On Getting Traction
Traction, traction, traction, traction. I can't say it enough; traction is a crucial determinant for success in your business. I was reminded of that last week when I had the absolute pleasure to attend AUT's entrepreneurial X Challenge.
And after nine weeks, the students got to present their startup concepts to an audience and a panel.
The eight presentations all stood out for their pitch quality and innovative concepts. But one founder I wanted to mention today was a few steps ahead of the other presentations. He had proven traction.
Whether you are a startup, still figuring out your concept, you are launching a product into the market, or you're looking for your next growth opportunity as part of a larger company, traction is what makes it happen.
Today, I wanted to share with you the three reasons I believe traction helps your business.
Momentum
Traction gives you is momentum.
If you have managed projects in the past or started something from scratch, learned a new skill, learned a new language, or tried to break into a new market, you'd know well that getting started is the hardest.
The hardest thing is initiating something and getting the ball rolling. And I love the analogy of getting the ball rolling because it takes a lot of force, a lot of energy to get the first few roles after which the ball starts to get a bit of momentum and starts rolling itself.
Metrics
Traction demonstrates your metrics.
Peter Drucker famously said that 'you can't improve what you cannot measure'. And when you can get metrics, you're able to measure how you are currently tracking towards your strategic goals. Metrics allow you to look at what you're presently doing and will enable you to improve it. It's also great for telling you how fast you're growing.
Mindset
Lastly, traction demonstrates your mindset and how focused you are on growth. It indicates that you are an executor. People love doing business, and people love backing others that can demonstrate that they can execute and progress towards their goals.
So whether you are raising capital, you are launching a new venture, you are entering a new market or finding your next a hundred customers, traction is huge in defining your success. Get that momentum, get the ball rolling, measure your metrics and keep executing.
Chase your traction,
Flavio Hangarter
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