Entrepreneurs Share How They Track Their Startup’s Progress
Whether you're launching an app or starting a SaaS startup, tracking your startup’s success is a crucial part of ensuring your company is on the right track. The first step is determining the most impactful metric to use in order to do so. Get started with this list of how 15 startup founders track their company’s success.
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1. Rentround, Raj Dosanjh
Industry: Real Estate Tech
“For Rentround, the fundamental metric is target cost per acquisition [CPA]. We must be able to obtain leads at a certain price to ensure we make a profit from our agent subscriptions. A close second is our monthly lead volume. There is high agent demand for our leads, and we need to hit certain monthly quotas to ensure agents hit their own growth targets. Keeping costs per lead targets while trying to grow volumes is an ongoing challenge.”
Read more entrepreneur insights from the founder of Rentround.
2. Bitebell, Željko Bošnjak
Industry: Food Tech
"[The] number of transactions that we are processing, number of clients, and number of locations per client. Also, we are tracking the lifetime value of customers and [the] churn rate as a very important metric.”
Read more entrepreneur insights from the founder of Bitebell.
3. HR Partner, Fiona Adler
Industry: Software-as-a-Service (SaaS)
“My co-founder and I have regular bi-weekly catch ups to look at specific KPIs such as web traffic, number of trial signups, number of conversion of trials to paying customers, number of demo sessions our customer success team has run, etc. It is easy to get distracted by too many numbers, but we tend to focus on just five to seven key numbers that tell us very quickly if our current marketing strategy is working or needs to be tweaked.”
Read more entrepreneur insights from the founder of HR Partner.
4. Field Complete, Tim Tesluck
“Number of Jobs completed on the platform, number of homes serviced across the US.”
Read more entrepreneur insights from the founder of Field Complete.
5. Blitz Checkout, Adel Nasser Abdalla
“Retention rate (how often customers return), the number of orders per customer, [and] the size of the order.”
Read more entrepreneur insights from the founder of Blitz Checkout.
6. KillerPolitics, Erik M. Underwood
“Backend custom content management system that tracks the statistics of every aspect of our platform.”
Read more entrepreneur insights from the founder of KillerPolitics.
7. Autimely, Joshua Bowlin
Industry: Automotive, Cryptocurrency
“The metrics that we are paying attention to is transaction rate so how many consumers engaged with the dealerships and how many of those closed, why they didn't close, and the [total sales] over our platform.”
Read more entrepreneur insights from the founder of Autimely.
8. AaDya Security, Raffaele Mautone
“We are partner driven and are always looking at this through two lenses and asking ourselves how do we make a program that enables them [users] to grow as well as how users use our platform.”
Read more entrepreneur insights from the founder of AaDya Security.
9. SeaTour, Tyshaun Pickett
Industry: Travel & Hospitality
“Active paying users, LTV and first-month graduation (to predict LTV/churn), Group belonging score.”
Read more entrepreneur insights from the founder of SeaTour.
10. e-gree, Keith Fraser
Industry: Legal Tech
“Daily metrics regarding downloads and other information regarding use of the app.”
Read more entrepreneur insights from the founder of e-gree.
11. Grow a Wish, Fabienne Overbeek
“We collect a lot of data from the webshop, in which we evaluate the average number of products sold per order and the monthly turnover in order to be able to estimate peak moments in advance. In addition, the turnover growth and profit margin are a good yardstick for evaluating the health of the company.”
Read more entrepreneur insights from the founder of Grow a Wish.
12. Realworld, Genevieve Ryan Bellaire
Industry: Apps, Edtech
“With acquisition we focus on growth (new users) and the CAC associated with that growth. We also pay attention to engagement and how often our users are returning to our platform.”
Read more entrepreneur insights from the founder of Realworld.
13. GO, Michael Beauchamp
“CPC, CTR, website conversions, CAC, on-time deliveries, happy customers, unit economics on the cars.”
Read more entrepreneur insights from the founder of GO.
14. Stock Alarm, Yahia Bakour
“MAU (Monthly Active Users) / MRR (Monthly Recurring Revenue) / Churn.”
Read more entrepreneur insights from the founder of Stock Alarm.
15. Rinseroo, Lisa Lane
Industry: Petcare, Ecommerce
“We really don't have a repeat customer, so we are focused on growing with new customers. Much of this we do by customer referral and word of mouth. As such, we are very focused on customer satisfaction and customer service. If anyone has a problem, they know that they can reach out to us, and we will make it right. If they are happy, they tell two friends and so on. It's an old strategy that really pays off.”
Read more entrepreneur insights from the founder of Rinseroo.
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