Evaluating the Startup’s Metrics
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
In reviewing a startup, ask the founder or CEO for the metrics they use to guide the business.
Check for these points in their metrics:
- Do they have a key set of metrics? Many startups aren’t tracking anything.
- Is the metric appropriate for their type and stage of business?
- Do they have too many metrics? If there are too many, then it will be hard to gain traction on any one of them.
- Is the metric specific or general? The metrics should be specific.
- Are the metrics actionable? One should be able to make decisions on them.
- Are the metrics realistic? You should be able to implement programs and activities based on them.
- Do the metrics cover a specific timeframe? Metrics without a timeframe are meaningless.
- Do the metrics compare with industry standards or the competition? Performance will vary based on the sector and stage you are at.
Use the startup’s metrics as part of your investment decision.
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