For investors there's one thing that counts the most - numbers. No matter if you're talking to Mr. Wonderful in the Shark Tank, or with your Angel Investor. Numbers delight, numbers tell us how to move the business forward.
And with numbers comes also a big fear, the fear of responsibility. But savvy entrepreneurs have one thing figured out. The faster you keep track of your important business metrics, the faster you start steering the ship better.
With so many numbers present in a business, there are only a few important metrics - the Key Performance Indicators, or short KPI metrics.
KPI range from user-sign ups, monthly recurring revenue, or customer churn. But the highlight here is on the word 'Key'. There's usually between 5 and 10 KPI, to keep things short and specific.
Another challenge is getting KPI out of the different systems, which is why we thought deeply about this. We came to the conclusion that there is already a tool that supports most of the systems on the market. Plus it keeps things relatively simple : Google Sheets.
It can connect to your SQL, read out data from an online .csv, or even calculate the formulas itself. You can also feed it data through other tools such as Zapier and IFTTT. Plus everything is in an easy to understand spreadsheet that we're used to from other office tools like Excel.
With pitchXO you can easily connect to the Google Sheet containing your KPI. We'll then display them as charts and historic data in your secure investor page.
Simple really, isn't it?
Henrik Zillmer, Founder of Airhelp, a Y Combinator Company - @henrikzillmer
"Keeping track of over hundred investors while building a financial startup would never have been possible without pitchXO."-- Torben Pedersen, Co-Founder Capital Aid