Wednesday, 15 October 2014

Talking about traction running a workshop at MaGIC Startup Academy


YBhg Tan Sri Dr. Mohd Irwan Serigar Abdullah entertaining welcome address
(note: notice the 'm' from MaGIC looks like the logo of Gmail? ;)

Proud to be among the awesome speakers of MaGIC Academy in Kuala Lumpur, to talk about TRACTION.

Some of the main messages I tried to convey are:
- Write down your "business plan" (not the 150 pages long one, but one which shows that you know what you are talking about). If it's not written, it does not exist. Or as Jeff Bezos says, "There is no way to write a six-page, narratively structured memo and not have clear thinking."

- Know the metrics to follow along your journey, that will be the traction you can communicate. It will help you attract staff and investors. Remember, investors invest in lines, not in dots. Start not: decide on 5 KPIs which matter for your business.

- Make sure you're not wasting your time (we have a limited 30,000 days to live when we are born): do quick calculation of your Total Addressable Market to estimate the max impact of your project.


Additional resources:
- I strongly suggest MaGIC participants to go for Yongfook talk about growth hacking. I love going through his list of growth hacking strategies and adapting them to projects I'm looking at.

- Find investors for your venture on MAVA, the Map of Active VCs in Asia.


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