How to measure your startup’s success

Kandu expert Ozoda Muminova demystifies the best metrics to set to measure your startup’s progress

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I’ve noticed that most start-up founders on Kandu are asking for help with metrics and KPIs (in return for coffee or lunch). Desire to set and track KPIs is not surprising. It is difficult to make a company successful without measuring progress and focusing on the right areas and customers. In addition, if you are trying to attract investors, clients and partners, KPIs measured correctly, give them a clear analytical snapshot on the state of your start-up.

Of course, what metrics and KPIs a start-up needs to track depends on the sector, products/services offered, size of company, stage of growth, etc. But I’d like to offer some of the most commonly tracked metrics. And if you’d like them customised for your start-up, find me on Kandu, take me out for lunch and we can talk!

Digital KPIs

For start-ups that have apps, web sites or online games, it is important to monitor digital traffic, engagement and conversion metrics:

Financial KPIs

Your finance director or a finance director in you will not be happy without tracking cost and profitability metrics:

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Trends and Benchmarks

Metrics have more meaning if you benchmark them against competition or sector averages, or your targets and trend them over time.

Wishing you high retention and low burn in 2018!

#wekanduit #kanducrew

You can spot a validated expert like Ozoda when you see the green Kandu K badge on their Kandu profile. It’s our first iteration of our trust rating system that will develop as we grow. Kandu matches startups to great advisors and experts to help them grow better, faster and avoid common startup challenges.

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The Kandu K Badge

We’re actively seeking great digital experts to join our platform, especially in health and wellness. Kandu matches entrepreneurs with trusted experts. It helps startups grow better, faster.

Please head over to www.wekandu.io and register if you think you have what it takes to help startups succeed.

Sign up to Kandu if you’re interested in growing or supporting startups

Written by

Founder, Kandu, and 10 Digital Ladies. Connecting people to solve problems. Also digital strategist, product consultant and alt rocker at @darlaandtheblonde

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