To map your sales funnel, start with your goal of acquiring new customers and work backwards to determine the necessary steps and conversion rates needed to achieve that goal.

Understanding the sales funnel is crucial. Start by making a list of potential customers, which is known as prospecting or lead generation. Use tools like Google spreadsheets to organize this information.

You need to work backwards from your goal in the sales funnel to understand the drop-off at each step.

Mapping out the conversion funnel helps identify unnecessary steps that can be eliminated to improve user experience and conversion rates.

It's important to keep your analytics stack simple and effective; tools like Google Analytics or Amplitude are sufficient for early-stage startups.

Founders often don't understand what their analytics numbers represent, so it's crucial to know your data before relying on it.

Your product should provide value quickly to avoid losing customers who expect rapid payback on their investment, and self-proving value through analytics is essential to demonstrate the value delivered from day one, making it clear to customers how much they benefit.

When advising a Series B consumer company, I start by analyzing their acquisition channels, traffic conversion, retention cohorts, and how these elements interconnect.

A conversion funnel consists of the steps a user takes from landing on a website to completing a desired action, such as signing up or making a purchase.