Week 7 Slides

8dcdeb1a9b321bec926daf7371c07da8?s=47 avistopper
May 16, 2013
Business
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Week 7 Slides

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avistopper

May 16, 2013
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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.