How have you gone about establishing KPIs / Success Metrics when there is absolutely no precedent?
Jonathan Amsili
2 replies
Hi all,
I recently launched Solon (www.solonfit.com), a completely free digital fitness platform with the end goal of driving great equity in the digital fitness space. While I'm still in the PoC (Proof of Concept) phase with much larger plans to fulfill my long-term vision, I'm trying to answer the question of "What is success?" for this phase.
I am having some trouble establishing the KPIs around this, as every time I come up with a number it seems completely arbitrary. Some of the metrics I should track are pretty obvious (eg users, sessions, session duration time, retention), but I'm really struggling to put a target figure against them.
Would love to hear how some of you have thought about this for your products!
Replies
Jack Davis@jack_davis7
This video from YC is a good starting point about how to set up KPIs and goals. The two KPIs every business needs to measure boil down to either revenue or growth. If you want a more concrete number to shoot for I would suggest trying to get your first 100 active weekly users. I remember Paul Graham wrote that if you can increase that number by 10% every week that you will have 14k users in a year and 2 million in 2 years. I hope that helped!
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As you just found out, most KPIs are completely arbitrary!
Do you really want a number as a goal? Aim for 100 true fans.
At this stage fine-grained stats are more noise than signal, as long as they go up over time you're good. You can always increase the upwards slope over time.