Want to learn about north star metrics and how to select yours? In this video, I'm going to teach you how to find your North Star metric, and share some examples from the top SaaS companies.
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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.
One number.
To today, I still thank Sean Ellis for opening my eyes to our North Star Metric… Because shortly after that, business TOOK OFF.
Like… KA-BOOM.
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.
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:
- Airbnb
- Quora
- Slate
- Salesforce
- Adobe
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 “studying the stars” Martell
Don't forget to share this entrepreneurial advice with your friends, so they can learn too: of this video:
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0:00 - Intro
2:48 - Definition of North Star Metric
3:19 - "Focus on the Game"
4:11 - Examples from Best SaaS Companies
8:02 - Recap
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ABOUT DAN MARTELL
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“You can only keep what you give away.” That’s the mantra that’s shaped Dan Martell from a struggling 20-something business owner in the Canadian Maritimes (which is way out east) to a successful startup founder who’s raised more than $3 million in venture funding and exited not one... not two... but three tech businesses: Clarity.fm, Spheric, and Flowtown.
You can only keep what you give away. That philosophy has led Dan to invest in 33+ early stage startups such as Udemy, Intercom, Unbounce, and Foodspotting. It’s also helped him shape the future of Hootsuite as an advisor to the social media tour de force.
An activator, a tech geek, an adrenaline seeker and, yes, a romantic (ask his wife Renee), Dan has recently turned his attention to teaching startups a fundamental, little-discussed lesson that directly impacts their growth: how to scale. You’ll find not only incredible insights in every moment of every talk Dan gives - but also highly actionable takeaways that will propel your business forward. Because Dan gives freely of all that he knows. After all, you can only keep what you give away.
Exclusive Download: Precision Scorecard™ - Keep Your Leadership Team Focused & Accountable To Growth - #SaaSAcademy
Recommended Reading >> bit.ly/32kRpzw
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