What are startup KPIs?
Startup KPIs are values that show how a startup is progressing toward its goals and objectives. They’re used to measure progress and identify areas of your startup that need improvement.
Note that KPIs are different from startup metrics.
Metrics are data points that show the results of a particular activity. KPIs look at designated metrics in relation to how they’re helping you reach objectives.
A metric might be downloads of a specific template from your blog. A KPI might be customer trials started from the blog. That metric is important to know, but it’s not related to the growth goals you have set for new customer sign-ups.
The importance of tracking and measuring startup KPIs
Tracking and measuring KPIs is crucial for startups because it allows them to keep track of their progress and gain a better understanding of whether their current efforts are producing the results they want.
If you don’t track KPIs, all the decisions you make will be based on gut instinct or personal preference, rather than data. KPIs enable you to make strategic, data-driven decisions to grow your startup and move it in the right direction.
Which startup KPIs should you track?
Now that you understand the importance of KPIs, you’re probably wondering which ones you should focus on and base your decisions around.
At Hubstaff, we’re completely transparent about our revenue and KPIs. We showcase these through the Baremetrics Open Startup project.
We track a lot of different KPIs, and these are spread out over categories such as marketing, sales, and customer support.
Listing them all in this blog post would be of no benefit to you, since the KPIs we track are related to our specific business goals and objectives, which more than likely differ from yours.
However, if I had to point out the most important KPIs every startup should track, these would include:
Customer acquisition cost (CAC)
Average revenue per user (ARPU)
Customer lifetime value (LTV)
Monthly active users (MAU)
Customer churn rate (CCR)
Monthly recurring revenue (MRR)
Revenue growth rate
Revenue churn rate (RCR)
The point of this guide is to discuss these KPIs in more detail so that you understand why they’re important, as well as learn how to calculate them.
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13 дек 2023
