Every business runs on metrics. The well-known expression “If you can’t measure it, you can’t improve it” sounds totally legit, but in reality, it is easier said than done. That’s why, an extra focus on metrics and unit economics is crucial.
Yesterday, we, together with impulse.brussels, kicked out the 7th investor readiness workshop that addressed the challenges and essentials of metrics: vanity metrics vs actionable metrics, tools and key guidelines for measuring sales and growth, metrics for marketplace, unit economics and more...
In case you missed it, we picked 5 bits of advice from the workshop:
- Before you figure out which metrics you should be tracking, you need to determine your goals.
- Remember, everything has a cost and can be measured!
- The vanity metrics is not useless, just beware you base your strategic decisions on the real (actionable!) metrics.
- Keep track of your marketing funnel, as it shows where you are and indicates what’s coming next.
- Measure, assess, refine, repeat.
Interested to learn more? Check out the slides.
Are you ready for fundraising?
As of 2017, Startups.be and its partners team up to offer the set of insightful investor readiness workshops all over Belgium. Why? All because, we know, that raising funds is one of the major challenges that startups face. And our aim is to help startups in building lasting and profitable relations with investors - so startups grow and flourish!