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Lea Abboud
Lea Abboud
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Growth at TechToronto

Helping build Toronto's technology ecosystem through education, connection, and partnerships.ย 

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Lea Abboud , Growth at TechToronto

Compensating advisors makes them more invested in your business since they will have a personal stake.

A good question to ask yourself is "What value do they bring?", nail it down to a monetary value and multiply it by the number of hours spent.

Depending on how "early" your business is you can also compensate them with an equity stake that typically ranges from 0.15%โ€Šโ€”โ€Š1%.

Lea Abboud , Growth at TechToronto

Here's a simple framework through which to think about data:

  1. Collecting data
  2. Pulling insights
  3. Reporting & communicating findings

Collecting data

Use Google Analytics, Kissmetrics1, Woopra1, etc. You'll want to find a tool that fits with what you're interested in measuring. This will vary depending on your business model. Different types of measures vary between growth metrics, transactional metrics, engagement metrics, etc.ย 

Knowing what not to measure is sometimes just as important, if not more important than knowing what to measure. Make sure to stay away from those vanity metrics.ย 

Pulling Insights

Next step is to understand what the data is saying to answer questions you may have about your business. Examples include questions like "How much of our monthly traffic is returning visitors?", "Are people engaged on the site? Or are they bouncing off?", etc.

Reporting and communicating findings

A crucial step is properly communicating your findings with your team. How can your new found insights empower your company to make better decisions? Again, be careful to differentiate between vanity metrics and important ones. Does your developer really need to know how many new Instagram followers your company has gained? Or would they benefit more from understanding the types of devices people are using when visiting your website or using your app?

Find a reporting method that works for you, whether it's a dashboard or a spreadsheet and then find a channel to communicate it with your team, this could be email, slack, or company-wide meetings.

Lea Abboud , Growth at TechToronto

Hi Eli,

Discounts are available for TechToronto members! You can learn more about our membership program by visiting this page (membership.techtoronto.org)2.ย 

To summarize it: each member receives one free ticket each year plus unlimited discounts to any TechToronto-produced event across every community in our organization: TechTO, FintechTO, SalesTO, HealthTO, RetailTO, MarketingTO, TravelTechTO and even our special events.

Learn more about the discounts and special experiences members receive by visiting the FAQ page3.

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