One of the topics I’m passionate about is managing with data. Now, data is often scarce in the early startup days, especially when there’s the elusive search for product/market fit. As the company moves from product/market fit to the search for a repeatable customer acquisition process and beyond to a scalable business, data becomes more plentiful.
Here are a few thoughts on managing with data:
- Capture an appropriate number of weekly metrics based on the stage of the business (see The Definitive List of Weekly Operational Metrics for SaaS Startups)
- Set OKRs or goals around the metrics (absent goals, which most startups don’t have, at least track the metrics somewhere like a Google Sheet)
- Incorporate data in the Simplified One Page Strategic Plan
- Develop a meeting rhythm that looks at the metrics weekly
- Put a big scoreboard up in the office that has a dashboard of metrics
Data shouldn’t be the only focus in the business but it should have an important role in the company. Let routine set you free and include data with it.
What else? What are some more thoughts on managing with data?