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on March 28, 2013
The lean startup movement is entering an exciting new phase, with big picture theory + evocative anecdotes giving way to careful case studies and more refined analysis of how to apply lean as a management discipline. The O'Reilly Lean Series is of course central to this transformation, and this Lean Analytics book in particular is a fantastic contribution.
I especially appreciated the clear exposition on key startup types (SaaS, E-Commerce, Media etc.) and the thorough analysis of what a customer funnel looks like for each model. If some of this material covers old ground, it does so in a fresh and easy-to-consume way that is valuable for novices and experienced practitioners alike. The case studies are also excellent and clearly reflect a significant amount of careful and passionate research.
My one gripe for the book is that there is too much time spent on lean startup refresh. I understand the urge to get readers on the same page, but it seems unlikely that many readers of a "lean 2.0" book such as this would not have the basics down, and so some of the material feels a little basic and repetitive. I would have rather seen less intro theory and more deeper dives on advanced issues like different ways to approach cohort analysis.
In any case, it's awesome work and well worth a read for anyone who cares about web analytics and applying lean in a systematic way.
I especially appreciated the clear exposition on key startup types (SaaS, E-Commerce, Media etc.) and the thorough analysis of what a customer funnel looks like for each model. If some of this material covers old ground, it does so in a fresh and easy-to-consume way that is valuable for novices and experienced practitioners alike. The case studies are also excellent and clearly reflect a significant amount of careful and passionate research.
My one gripe for the book is that there is too much time spent on lean startup refresh. I understand the urge to get readers on the same page, but it seems unlikely that many readers of a "lean 2.0" book such as this would not have the basics down, and so some of the material feels a little basic and repetitive. I would have rather seen less intro theory and more deeper dives on advanced issues like different ways to approach cohort analysis.
In any case, it's awesome work and well worth a read for anyone who cares about web analytics and applying lean in a systematic way.
on June 27, 2014
Lean Analytics is a great fit within the “Lean Startup” movement. The book provides a very comprehensive overview of the different metrics worth tracking and – most importantly – offers a clear rationale as to why certain metrics should be tracked for a specific business model at a given stage.
Before going on to explore how metrics can be applied to different business models, the book does a great job in explaining what makes a good metric:
Comparative – Being able to compare a metric to other time periods, groups of users, or competitors, helps you understand which way things are moving.
Understandable – If people can’t remember it and discuss it, it’s much harder to turn a change in the data into a change in the culture.
A ratio or a rate – Ratios or rates tend to be easier to act on, they are inherently comparative (see the first characteristic above) and they are good for comparing opposing factors.
Changes the way you behave – What will you differently based on changes in the metric?
The thing I liked most about Lean Analytics is that all of it makes perfect sense. The book provides a well thought through approach to making sense of something that can be complex and challenging at times: data.
Before going on to explore how metrics can be applied to different business models, the book does a great job in explaining what makes a good metric:
Comparative – Being able to compare a metric to other time periods, groups of users, or competitors, helps you understand which way things are moving.
Understandable – If people can’t remember it and discuss it, it’s much harder to turn a change in the data into a change in the culture.
A ratio or a rate – Ratios or rates tend to be easier to act on, they are inherently comparative (see the first characteristic above) and they are good for comparing opposing factors.
Changes the way you behave – What will you differently based on changes in the metric?
The thing I liked most about Lean Analytics is that all of it makes perfect sense. The book provides a well thought through approach to making sense of something that can be complex and challenging at times: data.
on April 9, 2014
Very often the "Lean Startup" movement can be very theoretical and academic, but Lean Analytics give is some teeth and meaning.
IMO, the most important concept that this book promotes is the pairing of metrics with business stage. Way too often companies define their key metrics without taking their stage into account (ie - the board will say, "We have to focus on Cost of Acquisition!" when the company is still trying to figure out product/market fit).
I also love how they broke the book down by business-type, allowing the reader to quickly access the most relevant parts without having to weed through topics that don't relate to their business.
Bottom-line, this is a book that I recommend to all my startup friends. It's super helpful and presents concepts that you come back to over-and-over as you grow your business...
IMO, the most important concept that this book promotes is the pairing of metrics with business stage. Way too often companies define their key metrics without taking their stage into account (ie - the board will say, "We have to focus on Cost of Acquisition!" when the company is still trying to figure out product/market fit).
I also love how they broke the book down by business-type, allowing the reader to quickly access the most relevant parts without having to weed through topics that don't relate to their business.
Bottom-line, this is a book that I recommend to all my startup friends. It's super helpful and presents concepts that you come back to over-and-over as you grow your business...
on March 3, 2015
I found it to be one of the most complete books on business performance management. From page one, you find yourself immersed in KPIs, metrics, various scenarios, giving you all the information that you need if you are serious about getting a business on the road. What I found to be the most valuable resource offered by this book was the way it presented the applicability of the LEAN methodology to performance management through real world case studies. Still, I would recommend this book as a reference, as you will most likely have to come back to certain parts due to its overwhelming amount of data and information that it contains.
on March 22, 2013
I've read most of the books in the lean startup world and wasn't specifically looking to another book on the topic. Still, I've never been satisfied with the high level principles and soft metrics that the other books in the area have offered. Everyone thinks they're doing "lean" by having short dev cycles, talking to users, and measuring things. "Lean" is the most bastardized term in all the land. When I came across this book the pitch sold me right away. I'm leaving this review because this book very much delivered on its promise. It shows you HOW without being overly prescriptive or assuming it has a "formula for success". It gives you specific concrete metrics to watch for your type of business, what healthy looks like for those metrics, and how you can actually measure whether you're making progress. Things that are often talked about in startup circles but rarely done well.
If you buy into the whole lean startup philosophy, this is a must read.
If you buy into the whole lean startup philosophy, this is a must read.
on November 7, 2013
As an implementer of lean in the manufacturing sector and a on-line business owner I had great hopes for this book. Although most of them were met, I still was looking for a bit more insight. The chapters on each business model provide a nice survey of potential metrics and some great case studies, but overall it did not give me enough insight to really get to the heart of what makes a great lean start-up metric. There is real art in measuring meaningful performance in the startup world and I was hoping for a bit more on this front. However this is a good book for anyone who wants an introduction to the concepts.
on October 3, 2014
Excellent follow up to the Eric Reis' book. This is a book you will keep at hand and go back to, at each stage of your startup's development.
While the authors provide a very useful list of business models and the relevant metrics, it is a starting point. One needs to identify and apply metrics that are more relevant to the industry and context that the startup is in.
I only wish the treatment of Intrapreneurship was done more justice. Guess a follow-on read of Tom Peters' Re-Imagine will help.
While the authors provide a very useful list of business models and the relevant metrics, it is a starting point. One needs to identify and apply metrics that are more relevant to the industry and context that the startup is in.
I only wish the treatment of Intrapreneurship was done more justice. Guess a follow-on read of Tom Peters' Re-Imagine will help.
on May 30, 2015
This book is great. It gets the vanity metrics out of the way by defining what a good metric is, differentiates between business models and marketing tactics, and gives you the key metric you need to be focusing on based on the type of startup. It also references other important startup concepts that you need to get up to speed on - but while they were at it, they should have mentioned Crossing the Chasm (Geoffrey Moore).
on January 10, 2014
This book has several gems. Highly recommended.
Focusing on the One Metric That Matters forces you to run targeted experiments, to find the hard truths about your product, and to push things forward.
The model of startup phases was very useful. It argues that successful startups move from from empathy to stickiness to virality to revenue to scale. It gives useful criteria for determining which phase you are in, how to decide to move to the next stage, and why you should stick around in your current phase for as long as it takes.
I loved the practical advice for important metrics for each phase, what your "line in the sand" should be for the metrics, and a strategy for maintaining the metric after you've moved to the next phase.
The discussion on types of business and the applicable metrics and case studies is gold. I found the advice for internal entrepreneurs to be spot on, and a good complement to The Innovators Dilemma.
I was hoping for some practical advice on analytics packages, aggregating analytics, and presentation. There is a little bit there, on recognizing vanity metrics, and using the first- and second-order derivatives to get actionable analytics. I found it lacking on actual recommendations of software I could buy or license. However, when I went to investigate online offerings, I was able to quickly determine if a package fit my startup's phase and business type. The framework made it easier to make my own choices, and to recognize that I'm going to have to do some of the work to create analytics that apply to my projects. I imagine the different vendors will focus their pitches toward Lean Analytics readers in the future.
I expect this book will earn a place on most founder's shelves, next to the Lean Startup and others, but with a lot more bookmarks and notes in the margins.
Focusing on the One Metric That Matters forces you to run targeted experiments, to find the hard truths about your product, and to push things forward.
The model of startup phases was very useful. It argues that successful startups move from from empathy to stickiness to virality to revenue to scale. It gives useful criteria for determining which phase you are in, how to decide to move to the next stage, and why you should stick around in your current phase for as long as it takes.
I loved the practical advice for important metrics for each phase, what your "line in the sand" should be for the metrics, and a strategy for maintaining the metric after you've moved to the next phase.
The discussion on types of business and the applicable metrics and case studies is gold. I found the advice for internal entrepreneurs to be spot on, and a good complement to The Innovators Dilemma.
I was hoping for some practical advice on analytics packages, aggregating analytics, and presentation. There is a little bit there, on recognizing vanity metrics, and using the first- and second-order derivatives to get actionable analytics. I found it lacking on actual recommendations of software I could buy or license. However, when I went to investigate online offerings, I was able to quickly determine if a package fit my startup's phase and business type. The framework made it easier to make my own choices, and to recognize that I'm going to have to do some of the work to create analytics that apply to my projects. I imagine the different vendors will focus their pitches toward Lean Analytics readers in the future.
I expect this book will earn a place on most founder's shelves, next to the Lean Startup and others, but with a lot more bookmarks and notes in the margins.
