Apr 8, 2020
The most important thing for a startup to chase
How a startup makes money drives what metrics it should track.
With a wide variety of business metrics available, thanks to huge amount of data being collected and put to intelligent use by organizations, it is difficult to decide and focus on that one special metric.
There is no correct answer for this. Different metrics could serve as 'The One' at different points in time. But it is important for the organisation as a whole to focus on just one metric at a time.
As per Paul Graham (check this):
Growth is the most critical thing to chase for a startup.
There are five ways to control the growth: -
More stuff, by adding products or services.
More people or adding users. Best way to add users is to integrate them in the usage, like skype or dropbox do when you share your doc or place a call.
Make users come more often, use stickiness, make them repeat the usage.
More money, by up-selling or increasing the prices.
More efficiency, reducing the cost of supporting, delivering or customer acquisition, etc.