How to effectively measure corporate venturing success.
A practical framework made with Bundl Venture Club members to help you navigate the ambiguous world of venture metrics.
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35 pages · PDF and online- Why the commonly used venture metrics do not tell the venture's story
- The NICE framework: non-financial, implementable, contextual, evolving
- Metric examples by category, and how they change as a venture matures
By Anne Boyle, Senior Venture Architect and Thomas Van Halewyck, CEO
Venture metrics borrowed from the core business measure the wrong thing.
Two things became clear in putting this together. The metrics companies commonly use do not tell the whole story of a venture, and there is no one set that works across ventures, even inside the same portfolio. What you measure has to depend on the phase and the decision in front of you.
Not everything that can be counted counts, and not everything that counts can be counted.
Why the usual metrics fail, and what to use instead.
The NICE framework is built around the point of measuring at all: informing the next decision, rather than reporting the last quarter.
See what your current dashboard cannot tell you
- 1They do not tell the storyCommon metrics miss most of what a venture is doing
- 2There is no single setNot even between two ventures in the same portfolio
- 3The question changesComparing at launch is not comparing across phases
Measure in a way that informs the next decision
- 4Non-financialWhat matters before there is revenue to count
- 5ImplementableSomething the team can actually gather
- 6ContextualFitted to the venture's phase and purpose
- 7EvolvingChanging as the venture does
Built to inform a decision.
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