Time management V2

Scrappy notes based on YC talk.

KPIs(Key performance indicators or North Star Metric)

Pre launch

Example: Weeks until launch or Number of users talked to.

Post launch

Identify Top KPI - MRR or some revenue-based metric for most startups

Identify major bottlenecks or biggest problem.

System to move your KPIs

1 Write down ideas that may help

1.1 Rank - already discussed in V1 (complexity and Impact)

2 If your KPI doesn't move be honest why.

3 Do honest retros: learn and adjust course.

Double down on what is working and cut what isn't.

In reality mosts decisions dont matter.
-Divya Bhat

Primary Metric

The main metric that tells you without a doubt that your business is working.

Mostly revenue growth.

Secondary Metric

Things to be tracked to make sure you are not gaming your primary metric.

Setting Targets

Top down

eg 5k MRR

1 Pick a milestone/date in the future that you want/need to hit.

2 Work backwards from this for bi-weekly goals.

Bottoms up

1 What is realistic for you to get done next week?

2 Work up from this to determine a realistic future milestone

Thought experiment

1 What could we achieve with unlimited funding or resources?

2 What creative ways are there that we can achieve this with limited funding?

ACTION ITEMS

1 Write primary and secondary KPIs

2 Set ambitious targets for the next week.

3 Audit your task list.

4 Share your next week's goals; stay accountable.

Note to self

I need to cross-reference the principles mentioned in this post with 37 Signals. To see how they both align, as the goals of YC companies may not be the same as those of companies like Buildcamp.