What are good metrics to measure the success of an MVP?

  1. That you can attract and convert unaffiliated demand
  2. That people will use, stick with, and refer others

That’s it. That’s what is MOST important and that’s what most founders actually fail to attempt.

Do not prove that you can build it. If you can’t build it, you should go back to a job. Saying you have it and that it can be done is meaningless… any amount of experience, skill, or money, can build anything conceivable (and technically possible).

Do NOT prove that you can get your friends, your city, nor your social group, to sign up. Doing that proves that you’re likely incapable as a founder because it effectively proved that you though your ability to convert friends needed to be proven.

Do not worry about metrics such as revenue, growth rate, cost per acquisition, or other business model metrics. You said MVP. That means minimum viable: will people seek, sign up for, use, and share this thing?

If they seek, sign up for, use, and share it, you can monetize it. We worry about the business model next. Now, note that I didn’t say “don’t prove” those other model metrics, I said don’t worry about them. If you can prove them to an extent, great! But don’t do so at the expense of the metrics that matter in an MVP:

  • That you can attract and convert unaffiliated demand

I want to see organic search demand

I want proof that you can convert it to sign up

I want a referral rate (direct traffic)

I want social media traffic NOT driven by your own posts

All the above: signing up for something.

  • That people will use, stick with, and refer others

Wanting, seeking, and trying what you’re doing isn’t good enough, that’s not viable, that’s proof that you know how to offer something people want. More, we need proof that people like/need what you are thinking.

Proof of that is in use, retention, and referral.

I want to see time on, and page views, of the app (not just a site)

I need to see a repeat use rate

I expect to see that people are sharing it

Prototype proves it can be done and that you can do it.

MVP proves that people care and that you can create demand and value in it.

THEN we figure out the business model.