INCUBATOR ACADEMY ROTTERDAM WORKSHOP BULLSEYE Activity
Time
Journey
Objective
Find your traction channel.
Goal
One traction channels that moves the needle.
Instructions
• • •
Outer Ring
as long as it • takes • • • • •
Middle Ring
as long as it • takes • • •
Grab the business model prototype you have been working on.
Grab some flip-over sheets.
Grab some small red and green stickers. Design for each of the 19 different channels from the book traction, a channel strategy, that has the chance of moving the needle.
Research strategies that have worked in your industry. How did similar companies acquire customers? How did unsuccessful companies waste their euros?
Every team member does this exercise individually first.
The team members pitch their findings.
Team members can ask questions at the end of the pitch.
Than all team members get together to compare and discuss their results, and choose a strategies for each of the 19 channels. Rank the channels strategies. Every team member gets 19 red and 19 green stickers. He/she awards up to three stickers to the channels of his/her choice.
(If a channel (strategy) win that is widely used in the industry, then you are probably on the wrong track. Start over again.)
Choose a few exiting and promising channels from the outer ring.
For each channel you construct a cheap traction test. The tests should be designed to roughly answer the following three questions:
• How much will it cost to acquire customers through this channel?
• How many customers are available through this channel?
• Are the customers that you are getting through this channel the kind of customers you want right know (evangelists for example).
Inner Ring
as long as it • takes •
Choose the traction channel that did best in your middle ring testing and start directing all your traction efforts and resources towards this channel.
Keep continually testing your chosen channel (strategy) in an effort to increase its effectiveness. (A/B testing is a common approach.)
Critical Path
as long as it • takes
Lay out your milestones. Determine your traction goals and define your critical path against that goal, working backward and enumerating the absolutely necessary milestones you need to achieve to get there. Quantify traction goals and put them on a calendar so you can properly monitor your progress.
Stay on the critical path. Asses every activity you do against your Critical Path. Quantify traction subgoals and put them on a calendar so you can properly monitor your progress.
When the needle stops moving, start testing a new traction channel(strategy) until you find the suitable one for the job.
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Make room in your agenda for at least 3 tests per week.
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