Week 7 Slides

Transcript

1. S “Traction demonstrates that your business hypothesis is grounded in reality.” - Eric Ries
2. S “Our plan was simple, but the web page never really worked properly.” - Fashion Ducks
3. S “We’ve redesigned the product. We’ve renamed the company. We’ve poured hours into building a tangible product that we can sell to the people. Now it is time to sell it to the people.” - Discover Drive
4. S “Many of the businesses were uninterested in our venture proposal and turned us away.” - ChatterU
5. S “Out of the fifty people we sent our product to, nine responded to our request for feedback.” - MyUSA
6. S “Brennan has been posting flyers around DU to draw in the food allergy population.” - iAllergy
7. S 1. What did you do? 2. How much revenue did you generate? 3. What was the biggest challenge?
8. S 1. Hypothesize. 2. Build it. 3. Market it. 4. Measure it. 5. Repeat.
9. S How do we know if we have traction?
10. S Objective & subjective methods
11. S Objective: funnel analysis & conversion rates
12. S
13. S 49% improvement
14. S Subjective: Why didn’t they buy?
15. S Have an honest conversation.
16. S What’s working and what’s not working? Product and sales.