Traction

“I've already told you why I think people are more important than everything for one, and I think that some of the biggest mistakes I've made as an investor is when I've ignored traction because I've had reservations about the market. Traction is so hard to man…”

“There's probably three books that I keep next to me whenever I'm working because I think of them as the best reference books for entrepreneurship. One is 15 Commitments of Conscious Leadership. One is Traction by Gino Wickman, which talks about the entrepreneu…”

“Founder is first, because if I know who they are and I know what they've done and I invested in quite a bit of the trade shift alumni, right? That's the first, but then today I would say market, and I probably flipped it before and said traction and then marke…”

“Realistically, products sell based on revenue, traction, and growth. And until you have that, you kind of have nothing.”

“Tractions, the community for founders, et It's got about a 110,000 subscribers.”

“Audience is different than a community. Insta influencers, they're all audiences. People have newsletters, they're audiences. That's great. The community is where members or people the audience interacts with one another without the sort of influence, key infl…”

“There are millions of copies of Traction out there, which is super cool, and there are, like I said, there are thousands of coaches, and there literally were, up until recently, about a thousand coaches just selling EOS, and so we're very close to those folks.”

“The only way really to do that is by combining software and hardware and just basically providing the best in class IOT that we can.”

“So they monitor basically all the machinery that produces the airplane. So if you think about, there's a bunch of motors, engines, compressors, pumps turbines, generators all basically rotational machine. So I've done computer engineering, not mechanical engin…”

“Well, our average MRR is basically three K per month. So and those customers, they have around 60 sensors as an average.”

“So the hardware nowadays, it costs a hundred dollars per unit and actually is a, it's a very good payback because we can, we're able to provide it as 45 dollars per month per century. So in terms of hardware payback, it's like two, 2.5 months, sometimes, somet…”

“We have a hundred companies.”

“Yeah, we're like around 3000 sensors that it's already going on in the market.”

“So we're growing at an, at a pace of 30% each month.”

“So we just hit like a hundred, a 100,000 dollars.”

“A year ago, we were at like a 10,000 dollars per month.”

“So I would say like 70% is new acquisitions and 30% is actual customers that are like asking for more.”

“We've raised 3.7 million bucks and in seed round that was a Y Cominator together with Soma Capital and other US funds.”

“Now we're just like thinking about series a, we still have runway to go almost like 12 month runway still. But probably we'll be raising something in between 10 or 20.”

“Our valuation was a bit lower. It was from basically the range, like in between 15 and twenty million dollars post-mining.”

“Like we still have in my partner, we still have more than half of the company altogether.”

“Our churn today is like 1.5% month maximum”

“Over the course of this year, we've done the dollar-based net expansion rate was basically like, 118%.”

“Sales conversion rate, so from a qualified lead, and we have about, like, a hundred qualified leads a month to an actual sale, it's basically, like, 27%, some months, like, 25%, the conversion rate.”

“We have, like, 300,000 In Brazil, summing up all Latin America, we have like 600,000 companies to achieve.”

“Engineers is basically like, summing up all the companies, it's basically like 40 people are engineers and the 20 other we're talking about sales and marketing.”

“The opposite of distraction. If you look at the origin of the word, the opposite of distraction is traction. That both words come from the same Latin root, trahare, which means to pull, and both words also end in the same six letters, A-C-T-I-O-N, that spells …”

“I learned very quickly that traction isn't what gets deals done. What gets deals done is an amazing story with a huge vision, with a huge market that you're pursuing, and a very unique insight about how you're going to achieve it.”

“Out of the three things, market, team and traction, market is something that you just can't fight with at all, right? I think teams you can still work with, you can fix them, you can hire more people you can chip and chop and things like that. Though it's hard…”

“When success happens, it's gonna punch you in the face. And you're not going to be able to confuse it for anything else. If you're not getting punched in the space with traction, you're not succeeding, and you don't need all those people.”