Learn how to create your own management dashboard at Entrepreneurship.org thanks to the Kauffman Founders School.
Let’s talk about data. Not Big Data. Your performance data.
Entrepreneurs hear a lot about vision and passion. About being lean and about pivoting. About customers and canvases. But we don’t talk a lot about measuring and monitoring the critical business factors that will determine your success or failure. Maybe because it’s hard, or maybe because it’s boring.
At the core of every real entrepreneur’s vision is a business, and at the core of every business are numbers — metrics that indicate what’s going on and whether the company is on track or off track. Not every co-founder has to be a numbers jockey, but every team needs someone who is passionate about performance metrics. The very best entrepreneurial teams hold themselves responsible for delivering the numbers.
So what numbers do you monitor? Not all business metrics are equal, and metrics that are critical for one company may not be critical, or even relevant, for another. How do you decide which metrics to focus on, and at what level of detail?