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STARTUP BUSINESSES
Traction is the best way to improve chances of startup success
“traction trumps everything”
Succes
s!
WHAT IS TRACTION?
• Traction is quantitative evidence of customer demand
• You can always get more traction
• Startup companies use traction to keep moving growth and gaining customers
The biggest mistake startups make when
ring to get traction is failing to pursue
traction in parallel with product
development.
TRACTION IMPORTANCE
• Traction is of equal importance as product
development and should receive equal attention
• Building product and testing traction channels should
be done In parallel
HOW DO WE GAIN TRACTION?
• Traction is created through customer acquisition
channels, also known as Traction Channels.
• 19 different traction channels
ISSUES WITH USING CHANNELS
• Startups focus on the same channels and often ignore
others(channel biases).
• Without tests it is hard to tell which channel works
best!
HOW TO PICK THE RIGHT CHANNEL
• The Bullseye Framework will help you find the channel that will
get you traction.
• The Bullseye Framework Systematically uncover strategies for
getting traction that you wouldn’t have found using other
approaches.
THE BULLSEYE FRAMEWORK
Step 1: Brainstorm
Come up with ways you might use each channel
Do not dismiss any traction channel
THE BULLSEYE FRAMEWORK
Step 3: Prioratize Identify your inner circle and pick the three tration channels that seem
most promising
Step 4: Test
Step 5: FocusingOne traction channel dominates in terms of customer acquisitionFocus on this channel
Repeat the process
TRACTION CHANGES
• Growth curves will flatten and what worked before will
not continue to move the needle.
• This is why it is important to repeat the bullseye
framework and test Traction.
TRACTION TESTING
Constantly running small traction tests will allow one to stay ahead
of competitors pursuing the same channels
This can be done with:
1. Inner Circle Tests
2. A/B Testing
3. Online tools(help understand and assess efficiency of traction
efforts)
4. Quantifying your results
CRITICAL PATH
• Draw out this path creating intermediate steps that are absolutely
necessary to get to your traction goal.
• Follow your first steps and nothing else!
• Once a step is completed reassess your critical path.
MENTORS
• Having a mentor(s) relevant to your traction channel and
business strategy is always wise.
• Preparing to meet with your mentor on a regular basis is a
forcing function that compels you to think more critically.
HOW IS TRACTION RELEVANT TO TREVOR
• Trevor’s (future)startup/business will require traction.
• This book outlines how to actively and efficiently pursue traction.
• All 19 of the channels listed has been the channel for bother
enterprise and consumer startups to get initial traction.
• Traction will be a reference for the traction channels I engage in
the future.