Metrics for a Successful Startup

1- Startup costs

Many startups fails for financial reasons. Startup finance and money management are the key indicators for the future success of a company.

2- Market size

Market size will indicate your market share. Market share is defined as the market size that is controlled by a company.

3- Competition

Who are the competitors? What is their market share? Is there a monopoly in the business space that you are competing? Are you competing within a specialized niche market?

4- Passion

If we view a startup as a car, then passion is like fuel for it. Passion defines the philosophy of your startup. It makes you keep moving forward after facing many challenges.

5- Background and expertise

As a CEO, you should be on top of the competition. You should constantly read to be informed about the hottest trends in your business. A great team with the right expertise is crucial for your business.

6- Value

Your business should add value to society and solve a problem. Vishen Lakhiani, the CEO of Mindvalley, believes that some companies are plus-humanity and some other companies are minus-humanity.

7- Scalability

The most important players in the scalability equation are business model, market size, competition, and growth potential (demand) for the service or product that you are presenting to your customers.

8- Leverage

As a CEO, you are always bombarded with many tasks. Leverage using other people's time (OPT), other people's money (OPM), and other people's brain (OPB). Leverage can save your business a lot of time that can be spent on more important business activities.

9- Profit margin

If we think of a startup as a human, the money will be like air to breathe. Businesses can not survive without making enough profits to be spent on other activities such as employee salaries, equipment, and other costs. Furthermore, business development is easier with more profit.

10- Business model

The business model is like a blueprint and map that determine how a business is going to make money and spend money. How a business is going to develop and maintain its activities. A business model is like a road map and compass that is crucial for a startup.

39 views0 comments

Recent Posts

See All