The Founders' List: How VCs See Your KPIs
In this episode, NFX discusses the crucial role of Key Performance Indicators (KPIs) in startups. They delve into the significance of daily reports, introduce a KPI checklist, and guide on developing precise, measurable KPIs. The episode also explores the importance of time-specificity, actionability in KPIs, and benchmarking against competitors.
Key Points
- KPIs should be specific, measurable, and actionable, and should focus on the company's immediate next step in its growth ladder.
- Having too many KPIs can dilute focus, so it's important for companies to prioritize and track a few key metrics that matter most.
- KPI goals must strike a balance between being challenging enough to motivate the team and realistic enough to be achievable within a specific timeframe.
This is The Founders’ List – audio versions of essays from technology’s most important leaders, selected by the founder community.
Everyone knows that KPIs are critical, but often Founders are not looking at KPIs from the right angle. As a General Partner at NFX, Gigi Levy-Weiss now asks three questions to every Founder he meets. Their responses speak volumes about their odds of success:
- Do you diligently track KPIs?
- What KPIs have you chosen to track?
- Have you set appropriate goals based on your KPIs?
Read the full NFX Essay here - https://www.nfx.com/post/how-vcs-see-your-kpis/
Chapters
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Transcript
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