Metrics

I just realized that I’ve answered over 1200+ questions on Sprouter. Crazy! Why do I do it? Because I know how important quality advice can be. It’s also a great way to get inspiration for blogging. Recently I noticed a most popular section and was laughing at some of my answers. For the most part they were written at 2AM while I was working – however, I thought you might find them useful.

Warning: Typos, run-on sentences, and crappy formatting.

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Have questions you wish you could ask the pro’s? Well, today is your day. I reached out to some of my favorite entrepreneurs and startup advisors to see if they had time to take some calls. Feel free to reach out to them directly. The only thing I ask:

  1. Have a focused and specific question
  2. Keep your calls under 10 minutes

Be sure to share this post with your startup friends … I’m not sure how long they’ll be available.

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Number wheel

Editors Note: Lenny Rachitsky is the Co-Founder and CEO of Localmind and one of 60 Canadian startups invited to participate in Day 1 of the GROW Conference being held Aug 17th in Vancouver, Canada.

If you’ve ever received an email from Dan Martell (founder of the one and only Maple Butter), you’ve probably seen the following quote in his email signature, referring to the importance of gathering metrics around your product:

“In God we trust, all others bring data.” — W. Edwards Deming

Easier said than done. Gathering data is a bitch. You have to figure out all of the metrics you’ll want to look at, build the infrastructure to capture those metrics, present those metrics in an understandable way, and make sure those metrics are accurate at all times. This takes time away from focusing on your core product, your never ending list of features and fixes, and everything else your startup needs to do. In spite of all this, well thought out reliable metrics are pretty much critical to your startup’s success. I want to share how we gather metrics at Localmind, where we try to find that balance between getting the metrics we need while doing as little as possible.

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Being able to understand how your product is being used is the most important part of building great product for a startup. Monitoring and measure the right things from an admin dashboard is a great way to learn. Once you’ve started letting users in, you’ll want to split your time between quantitative feedback (cohort metrics / analytics) with qualitative feedback (surveys, activity streams and interviews). Having an admin panel will help you accomplish this.

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