The 3 most important stats know to for start-ups and growing companies

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“Lack of direction, not lack of time, is the problem. We all have twenty-four hour days.” 

― Zig Ziglar

Your 24 hour day looks a lot different when you are running a start-up company as compared to when you have hit that growing company mark. Why is that? For starters, your focus changes. And what you focus on, leads your direction. Which direction should you be headed towards? That all depends on the information you are collecting, analyzing, and obsessing over as a business owner. 

The information needs from start up stage and growth stage are very different. If you came from a big corporate background and decided to start-up, your instinct may be to focus on information points you know big companies use to run operations. Conversely - if you started your company from the ground up, now that it is looking like a whole different animal, your comfort zone may still be using those initial data points you always used from the start to still assess your company. After all, thats what got you there, right? Not exactly.

Your stats and what you focus on need to evolve with you and your company as you grow.  

Here are the top 3 stats you need to focus on for when you are in the start-up stage: 

1) Number of current customers - recurring and one-time

2) Cash in the bank, as of now

3) Conversions from leads to sales, and the time from initial contact to client

If you are in the growth stage (past the start-up mark), here are the top 3 stats you should focus on: 

1) Revenues by segment / cost by type  for both present and future (hello forecasting!)

2) New growth opportunities - both potential and in the pipeline

3) Productivity - per employee and per sales channel

As the quote by Zig Ziglar above said - direction is the key. Your funnel of business information in its current stage will keep focus on your direction as well as provide guidance for making the right decisions, so it is imperative to make sure you adjust that information flow based on where your company currently stands, as well as where you want to take it.

Want more information on how to compile these stats for your business? Or do you have questions or comments?

We would love to talk with you and get you started. 

Fill out the form below, or call us directly: 833-346-6677 (833-FINNOPS).

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