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Here’s what you need to look for in a North Star Metric: As close as possible to the core value experience ... Aggregate number, not a rate or ratio—We’re looking for a number that will sum up the value across the entire market and potentially grow up-and-to-right over time... Simple and memorable—No North Star Metric is perfect. Some messages sent via WhatsApp may be spam, some items purchased on eBay may not be fully satisfactory to the buyer. That’s fine as long as the number is still generally indicative of total value.
Evidence-Guided
Itamar Gilad
One of the questions was “What kind of market research would you conduct if you were in the entrepreneur’s shoes?” In response, one of Sarasvathy’s entrepreneurs, trying to be cooperative, began to speculate gamely on the research that he might undertake. Then, in the middle of his answer, he abruptly stopped and reversed course. “I wouldn’t do all this research, actually,” he said. “I’d just go sell it. I don’t believe in market research. Somebody once told me that the only thing you need is a customer. Instead of asking all the questions, I’d try and make some sales.”
Decisive
Chip Heath and Dan Heath
Stephen Bungay points out that a good strategy statement often “looks banal” to outsiders. The value comes from the alignment you create through the continuous process of articulating the strategy.
Sense and Respond
Jeff Gothelf, Josh Seiden
...catch up on these, and many more highlights
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