Y Combinator Startup Podcast Setting KPIs and Goals with Divya Bhat | Startup School
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Jul 5, 2023 Divya Bhat, a YC Visiting Group Partner, shares her expertise in setting effective KPIs and prioritizing tasks for startups. Drawing from her extensive experience with founders, she discusses the importance of focusing on key metrics that truly drive growth. The conversation includes practical frameworks that help founders optimize their goals and tracking methods, enabling them to launch faster and achieve product-market fit without getting sidetracked by less impactful metrics.
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Prioritize with KPIs
- Identify your top KPIs, which should be revenue growth if you've launched.
- Set a weekly KPI goal, like 10 new paying customers, to maintain urgency and track progress.
Super Daily's Milk Bottleneck
- Super Daily, a grocery delivery startup, prioritized user conversion rate as their bottleneck.
- By focusing on why users churned, they identified the lack of a specific milk brand and increased conversion by 50%.
Framework for Prioritization
- Rank potential solutions by probability of success and complexity, picking only a few to try at once.
- Conduct retros to assess impact, and iterate quickly; don't get stuck in indecision.