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SpringCamp Startup metrics

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This presentation was held by Timo Lehes , founder of Scalemetrics.com, at Chalmers Spring Camp. It cover basics in innvation accounting, startup metrics etc.

This presentation was held by Timo Lehes , founder of Scalemetrics.com, at Chalmers Spring Camp. It cover basics in innvation accounting, startup metrics etc.

Published in Business , Technology
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Transcript

  • 1. Startup Metricstimo@chalmersinnovation.com @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 don’t 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 travelers We think people need a food finding service We think people need help while e-shopping We think people want to buy things on blogs2. Do you have discussions about how to re-design the product 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 usage Separate the big idea questions from customer driven product development!
  • 6. What you need - 3 SIMPLE TOOLS1. Your MVP 2. Business model 3. Measurements hypothesisWhat you DON’t 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 answersA few metrics examples No of monthly visitors No of click throughs on site No of users signed up No of active users last 30 days No of tweets by users No 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 answers Scalemetrics imports from: We need feedback!
  • 10. Thank You!timo@chalmersinnovation.com @timolehes timolehes.wordpress.com