How Startups Metrics Can Help You Measure Your Startup Progress?

Yiannis Kourtakis — Tue, 05 Apr 2022 05:33:08 +0000

It is very important for startups to perform in order to gain the trust of these funding sources if they aim to achieve success in their respective fields. The best way to achieve such accomplishment for these new ventures is by monitoring their startup metrics. Keeping an eye over these startup metrics will help you ward away too many distractions and allow you to focus on specific goals without any pressure.

Metrics helps in measuring the overall progress irrespective of the platform. Monitoring your startup progress will let you determine if your venture is on a positive path of growth or failing in the process.

So, if you are a startup owner, then I would strictly recommend you to follow these startup metrics if you wish to take your startup to a next level.

Lets, take a look at the startup metrics one by one:

Customer Acquisition:

Customers are definitely the key to measure the success rate of your business. However, in the startup industry, there are multiple sources and platform from where you could acquire customers effectively. In order to acquire more customers on daily or monthly basis, you must monitor the previous customer acquisition flow. You must accumulate the data by sorting your customers into source, platform and device. This data would help you to determine the right focus zone to attract more customers in the future. Customer acquisition is definitely the most important startup metric as it helps in growing your business smartly.

Churn Rate:

In the current world of Mobile App based startups or any other desktop or web based applications, the startup metric defining the churn rate is highly important. Many startups boast about its user growth and deem that as a success factor. Although true to some extent, just having a large user base is not enough if these users leave or unsubscribe almost in a span of a few months or let’s say after an annual subscription. The churn rate is quite decisive to measure the success of a startup as it defines whether the users are loving the product/service or not.

Lifetime Value of a Customer:

Although there are millions of users active on Google and Facebook, these are not their real customers. Among these users, the ones who buy ads or subscribe to their premium services are the real customers. Hence, these giant companies often keep a track on the LTA (i.e. Lifetime Value of a Customer) as this is one such metric that would let you understand how many customers you require or need every month to get your startup on a growth track. Many startups estimate such data as they don’t have enough numbers to play with. Hence, even as an estimation, such data can be very important to set the right goals from the beginning.

Revenue Metrics:

A startup operates basically to generate revenue. However, never treat your startup as a machine that simply produces money even though it’s a hot favorite among your customer base. To run a startup as a long term business venture, you must understand the different streams as well as different factors responsible to generate good revenue. These factors and streams comprise together as revenue metrics. Following these metrics, you can identify the processes that requires prioritization while you can always ignore or either remove the ones that do not. This way, you can also understand the user trends and determine the type of services/products, they are willing to pay for. There are users who may like to subscribe the product/service at a feasible monthly or yearly rate while others may spend extra to get the lifetime membership. Revenue metrics would help you understand these intents of the users and help you focus on the most favored subscription options.

Quality:

The quality of a startup is not limited to the user-friendliness of its product or service alone. Instead of merely depending upon the developers or designers for monitoring the bugs or crashes, you can always allow the users to submit such reports when they experience any crashes or find any bugs while using the App. Such data would help you improve the quality of your product or service to the highest level.

Salesman Metrics:

Almost every startup around the world has a sales team in place in order to generate sales, leads or referrals for the startup venture. Monitoring the salesman metrics can help you sort the best performers from the non-performers in the team. Most importantly, you can always train the new sales team using these metrics that would give a rough idea on number of calls per day, recommended call length, etc. You can always record these sales calls and pick some conversations in order to train your team during meetings or training sessions. Salesman metrics would also help you decide whether you need to extend or reduce the sales team for the future.

Conclusion:

The startup metrics discussed above are the basics that every startup must follow in order to achieve success in their respective industry as well as staying one step ahead of the competition. However, the prioritization of these metrics may vary depending on the type of the industry your startup belongs to.

So, if you’re not already monitoring these startup metrics, then its time to hold a meeting with your core team and set up measures to assess these metrics as soon as possible. Any metric you miss from the above from now is the opportunity missed improving your startup venture.

Go ahead. Start measuring your startup now!

Yiannis is the planning manager of Art On Web. Art On Web focuses on responsive website design with Joomla, technical support of Joomla websites and provides SEO services to help companies achieve their goals.

4 Ways To Write Amazing Articles By Becoming A Creative Genius

Yiannis Kourtakis — Sun, 27 Mar 2022 07:04:54 +0000

Have you ever caught yourself staring at the computer screen and having no idea what to write? If you want to make money from your blog it's not exactly going to lead you on the path to success. You need to be putting out regular articles. It doesn't need to be more than once per week, but even one article is still hard when it has to be absolutely perfect. You do know it has to be perfect, right? You can't just put out anything in the hope that people find it, because even though they'll visit your site they won't stay for very long if they don't like what they read. That means they definitely won't buy from you.

You need to find a way to always have something to write. You need to increase your creativity to higher levels than it's ever been before. There's lots of ways you can do this, but some of them are rubbish and you'll be wasting your time. To unlock the true power of your mind you have to understand how good ideas happen and what to do when they appear. Let's find out exactly what you should be doing and you'll never be stuck for anything to write about again. That means happy readers and lots more money.

Evernote app (or a notepad)

Every time when you least expect it a thought will pop into your head. Some of these thoughts will be genius ideas that will disappear forever if you don't write them down. Evernote is an amazing app you can get for your Smartphone and it will let you record every idea in the world. If you are old school and don't carry a Smartphone about with you then carry a notepad. There's nothing better than whipping your notepad out and jotting down all your great ideas while you're doing the shopping. Once you think of one they will keep popping out. Image: Creative Commons image source

Live your niche

If you live your niche you will have much more ideas and will never be left without anything to say. Living your niche doesn't mean doing research 24/7 in the library. Sometimes you need to roll your sleeves up and get dirty. Join a club that's centered around your niche, or if you speak about a disease you can go around interviewing people that are suffering from it. Everything will all depend on what your business is actually about, but just know that sometimes you need to step away from the computer.

Leave it on the boil

You have written down your idea, or it's available in your head. The last thing you want to do is start writing an article. You are shooting yourself in the foot. Grab a piece of paper and write down some random sentences that you think the article should cover. You can even think of specific sub-headings if you want. The trick is to put it away in a drawer and leave everything boiling away inside your mind. Your mind will be working overtime coming up with new ideas. When you start writing the article you'll have thought of much more stuff.

Edit more than twice

It's important you edit something more than twice. Not because you have missed spelling mistakes, but because you will always think of something better to write in a few particular sentences. You might not think that means much because it's only a few sentences. It means a lot and a few of these key sentences could be the best parts of the article. When you're only posting one article per week you have plenty of time to do all these things. You'd be crazy not to.

Yiannis is the planning manager of Art On Web.
Art On Web focuses on responsive website design with Joomla, technical support of Joomla websites and provides SEO services to help companies achieve their goals.

DEV Community: Yiannis Kourtakis

How Startups Metrics Can Help You Measure Your Startup Progress?

Lets, take a look at the startup metrics one by one:

4 Ways To Write Amazing Articles By Becoming A Creative Genius