Most New Zealanders have at least some familiarity with rural life. There’s something very kiwi about driving along a muddy road, or through a muddy field. You feel your tyres spinning, you wonder if you are going to get stuck …. until there it is… you sense your wheels get a little grip. Traction! It's got to be one of the best feelings out there.
Many New Zealand small and medium businesses struggle with traction. Sometimes they are busy, and sometimes not. Traction is about gaining and keeping momentum.
The concept of ‘Traction Channels’ applied to businesses was born, as many ideas are, out of the software startup world in the U.S.A. with the publication of the book ‘Traction Channels’ by Gabriel Weinberg and Justin Mares in 2015. The ideas in this book are now spreading to businesses of all types and sizes throughout the world. This blog takes these concepts and re-works the ideas to fit with the NZ business environment in 2024
Like any tool, understanding traction channels alone is not going to give you business success. Before we dive into the channels themselves here are a couple of quick keys to using traction channels effectively
Yes, that is not a mis-print. The book recommends that a company in growth mode put half of its time into developing new traction channels and maximising existing traction channels. This is another way of framing the classic “work on your business not in your business” advice. To even get close to 50% would require a radical re-prioritising for most businesses.
Depending on how you classify things, there are at least 20 different traction channels. Trying to develop all of these all at once will massively split your focus and you will end up not doing justice to any. Start with a few traction channels that you feel are a good fit for your business and that you can realistically execute. If these channels don’t return results for you in time, ask yourself if you need to persevere or move to new channels. Experiment and learn
Some of these channels may not be ones you have considered before. For example you may not think you have anything to offer in the area of thought leadership. You may never have written a blog in your life. However you may surprise yourself - most business owners have a deep knowledge of the field their business operates in. Why not share this knowledge, and get some attention for your business. There are many tools and services out there that will help you create content - for example AI and outsourcing.
Have a think and chat to other business owners about the traction channels they are using, and the results they are getting.
So what are you waiting for? Start getting some traction!!
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