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- เผยแพร่เมื่อ 28 มิ.ย. 2024
- Traction is key when pitching venture investors, yet most founders do a poor job describing it.
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From pre-revenue early traction to post-revenue momentum, this #DreamitDose will teach you how to present traction like a boss!
While good founders know how to get startup traction, few excel at showing startup traction well during investor pitches. Investors will press you on these metrics and founders need to know how to answer startup traction questions. By following the right strategy to present traction, you can avoid many of these probing questions. There is no universal template for winning startup traction slides; traction slides will need to change relative to the stage of your company. We’ll cover every stage in this video so you know how to show traction that matters for your startup right now.
Answering startup traction questions should often come with an inward reflection from founders; what’s missing from my pitch that is prompting these questions? Founders won’t know how to show startup traction without understanding startup traction on an intimate level. For those seeking general tips on how to startup traction, we recommend the book Traction by Gabriel Weinberg. In this video, Dreamit Ventures Managing Partner Steve Barsh shows you how get traction startup investors care about and ultimately how to pitch traction to them. We’ll help you excel at explaining startup traction and crafting the traction pitch deck you present to investors. Highlighting startup traction is easy is when founders follow the right framework.
That’s how to talk startup traction like a boss in a short, digestible Dreamit Dose.
Dreamit’s Rising Founder Program - For current and aspiring founders, we encourage you to join at www.dreamit.com/rising-founde....
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I hope founders and startups find this useful. So many need to do a better job describing their traction and not talk about "faux traction" and/or mischaracterize their traction trying to make things look better than they are. The better thing to do is be honest and accurate with your traction, talk about how it's changing over time, and then where this is all headed. Hope you find this helpful! If you have questions, please post them in the commewnts.-- Steve
@Marilyn Crawford If you are pre-revenue, you need to talk about what traction you do have if it's not "revenue" traction. E.g. have you talked to 30 potential customers, tested your pricing with them, and what was their reaction? ("We talked with 30 customers and 90% said they would pay $1000 per month for the value we would deliver."). Or maybe you did a Google Adwords or Facebook ads test and found that with an average of $5 CPC, once the potential customer landed on your site, 10% clicked on "sign me up for early access where I'll get 30 days free and then pay $100 per month). So figure out what traction you can point to and talk about it in detail, and quantitatively.
Hope this helps. - Steve
Just love these videos!! Please keep them coming, so helpful!
When searching for thoughts on traction at the seed round of funding, I found this to be point on. Looking forward to consuming more content.
Got a startup? Join Dreamit's Rising Founder Program for current and aspiring founders! www.dreamit.com/rising-founder-program
I thought it would be some kind of vetting waitlist for the accelerator! lol
@@zwitterion1 Thanks for checking it out! Our Rising Founder program is a great way for us to connect and stay in touch with the entrepreneurial community. There will be live events and content specifically for that program more and more in the months to come. Hope you can join!
Great information, Steve! So helpful to see the Pre product traction kpis. I can prove these metrics without hypotheticals or assumptions.
Fantastic video!! Great pointers on how to present the traction at different stages!! 👌👌
Steve, Hi from down under! I have been watching and learning great tips and knowledge from your videos, they are an absolute goldmine of info for entrepreneurs! Thanks for sharing!!
Great advice, thank you.
OMG.... soooo insightful... best video on pitch I have seen. Please keep more content like this coming
I’m so surprised how few people subscribe to this. I’m sharing with my entire entrepreneurial program.
Subscribed 👍
Thanks a bunch
This was very helpful
Thanks Steve. Truly a value watch. I thought 'traction' was a chicken and an egg topic that i thought would never hatch for me until now. This whole time I had been over complicating shit.
We have pitching today, that's helped us lot thank you from India
OMG, love this!
Thanks for watching and glad you liked it!
sooooo helpful
Love these Dreamit Dose videos. Well done guys. Solid gold.
Glad you like them and are finding them helpful. Thanks for watching!
@@stevebarsh7727 well done, thank you
Thanks Steve for this is useful content!
Jonatan Gonzalez My pleasure. Thx for watching!
Hello Steve, thank you for the video! About the topic "Focus on traction for one product", should I even show informations anywhere on my pitch deck about the other products that we are working on, and their revenue?
Greatings from Brazil!
Thanks for watching Pedro. Sure, you can talk about traction and revenue for other products and other parts of your business. Just be careful to clearly label the traction for each product.
@@stevebarsh7727 Got it! Thanks!
I'm actually happy to see VCs seeing through BS traction. I have seen companies getting funded in Kenya on traction I knew to be impossible in this ecosystem and industry. They were expat founded and we were local. It was unbelievable but eventually, the VCs cottoned on, took them a few years first though!
Can you say an example of the BS traction that was sold to vc, and what was your reasoning in knowing that promised traction was not possiblem
Thanks a lot Steve.. your videos are very informative. Just one question, what could be the traction if I’m in the early stage and the purpose of presenting my pitch deck is to get accepted by the incubator…..
The startup is not yet established and I need to meet a committee to present my business idea for startup program?
Thanks again
Lousy 4X4 off roading video, but really good for my quantum tech startup. Really enjoyed it. Bloopers at end humanize you. Will try to adapt your advice. We have one client, a port, who may expect us to increase their $10B revenue by 10%, then resell us to other seaports. Any suggestions?
Hello Steve, a quick question. Would you consider the lines of code written or the features and functions built as traction during the product development stage?
And if I can request a video, could you make a video about Dos and Don'ts in cold emails and cold calls to investors?
Thanks again!
Thx for watching @Vishnu! Look, if you are still building the product, one thing I would stress is how many users or potential customers you've spoken with before the product is even done, that have given you a strong, positive indication that this solves a big problem for them or provides a big, unique benefit. That does NOT always work - particularly if you are creating something groundbreaking that's b2c. So hard to do with Snapchat e.g., But I find for 90%+ of business it's important to get customer feedback super early (before the product is built) and you can talk about that as a type of traction. If you don't have that, you could talk about code or delivered functions like traction, but most investors won't' give it much weight. And perhaps you don't want to talk about it as "traction." Instead, talk about "where you are" in getting the product to market. Hope that helps.
And we'll keep in mind your idea about email do's and don't. Here is something we shot years ago about being an "Email "Email Ninja." It's not a "Dose" so much longer. Watch it at 1.5x speed and you'll get a good understand of how we think about the topic and it should have some solid ideas for you. -- Steve. th-cam.com/video/K_4a4zzJ_eo/w-d-xo.html
Final point - if you find our content helpful, posts to social (e.g Twitter and Linked) linking to the content are greatly appreciated. And if you tag me at @sbarsh and @dreamit on Twitter or tag us on LinkedIn we'll make sure to like and comment. TIA!
@@stevebarsh7727 Absolutely will do! Your content has been extremely helpful and off the media platforms I already have my fellow entrepreneurs watch them. Thanks again for the link.
good question
You are such a handsome Dude.. :)