4th Innovits meeting in Milano: Startup Mentoring and Metrics

http://www.innovits.it/ is an association of managers who are passionate about #innovation.
The motto is "we make innovation for passion".

This anno 2016, Innovits has again presented #Innovits #Academy to develop the concept of responsible #mentorship.

The 4 sessions of this very involving event have been as follows.
1°meeting - #Business #modelling #gamification
Alberto Monterosso & Stefano Trazzi

2°meeting - Setting up your #innovation #appetite
Massimo Pelaia & Daniele Pes

3°meeting - Being #mentor
Samantha Berton & Erika delle Carbonare

4°meeting - Finance for startups
Olga Ignjatovska

The fourth encounter was presented by Olga Ignjatov. Finance for startups, in order to better understand and control the finance behind startups, such as #metrics and measurement of growth and #performance.

The event was introduced by the host of Fabriq, Antonio dell'Atti who is the project leader at http://www.fabriq.eu/

And with a brief welcome by the president of the association Stefania Iacono Pezzillo.

One of the most interesting slides about metrics was certainly this one which links the relevant metrics to the #customerexperience and as a consquence to the #developmentstage of the startup and the success in moving, with the users, from one #stage to the other.

Which implies that the metrics may change over time, and with the development stage.

• Acquisition -You acquire the user. For an internet based product, this usually means a sign up. From which channels are the users coming? How do users find you?

• Activation -The user uses your product, indicating a good first visit. Are your users happy with the experience? Are users having a great first experience?

• Retention -The user continues to use your product, indicating they like your product. Are the users coming back to re-try the experience?

• Referrals -The user likes your product so much he refers other new users. Do your users like the experience to the point that they will suggest it to others?

• Revenue -The user pays you. Are you able to monetize the experience? How do you make money?

To each stage in the #customer #experience will correspond an appropriate metric. Which should be relevant to measure what it is intended to, and understandable to your team.

If you want to study more in depth have a look at Startup Metrics for Pirates: AARRR! By Dave McClure.

But the growth metrics are mostrly customer retention related, as seen below. And, in truth, this is valid for any startup, like any other company. >>> Get your customers, and then, keep them, right?

The different, possible, revenue models will need attention to different metrics, which may partially overlap, but the key metrics to look at will need to change.

More information about the key metrics in the different types of businesses on internet in my next post about Innovits startup metrics.

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For those interested in information about Innovits, please read further.

Innovits is an organization of #managers and #entrepreneurs who work with #passion to promote #innovation and create opportunities for professional growth.

Since its foundation in Milan in 2010, #InnoVits builds a #cultural bridge between the #corporate world and #startups, leveraging the best of two cultures: the #experience of managers in directing a structured company and agility of entrepreneurs.

InnoVits now has over one hundred people, mainly distributed in Italy, working with enthusiasm on business projects with the aim to bring them to an appropriate level of #development to present them to the investment community, the already-established #ecosystem of industry and SMEs.

As a result of these activities, InnoVits has established a wealth of talent and expertise that it makes available to the ecosystem of innovation through #workshops, #seminars and dedicated #support.


Facebook album on Innovits

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#MarnixGroet is member of Innovits since 2016, passionate about startups and to learn about startup #mentorship

Detail of our activities below:

GroetConsulting - SME & Startup consultancy and advisory:
http://www.marnixgroet.com/

Creative Thinking Ventures - Pre-seed financing and startup support:

http://www.creativethinking.ventures/ 

Accellerator Lab Creative Thinking - Mentoring and follow-up in the growth of startups:

http://creativethinkingventures.com/