title: North Star + Input Metrics — M&A Process source_agent: pm:north-star created: 2026-04-09 status: research

North Star Metric — M&A Process

North Star Metric: "Progress Toward Vision-Aligned Outcome" = (Targets screened × couple-fit signal weight) + (Targets in diligence × vision-fit rubric score normalized 0–1) + (Binary: LOI signed OR defensible-no decision reached with ≥80% rubric coverage).

Target: Reach "Outcome" within 120 days or declare pivot to build-from-scratch.

4 Input Metrics

1. Targets Screened — Count of candidates evaluated. Source: targets/screening-log.md. Tracks pipeline breadth. Target ≥12 within 60 days.
2. Fit-to-Vision Coverage % — Share of rubric dimensions assessed per target. Source: specs/evaluation-criteria.md + target files. Ensures no dimension is blind-spotted. Guardrail ≥85%.
3. Targets Advancing to Diligence — Count moving from screening to financial/legal deep-dive. Source: targets/*/diligence-status.md. Tracks momentum. Health metric: ≥2 by day 45.
4. Weighted Rubric Delta vs. Walk-Away Threshold — Aggregate vision-fit score minus go/no-go threshold (18 of 25). Measures confidence margin. Guardrail: winning candidate must score ≥20/25.

Health & Guardrail

• Health Metric: Days-to-first-diligence ≤30 (reveals market responsiveness and decision urgency).
• Guardrail Metric: Couple-ratio floor ≥60% per target (hard blocker; non-negotiable per VISION.md).