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Week 7 Slides
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avistopper
May 16, 2013
Business
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Week 7 Slides
avistopper
May 16, 2013
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Transcript
S “Traction demonstrates that your business hypothesis is grounded in
reality.” - Eric Ries
S “Our plan was simple, but the web page never
really worked properly.” - Fashion Ducks
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
S “Many of the businesses were uninterested in our venture
proposal and turned us away.” - ChatterU
S “Out of the fifty people we sent our product
to, nine responded to our request for feedback.” - MyUSA
S “Brennan has been posting flyers around DU to draw
in the food allergy population.” - iAllergy
S 1. What did you do? 2. How much revenue
did you generate? 3. What was the biggest challenge?
S 1. Hypothesize. 2. Build it. 3. Market it. 4.
Measure it. 5. Repeat.
S How do we know if we have traction?
S Objective & subjective methods
S Objective: funnel analysis & conversion rates
S
S 49% improvement
S Subjective: Why didn’t they buy?
S Have an honest conversation.
S What’s working and what’s not working? Product and sales.