Learn which growth metrics to track for your startup
To build solid businesses, we should aim to make our decisions based on data rather than feelings. I've gained a better understanding of
- which business metrics to track and optimize for, and
- how to calculate these metrics properly
through the amazing Steal My Idea newsletter. Check it out!
The author and startup finance expert @AvonBarksdale is a fellow IndieHacker.
I love sharing the important metrics for scaling a business!
Thanks for writing it! I always learn a ton when I read the newsletter issues. :)
I think the best way to make decisions based on data vs. feelings is to have a way to track which features employees are clicking on your application and understanding the paths they are taking in your application.
If you don't know which features are using in your applications, how do you know which parts of your application are valuable? Or perhaps they are clicking a feature, but then they stop using it over time.
If you can't track these 2 metrics - adoption - then you really don't understand your product.
How do you track monetization?