How's your company going? Good good. And how do you know? Well... It's definitely harder to answer for some products than other. Especially depending on the stage (early or late). But you should always have well defined goals. And this requires to understand what is a good metric, how you pick it and how you can analyse it. Once you know all that, focusing and making wonders will be muuuuuch easier. Promise.

1. What’s your metric?
Maxime Pico
Startup guide and Partner @ 12MVP
maxime.pico@12mvp.fr
12MVP Copyright © 12MVP All rights reserved.

2. 2
“Though the immediate cause of death
in a startup tends to be running out of
money, the underlying cause is
usually lack of focus”
- Paul Graham
12MVP Copyright © 12MVP All rights reserved.

3. 3
we are all liars
we think our idea is great
12MVP Copyright © 12MVP All rights reserved.

4. 4
you’ve got to stay awake
12MVP Copyright © 12MVP All rights reserved.

5. 5
you’ve got to stay awake
12MVP Copyright © 12MVP All rights reserved.

6. 6
you’ve got to stay awake
12MVP Copyright © 12MVP All rights reserved.

7. 7
you’ve got to stay awake
12MVP Copyright © 12MVP All rights reserved.

8. 8
“Though the immediate cause of death
in a startup tends to be running out of
money, the underlying cause is
usually lack of focus”
- Paul Graham
12MVP Copyright © 12MVP All rights reserved.

9. 9
analytics is the key
“Analytics is the measurement of movement
towards your business goals”
“In a startup, the purpose of analytics is to iterate
to product/market fit before money runs out”
12MVP Copyright © 12MVP All rights reserved.

10. 10
lean cycle
IDEA
BUILD
PRODUCTDATA
LEARN
MEASURE
12MVP Copyright © 12MVP All rights reserved.

11. 11
measuring and data is hard
I have two kids, at least one
is a girl
12MVP Copyright © 12MVP All rights reserved.

12. 12
measuring and data is hard
What are the chances that the
other one is a boy?
12MVP Copyright © 12MVP All rights reserved.

13. 13
measuring and data is hard
BB
GB
BG
GG
12MVP Copyright © 12MVP All rights reserved.

14. 14
measuring and data is hard
BB
GB
BG
GG
12MVP Copyright © 12MVP All rights reserved.

15. 15
someone who knows his sh*t
?
12MVP Copyright © 12MVP All rights reserved.

16. 16
what is a good metric?
Understandable
Comparative
Ratio or a Rate
Behaviour metric
12MVP Copyright © 12MVP All rights reserved.

17. 17
always add qualitative data
“Unstructured, anecdotal, revealing,
hard to aggregate, often too positive &
reassuring”
12MVP Copyright © 12MVP All rights reserved.

18. 18
trying to predict the future
Lagging vs Leading
12MVP Copyright © 12MVP All rights reserved.

19. 19
trying to predict the future
Correlation vs Causation
12MVP Copyright © 12MVP All rights reserved.

20. 20
having super powers
Leading
+
Causal
12MVP Copyright © 12MVP All rights reserved.

21. 21
cohort analysis
January February March April May
Revenue/customer €5,00 €4,50 €4,33 €4,25 €4,50
12MVP Copyright © 12MVP All rights reserved.

22. 22
January February March April May
Revenue/customer
arrived in Jan
€5,00 €3,00 €2,00 €1,00 €0,50
cohort analysis
12MVP Copyright © 12MVP All rights reserved.

23. 23
January February March April May
Revenue/customer
arrived in Jan
€5,00 €3,00 €2,00 €1,00 €0,50
Revenue/customer
arrived in Feb
€6,00 €4,00 €2,00 €1,00
cohort analysis
12MVP Copyright © 12MVP All rights reserved.

24. 24
January February March April May
Revenue/customer
arrived in Jan
€5,00 €3,00 €2,00 €1,00 €0,50
Revenue/customer
arrived in Feb
€6,00 €4,00 €2,00 €1,00
Revenue/customer
arrived in Mar
€7,00 €6,00 €5,00
cohort analysis
12MVP Copyright © 12MVP All rights reserved.

25. 25
January February March April May
Revenue/customer
arrived in Jan
€5,00 €3,00 €2,00 €1,00 €0,50
Revenue/customer
arrived in Feb
€6,00 €4,00 €2,00 €1,00
Revenue/customer
arrived in Mar
€7,00 €6,00 €5,00
Revenue/customer
arrived in April
€8,00 €7,00
cohort analysis
12MVP Copyright © 12MVP All rights reserved.

26. 26
January February March April May
Revenue/customer
arrived in Jan
€5,00 €3,00 €2,00 €1,00 €0,50
Revenue/customer
arrived in Feb
€6,00 €4,00 €2,00 €1,00
Revenue/customer
arrived in Mar
€7,00 €6,00 €5,00
Revenue/customer
arrived in April
€8,00 €7,00
Revenue/customer
arrived in May
€9,00
cohort analysis
12MVP Copyright © 12MVP All rights reserved.

27. 27
January February March April May
Number of new
visitors
1000 1000 1000 1000 1000
Total visitors 1000 2000 3000 4000 5000
Revenue/customer €5,00 €4,50 €4,33 €4,25 €4,50
Revenue/customer
arrived in Jan
€5,00 €3,00 €2,00 €1,00 €0,50
Revenue/customer
arrived in Feb
€6,00 €4,00 €2,00 €1,00
Revenue/customer
arrived in Mar
€7,00 €6,00 €5,00
Revenue/customer
arrived in April
€8,00 €7,00
Revenue/customer
arrived in May
€9,00
cohort analysis
12MVP Copyright © 12MVP All rights reserved.

28. 28
what should you look at?
Vanity — Life — Key
12MVP Copyright © 12MVP All rights reserved.

29. 29
default - dead or alive?
12MVP Copyright © 12MVP All rights reserved.

30. 30
AARRR funnel
ACQUISITION
ACTIVATION
RECOMMANDATION
REVENUE
RETENTION
How did they hear about
your product?
How do users subscribe? Do
they explore your website?
Are the users recommending
your website?
How much money do you make
out of each customer?
Is a user coming back after
his first visit?
12MVP Copyright © 12MVP All rights reserved.

31. 31
stages of growth
bit.ly/BigLeanTable
12MVP Copyright © 12MVP All rights reserved.

32. 32
12MVP Copyright © 12MVP All rights reserved.

33. 33
let’s craft it!
12MVP Copyright © 12MVP All rights reserved.