Chang reckons too many startups fail because they favour growth over profitability, or vice versa, when in fact both are “crucial” to success. He advises spending capital carefully with an eye on a “steady, sustainable” trajectory, and suggests rethinking operations. “Based on my experience advising portfolio companies and consulting, I believe that data-driven operations is the new table stakes for survival today,” he says.  

Pick the right universe of benchmarks

One of the most important decisions is choosing a set of benchmarks and metrics that will actually help you measure progress toward specific goals — whether it’s profitability or growth 

Know what drives your sales

Sales efficiency is a key indicator of sustainable growth. You need to know the levers that drive sales efficiency — whether it’s lead costs, conversion rates or sales productivity — in order to thrive and make smart decisions.

Explore other KPIs

While sales efficiency is important, there are plenty of other meaningful benchmarks and KPIs that are important for businesses to monitor.

(A funding) Winter is coming

Whether you think we’re headed for a downturn or not, there will always be ups and downs in the market. Right now, there is more of an emphasis on sustainability, given current uncertainty over the economy

 

Source: TechCrunch. For the full story, read How startups can use data to grow smarter