how startups gain and maintain traction- chris schelzi
TRANSCRIPT
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TractionFind Your Growth Engine
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“Quantitative evidence of customer demand”
- Naval Ravikant, AngelList
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If You Build It,They Will Come…
Oh no, never mind…
Idea that the product will speak for itself…going on a date in your underwear
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Build The Right Product For
The Right People
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Determine Your Growth Engine
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Test Your Assumptions…And
Have Assumptions
Collect data so you know what works and what doesn’t
Make it very simple, but have something you want to measure
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Stop Being Scared of Your Customers
You need to talk to people. Don’t build in isolation. This can save you tons of time and help you narrow your focus.
Charlie on calls, fine tuning the pitch. Seeing where their eyes light up or go dead
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The Bullseye Strategy
3 levels, what’s possible, whats probably, what’s proving
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Look AcrossInvisible Walls
Movie Theatre. Not just competing with movie theaters but also with resturants, mini-golf, etc. How are those places attracting customers?
Also, what are the other pieces involved? Babysitters
Also, usually the traction method of your industry is oversaturated so by utilizing an underused method you can be much more effective. i.e. social media ads vs webinars
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Don’t Aim For Scale
do non-scalable activities. Calling customers, doing speaking events, sending personalized emails,etc. Once you have a firm grasp, you can scale from there
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Punctuated Equilibrium
rarely do strartups growing gradually, they grow in spurts. They’ll strike upon one growth engine that serves them very well, then it dies down, they they find another one etc.
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Creativity Through Constraints
Don’t try out every method. At least at the same time. Set a time limit, an effort limit, and a cost limit. i.e. one month, 100 dollars, 2 hours a week.
Test but don’t overwhelm , otherwise data is irrelevant
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Sexy Tactics…And Candy Too!
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You May Want To Take Notes…
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Strikingly
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AdEspresso
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Perfect Audience
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Programming For Marketers
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Code Academy
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LeadPages
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Pay With A Tweet
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Stealth Seminar
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KingSumo
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Social Media Engagement
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Meetups!