What Metrics to Use at Your Startup
Today, we’re talking about what metrics to use at your startup.
First of all, your core metric of success should be either revenue, how much money you’re making, or engagement, how many people rely on your service.
Next I like to look at your business as a simple funnel, where you measure: distribution, user engagement and churn.
When selecting the actual metrics to use for each of these categories, make sure they hold you accountable and measure real progress. For example, don’t use a metric like website hits or app downloads to measure your distribution, instead measure qualified leads. Don’t measure Monthly or weekly active users, look at daily users. And don’t use $ churn to measure people leaving your service, look at actual user churn.