Y Combinator Startup Podcast
B2B Startup Metrics with Tom Blomfield | Startup School
Jan 8, 2024
In this discussion, Tom Blomfield, a Group Partner at Y Combinator, dives into the vital role of metrics for startup founders. He shares insights on which metrics to prioritize for informed decision-making and effective business control. Tom emphasizes balancing critical performance indicators with genuine customer feedback, warning against the pitfalls of vanity metrics. His expert advice is invaluable for entrepreneurs aiming to steer their startups toward success.
23:46
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Quick takeaways
- Startups should track key metrics like DAU, WAU, or annual revenue per user to gain investor confidence and make data-driven decisions.
- Retention rates and gross margin are crucial metrics for startups, indicating customer satisfaction and profitability.
Deep dives
The Importance of Metrics for Startups
Metrics are essential for startups as they provide valuable insights and enable better decision-making. Just like flying an airplane without instruments, launching a startup without metrics means being in the dark and lacking control. Founders often miss out on vital information about user behavior, such as the number of new and returning users or their activity levels. It is advised that founders build basic metrics into their product before launching to understand user engagement and make data-driven decisions. Metrics give investors confidence when founders can fluently discuss important metrics like DAU, WAU, or annual revenue per user.
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