springcamp startup metrics
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Post on 24-May-2015
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DESCRIPTIONThis presentation was held by Timo Lehes , founder of Scalemetrics.com, at Chalmers Spring Camp. It cover basics in innvation accounting, startup metrics etc.
- 1. Startup [email protected] @timolehesChalmers Innovation Seed Fund 169 MSEK Early Stage Tech
2. Startup tip #1 Get Traction & Avoid failure 3. Build, Measure & Learn until you get tractionTHERE IS A DUE DATE Time to no cash Execution momentum Motivation spanThe one who iterates the fastest wins1. You dont perish2. You own more of your company3. You outperform competitors 4. Innovation accounting vs Corporate Accounting 5. Why and what to measure?1. Does your startup have hypothesis or leaps of faith in it? We think people people have a need for a Facebook Fanpage tool We think people need a new picture service for professionals and travelersWe think people need a food finding serviceWe think people need help while e-shoppingWe think people want to buy things on blogs2. Do you have discussions about how to re-design theproduct so that people will use it more? Are users engaging with the product?How many users are dropping off?Which features are used / unused?How many referrals are we getting?Which A/B test was getting higher usageSeparate the big idea questions fromcustomer driven product development! 6. What you need - 3 SIMPLE TOOLS1. Your MVP2. Business model 3. MeasurementshypothesisWhat you DONt need2.A LOT OF OPINIONS, stick to facts3.A business plan4. A Board of directors 7. 3 steps to get going1 Decide which questions you need to answered2 Decide which metrics that help you get the answers3 Start measuring to get some answersA few metrics examples No of monthly visitors No of click throughs on site No of users signed upNo of active users last 30 days No of tweets by usersNo of passive users 8. WHY we STARTED SCALEMETRICS You need proof points We need proof points We invest in lines not dots 9. Start Building proof points using SCALEmetrics!1 Sign-up for Beta www.scalemetrics.com2 Decide which metrics that help you get the answers you need3 Start measuring to get some answersScalemetrics imports from:We need feedback! 10. Thank [email protected]@timolehes timolehes.wordpress.com