As you may know, Bend has a brain trust of experienced entrepreneurs and investors, who are often more than willing to share their knowledge with startup founders. And a cool event slated for next Tuesday (8/16) offers a prime example.
Join Seven Peaks Ventures and Bruce Cleveland, a relatively new Bendite and founding partner of Menlo Park-based Wildcat Ventures, for a discussion on Traversing the Traction Gap — that is the span between a startup’s Initial Product Release (IPR) to Minimum Viable Traction (MVT). There’s only about two dozen spots left, so sign up soon.
For early stage companies, successfully navigating the traction gap can lead to better outcomes for founders and investors. From Wildcat Ventures:
In our decades of venture experience, we have seen thousands of successful startups go from an idea to product (the go-to-product phase), from product to traction (the go-to-market phase), and from traction to scale (the go-to-scale phase).
Additionally, we have seen ample capital available for companies in the early, go-to-product phase and the later, go-to-scale phase, yet time and time again, too many companies falter in the middle, go-to-market phase, exposing themselves to lower valuations, significant financing risks, and suboptimal outcomes.
So Bruce’s firm developed a framework for startups that outlines how get to that MVT, which can be “defined as a point in a company’s maturity—whether it be a certain level of revenue growth, engagement, downloads, usage or the like—that demonstrates market validation and signals positive growth trajectory.”
Bruce plans to dig into what all goes into Traversing the Traction Gap on the 16th. Wildcat focuses its investments on pre-traction companies, applying this framework to help their startups deftly cross the traction gap and take off. Bruce and his partners have experience in working with Marketo, Seibel, Oracle, Ticketfly and more companies when they were still in early days.
The firm also has a long-term relationship with Geoffrey Moore, author of Crossing the Chasm, which many founders have on their bookshelves, and they tap into Moore’s expertise as well.
So: Traction gaps. Chasms. As a startup founder, there’s a lot of things you can fall into. But you can also prep your company to soar over these gaps like you’re an American Ninja Warrior. You’re all, “Salmon ladders? I do ’em in your sleep. Jumping spiders? I put small children on your back to make it harder.” Your startup can be like that.
Are you pumped? You should be. Here’s the details: