Daily Habits, Measurements & Dashboards

Startups move fast, they often grow very fast, they can crash just as fast.

More than one thing can kill you. You can grow too fast, working capital spikes, costs can spike, cash collections slow to a crawl.

Daily habits of tracking key metrics are essential. It’s valuable to keep a high tempo for the business but more importantly to provide an early warning system so you can spot when you have a problem before it becomes a crisis.

Get someone to build you a Daily Report, a few suggestions

Cash on hand
Cash received
New Income,
Hours billed,
New users signed up,
Total daily users
Monthly run rate
Monthly burn rate
Website Visitors
Average Revenue Per Customer
Average Order Value

There are a bunch of options you need to decide what the critical KPIs are for your business.

Keep that Dashboard updated every day, emailed to you first thing in the morning so no matter where you are or what you are doing you know exactly what is going on, even better if its a live dashboard you can view on a computer or an App.

A daily dashboard is an early warning sign for trouble, you don’t have to wait a month or a quarter to find out there is a problem and can jump on it and fix it long before its a crisis.

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http://webapplayers.com/homer_admin-v1.7/

Mike88

Mike Nicholls Australian Inventor + Entrepreneur working with a small team of engineers building prototypes from Inventions including two medical devices. Publishes Startup88.com and has assessed/reviewed +500 inventions and +200 startups in the last 3 years. Mentors Sydney Startups via Incubate and other incubators and helps members of the Australian Startup Community via the Startup88.com website with free publicity and advertising. Experience in numerous industries including Digital Publishing, Cloud Computing, Apps, Hardware, Aviation, Real Estate & Finance and Health/Medical Devices.