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Startup Metrics [email protected] @timolehes Chalmers Innovation Seed Fund 169 MSEK – Early Stage Tech

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.

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Page 1: SpringCamp Startup metrics

Startup Metrics

[email protected]@timolehes

Chalmers Innovation Seed Fund169 MSEK – Early Stage Tech

Page 2: SpringCamp Startup metrics

Startup tip #1 – Get Traction & Avoid failure

Page 3: SpringCamp Startup metrics

The one who iterates the fastest wins1. You don’t perish 2. You own more of your company3. You outperform competitors

Time to no cash Execution momentum Motivation span

Build, Measure & Learn until you get traction

THERE IS A DUE DATE

Page 4: SpringCamp Startup metrics

Innovation accounting vs Corporate Accounting

Page 5: SpringCamp Startup metrics

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 blogs

2. 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!

Page 6: SpringCamp Startup metrics

What you need - 3 SIMPLE TOOLS

1. Your MVP 2. Business model hypothesis

3. Measurements

What you DON’t need1.A LOT OF OPINIONS, stick to facts2.A business plan3. A Board of directors

Page 7: SpringCamp Startup metrics

1 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 examplesNo of monthly visitors

No of click throughs on siteNo of users signed up

No of active users last 30 daysNo of tweets by usersNo of passive users

3 steps to get going

Page 8: SpringCamp Startup metrics

You need proof points We need proof points We invest in lines not dots

WHY we STARTED SCALEMETRICS

Page 9: SpringCamp Startup metrics

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

We need feedback!

Start Building proof points using SCALEmetrics!

Scalemetrics imports from:

Page 10: SpringCamp Startup metrics

Thank You!

[email protected]@timolehes

timolehes.wordpress.com