Episode 64 – Riding the Technology Adoption Life Cycle Curve in MedTech with Geoffrey Moore, Author, Crossing the Chasm
Medical Device Success - Your Success is Our Mission!
This is a special episode. Our guest today is Geoffrey Moore, Author of Crossing The Chasm: Marketing and Selling Disruptive Products to Mainstream Customers which is on Inc. Magazines list of top 10 Marketing Books of All time. He has written several other books on marketing relative to disruptive technologies. Geoff is highly regarded throughout the high-tech world. Today, Geoff will take us on a tour of the Technology Adoption Life Cycle and then we dive into details of early market challenges and then the ultimate challenge of crossing the chasm into the mainstream market. We talk about disruptive technologies, early adopters, key opinion leaders, signs you are approaching the chasm, the pragmatists on the other side of the chasm, pragmatists in pain, the bowling alley, the tornado, mistakes to avoid and much much more. By the way, in our discussion the terms visionary and early adopter are interchangeable. Also, the terms pragmatists and early majority are also interchangeable. Everyone involved in leading a MedTech company and marketing and sales will learn a lot from this episode. You will hear me refer to several attendees to this event. Three countries are represented. The Netherlands, the Czech Republic and the United States. These people are all members of the MedTech Leaders community. I always set up interviews as live virtual events so members can attend. If you want to learn more about the community, go to medtechleaders.net. Now Go Win Your Week! Geoffrey Moore’s LinkedIn profile link Geoffrey Moore’s website link Great books by Geoff: Crossing the Chasm, Marketing and Selling Disruptive Products to Mainstream Customers. This third edition brings Moore’s classic work up to date with dozens of new examples of successes and failures, new strategies for marketing in the digital world, and Moore’s most current insights and findings. Amazon Link Zone to Win – Moore’s classic bestseller, CROSSING THE CHASM, has sold more than one million copies by addressing the challenges faced by start-up companies. Now ZONE TO WIN is set to guide established enterprises through the same journey. Amazon Link Escape Velocity – Addresses the central dilemma established firms face: how to continue to harvest past success while driving the organization, its people and its processes, toward future growth and opportunities. Amazon Link Inside the Tornado – A follow-on work to Crossing the Chasm that deals with the dynamics of post-chasm markets, in particular the market share battle during hyper-growth that results in the anointing the market leader or gorilla. Amazon Link Ted Newill’s LinkedIn Profile link More Medical Device Success podcasts link Medical Device Success website link MedTech Leaders Community link Link to Ted’s contact page
Geoffrey Moore on How We Can Be Ethical Without Religion
Geoffrey Moore is a best-selling author and internationally renowned consultant for high-tech business. He’s also a former academic in the humanities and has recently turned to reflecting on what evolution can teach us about being ethical in his book The Infinite Staircase: What the Universe Tells Us About Life, Ethics, and Mortality. Moore presents an intriguing and compelling case for how natural selection underwrites and informs our senses of kindness and fairness.Living Philosophy is brought to you by Philosophy2u.com.Host:Dr Todd MeiSponsors:Philosophy2u.comHillary Hutchinson, Career and Change Coach at Transitioning Your LifeMartin Bunzl, author of Thinking while WalkingHermeneutics in Real LifeGeoffrey Moore, author of The Infinite StaircaseLinks Related to this Episode:Geoff MooreStaircase DiagramThe Infinite Staircase (book)TranscendentalismTranscendental MeditationAmerican PragmatismBaruch SpinozaRichard Dawkins, The Selfish GeneThe Fairie QueenFirst and Second Laws of ThermodynamicsDarwin’s Theory of EvolutionThe Great Chain of BeingQualiaMusic: www.bensound.com
Crossing the chasm by Geoffrey Moore /book summary in hindi
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Ep. 9 - Crossing the Chasm as a Framework for Investments - with Geoffrey Moore, Bryan Stolle and Jennifer Trzepacz
Traction and Trapped Value
Crossing the Chasm is a critical framework that the Wildcat team has experienced as operators, executives and investors, using it throughout their careers. Geoffrey Moore, Author of the best-selling book Crossing the Chasm, and Partner at Wildcat Venture Partners, shares that this B2B market development model is the lowest risk, highest return play in venture. In this episode Geoffrey, Founding Partner Bryan Stolle, and COO & Partner Jennifer Trzepacz, known as JT, dive deeper into this strategic and operational framework. Learn more, and find the complete show notes, at www.wildcat.vc Resources: Follow Wildcat Venture Partners on LinkedIn Follow Geoffrey on LinkedIn Follow Bryan on LinkedIn Follow JT on LinkedIn Visit Wildcat’s website Subscribe to Traction and Trapped Value: On Apple Podcasts On Google Podcasts On Spotify Traction and Trapped Value is produced by Flywheel Associates
Ep. 8 - The Hierarchy of Powers as an Investment Model with Geoffrey Moore
Traction and Trapped Value
In early stage venture, determining those important signals that indicate investment potential and traction are critical. One way to do so is through this concept of power as Geoffrey Moore, Author of Crossing the Chasm, Speaker, Advisor and Venture Partner at Wildcat shares... “Power is an attempt to say, what are the leading indicators of success in business just as performance it’s a trailing indicator of success. And what you find in investing is, an investor buys a share of your future earnings, not your past earnings. And so therefore how can they expect you to perform in the future? So you're always looking to say, how powerful could this company become? Cause that's, what's going to increase its market valuation. Now that's true in public investing, but it's even more true in venture investing because the power is so nascent.” Power is actually a hierarchy and the prioritization of this structure is based on the impact each step has on a company’s future performance. In fact, this ordering comes from public markets and is adjusted to venture dynamics. As such, this hierarchy can be leveraged as an investment framework to determine where the trapped value lies and how to identify the traction behind it. Power Concepts - A Five-Step Hierarchy There are five steps to this power hierarchy: Company power, Category power, market power, offer power, execution power. Category Power - Growth born from category expansion. How much money is coming into your category? What’s the size of the opportunity? Company Power - Growth born from category share Within a given category who’s the leading company that provides that product or service? Market Power - Growth born from customer relevance Market share of a company within a target market segment defined in terms of an industry and a use case. Offer power - Growth born from unmatchable offers How well do your offers directly stack up against competitors? Execution power - Growth born from managing a portfolio of commitments How well can your team actually deliver such that you are meeting and beating plan? Category power is at the top of this hierarchy because venture investing is focused on nascent categories that are expected to blossom. In fact, the category may not exist quite yet but the technology does. So when doing an investment, you inevitably start with the question “what categories are we in and are these categories getting traction?” Market power is different from company power in that markets are defined by a set of customers and categories are defined by a set of competitors. An early stage company delivers market power by winning devoted customers who advocate on its behalf, thereby speeding up sales cycles and creating a local market that can attract a local ecosystem. It’s growth from customer relevance because the offers address segment-specific concerns with domain expertise. And the end result is company power in a niche that is both persistent in its own right and a potential stepping stone to greater things to come. Offer power is defined as the feature/function/performance status in comparison to competitors. In established markets Geoff tells us that product managers are always looking to have the best set of these points of differentiation in their competitive positioning charts. But in venture, it’s more asymmetrical. Early stage companies need need to find at least one dimension where there is a 10X advantage, something that will warrant customers and ecosystems going through the pain and strife of disruption to adopt the offering. The last step in this 5 step hierarchy is execution power. It’s about getting to the next milestone in a timely fashion because growth ultimately stems from managing those portfolio of commitments. To create that necessary performance traction, the team must redirect its execution power from building and serving everyone in the early market to being very narrowly focused on a very specific audience segment, industry and use case to cross the chasm. It’s being able to transition from the interest of those early adopters of a product to the mainstream early majority. The Power of Digital Transformation One category the Wildcat team is laser focused on in particular is Digital Transformation. Bryan Stolle and Grahme Taylor shared insights on where they see the space going in episode six and seven. This category has significant power based on where is capital moving into and where new technology displacing capital that used to be spent in an old way. This is actually a meta category - a horizontal and vertical. It's happening in every single industry across the globe as the world now moves towards an experience where billions of people on the planet have the power of a mainframe computer in their pocket. This gives businesses the ability to communicate with them 24x7. So the post-pandemic operating model for any industry and company needs to be a digital first model. Therefore an enormous amount of money has to go into that which leads to significant opportunities for incumbents as well as the next generation of venture backed startups. Crossing the Chasm and Its Link to the Power of Company’s Traction This hierarchy of powers: Category, company, market, offer and execution offers a framework for venture investors to truly understand those signals that can predict performance. This investment framework is linked to Geoffrey’s B2B market development model of transitioning from the interest of those early adopters of a product to the mainstream early majority, as outlined in his book Crossing the Chasm. Crossing the chasm means creating the opportunity for hyper-growth and market success, and by doing so, a venture company ultimately delivers market power in a market that is big enough to matter, small enough to lead and a good fit with their crown jewels. Where the Trapped Value Lies Through the Lens of this Investment Model What should an investor consider when evaluating companies through the lens of this investment model and determining where the trapped value lies? There are several ‘power’ signals which roll together in concert because growth is a function of power and the more power you have, the more you're going to grow. Geoff indicates that the power of an early stage company cannot truly be assessed on the traditional performance metrics like the return on investment.. Prior to being at scale, what's important to assess is how that company’s revenue ties to them gaining power. “You still measure revenue because revenue is how you're competing in the world. It’s how we know whether you win or you lose. So it's an important signal. What we're really trying to signal is not how much profit did you make because often you're still losing money. People wonder, how is it possible that Uber becomes so valuable and loses money? And the answer is because the world believes that by losing money, they're gaining even more power and therefore they're even more valuable.” Geoff also highlights that there are key measures that signal power. One is when a company lands at least one marquee client. Another is when they show dominance in their target segment. That momentum turns into partners who are looking to work with the company and build an ecosystem around them. Ultimately the company becomes the word of mouth choice for the segment. Collectively it’s all these signals that become valuable markers that assess potential and investment momentum. Resources: Follow Wildcat Venture Partners on LinkedIn Follow Geoffrey on LinkedIn Visit Wildcat’s website Subscribe to Traction and Trapped Value: On Apple Podcasts On Google Podcasts On Spotify Traction and Trapped Value is produced by Flywheel Associates
Imagine o Tarzan na selva, se jogando de cipó em cipó com muita coragem e velocidade. O vento batendo no seu rosto, uma sincronia total quando ele solta um cipó e agarra o outro. No empreendedorismo algumas empresas conseguem, assim como o Tarzan, ganhar uma velocidade de momento e dominar diversos mercados um após o outro. Sendo que cada um desses mercados possuem características demográficas e emocionais dos seus consumidores, completamente diferentes. Como se fossem cipós em árvores diferentes. Toda a inovação disruptiva precisa ser levada de cipó em cipó, mas existe um deles, entre os early adopter e os pragmáticos, onde o salto deve ser maior. E se o Tarzan perder o impulso ele fica parado e pendurado em seu cipó que não sai do lugar, enquanto que os animais da selva aguardam pacientemente a sua queda no abismo.Entenda o que isso tem a ver com inovação nesse resumo do livro “Atravessando o Abismo”, do autor Geoffrey Moore.📙 Compre o livro na Amazon: https://amzn.to/3qGiiHB👉 Quer aprofundar seu conhecimento sobre esse livro? Faça parte do nosso CLUBE DO LIVRO e tenha acesso ao conteúdo extra que preparamos sobre essa obra. Além disso, você poderá participar de um debate ao vivo sobre esse livro junto com a nossa equipe e com outros leitores de todo o Brasil.Acesse: https://www.resumocast.com.br/apoiaseEntre para o Clube do Livro: https://www.resumocast.com.br/apoiase
037: Crossing the Chasm: How to Effectively Drive Innovation with Geoffrey Moore
Enterprise Product Leadership
My guest today is Geoffrey Moore; a speaker, advisor, and best-selling author of some of the most influential business books of the past decade — including the world-famous book, Crossing the Chasm: Marketing and Selling Disruptive Products to Mainstream Customers. It is no exaggeration to say that Geoffrey’s books have molded my product career throughout the years. From Crossing the Chasm to Inside the Tornado, Dealing with Darwin to Zone to Win — his deep insights into how the B2B market works have been a critical component of how I approach product strategy and innovation. This is just one of the reasons why I’m so excited to have Geoffrey on the show today. In this episode, we discuss how an enterprise’s structure needs to adapt to drive innovation, how leaders should incorporate technology trends (such as AI, IoT, and 5G) into their product innovation roadmap, as well as the difficult topic of why so many B2B products die during the pilot stage. This is a very insightful episode. I cannot wait for you all to tune in and learn just as much as I did from this conversation with Geoffrey Moore! Episode Details: Crossing the Chasm: How to Effectively Drive Innovation with Geoffrey Moore: “Crossing the chasm is the first move for taking your innovation away from just a technology focus to a customer focus.” — Geoffrey Moore About Geoffrey Moore: Geoffrey Moore is an author, speaker, and advisor who splits his consulting time between start-up companies in the Wildcat Venture Partners portfolios and established high-tech enterprises, most recently including Salesforce, Microsoft, Autodesk, F5Networks, Gainsight, Google, and Splunk. Moore’s life’s work has focused on the market dynamics surrounding disruptive innovations. His first book, Crossing the Chasm, focuses on the challenges start-up companies face transitioning from early adopting to mainstream customers. It has sold more than a million copies, and its third edition has been revised such that the majority of its examples and case studies reference companies that have come to prominence from the past decade. Moore’s most recent work, Zone to Win, addresses the challenge large enterprises face when embracing disruptive innovations, even when it is in their best interests to do so. It’s time to stop explaining why they don’t and start explaining how they can. This has been the basis of much of his recent consulting. Topics We Discuss in this Episode: About Geoffrey’s career background and the work he is currently doing today The four organizational zones that companies need to have in order to drive innovation (as outlined in his new book, Zone to Win) Why there is a massive need for organizations to innovate in an accelerated and repeatable way (and the ways that sometimes prevent them from doing so) How Geoffrey has helped companies get leadership to understand that there needs to be an investment in all four of these zones in order to successfully innovate The downsides of being reactive instead of proactive Key lessons in innovation The challenges you’ll face in the process of innovation and how to persevere through them How leaders should incorporate technology trends (such as AI, IoT, and 5G) into their product innovation roadmap Why Crossing the Chasm is the first step in taking innovation from a technology-focus to a customer-focus (and why this is KEY to propelling your business forward) What a “whole product” means and why it is important How to graduate past the early market The difference between horizontal products and vertical products Why you should start with the application dynamic before transitioning to the platform dynamic The key to a successful partnership The difference between a product vs. a solution Where a small company has an advantage over a big company Why so many B2B products die during the pilot stage and Geoffrey’s advice to product leaders Product Leader Tip of the Week: How to approach innovation in this era of high uncertainty: Don’t try to solve it all with one tool. Start at the beginning with a set of technology-oriented tools that are designed to explore the technology and get familiar with the properties. Simply try and figure out if this new technology affects your customer’s industry and if it is really right for your company or not. Once you cross the chasm, you want to shift the framework from product to solution. As a product leader, you really need to be thinking about where you are as a company and really consider which framework you should be using. To Learn More About Geoffrey Moore: GeoffreyAMoore.com Crossing the Chasm: Marketing and Selling Disruptive Products to Mainstream Customers, by Geoffrey A. Moore Zone to Win: Organizing to Compete in an Age of Disruption, by Geoffrey A. Moore Dealing with Darwin: How Great Companies Innovate at Every Phase of Their Evolution, by Geoffrey A. Moore Inside the Tornado: Strategies for Developing, Leveraging, and Surviving Hypergrowth Markets, by Geoffrey A. Moore Related Resources: DanielElizalde.com/Template — Download Daniel’s free IoT Product Strategy Template here! Want to Learn More? Sign up for my newsletter at DanielElizalde.com/Join for weekly advice and best practices directly to your inbox! Visit DanielElizalde.com/Podcast for additional information, show notes, and episodes. Subscribe on Apple Podcasts so you don’t miss out on any of my conversations with product and thought leaders!
Thought Sparks with Rita McGrath and Geoffrey Moore.
What an absolute pleasure to spend an hour with my good friend and innovation thought leader Geoffrey Moore. In this #FridayFiresideChat, we discuss the arc of his breakthrough work. He's influenced generations of innovators both in the world of tech startups and in large organizations trying to become more agile and innovative themselves. His most recent book, "Zone to Win" is designed to help leaders address the paralyzing resource allocation challenges they face when they have to pull resources out of a successful operating business to fund a new growth business which might not show results for two or three years. We didn't just talk about the past, though. We speculated on what kind of path companies might be taking going forward, including the very interesting idea that we could be looking at a "Y" shaped recovery, where some sectors (food, healthcare, infrastructure) pick up very rapidly while others (travel, hospitality, tourism) go along an entirely different path. Knowing your customers' trajectory could shape the most appropriate strategy for that going forward. Have a listen!
A Conversation with Dean Leffingwell and Geoffrey Moore
SAFe Business Agility Podcast
In 1995, author and advisor Geoffrey Moore released Inside the Tornado, the second book in his popular three-part marketing series that offers strategies to get products into the mainstream market. Twenty-five years later, is the guidance in the book still relevant? In this episode, Dean Leffingwell takes over the mic to find out from the author himself—and to ask some other burning questions.
Geoffrey Moore Shares His Advice From Crossing the Chasm to Zone to Win
The Change Alchemist
Geoffrey Moore is an author, speaker, and advisor to established high-tech enterprises, including Salesforce, Microsoft, Autodesk, F5Networks, Gainsight, Google, and Splunk. He is a partner at Wildcat Venture Partners. In this podcast interview, I ask Geoffrey for his insights on how startups and large companies can benefit from his books including "Crossing the Chasm" and "Zone to Win".Topics covered in this podcast: - Disruptive and sustaining innovation - Crossing the chasm- Innovation in large companies - Technology adoption lifecycleMoore’s life’s work has focused on the market dynamics surrounding disruptive innovations. His first book, Crossing the Chasm, focuses on the challenges start-up companies face transitioning from early adopting to mainstream customers. It has sold more than a million copies, and its third edition has been revised such that the majority of its examples and case studies reference companies come to prominence from the past decade. Moore’s most recent work, Zone to Win, addresses the challenge large enterprises face when embracing disruptive innovations, even when it is in their best interests to do so.--- Support this podcast: https://anchor.fm/shobhana-viswanathan/support