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Metrics for Startup Success and Failure
1. Metrics that Matter
Defining startup success and failure
Hiten Shah
Customer and Business Development Class at Berkeley ⢠Mar 9, 2010
2. The Startup Pyramid
The Race to the Top
Growth
Transition to Growth
Product / Market Fit
Sean Ellis: Startup-Marketing.com
3. Product / Market Fit
⢠Low burn, focused on product, no VPs / sales people
⢠Customer Development (Steve Blank, Four Steps)
⢠Minimum Viable Product (Eric Ries, The Lean Startup)
⢠Pivots (Eric Ries, The Lean Startup)
ââŚthe life of any startup can be divided into two parts â
before product/market fit and after product/market fit.â
Marc Andreesen, Founder of Netscape
5. Minimum Viable Product
⢠Coined by Eric Ries as part of The Lean Startup
⢠Lean Startups are a series of MVPâs
⢠Each designed to answer a specific question (hypothesis)
â The minimum viable product (MVP) is often an ad on
Google. Or a PowerPoint slide. Or a dialog box. Or a landing
page. You can often build it in a day or a week.â
Nivi, Venture Hacks
6. â If Apple can launch a smartphone without Find or Cut-and-
Paste, what can you cut out of your product requirements?â
Lance Glasser, former CTO KLA-Tencor
7. â The first version of Gmail was literally written in a dayâ
Paul Buchheit, Google / Friendfeed / Facebook
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12. Pivot
â The idea that successful startups change directions but stay
grounded in what they've learned.â
Eric Ries, The Lean Startup
⢠Segment pivot - existing product, different customers
⢠Customer problem pivot - same customers, different problem
⢠Feature pivot - pick a feature and reorient around it
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15. Product / Market Fit Metrics
Created by Sean Ellis (12in6)
⢠40%+ of users say they would be âvery disappointedâ
⢠Representative of a large enough target market
⢠Use Survey.io to get started
Sean Ellis: Startup-Marketing.com
16. Transition to Growth
â Once you have achieved product/market fit, itâs time to
accelerate through the next steps of the pyramid and then
begin scaling your business.â
Sean Ellis, 12in6
⢠Positioning - optimize first user experience via messaging
⢠Economics - implement a business model
⢠Optimization - track and report on the right metrics