to someone who is an expert. Obviously, for those in the medical field — it’s for legal purposes. But, for most of us, this is a simple way to avoid wasting time.
For instance, I just repaired a couple of things at my home. These weren’t difficult, but because I had never done them before — I spent hours on the project. It may have been expensive to hire a maintenance specialist — but I would have saved a ton of time. Next time I’ll call the repairman. I’ll stick with what I am an expert at — for the sake of my business.
Whenever a doctor doesn’t meet expectations or overstepped boundaries, this is called dereliction negligence. Examples would be not providing a clean and safe environment, misdiagnosis, missing a diagnosis, doing unnecessary procedures. Dereliction also includes surgical errors or prescribing the wrong medication.
How dereliction relates to time management.
Did you commit to a new work assignment? If so, that should be your priority. You should also allocate the right amount of time to performing the jobs you said you would accomplish. By Calendaring your tasks and meetings you’ll be sure to meet the deadlines. If you don’t have the time or skills for this exact task, just as a doctor would do, the job should be handed off to someone else whose expert.
Furthermore, dereliction is defined as “the state of being abandoned.”
And, as it just so happens, finishing what you started is one of the best ways to manipulate time to your advantage.
“It’s very common for tasks to get interrupted or delayed throughout your day.” Renzo Costarella wrote previously for Calendar. “Often, it’s best to finish the task at hand before starting new ones.” If you visited your doctor to get stitches, you would expect the doc to finish the job — not leave you half-stitched.
“However, other things may take priority,” adds Renzo. “For example, if a customer needs immediate assistance, it’s probably best to serve them right away.” But, “you need to make a point to return and finish your unfinished duties” after handling the current crisis.
“Again, this sounds simple enough, but it’s common for individuals to get distracted and leave loose ends.”
If there was a dereliction of duty, then it must be proven that the healthcare provider was at fault. Usually, this is straightforward. I’ll give you an example of my personal life. My grandfather went in for simple cataract surgery. But, the doctor operated on the wrong eye. As a consequence, he began to experience vision problems in the wrong eye and he still had a cataract on the original eye.
In this case, the error was obvious. But, other times, errors and mistakes are not so black and white. Let’s say that a patient had a broken arm that didn’t heal properly. Maybe the patient will claim that the error was because the orthopedist did not apply the correct methods to the fractured arm correctly.
However, in the background, we may find out that the patient fell while the cast was on — which was the real causation of further injury. If the patient doesn’t admit the actual error or mistake — it could be challenging to prove that it wasn’t the surgeon’s fault. Dishonesty from the patient causes problems for us all.
How direct causation relates to time management.
Causation and time management fit together like a glove. If you don’t manage your time effectively by holding yourself accountable, there will be negative consequences. You may want to pin the blame on others — but, ultimately, the buck stops with you.
The surgeon who operated on my grandfather’s eye blamed the nurse who prepped my grandpop. But, the doctor should have double-checked the information himself before operating. When it comes to your responsibilities, you can say that you were late for a meeting because your other event ran late. However, if you had built-in a buffer between these meetings, this issue wouldn’t have occurred.
Another example of direct causation is not focusing on meaningful work because you’re getting distracted.
The solution? Identify these distractions and eliminate them. If your phone is the primary causation of your time management lag, then turn it off or put it on do not disturb mode. Behind on your priorities because you’re devoting too much time on unnecessary things? Drop those time-sucks from your to-do-list for the time being.
There are times when you aren’t at fault in business. One way around the vast majority of excuse ridden situations is to schedule white space in your calendar. Leave a block of time blank to catch up and in-between meeting. Leave buffer times in your schedules. If you don’t have anything scheduled use that time to address the unexpected events that occur.
Businesses have a lot of issues that appear as damages. But nothing could be worse than the current medical malpractice issues. Doctors respond to the question, “did the patient suffer physically, mentally, emotionally, or financially?”
The patient is entitled to a monetary amount that would help cover wage losses or medical bills. Damages would also take care of any pain or suffering or emotional distress that the patient has experienced.
How damages relate to business time management.
Poor time management affects every area of your life. Let’s say that you’re aren’t punctual or always rushing from Point A to B. Not only is this stressful, it also puts a strain on your relationships. If you miss a deadline, for instance, you might lose a client. If you are arriving late at home each night — you don’t have a chance to spend quality time with your family.
Other symptoms of poor time management would be procrastination, inability to set goals, and decreased quality of work. Poor time management causes damage in many areas of your business — and certainly in your life.
You’ll find poor time management causes you, your family and your clients and customers to suffer physically, mentally, emotionally, and financially. Unhealthy habits, like eating fast food, not exercising, and getting burned out can be attributed to poor time management.
In other words, poor time management will definitely lead to physical, mental, emotional, and financial distress — and there is no one to blame but ourselves. You aren’t going to recover any monetary amount for slacking on the job and causing yourself and your family pain and suffering. But you can recover monetary setbacks through better time management.
When you feel pain and suffering in business — look to time management for the cure.
The post What are the 4 D’s of Negligence in Time Management? appeared first on KillerStartups.