AI Startup Blueprint

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Module 5: Traction

Traction

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1.Two Things Need to Be Happening in Parallel

1: Getting More Customers who are willing to start paying you

2: At the same time you need to be working on your VC/Investment outreach

2.Payment Integration

Integrate Stripe or another payment system to make your product easily sellable.

3.Focus on Validation and Customers

Put a freeze on building additional product features.

Keep developers focused on low-volume maintenance as your MSP is sufficient for now.

Investors are primarily interested in seeing customers who are paying for your product.

4.Outreach Strategies

Implement multiple outlets to acquire customers:

Leverage existing customers to recommend your product to others.

Create a sales funnel with demo calls and payment processes.

Encourage validators to start paying for the product on a month-to-month basis.

Utilize cold email outreach and LinkedIn outreach strategies.

Consider outsourcing outreach efforts on platforms like Fiverr to obtain lists of potential customers and use AI tools like ChatGPT to craft emails.

Even if someone says "NO," ask for referrals to other potential customers.

5.Plan A and Plan B

Have multiple strategies in place to secure customers.

Adapt and iterate based on the outcomes of conversations and customer responses.

6.Securing a Comfortable Number of Customers

Aim to secure around 5 to 10 customers, ideally in the B2B market, before actively seeking investors.

The number of customers needed may vary based on your timeline and specific circumstances.

7.Start Doing Research on VCs

Identify venture capital firms that specialize in your industry or market niche.

Research their investment focus, preferred stage of startups, and typical investment size.

Look into their portfolio companies to see if there are any similarities or overlaps with your startup.

Understand the partners and team members within the VC firms and their areas of expertise.

Analyze their investment track record and success stories.

Consider their geographic preferences and whether they invest locally or globally.

Research any specific requirements or application processes for pitching to the VCs.

Gather insights on their investment thesis and the types of startups they typically fund.

8.Secret Sauce: Aligning with VCs

The purpose of acquiring customers is not just for revenue, but also to identify venture capitalists (VCs) that align with your product and vision.

Seek VCs who have an interest in your industry or market niche.

Action Items

Refine Customer Acquisition Strategy: Analyze the success of you customer acquisition efforts and refine you strategies accordingly. Identify the most effective channels, messaging, and tactics to attract and convert customers.

Create more efficient methods of customer acquisition based on the above. Optimize you sales funnels, conduct more cold email outreach, and leverage referrals to secure more paying customers.

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