Startup Funding Espresso Technology Adoption Lifecycle
Technology Adoption Lifecycle Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Technology adoption lifecycle in the startup world shows how new technologies and products are adopted first by lead users and technologists.\xa0 Following this group are early and late-stage majority users. The laggards are the last group to accept the new technology.\xa0 This concept comes from Geoffrey Moore in his book entitled, \u201cCrossing the Chasm\u201d. The technology adoption lifecycle guides the startup on how to build and market products throughout the cycle. In the early days, the startup will sell to the technologists who need the functionality of the product but don\u2019t care about the ease of use or the price. Once the product "crosses the chasm" and is now accepted by the majority of users, the game changes. The early majority will pay a higher price but it must be easier to use. The late majority won\u2019t pay a higher price and it must be even easier to use than before. The volume of users will rise greatly giving the term \u201cs-curve\u201d to the shape of the growth. The S-curve shows the market taking off and the number of users increasing dramatically. A startup must be able to grow and scale their systems to take advantage of this growth. Finally, the laggards are the last to adopt the product which must be low-cost and very easy to use.\xa0 In pursuing a market consider where it is on the technology adoption lifecycle curve and adjust your product and pricing accordingly. \xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.Let\u2019s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .