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.