Traction is everything - 5 startup tips with Stefan Avivson
Sep 03, 2024Stefan Avivson ("Mr. Raw") has been having quite a wild ride. He's been founding companies over the last three decades. including 5 exits, millions raised, and also two crashes into bankruptcy. He now advises startup founders.
I had the pleasure of meeting him for a conversation where he shared his insights about gaining traction and learning from your customers. Here are his 5 tips:
- Talk to Customers—A Lot: Engage with as many customers as possible, and keep doing it. The more you learn from them, the better you can refine your product and offer something they truly need. Getting 100 potential customers on a call is a must.
- Qualify Quickly, Don’t Waste Time: Always qualify your leads—both customers and investors. Be direct in your approach to save everyone’s time by focusing on those who are genuinely interested. Make sure your potential customers and investors know why you reached out to them as soon as possible so they can opt-out if your offer isn't of interest, and spare your time and effort.
- Be Bold—Make Your Offer: Don’t hesitate to ask for the sale or investment. Ultimately, that is the only way you can get a truly honest response, whether it’s a "yes" or "no." Making the ask allows you to move forward.
- Ask 'Why' and Learn from Rejections: When you hear a "no," dig deeper and ask why. You might discover that the "no" you just heard can be easily replaced by a yes (for example - "now is not a good time, but let's talk next week"). In most cases, the "no" will remain, but you could learn something. Understanding the reasons behind rejections helps you improve and tailor your approach for better results next time.
- Embrace Rejections, Failures, and Pivots: You will fail a lot. You will get rejected, too. But those are the stepping stones, on which you could navigate your path to success. Each rejection and failure is an opportunity to learn, pivot, and get closer to achieving your goals.
* Listen to our conversation on the MC Starutp Podcast, and our YouTube channel