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North Star Metric*. Why would a stratap do that?

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Founder (founder) of the startup "Bot for micro-learning of adult soft skills"

The founder has a request. "How to grow revenue and analyze through which channels customer acquisition will be more effective?

Founderin

The expert is Yan

Here's what it would look like in the case of a lecture from an expert about an introduction that a startup should consider.

Hello, Yin! Did I understand correctly from the presentation and message that you are creating a micro-learning bot for adults to develop soft skills, for example, to hone their communication skills? I would advise you to pay attention to the "North Star Metric (NSM)" tool

Imagine: You are sailing on a boat. There may be all sorts of fancy features on board your startup, but without an NSM, you have no idea if you're heading to your destination. The North Star metric gives you a clear, single focus — the ultimate measure of your micro-learning bot's impact.

Now here's why it's so important for your micro-learning bot:

Targeted improvement: The soft skills that can be developed are garinless. The North Star metric will help you determine what "success" means for your users. Is the credibility of presentations increasing (according to surveys)? Improving negotiation skills (tracked through role-playing games)? Focusing on one key metric directs your bot's content and features to achieve that specific goal.

The advantage of prioritization. Creating a bot is an ongoing process. You will have a lot of ideas about features and content. But the NSM indicator acts as a filter. You can prioritize features that directly contribute to the growth of your metric, ensuring that your resources are well spent.

Demonstrate value: imagine offering your bot to investors or potential partners. The NSM metric allows you to visually demonstrate the effectiveness of the bot. You can demonstrate how this noticeably improves user skills, making your bot a valuable tool.

Here are some potential North Star metrics for your micro-learning bot, depending on your focus:

  • Increased Confidence: Surveys that measure user confidence before and after using the bot for presentations, public speaking, or negotiations.
  • Application of skills: Track the percentage of users completing practical exercises using a bot that simulates real-world situations in which they can apply their soft skills.
  • Behavioral Changes: Collaborate with companies using your bot and measure changes in observed behavior, such as improved communication skills or conflict resolution.

Remember that the best "NSM" metric is specific, measurable, achievable, relevant, and time—limited (SMART).

So, Yin, choose your North Star (NSM) carefully and thoughtfully. It will become your destination, ensuring that your micro-learning bot will really help adults navigate the vast ocean of soft skills development.

Let's consider another approach.

Communication between the founder and the mentor

And how could the dialogue between the founder and the mentor go?

Mentor: So you've created this micro–learning bot that helps adults develop their interpersonal communication skills - it's great! Have you ever wondered how you can focus on product development? And what functionality is needed first of all?

Founder: We are prioritizing tasks for ICE* and we are taking those features that will gain more into development.

Mentor: It's interesting. And how do you determine which features will lead you, for example, to revenue growth or an increase in customers? The Founder: We believe that by increasing the new functionality, we attract more customers.

Mentor: What if the feature/and didn't work? And how do you decide what to do next?

Founder: We are thinking. And we reassemble the backlog, we go to visit clients.

Mentor: Great. Have you ever heard of such income as the allocation of North Star Metrics for your product?

Founder: NSM? Do you mean the number of users or daily interactions?

Mentor: Mentor: Not really. Think of it this way. Your bot is a boat filled with features that help people navigate the sea of soft skills for adults. But without the NSM, they will not know if they are really heading to their destination, namely to master these skills.

Founder: Hmm, an interesting point of view. So, what will the North Star metric look like for my bot?

Mentor: The whole point is to define what "success" means for your users. Let's say their goal is to increase confidence during presentations. We were able to track this through surveys, measuring their confidence level before and after using the bot for presentation-specific modules.

Founder: It makes sense. But what if their goal is something more abstract, like improving negotiation skills?

Mentor: No problem! With the help of a bot, you could track the performance of role-playing simulations. If users actively participate in these simulations and perform them, it indicates that they are developing their negotiation skills in practice.

Founder: Interesting. Can we even track changes in behavior in the real world?

Mentor: Of course! If companies use your bot and watch employees demonstrate improved communication or conflict resolution, these are signs of your product's success! Partnering with them could help us measure this kind of behavioral change.

Founder: It makes me think. So, this NSM metric should be specific and measurable, right?

Mentor: Exactly! Achievability, relevance and time constraints are SMART indicators. It guides the development of your bot and ensures efficient use of resources, creating a truly effective tool.

Founder: Thank you, Yan! The "NSM" indicator is probably, figuratively speaking, a "Beacon for my bot",))) leading it to the ultimate goal — to make adults confident and qualified. I will definitely brainstorm on some options based on my user orientation. Which approach is closer to you? Well, if you are a startup founder. We will be able to discuss with you your development and in particular the NSM of your product.

*North Star Metric is the most important metric reflecting the long—term success of your product or service. It reflects the core value that you provide to customers and serves as a guideline for all your product development decisions.

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Было интересно ознакомиться, спасибо автору за статью

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у вас в названии опечатка пошла

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Алкен, привет! Спасибо 🙏 Поправлю

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