Running a successful startup solely on gut instinct is not feasible. As startups grow, there are more chances for unforeseen problems to arise. That’s why it’s crucial to track startup metrics using data visualization tools, financial reporting software, KPI software, and reporting software solutions. Startup metrics are measurable KPIs that provide insights about revenue generation, user acquisition, customer engagement, operational efficiency, and overall growth. Tracking startup metrics allows you to monitor financial health, measure revenue efforts, track gross profit, evaluate the bottom line, understand cash runway, build a loyal customer base, and shape product performance. Not tracking startup metrics can lead to selling products with losses, productivity leaks, missed opportunities, and discovering problems too late. On the other hand, tracking metrics provides valuable insights that help steer the business in the right direction. To track startup metrics, focus on the data that is necessary and useful, and ignore the irrelevant data. Context is important, so consider trends rather than fixating on a single data point. As for tools, starting with spreadsheets and building templates can be a cost-effective option.