Now, more than ever, startups and small businesses need to be relentlessly focused on the metrics that matter to their success. Ali Goldstein Norup, Founder of kpiReady, knows that tracking and communicating key performance indicators (KPIs) can make the difference between success and failure.
Hi Ali! What's your background, and what are you working on?
Short answer: biz dev and finance.
Long answer: I am the CEO and Founder of kpiReady, which streamlines data collection and reporting for SMEs. I bring nearly 15 years of business development and client relationship management experience, working for world-renowned institutions such as JPMorgan Chase, New York University, and the University of Chicago. I also have a deep understanding of the needs of SMEs having started several businesses myself and marketed to SMEs. In addition, I have an MBA from NYU Stern.
Who are the founders and key team members?
I am the CEO and Founder.
What motivated you to get started with kpiReady?
Coming from finance and business development, I am used to reporting on a regular basis and focusing on key performance (and predictive) indicators. There is not a centralized tool that makes it easy for founders to track and send KPIs, or gives them KPI recommendations and guidance on top of it. I was shocked, and the team dove straight into finding the best solution for this pain point.
"Statistics show that companies who track KPIs outperform and survive."
This is especially critical when three out of every 10 businesses fail within two years. And more companies do not fail but rather continue to struggle, unable to compete in the marketplace.
Why is the team uniquely capable to execute the company’s business plan?
My background is in business development and finance and my team in engineering, operations, and entrepreneurship. We have been through the trenches of starting businesses before and are pulling on our expertise and networks to bring the best guidance and content to kpiReady.
What are the key differentiated features of kpiReady?
I truly believe that there are several:
We did deep research on the world’s best KPIs for your organization and hardcoded nearly 150 KPIs already into our product.
Our product - on top of streamlining data collection and reporting - makes it easy for you to setup your first report and reminders for the next one.
We make recommendations for you: we help you determine which metrics to report on and the proper frequency for scheduling.
We see a world where a founder has an idea and they can be supported and they can have the guidance to build a business to incorporate team/family/investors into their success. kpiReady sees ways that we will reduce the stress of starting (and running!) a company because we know that we will help them build out the functional side of their company.
What problem are you trying to solve with kpiReady?
Data collection and reporting is a hard pain point. There is not one tool that addresses this pain point all in one product, and we add data visualization on top of it.
"Founders are confused and the searching and finding the right KPI is hard."
How do you build a successful business when the team is not tracking towards a goal? How do you find a KPI (or KPIs) that helps the team keep connected to their true north star?
We took our deep business expertise across sectors and built a SaaS tool that goes beyond data and reporting. We start by sharing the most commonly tracked KPIs that pertain to your business currently. Then we get you to tracking your KPIs and reporting on them quickly and simply. Gone are the days of tracking in sheets, struggling for the right chart, and copying and pasting into an email.
Who is your ideal customer?
We are starting in our own backyard with early-stage startups. The pain point is acute, and we know it is one that small and medium-sized businesses have as well.
Startups are made up of teams and have investors and mentors/advisors. They need to report to these stakeholders….. However, the best companies track their KPIs and report on them on a monthly basis at best. And most do not go above that!
What is the target market size?
What do you know that your competitors don’t?
There are over a half a million small businesses created every month. A large number of those businesses - we suspect 499,999 of them - do not know how they should be tracking performance and showing their business’s traction.
We at kpiReady see a world where you can leverage the expertise of those who have come before you. We are creating a stress-free way to select, track, and report your KPIs. Founders and the team save time that can be poured back into the business.
Who are your competitors and what will give you a competitive advantage?
We believe that we do not have any direct competitors. There are some adjacent competitors, who do solve other problems which need solving. We combine reporting, data collection, and data visualization with data analytics. There are products out there that do one, maybe two of those specific sects. All-in-on!
Our competitive advantage truly comes from the way that we re-envisaged reporting. It starts with the report and truly blossoms from there!
What early traction have you seen so far?
We have tried to confine our test group but have been overwhelmed by interested - kinda blown out. Between startups, VC supporters, and accelerators, we really believe hope this can make a difference. Cannot wait!!
What's your business model, and how do you plan to generate revenue?
We are a subscription SaaS model.
What's your advice for other founders who are just starting out?
Reporting is tough! We know your pain, and we can help you - get help from those who came before you. Track yourself and your teams. We can help you go for it - not just diagnose pain areas but also documenting phenomenal growth!
What are your goals for the future of kpiReady?
After launching the product in the next few weeks, we will be working to get the word out about the product to founders and startup teams.
Where can readers go to learn more?