Lines in the sand
Lines in the sand
"Lines in the sand" are baseline values for key metrics that can help you understand whether your startup is on the right track. They are a way of answering the question, "Am I good enough?"
The idea is that you need to know what's "normal" for your business model and stage, so you can set realistic goals and know when to move on to the next stage.
For example, if the average conversion rate for an e-commerce site in your industry is 2%, and your conversion rate is 0.1%, you know you have a problem. On the other hand, if your conversion rate is 3%, you know you're doing well and can focus on other things.
Lines in the sand are not fixed. They change over time as industries mature and new technologies emerge. But they provide a useful benchmark for measuring your progress and making decisions.