Startup Funding Espresso -- Start With Your Key Metric
Start With Your Key Metric Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. There are many metrics you can use to guide your startup. In the growth stage, start with your key metric that captures what drives growth. You can either focus on the total number of users or look at the total number of actions the user takes. Look for the value that is created and tie your metric to it. This is typically not revenue but rather what drives revenue. In a SaaS business, it\u2019s the number of contracts signed. In a marketplace business, it\u2019s the number of transactions. In a mobile app, it\u2019s the number of active users. Set a goal to reach each month. Run a series of cohorts in which you apply an action and measure the impact on the metric. As the business grows, you may need to capture a second or third metric to understand what actions provide the best growth. You can apply this method to retention to identify the actions that provide the greatest return. Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.Let\u2019s go startup something today. ___________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: For upcoming Events, check out \xa0 For Feedback please contact info@tencapital.group\xa0\xa0 Please , share, and leave a review. Music courtesy of .