The Traction Ladder: It’s The Most Important Thing for Start-Ups
In order to get investment, make sales and eventually generate profits entrepreneurs must climb the traction ladder. The traction ladder must be climbed one rung at a time. It’s a hard climb that requires super human stamina and determination. But the crock of the gold at the top is worth it. That crock of gold is profits.
Every business has its own unique challenges so the traction ladder differs from business to business. Mailing list subscribers, number of active leads, key reference sites, initial sales, and ultimately profits are broad sections of the traction ladder. Very few entrepreneurs can jump from the ground to the top of the traction ladder. Most must haul their start-up to the top each rung at a time.
However, when constructing a strategic plan for your business a clear vision of your traction ladder is of critical importance. In fact start-up strategy can be summed up by the question “How are you going to climb the traction ladder?”. It’s worth 5 minutes of contemplative thought.
