Metrics · Startups

What is the best way to define your ONE main metric?

Jan Asimov Marketing Manager at Startups

September 20th, 2016

Regardless of the stage, location, and stage of the business, is there a good framework to use in order to identify and define the metric that you should focus and obsess about in order to take your company to another level?
Growth hacking isn’t about quick wins and shortcuts, although they exist. In this course, we’ll cover the six-step growth hacking framework, how to measure user retention for your business, how to increase engagement and retention, and a bunch of case studies.

Peter Baltaxe Consultant, product leader, serial entrepreneur

September 20th, 2016

Revenue.

Focusing on revenue in the earliest stage insures that you have product-market fit, meaning that customers are willing to pay you for your product/service.

In the next stage of the company, revenue growth will mean you have customer traction which will make fund raising much easier.

As you grow revenue, it will lead to profitability, which means that ultimately you can choose to raise money if you are looking to accelerate; but you have the luxury of raising money on your terms, because you don't have to raise money to keep going.

And keep an eye on attrition, retention, NPS and other indicators of customer satisfaction as they will flow through to revenue.

Gabe Micchelli Business Development and Marketing Professional - Medical Devices

September 22nd, 2016

There is no one metric. The business owner needs a dashboard of metrics to manage every day. But if I’m assessing the viability and vitality of my business at any given time, I’m looking at profit. Aggregate and unit profit tell the story. The business may be in debt, there may be cash flow issues, labor shortfall, vendor problems, pricing problems, collection delays and a variety of other things. Those costs need to be tracked and resolved but the one thing the business needs is to track its ability to create ongoing profits from sales.