How To Find Your North Star Metric
What if there was a single number you could measure… one number that you focus all of your attention on…
And it would make your business rain revenue like never before?
Well thanks to Sean Ellis, founder of GrowthHackers, I believe I found one.
I call it the North Star Metric.
See, after raising $1.6M in funding for my business Clarity.fm…
I began drowning in an ocean of numbers.
I lived in spreadsheets, followed every metric, and kept my finger on the pulse for every shifting digit across the entire company.
We had a good SaaS product. Great tech and a great team.
But I couldn’t find a way to crank up our profits!
I phoned Sean Ellis, frustrated because I couldn’t find the right foothold for growth.
“You’ve got to find your North Star Metric”, he told me.
I had formulas crunching every damn metric you could think of in my spreadsheets…
But a North Star Metric? This one was new.
I called a meeting with my team, and we went straight back to the whiteboard, to decide what would become our North Star Metric.
All of our teams — from support to development, to marketing, to sales — would prioritize their goals around it.
To today, I still thank Sean Ellis for opening my eyes to our North Star Metric… Because shortly after that, business TOOK OFF.
Now I’d like to pay it forward in today’s video.
This, my friends, is how you find and calculate your own North Star Metric… and why it’s the one number that’ll save your business every time.
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A North Star Metric is not like other metrics you measure… It’s unique to YOUR business.
To prove this point, in this video I’ll share with you the individual North Star Metrics for:
It’s only 9 minutes. Play the video here, and let me know in the comments:
What are you going to make your north star metric?
Dan Martell is a serial entrepreneur, an investor in 40+ startups like Intercom, Udemy, and Unbounce and the creator of SaaS Academy, helping over 500 B2B SaaS founders scale faster. He’s founded five SaaS companies and successfully exited three of them. If you want to scale faster without hitting the usual roadblocks, make sure to follow him on Youtube, Facebook, Instagram, LinkedIn & Twitter.
Originally published at https://www.danmartell.com on January 18, 2021.