Startup Metrics

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Session on Metrics delivered to Wayra (early stage) Startups on Bootcamps celebrated in Madrid and Barcelona on March - April 2013. @marcoseguillor www.marcoseguillor.com

Text of Startup Metrics

  • Startup Metrics Wayra BCN & MAD Bootcamp, March April 2013 April 2013 Marcos Eguillor @marcoseguillor www.marcoseguillor.com
  • @marcoseguillor www.marcoseguillor.com Startup Metrics20130112 @marcoseguillor
  • Objectives of the session Apprehend the Metrics of a Startup: Why, what, how Relate Startup Business Model and Value Proposal to Phasing of a project and Metrics Assess Customer Lifecycle in term of Metrics Identify and Funnel Metrics for your Business Prepare Metrics for pitching Wayra Startup Metrics >3 Bootcamp @marcoseguillor
  • WHY Startup Metrics @marcoseguillor
  • your Value Proposal is how you get attention Startup Metrics @marcoseguillor
  • your Business Model is how you get interest Startup Metrics @marcoseguillor
  • yourplan is how you getanalyzed Startup Metrics @marcoseguillor
  • yourteam is how you getcredibility Startup Metrics @marcoseguillor
  • yourMVP is how you getengagement and validation Startup Metrics @marcoseguillor
  • yourMetrics is how you get the deal Startup Metrics @marcoseguillor
  • need any more reasons? Startup Metrics @marcoseguillor
  • need any more reasons? For the Founding Team1. Focus on your design/execution Be coherent Iterate/pivot based on findings, not just gut feeling Startup Metrics @marcoseguillor
  • need any more reasons? For your Team2. Have a (clear and profitable) goal Startup Metrics @marcoseguillor
  • need any more reasons? For your Investors3. Assess whether know what youre doing Know more about the business Reduce uncertainty Evaluate the opportunity (current and future) Startup Metrics @marcoseguillor
  • need any more reasons? #FUD Fight Fear Uncertainty Doubt Startup Metrics @marcoseguillor
  • WHAT Startup Metrics @marcoseguillor
  • Financial MetricsOperational Metrics Startup Metrics @marcoseguillor
  • Financial Metrics cash flow ROI NPV WACC 5 year projections blah blah blah* Startup Metrics* When speaking about Startups in their first heart-beats @marcoseguillor
  • Financial Metrics Startup Metricshttp://i190.photobucket.com/albums/z57/lighthouse_emporium/no-bullshit.jpg @marcoseguillor
  • Financial Metrics Revenue rate vs. Burn rate(i.e. When would you run out of cash) Startup Metrics @marcoseguillor
  • Financial MetricsOperational Metrics Startup Metrics @marcoseguillor
  • total subscribers unique monthly users pages viewed CPx blah blah blah Operational Metrics Startup Metrics @marcoseguillor
  • but, are they really relevant to your business? Operational Metrics Startup Metrics @marcoseguillor
  • Operational Metrics What is your business about? What is your Value Proposition? What is it that perfectly and accurately defines the core of your business? Startup Metricshttp://farm8.staticflickr.com/7012/6667395893_4ee82710e1.jpg @marcoseguillor
  • Operational Metrics What is a key driver to the business and needs to happen in order to succeed with it? Startup Metricshttp://www.coachfederation.org/includes/media/images/Business-Model-Canvas.jpg @marcoseguillor
  • Operational Metrics Metrics = f(type, stage)business Proto MVP B2B, B2C, B2B2C Comercially available Retail, Banking, Internet, (with REVENUE) Media Biotech, etc. Expansion, etc. Startup Metrics @marcoseguillor
  • Operational Metricsa Good Metric is ? What is a good Metric? Startup Metrics @marcoseguillor
  • Operational Metricsa Good Metric is relevant Tells you something KEY about YOUR biz at THIS moment. Its an add-on for your Tweet-Pitch Startup Metrics @marcoseguillor
  • Operational Metricsa Good Metric isactionable It allows you to decide, take actions, move forward. It ties to specific and repeatable actions Startup Metrics @marcoseguillor
  • Operational Metricsa Good Metric is x/y A ratio. Truth is relative. Make you Metric relative Startup Metrics @marcoseguillor
  • Operational Metricsa Good Metric is ab Something comparable; now vs. then, here vs. there, this vs. that, they vs. us Startup Metrics @marcoseguillor
  • Operational Metricsa Good Metric is Listen to the outside Be humble Learn from others ab Something comparable; now vs. then, here vs. there, this vs. that, they vs. us Startup Metrics @marcoseguillor
  • Operational Metricsa Good Metric is KISS SIMPLEdefine, simplemeasure, simpletrack, simpleact-upon, simplecommunicate, simpleunderstand Startup Metrics @marcoseguillor
  • Operational Metricsa Good Metric is today tomorrow Something that moves you forward, helping accurately predict and get your goal Startup Metrics