Traversing the Traction Gap
by Bruce Cleveland & Wildcat Venture Partners
Description
Traction. Startups Need It. Learn How To Get It.
Vision, groundbreaking ideas, total commitment, and boundless enthusiasm characterize most startups, but they require capital to go from promising product to scalable business. More than 80 percent of all early-stage startups fail. Most of them can build a product, but the vast majority stumble when it comes time to take those products to market due to poor “market engineering” skills.
Traversing the Traction Gap exposes the reasons behind that scary failure rate and provides a prescriptive how-to guide, focused specifically on market engineering techniques, so startups can succeed.
The go-to-market hurdle is insurmountable to many startups. Just when they most need to establish a foothold in the market, they run short on time and money. This is the Traction Gap, that period of time between introducing a new product into the marketplace and being able to scale it during a rapidly closing window of opportunity. Traversing the Traction Gap is a practical guidebook for navigating the tumultuous early life of a startup. Based on real-life examples, the advice from Cleveland and the members of the Wildcat Venture Partners team provides a roadmap and metrics for succeeding where others have failed.
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I started to fall in love with this book as soon as I read the intro. The first sentence that just captivated my undivided attention was: "We will always choose messy successes over elegant failures"
As a work at home mom, I can relate with messy successes, and although I am certain that the author and I have different views over these "messes", I still like the idea that this sentence focuses on.
Traversing the Traction Gap features segments on terms, concepts, and strategies for what the author calls "Traction Gap Framework".
It continues to present insights on product creation, marketing, sales, support, and financing.
The book also contains business anecdotes from real business and successful entrepreneurs.
The author mentions that all this information is presented to use the readers with the hope to provide a reference manual to a journey across the Traction Gap.
The content of this book is very useful for aspiring or new entrepreneurs especially. But even experienced entrepreneurs can find ideas worth reading and consider.
The case studies included in this book are priceless in my opinion, as they provide information beyond theory.
Transversing The Traction Gap provides a framework for launching a startup, but these concepts might also be used to launching products.
The author mentions that all this information is presented to use the readers with the hope to provide a reference manual to a journey across the Traction Gap.
The content of this book is very useful for aspiring or new entrepreneurs especially. But even experienced entrepreneurs can find ideas worth reading and consider.
The case studies included in this book are priceless in my opinion, as they provide information beyond theory.
Transversing The Traction Gap provides a framework for launching a startup, but these concepts might also be used to launching products.
This book touches on more than HOW to succeed, but also WHY startups fail. It reminds me of the e-myth, as this book also touches on why entrepreneurs tend to fail on their first year to 5 years of being in business.
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