How Do We Measure Results

Lean Strategies for Startups and Innovative Ideas Fundamentals of Lean Strategies for Business
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Transcript

How we measure the results in our lean startup. So, for doing the results measurement, we need to do some accounting for your innovation, we call them innovation accounting. So how it works is we is a quantitative financial model of assumptions so that we can measure our results against some benchmark. So now we are going to our traditional accounting is not accounting accounting for financial, p&l or any other thing is more on the desired outcomes, what we want in financial terms, how many customer what is the adoption rate? How much is the profitability, those are all accounting terms that we need to do? So even though it's a startup, we still need to have certain kind of traditional management.

This is a part of traditional management. So what are the steps in a normative accounting? So Wayne's very similar innovative accounts, we need us to understand where we are. So we need to see what What is our current situation? What are we actually currently having, then you have ideal goal and how to reach there. So innovation accounting also tell compare your actual status, where you are compared to your ideal goal where you want it to reach and how we are going to reach there.

And then we it will, it will help us to decide whether we should pivot or we should preserve how to decide that we're going to be discussing in the coming slides.

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