Metrics Matter

Measurement is required to determine how far a company has come and how far is left to go.

The average startup founder has certain numbers that constantly swarm their head. This swarm is generally centered around a number of customers, gross and net #profit, and even team size. While these #goals and #metrics are critical to the success of any business, they only tell a part of the story. They can also crush an entire team if not broken down into smaller goals.

“The path to large growth is paved incrementally."

In order to know what to measure, it’s important to first understand the company’s goals on a #quarterly and #annual basis. From there, think about the team and what each person needs to do in order to contribute to those goals being met. Don’t do this alone - team collaboration is helpful here. Getting team buy-in on what’s measured can empower them to meet them.

• Marketing: X leads generated and convert Y% of them each week

• Finance: X% profit margins quarter-over-quarter

• Customer Success: X% satisfaction scores and Y% customer retention year-over-year

• Engineering: X products delivered this quarter on time and on budget

• Human Resources: No more than X% employee turnover and Y% employee satisfaction

Once there’s alignment on what is being measured, it’s important to be clear on how they will be measured. Systems like #CRMs (Customer Relationship Management), #ERPs (Enterprise Resource Planning), and Project Management tools are helpful in consistently measuring and tracking progress over time. Some common ones include:

• Salesforce

• HubSpot

• SAP

• Oracle

• Asana

• Trello

• JIRA

Not ready to invest in software yet? That’s okay - start where you are. Goals don’t have to be daunting. The path to large growth is paved incrementally.

Not sure what systems you need or should implement? CREO Growth Solutions can help you select and adopt new tools to help you manage your metrics. Schedule a free discovery call to discuss your options!