What is a startup dashboard?
With limited resources and big ambitions, many startups can’t afford to get distracted by things which don’t support immediate growth. Startup dashboards are designed to help these businesses stay laser-focused on the metrics that matter.
Early-stage SaaS startup
This dashboard is used by an early-stage SaaS company. It’s there to focus everyone’s efforts on what’s most valuable to the business, early on.
For many new businesses, it can be tricky to choose metrics at this early stage, as they are unlikely to have many active customers generating lots of data. Qualitative data from conversations with users and potential users takes priority – listening to feedback and understanding their niggles helps to refine the product.
However, the problem is that this qualitative data can often produce a long list of areas to focus on, not all of which are equally important. This is where quantitative data and KPIs can help. By deciding on the changes they want to see, tracking a select number of KPIs helps the team stay focused on creating maximum value for their business and their customers.
By asking the question: “what do we most need to influence?”, this startup has settled on revenue (MRR), product usage and retention. Essentially, they want to know, out of the people who are using the product, how much are they using it?
They know that, simply, if they develop the product so that customers want to use it more, they will improve retention, and eventually improve revenue, as more people learn about their fantastic new product. The dashboard keeps them focused on this aim.