In the past weeks I’ve written a number of times about traction. And today I’ve published a long-form blog that brings it all together.
Getting traction is challenging in various stages of your business. Keeping it and making it predictable is even more challenging.
It’s not only essential that traction starts (which is hard enough). It’s even more important that it grows and never stops doing so. Unfortunately, the latter part is where most SaaS companies suffer.
So how to design for predictable traction? Put simply; it’s about putting your efforts into three buckets and ten steps:
1 – Traction Foundation
- Step 1: The segmentation cocktail
- Step 2: Take position
- Step 3: A Remarkable value proposition
2 – Traction Momentum
- Step 4: Surprise and hit the right nerve
- Step 5: Kill silos – shift from speed to velocity
- Step 6: Stop selling – start making it irresistible
3 – Traction Resilience
- Step 7: Set clear direction – a strong vision
- Step 8: Be obsessed with what’s changing and challenging
- Step 9: Ensure resourcefulness
- Step 10: Eliminate bias – get out of the bubble
The power is in the mix. SaaS businesses that design traction across these three dimensions ultimately grow strength around multiple metrics:
- Top of the funnel: More high-quality leads
- Bottom of the funnel: increased velocity of deals and win rates
- The customer journey: accelerated product adoption and high customer retention (even in a downturn)
- Top-line: solid top-line growth (even market slows down)
- Bottom line: Gross margin that’s easier to maintain at high levels
- Cashflow & Runway: Start funding from a position of strength
It’s a choice. Good luck. Here’s the link to the long-form blog
Question for you to reflect upon
Which of the 10 steps above would make the biggest impact on your SaaS business if you’d address it with focus? What would be the 1st step?
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