GoRoadie helps connect learner drivers with driving instructors. Built by Michael and his partner in Dundee, they are dedicated to connecting learner drivers with a driving instructor that suits them, while creating tools aimed at making instructors day-to-day easier.
Running a startup is hectic.
Every day you are going into countless directions — one minute you have a marketing hat on, then the finance one, customer support and then, product development hat. Exhausting.
And with all that, it’s hard to answer the one crucial question: Are you achieving your goals?
When you are focused on building the business, time is limited to stop and take stock. But at GoRoadie we do — every month.
First, I should talk about how we set our goals at GoRoadie.
As a business, we also use a framework called Objectives and Key Results (OKRs) to set our high-level goals. This lets us set our fundamental objective — think moonshot goal. Then, our key results are how we accurately measure that we achieve this objective.
Once our OKRs are set, every week we identify metrics that we want to change, usually, these are directly tied to our key results. We then go and execute our strategy to achieve them throughout the week. At the start of the next week, we examine our progress and then repeat the process.
Monthly Business Review
However, at the start of a new month, this is when we fully stop and analyse every aspect of our business in great detail. These aspects include but not limited to:
- Monthly revenue
- Booking conversion
- Search page conversion
- Number of customers
- Our monthly spend — everything we spent money on.
- Up-time of our service
- Server response time
- Google analytics event tracking
- Our Google ranking
Our next steps are critical:
- Capture Data. We capture this data in a spreadsheet so we are able to compare to the previous months — it’s much also easier to graph 🤓.
- Celebrate the hits. We then sit down and discuss these numbers. The step for us is to see what we consider a hit — this is a strategy that worked well in that month, and we make notes to ensure we repeat this in the coming month.
- Understand the misses. The next step is to look at where we believe there could have been improvements. This is a place for the team to be vocally self-critical. Again, we take the lessons forward for the coming month to ensure we improve.
- Take actions. This is a list of actions we want to cover in the next month.
- Share. We share our findings with our board of directors to keep the entire business in the loop. This ensures that we are accountable for our actions.
The whole exercise allows us to see the true state of the business and gives us an opportunity to change the running based on real-world data.
Actions based on data
An example of us creating actions based on data collected in our Monthly Business Review is when we created a process for the customers that dropped off in our sign-up flow.
When analysing our data in February, we saw that we had 10 customers that did not complete the sign-up process, meaning we were further from hitting our Key Result of “XX number of instructors on GoRoadie in Y different locations”.
We then created a dashboard so we had full visibility of our dropped off customers, automated an email flow that allows us to engage with them and agreed on a manual text message to follow up with if the process wasn’t complete.
The next month, we saw our drop off rate decrease due to these actions. 🙌
It’s not limited to business
This process could also work in product development teams.
Performing this exercise with product development teams can boost accountability and ownership. As development teams look at how they are working, how much they are spending they can make decisions that will allow them to work more efficiently in the next month.
Instead of sharing the report and data to directors and investors, they would share to internal management.
GoRoadie is a UK-based startup, connecting driving students with their ideal instructors. We just launched our brand new Aberdeen Driving Lessons landing page, helping Aberdonians pick their ideal driving instructor.