As a technical, product-focused entrepreneur, I find more comfort looking at quantitive metrics and data as part of growing a business. Of course, that’s not the full story. There’s a wealth of qualitative information that needs to be assessed such that decisions are made with both quantitative and qualitative information.
Here are a few thoughts on balancing quantitative and qualitative information:
- Startup stages, like idea and seed, have such small sample sizes that quantitative data is often minimal (still important to track)
- Besides tracking the operational metrics, look for ways to answer the “so what” questions (meaning, often times you have to dig deeper and figure out underlying trends)
- Strong internal meeting rhythms ensures there’s a time and place for continuous qualitative feedback
- Leadership tools like the weekly team update incorporate both quantitative and qualitative information
Building a successful business requires both quantitative and qualitative information. Ensure there’s a healthy balance with the two and build systems to track the data and the human feedback.
What else? What are some more thoughts on balancing quantitative and qualitative information?
David Cummings on Startups 