This document discusses the importance of choosing metrics that matter for startups. It recommends focusing on a "North Star Metric" that measures customer value delivery over time. Key drivers that influence the North Star Metric should also be identified, including a "rate limiting step". The document provides examples and discusses aligning company work to optimizing these core metrics. It cautions against common pitfalls like focusing on revenue over value or getting stuck in analysis.
PPT: 3 things that drive marketers crazy by Patricia ChristiansenPatricia Christiansen
The talent and knowledge that marketing brings to any organization can have a tremendous impact on business success. Learn about 3 challenges that every marketer faces and some tips on how to use digital marketing to help.
Rant: It's About Time for Real-Time TV MeasurementSteve West
We get it—your audience is a tough bunch. They’re multi-channel, tech-savvy consumers who have complete control of their experience with your brand.
Your need to understand their demands and behaviors is immediate, and TV hasn’t been up to the challenge—until now.
Go ahead… read our rant. Real-time TV measurement is here and we need to tell you about it.
PPT: 3 things that drive marketers crazy by Patricia ChristiansenPatricia Christiansen
The talent and knowledge that marketing brings to any organization can have a tremendous impact on business success. Learn about 3 challenges that every marketer faces and some tips on how to use digital marketing to help.
Rant: It's About Time for Real-Time TV MeasurementSteve West
We get it—your audience is a tough bunch. They’re multi-channel, tech-savvy consumers who have complete control of their experience with your brand.
Your need to understand their demands and behaviors is immediate, and TV hasn’t been up to the challenge—until now.
Go ahead… read our rant. Real-time TV measurement is here and we need to tell you about it.
Building the Billion Dollar SaaS Unicorn: CEO GuideKelly Schwedland
In a Venture Capital world that is obsessed with growth, recurring revenue and software as a service, after you validate that you have a solution that people are willing to pay for, there is an entire new world ahead of you in scaling that venture. For many, this involves an entirely new language and set of metrics to manage the business. For the startup that wants to make the leap to scale up and fast growth this should serve as a starting point for key insights and metrics for that journey.
Leverage all the customer data you have collected over the years and use these simple data analytic techniques to align your marketing expense better and identify your best customers.
How I shifted My Business One Subscription At A Time (Subscribed13) Zuora, Inc.
Informatica - Ron Papas, SVP Subscriptions
Nintex - Ryan Duguid, VP Product Management
Are you looking to transition your traditional software business to the subscription economy but aren't sure how? Come hear from two on-premise software providers about how their companies are making the, and the lessons they learned.
Presented at the NY & LA 2018 Accounting & Fiance Shows. Learn how to analyze the economics of your business to build a strong and stable startup business model
This guide will introduce you to the essential metrics and methods of starting a Software-as-a-Service business, including what’s often overlooked.
We’ve broken it up into 3 steps:
- Step 1: Track Key Metrics (Churn Rate, Customer Acquisition Cost, Lifetime Value...)
- Step 2: Metric Decomposition (Not all metrics are created equal)
- Step 3: Marketing Strategies (How to keep customers coming back to your site)
Customer, market and business validation for early-stage startupsJeff McClelland
A collection of tips on how to go about validating your offer to customers, choose a market, and scope a business. Touches on JTBD, lean startup, business model canvas. Also a brief case study on TransferWise and the keys to it's success.
The One-Two Punch: How To Combine Email & Direct Mail For Knockout Marketing ...Aaron Corson
On April 1st, 2010 Tom Ruwitch of MarketVolt and Aaron Corson of MarketPath hosted a seminar for marketers called The One-Two Punch: How to Combine Email & Direct Mail for Knockout Marketing Results at Spazio's in St. Louis. The event and integrated campaign used to promote it, was a resounding success and ultimately led to over 170 leads for their respective businesses.
Mark Roberge is a Senior Lecturer with Harvard Business School, former CRO of Hubspot and author of bestseller "The Sales Acceleration Formula". Join him as he takes you through his step by step guide to revenue growth.
What is the most important thing that changes during times of recession? Customer behavior. Building a good customer experience through experimentation can help retain existing customers, strengthen brand loyalty, and gain valuable insights.
Building a Financial Model That Actually WorksIntelligent_ly
What is a financial model? Learn about how to create a bottoms up financial model, revenue assumptions, sales assumptions, marketing assumptions, general and administrative assumptions, and cash flow statements and balance sheets. Building a Financial Model That Actually Works. A class taught by Dan Allred (SVB) and Matt Nichols (Gemvara) at Intelligent.ly's Boston campus. To learn more from the experts, visit http://intelligent.ly/learn
Building the Billion Dollar SaaS Unicorn: CEO GuideKelly Schwedland
In a Venture Capital world that is obsessed with growth, recurring revenue and software as a service, after you validate that you have a solution that people are willing to pay for, there is an entire new world ahead of you in scaling that venture. For many, this involves an entirely new language and set of metrics to manage the business. For the startup that wants to make the leap to scale up and fast growth this should serve as a starting point for key insights and metrics for that journey.
Leverage all the customer data you have collected over the years and use these simple data analytic techniques to align your marketing expense better and identify your best customers.
How I shifted My Business One Subscription At A Time (Subscribed13) Zuora, Inc.
Informatica - Ron Papas, SVP Subscriptions
Nintex - Ryan Duguid, VP Product Management
Are you looking to transition your traditional software business to the subscription economy but aren't sure how? Come hear from two on-premise software providers about how their companies are making the, and the lessons they learned.
Presented at the NY & LA 2018 Accounting & Fiance Shows. Learn how to analyze the economics of your business to build a strong and stable startup business model
This guide will introduce you to the essential metrics and methods of starting a Software-as-a-Service business, including what’s often overlooked.
We’ve broken it up into 3 steps:
- Step 1: Track Key Metrics (Churn Rate, Customer Acquisition Cost, Lifetime Value...)
- Step 2: Metric Decomposition (Not all metrics are created equal)
- Step 3: Marketing Strategies (How to keep customers coming back to your site)
Customer, market and business validation for early-stage startupsJeff McClelland
A collection of tips on how to go about validating your offer to customers, choose a market, and scope a business. Touches on JTBD, lean startup, business model canvas. Also a brief case study on TransferWise and the keys to it's success.
The One-Two Punch: How To Combine Email & Direct Mail For Knockout Marketing ...Aaron Corson
On April 1st, 2010 Tom Ruwitch of MarketVolt and Aaron Corson of MarketPath hosted a seminar for marketers called The One-Two Punch: How to Combine Email & Direct Mail for Knockout Marketing Results at Spazio's in St. Louis. The event and integrated campaign used to promote it, was a resounding success and ultimately led to over 170 leads for their respective businesses.
Mark Roberge is a Senior Lecturer with Harvard Business School, former CRO of Hubspot and author of bestseller "The Sales Acceleration Formula". Join him as he takes you through his step by step guide to revenue growth.
What is the most important thing that changes during times of recession? Customer behavior. Building a good customer experience through experimentation can help retain existing customers, strengthen brand loyalty, and gain valuable insights.
Building a Financial Model That Actually WorksIntelligent_ly
What is a financial model? Learn about how to create a bottoms up financial model, revenue assumptions, sales assumptions, marketing assumptions, general and administrative assumptions, and cash flow statements and balance sheets. Building a Financial Model That Actually Works. A class taught by Dan Allred (SVB) and Matt Nichols (Gemvara) at Intelligent.ly's Boston campus. To learn more from the experts, visit http://intelligent.ly/learn
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Normal Labour/ Stages of Labour/ Mechanism of LabourWasim Ak
Normal labor is also termed spontaneous labor, defined as the natural physiological process through which the fetus, placenta, and membranes are expelled from the uterus through the birth canal at term (37 to 42 weeks
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
10.
METRICS
YOU GET WHAT YOU MEASURE ALIGN AND
FOCUS THE TEAM A DOUBLE - EDGED
SWORD
IF YOU MEASURE THE WRONG THING
11. WWW. STARTUPCORESTRENGTHS .COM
MATT LERNER – FOUNDER & CEOSilicon Valley
veteran (4 startups: ! ," , # , and $ )
Growth team @ PayPal
Partner @ 500 Startups VC
12. Lectures at Stanford Business School, Imperial Founder
of Startup Core Strengths – Coaching Program
StartupCoreStrengths.com/playbook (it’s free)
WWW. STARTUPCORESTRENGTHS .COM
GOOD METRICS
HOW DO TARGETS CAUSE SUCCESS?
19. HOW DO YOU MEASSURE VALUE DELIVERED?
WWW. STARTUPCORESTRENGTHS .COM
20.
WHAT IS CUSTOMER VALUE DELIVERY ?
You deliver value when you help customers make progress
in their lives.
What measurable customer behavior is the closest proxy for
that “value delivery”?
If customers absolutely loved your product or service, how
would they naturally behave?
How many of them are behaving like this?
(Track in cohorts, improve over time.)
22. WWW. STARTUPCORESTRENGTHS .COM
THREE KEY TYPES OF METRICS
1. North Star Metric – Customer behavior that
encompasses the whole funnel or marketplace, and
increments when value is delivered to both customer
and the company.
2. Key Drivers – 1-3 Measured first-order impacts of the
23. work you do each day to maximise the NSM.
(One of these is your “rate limiting step”)
3. Nuance Metrics – Important numbers to watch,
maintain in a range, but not maximise.
WWW. STARTUPCORESTRENGTHS .COM
WHAT IS YOUR NORTH STAR METRIC ?
North Star Metric Increments when we deliver value to both
customer and company in a natural way where customers
and company behave as expected.
1. Simple & memorable for the whole company
24. 2. Represents the full funnel including new, engaged and
churned users.
3. Does not change often (e.g. every few years max)
4. Everyone can connect their work to this number
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A SIMPLE EXAMPLE
26. WAUs (Retained + New Actives) + Lapsed
Convert to Paid Plan
Make More Wireframes, Share, etc.
Make First Wireframe
Trial Account
Qualified Traffic
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EXAMPLE NORTH STAR METRICS
If customers absolutely loved your product or service, how would they naturally
27. behave?
B2B
B2C
Slack – Daily Active Users (DAUs)
Amplitude – Weekly querying users
PayPal – Total Payment Volume (TPV)
Hubspot - # of weekly active teams
MARKETPLACES
AirBnB – Nights booked Facebook – DAUs
Quora – Number of answered Medium –
Minutes Read
Your NSM is typically a transaction where two sides come together.
WWW. STARTUPCORESTRENGTHS .COM
28. WHAT IS YOUR NORTH STAR METRIC ?
North Star Metric Increments when we deliver value to both
customer and company in a natural way where customers
and company behave as expected.
1. Simple & memorable for the whole company
2. Represents the full funnel including new, engaged and
churned users.
3. Does not change often (e.g. every few years max)
4. Everyone can connect their work to this number
WWW. STARTUPCORESTRENGTHS .COM
29.
KEY DRIVERS
Key Drivers are the customer behavior “levers” you pull each day
to maximize the North Star. They:
1. Are controllable customer behaviours.
2. Select only a few (1-3)
3. Often, it’s a ratio (e.g. activation rate, signup rate).
4. Revisit every 3 months.
5. Each one should have an owner and target.
30. WWW. STARTUPCORESTRENGTHS .COM
EXAMPLE CUSTOMER VALUE KEY DRIVERS
Mission
“Provide simple,
affordable, secure and
reliable digital payments
to…millions of people
around the world.”
“To offer our customers
the lowest possible prices,
the best available
selection, and the utmost
convenience”
“To give people the power
to build community and
bring the world closer
together.”
North Star
Total Payment Volume Repeat Purchases Daily Active
Users
Key Drivers
Ubiquity
(be available at every
transaction point)
Preference
(be every consumer’s
preferred payment method)
Price
Selection
Convenience
DAUs by product, number
of products
Registered users, user
frequency
31. Invites, follows, post count,
post engagement, etc.
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YOUR RATE LIMITING STEP
Which of these metrics, if improved, makes the whole system
run better?
Find it. Focus on it.
32. WWW. STARTUPCORESTRENGTHS .COM
YOUR KEY DRIVERS
Monthly Recurring Revenue (MRR)
Subscribers * Avg Plan Cost
WAUs (Retained + New Actives) + Lapsed
Convert to Paid Plan
Make More Wireframes, Share, etc.
33. Make First Wireframe
Trial Account
Qualified Traffic
WWW. STARTUPCORESTRENGTHS .COM
WHAT ARE YOUR KEY DRIVERS ?
Which main levers cause your “value delivery metric” to go up?
Which customer behavior best tracks those levers?
35. curve
Key Driver:
How would people naturally behave if they loved
your product?
What early life behavior pattern predicts retention?
That’s the habituation threshold
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Monthly Cohorts
What % of new signups cross that line?
Starts with finding your habituation threshold
How much of your revenue is coming from
habituated customers? (Happy MRR) vs. New
customers vs. At-Risk ones?
WWW. STARTUPCORESTRENGTHS .COM
36.
YOUR HABITUATION THRESHOLD Monthly
Recurring Revenue (MRR)
Subscribers * Avg Plan Cost
WAUs (Retained + New Actives) + Lapsed
Convert to Paid Plan
Make More Wireframes, Share, etc. å
Make First Wireframe
Trial Account
Qualified Traffic
37. WWW. STARTUPCORESTRENGTHS .COM
WHAT ARE YOUR KEY DRIVERS ?
Which main levers cause your “value delivery metric” to go up?
Which customer behavior best tracks those levers?
Which one is your rate limiting step?
Who “owns” each of these key metrics?
38. WWW. STARTUPCORESTRENGTHS .COM
WHAT ARE YOUR NUANCE METRICS ?
Nuance Metrics are important “read only” numbers (watch but
not maximise). Make sure they stay within an acceptable range.
Many are drivers, but not “key” drivers
Sometimes they are not directly controllable
39. Helpful if they explain variations in the North Star
Often a “check” number that should stay in a certain range
WWW. STARTUPCORESTRENGTHS .COM
DOES THIS CHANGE
IF YOU DO NOT HAVE PRODUCT - MARKET FIT ?
40. WWW. STARTUPCORESTRENGTHS .COM
“If your product is broken and people are still using it, if you have high retention with a
broken product, that’s a clear sign you have PMF.”
41. Elad Gil
WWW. STARTUPCORESTRENGTHS .COM
BE HONEST WITH YOURSELF
Pre-PMF
Post-PMF Post-PMF
“The Hunt” “The Sprint” “The Marathon”
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43. customer learning:
1. Strength of fit – e.g. conversion rates,
activation rates, easy to sell, referral rates,
retention
2. Pace of learning – experiments run per week
Tips: First validate the need. Look for
“language-market fit”
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BRINGING YOUR METRICS TO LIFE
46. THE PROCESS
The leverage is in which work you choose to do.
Your goal is to get everyone doing the most impactful work, making
good tradeoffs about how to spend their time and budgets.
Each person must understand the North Star, and be able to connect
their work to it. (OKRs)
And that should empower them to make good “resource allocation”
decisions for how to move that metric, as the expert in their
domain.
Keep asking “Which is the most important work, and how is it going?”
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47. COMMON PITFALLS
Data should help us focus, make good
decisions quickly and keep executing.
X Focusing on revenue, not value delivery X
Chasing too many metrics
X Analysis paralysis (e.g. attribution, retention)
X Obsessed with a local maximum
48. WWW. STARTUPCORESTRENGTHS .COM
RECAP
North Star Metric of Value Delivery, endures over time
Focus on 1-3 Key Drivers, including your rate limiting step, revisit
focus every 3 months.
If pre-PMF, key drivers focus you on fast learning and fit-deepening
For retention, figure out your habituation threshold & work backwards
Each key driver gets a single accountable person.
Questions for each employee:
Do they understand how their work affects the NSM?
49. Do they understand their key driver?
Can they make good tradeoffs re. investments of time and budget, and
focus them on the most impactful work?
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YOUR HOMEWORK: 5 QUESTIONS
1. A conversation with your CEO, Head of Product, Head
of Marketing, Finance + Analytics. Figure out:
1. What’s your North Star Metric?
2. What are your 1-3 biggest drivers of that metric,
company-wide?
3. What’s your “rate-limiting step”?
2. Ask each employee: “How does your work each day
50. impact our North Star?” (Check for alignment &
comprehension)
3. Regularly ask each employee or team: “What’s the
most important work, and how’s it going?”
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MEASURE TWICE CUT
ONCE