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  • Writer's pictureJordan Silverman

Beyond Vanity: Unlocking Actionable Metrics

I just read Lean Startup for the second time. The first time I read it was during my first startup when an advisor gave it to me. It is amazing how books take shape entirely based on what is going on in your head at the time.

The thing that really stuck out to me this read? Vanity metrics.

You've probably heard of "vanity metrics" — data points that make you feel good about your business but don't provide meaningful insights for decision-making. Examples include raw page views, social media followers, or even gross revenue. While these metrics can seem impressive, they often lack context and don't guide you towards actionable steps for improvement.

As a small business owner, your focus should be on "actionable metrics". These are the metrics that genuinely reflect your business's health and provide insights to inform your strategy. Actionable metrics may include customer acquisition cost, profit margin, or customer lifetime value. These metrics, which show real progress (or lack thereof), are where Starfish comes into play.

Why Focus on Actionable Metrics?

  1. Informed Decisions: Actionable metrics help you make better decisions, as they offer real insights into the aspects of your business that drive growth.

  2. Improves Efficiency: These metrics highlight areas for improvement, enabling you to streamline operations and optimize resources.

  3. Profitability: By focusing on actionable metrics like cost per acquisition or profit margin, you're honing in on what directly impacts your bottom line.

I hear a lot of small business owners say something along the lines of - you don’t start a business to sit in front of a computer. I know for a fact that you don’t start a business to run a P&L. Believe me - running a P&L and doing accounting is one of my least favorite parts of the job.

How Does Starfish Help?

Starfish is designed to cut through the noise of vanity metrics and provide the actionable data you need:

  1. Cost Understanding: Starfish helps you comprehend and categorize your costs, allowing you to see where your money is going and where you could potentially save.

  2. Benchmarking: Compare your metrics with industry standards to see where you stand and where you could improve.

  3. Profitability Focus: Our tool is designed to shift the focus from mere revenue to making MORE ACTUAL MONEY, by highlighting the areas of your business that directly impact profitability.

Steer clear of the vanity metrics trap. Let Starfish help you focus on what truly matters for your small business. Join us and discover the power of actionable metrics. Together, we can navigate the sea of data to find the insights that lead to real, profitable growth.

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