Startup Boards — Impact Metrics
In raising funding, you need to show your metrics.
Startups in the impact space should also show their impact metrics, as investors will look for your results there.
A common mistake by impact companies is to focus on the size of the market to be served and the needs in those markets.
Instead, you should measure the actual impact results of your business on the market you are serving and show those results.
For example, how many students graduated, how many bottles of plastics were removed from the waste stream, how many students improved their test scores?
Focus on the primary impact which is on the customer, rather than the secondary impact which is on the employee of the business.
There are several metric systems, including GIIN’s IRIS+ metrics (https://iris.thegiin.org/metrics/), the IRIS Thematic Taxonomy (https://iris.thegiin.org/document/iris-thematic-taxonomy/), and the Impact Management Project (https://impactmanagementproject.com/impact-management/impact-management-norms/).
In short, no one system covers all impact sectors.
Check out the Sustainable Development Goals site (https://sustainabledevelopment.un.org/?menu=1300) for the categories of impact metrics to see where your deal fits.
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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.