Not More Numbers,
But Actionable Metrics
When you first launch a product, lots of things can and do go wrong. The common tendency is to want to collect as much data as possible. But in today’s world, where we can measure almost anything, we often end up drowning in a sea of information.
We all want to be this guy, Iron Man, with his kickass dashboards and tools.
But the second picture, is in fact, what our reality really looks like...
Metrics were supposed to be the answer, but they only tell you what’s going wrong
– not why or how to fix it.
As a result, you keep cranking out more features in search of that mythical killer feature. You know, the one that’s supposed to make your product take off? Pretty quickly, your minimum viable product is turning into a bloated monster and you are no closer to that hockey-stick curve.
Here's the thing...
You don't need more numbers, but actionable learning.
If you've been following Lean Startup for a while, you've no doubt heard of cohorts, split testing, and maybe even lifecycle messaging.
Each is effective by itself, but put together it's actionable learning on steroids.
This combination is something we call the "Innovation Accounting Trinity."
When we were designing USERcycle, we had 3 goals in mind:
- Benchmark the true performance of your product.
- Identify the single constraint or key metric to improve.
- Measure if your "improvements" actually make the product better or worse.
Here's a short video we put together to show how we do this:
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Who’s behind this?
Ash MauryaAuthor, Running Lean
Emiliano VillarrealDesigner & Hacker
Lukas FittlLean Practitioner
Eric RiesAuthor, The Lean Startup
Jason CohenFounder, WP Engine
Joshua BaerCEO, OtherInbox