I'm having trouble understanding how one would demonstrate traction at the idea stage.
Would it be a combination of 1) demonstrating past successes gaining traction and 2) having a catchy prototype? Or are there other things?
Would it be a combination of 1) demonstrating past successes gaining traction and 2) having a catchy prototype? Or are there other things?
Keep in mind that if the idea is novel and something people want, you'll get most of them converted no matter what if you initially promised that novel thing during the signup.
As somebody pointed out above, a "soon to launch" Web site, a large-scale survey with potential customers, a successful Kickstarter campaign, etc. provide some validation before traction.
If you have a track record of building products with traction, definitely discuss that as well (falls into the 'why you're the right team to execute').