Sharing KPIs with your network creates a sense of accountability and transparency. But how do you choose the right KPIs for your company?
Our best tips:
Be specific: Choose KPIs specific to your business. Some KPIs apply to everyone, but tailor-made KPIs highlighting your goals will give more insight into your progress!
Understand context: Before selecting KPIs, it is essential to understand the context in which they will be used. You might have two sets of KPIs, one for your team and one for your investors. Ensure that the Investor KPIs are relevant and understandable.
Keep it simple: Choose KPIs that are easy to measure monthly. This will make it easier for you to report them regularly and for your investors to keep track of progress.
Here is a list of the ten most popular KPIs in CrowdWorks:
1. Revenue
2. Number of customers or users
3. Runway
4. Units sold
5. Cash Balance
6. MRR
7. Gross margin
8. Burn rate
9. Sales partners
10. App downloads
By sharing key performance indicators regularly, you can maintain a transparent relationship with your current and future investors. And ensure their engagement with the company's progress and future!
