Getting traction is an iterative process that requires disciplined documentation and experimentation.
Fundamentals of Getting Traction for your Startup
Already Know The Fundamentals?
Right then. Let’s kick off with a brainstorming session to gather what you already know about your strategy and shape a plan for our next move in the field.
Otherwise, carry on reading below. You’ll learn the fundamentals to get to Product-Market fit.
The Product-Market Fit Loop
This is where we begin our quest. First, we’ll set our sights on Product–Market Fit (PMF).
Getting Product–Market Fit isn’t a straight line. It’s a learning journey. We gather real-world data, adjust our thinking, and head back out to test again.
We’ll follow a clear, structured process to make sure we’re moving in the right direction. That way, we won’t waste time chasing the wrong things.
Iterating through 4 steps to reach PMF
On our path to Product–Market Fit, we’ll start by shaping our current hypotheses about our:
1
Ideal Customer Profile (ICP)
2
Minimum Viable Product (MVP)
3
Pricing & Packaging (P&P)
And we’ll lean on:
4
Founder-led Growth
To make sure we’re gathering the right kind of data from the field.
Even if we think we already know our ICP, or if we’ve built an MVP, or especially if we have some revenue, if we haven’t iterated and documented what we’re learning from real conversations, we’ll keep wondering why traction feels so out of reach.
Our Growth Strategy isn’t something we write once and leave behind. It grows with us, just like our journey.
Important to remember:
Selling starts from day one, even before we write the first line of code for the MVP.
The Scientific Method
To keep making real progress, we’ll follow the Scientific Method. It keeps us grounded and helps us see whether we’re truly heading in the right direction.
| STAGE | DESCRIPTION |
|---|---|
| Formulate a Hypothesis | Come up with a clear, testable statement based on what we know so far (our past research/knowledge). |
| Design an Experiment | Plan a simple, focused way to test our hypothesis and see if it holds up. |
| Perform the Experiment | Run the experiment and collect data. |
| Analyse the Data | Take a close look at what we found and see if it supports the hypothesis. |
| Draw a Conclusion | Summarise and document what we’ve learned. Decide if the hypothesis was right. If it was, double down. If it wasn’t, pivot and adapt. |
Applying the Scientific Method to Getting Traction
Here are a few examples of hypotheses we’ll put to the test:
- Segment of the Market and Stakeholders
- Pain and Current Efforts
- Decision Criteria and Decision-Making Process
Here are a few examples of experiments we’ll run, to test our thinking:
| Experiment Type | Purpose |
|---|---|
| Stakeholder Interviews | Check if the Pain is real and a priority. Learn how they’re trying to solve it today, and how they make a decision to change the status quo. |
| Learning Loops | Gather SPEED data to sharpen our understanding of who we’re really building for. |
How To Know We Achieved PMF?
We are trying to hit the following metrics:
- Relatively easy growth (Lead Generation Cost or CAC decreased massively)
- High retention (90% of renewals are successful)
- ARR is between $500K to $3M (depending on our GTM motion)
Are You Ready To Get PMF?
Right then. Let’s crack on with our first brainstorming session.