Achieving Escape Velocity: Transforming Ideas into Mainstream Businesses

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Achieving Escape Velocity: Transforming Ideas into Mainstream Businesses

  1. 1. Achieving Escape Velocity Transforming Visionary Ideas into Mainstream Businesses © 2014 The Chasm Group, LLC
  2. 2. •  Speed  of  technology  advances   •  Device  and  pla5orm  prolifera8on   •  Evolving  consumer     •  More  big  data,  be>er  data  analy8cs   •  The  Internet  of  Things   •  Speed  to  success,  speed  to  failure   •  Systems  of  engagement  on  fire   The  New  Normal  –  Speed  and  Change   2 © 2014 The Chasm Group, LLC
  3. 3. WHAT’S  HOT   •  Consumer  hardware   –  Wearables   –  Car  tech   –  Home  Connec8vity/Automa8on   –  4K  TVs   •  Consumer  soLware   –  DraLing  established  pla5orms/categories   –  App  Stores:  MicrosoL,  Salesforce,  Apple…   WHAT’S  NOT     © 2014 The Chasm Group, LLC 3
  4. 4. What  Do  Speed  and  Change  Mean  To  You   EARLY  STAGE   •  How  do  you  quickly  create  a  new   category,  or  re-­‐invent  one?   •  How  do  you  challenge  incumbents?     THE     NEW   RULES   ESTABLISHED  MAINSTREAM   •  How  do  you  balance  current  and  future   businesses?   •  How  do  you  neutralize  compe88ve   upstarts?   •  How  do  you  make  the  right  acquisi8ons?     Move  fast  but  not  haphazardly   Employ  compasses  and  models   Focus  and  discipline   4 © 2014 The Chasm Group, LLC
  5. 5. “If  you  don’t  know  where  you’re   going,  you’ll  end  up  someplace   else”         5 © 2014 The Chasm Group, LLC
  6. 6.   Market  Development  Strategy  Checklist   Key sponsor   1.        Target  Consumer   2.  Compelling  Reason  to   Buy   Complete solution 3.  Whole  Product   4.  Partners  &  Allies   Manages sales & Fulfillment complexity Next growth segment Maps to all the above 7.  Compe88on   8.  Posi8oning  /   Messaging   9.  Next  Target     © 2014 The Chasm Group, LLC Fill in the gaps 5.  Sales  Strategy   6.  Pricing  Strategy   Legitimate alternatives Key motive Core differentiation
  7. 7. Product  –  Market  Fit:    Three  Core  Strategic  QuesNons   1   TARGET   MARKET   2   COMPELLING   REASON  TO   BUY   3   WHOLE   PRODUCT   SOLUTION   Big  Enough  To   Ma>er   Rooted  in   consumer  use   case   Aligned  against   a  defined   need/want   Small  Enough   to  Win   With  real   perceived   value     Fully  sa8sfying   the  compelling   reason  to  buy   Fit  With  Your   Crown  Jewels   7 © 2014 The Chasm Group, LLC
  8. 8. 8 © 2014 The Chasm Group, LLC
  9. 9. Nest  Labs  Product  -­‐  Market  Fit:       Three  Core  Strategic  QuesNons   1   2   3   © 2014 The Chasm Group, LLC TARGET   MARKET   COMPELLING   REASON  TO   BUY   WHOLE   PRODUCT   SOLUTION   ü  Consumers,  not  contractors   –  Design  and  coolness  ma>ers     ü  ü  ü      ü  ü  ü  ü  ü  Energy  Savings     Consistent  Home  Comfort   Self  learning   Easy  to  buy   Easy  to  use   Easy  to  install   Easy  to  upgrade  over  web   Beau8fully  designed     9
  10. 10.   Nest  Labs:     Market  Development  Strategy  Checklist   Energy-Conscious Consumers   1.        Target  Consumer   2.  Compelling  Reason  to   Buy   Easy to buy, install, use, upgrade 3.  Whole  Product   4.  Partners  &  Allies   Website, retail partnerships © 2014 The Chasm Group, LLC Parity with reference competitor 7.  Compe88on   8.  Posi8oning  /  Messaging   Smoke/ carbon Monoxide detectors None required 5.  Sales  Strategy   6.  Pricing  Strategy   Honeywell Prestige Easy energy savings, Easy home comfort 9.  Next  Target     Self learning
  11. 11. 11 © 2014 The Chasm Group, LLC
  12. 12. 12 © 2014 The Chasm Group, LLC
  13. 13. Product  –  Market  Fit:       Three  Core  Strategic  QuesNons   1   2   3   TARGET   MARKET   COMPELLING   REASON  TO   BUY   WHOLE   PRODUCT   SOLUTION   ü  Health/Fitness  Enthusiasts   ü  Dieters   ü  Coolness  factor       ü  Monitors  ac8vity  levels   o  Monitors  my  sleep…YAWN   u  Requires  new  habits   u  Requires  daily  input  (food/sleep)   u  Kludgy  smartphone  programming   u  Uncomfortable  to  wear     u  Data  >  Automated  ac8onable   insights       13 © 2014 The Chasm Group, LLC
  14. 14. 14 © 2014 The Chasm Group, LLC
  15. 15. “That’s  been  one  of  my  mantras  –   focus  and  simplicity.    You  have  to   work  hard  to  get  your  thinking   clean  to  make  it  simple.    But  it’s   worth  it  in  the  end  because  once   you  get  there,  you  can  move   mountains.””         15 © 2014 The Chasm Group, LLC
  16. 16.      The  Four  Gears  for  Web-­‐Based  Businesses   ACQUISITION ENLISTMENT Starter Motor MONETIZATION © 2014 The Chasm Group, LLC ENGAGEMENT 16
  17. 17. Four  Gears  to  Drive  Sustained  Growth   MONETIZATION ACQUISITION Starter Motor ENLISTMENT © 2014 The Chasm Group, LLC ENGAGEMENT 17
  18. 18. Growth  is  a  Process   18 © 2014 The Chasm Group, LLC
  19. 19. What Do You Think? Andrew Salzman asalzman@chasmgroup.com (415) 812-1925 19 © 2014 The Chasm Group, LLC

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