“Where are you on traction,”
is one sure question you will be asked if you are talking about your start-up project to someone.
What is traction?
Unfortunately, there is no real objective measure. Traction can simply mean showing that you’re making progress with customers, product development, channel partners, initial revenue as a proof point, attracting well-known angel investors, winning industry awards/recognition.
Or, in other words, traction is your idea’s engagement with market or customer adoption
Traction is a general term and acquires a different parameter depending on your business building stage.
In order of importance, it is demonstrated through profit, revenue, customers, pilot customers, non-paying users, and verified hypotheses about customer problems. And their rates of change.
For an idea stage, it is through verified hypotheses about customer problem or pain point.
Traction means having a measurable set of customers or users that serves to prove that your start-up is “going places.”
A story without traction is a work of fiction
How is your start-up’s story coming along?