GROWTH VERSUS TRACTON: WHAT YOU NEED TO KNOW!
According to Brian Balfour, startups go through three stages: Traction, Transition, and Growth. The startup’s goals, metrics, channels, focus, team structure etc. evolve and change as a business passes through these three phases. There’s a lot of talk across industries regarding “growth” vs. “traction” and the different tactics that support each. While the term “growth” refers to a positive rate of change, this could be short-term in nature. Traction, on the other hand, refers to sustained growth over time and presents a far greater challenge. Knowing where you are on this track helps you understand what you should be spending your time on. 1. Understanding Traction Almighty traction. Nothing trumps it. Nothing! Not strategy, not beautifully developed growth plans, not Nigerian Jollof rice. Nothing! Traction is king to all. So, what is it exactly?