An important part of running a company is frequently measuring your business at macro / high-level. But doing this in a start-up can be a overhead because you are constantly running and don’t have much time to sit back and see if everything is going as per your plan. But nevertheless you should do it, at least once a month or quarter.
Here is a list of metrics that I use on regular basis to monitor my business progress:
- Cash generated in the last month: Remember cash ≠revenues.
- Revenues last month and their breakup by area (I get money thru product sales, training, consulting, advertising and affiliate sales)
- Expenses last month
- Overall sales trend and whether it is as usual or something interesting is happening
- New customers last month
- Sign-ups to various news letters, RSS etc. on my site
- Overall unique visitors last month
- Customer engagement: No. of comments, tweets, link-backs on my site etc.
- No. of customer queries, support requests
- Number of questions students raised
- What I feel about how productive I have been
How do I measure these things:
I use reports generated from PayPal, E-Junkie, Google Analytics, WordPress, Aweber to keep track of most numbers. For things like customer queries, I rely on gmail search.
What metrics you use to measure your business progress?
What do you measure and how do you measure them? Please share using comments.