YouSaid · the spoken record

Geoffrey Moore

lines on the record: 99
first: 2024-01-25
most recent: 2024-01-25
sittings or episodes: 1
sources: podcast

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“And the way you start the conversation is always the same. You know, we're here because we've been working with some people in your industry and we understand there's this really serious problem around document management or around Wi-Fi access or whatever it is. And we believe that your company might have, is that true? And what's interesting about it is you've got two responses, either are you kidding me? Okay, we have that or often they'll say, well, not exactly. And you go, oh, but then before you can say anything else to say, what a real problem is, so people will talk about their, they want therapy. They'll talk about their problems. And so if you're willing to, but you've got as an entrepreneur, you got to realize the gold at this point is problem domain knowledge. That's the thing you really want to collect.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, because that's what's going to, so therefore, the key to the bowling alley that's different from the tornado. And it's also different from the early market. In the early market, it's about you. You tell the story about you and the visionary wants to hear about you. In the tornado, it's also about you because we now have budget to buy this stuff and you're a candidate. In the bowling alley, it's never about you. And that is so hard for a series of entrepreneurs because they want to give a demo. They want to tell the story. They want to share their vision. The answer is we don't care. We don't want to hear your story. We hate demos. And I don't know who you are and I don't care. I'm in trouble. You need to talk. We need to talk about me. We don't want to talk about you. And so we have this saying in the crossing the chasm sales playbook, leave it, first of all, leave the lap, shut the goddamn laptop. Just don't open it and start with.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Compelling reason to buy. Anything if you're in an illegal problem, you have a compelling risk to buy. So, I mean, there's always these situations where you say, okay, that's on a personal basis. On a company-wide basis, it may be things like, well, what am I supposed to do with my office space? Can I get my company to come back to the office or do I have to dump the space? What am I supposed to do? And by the way, I know I'm going to have some kind of space, but do I want to design it the way we use it? I'm getting into some space. By the way, I got a great deal because if it was a fire sale, right? Cool space. What do I put in it? Is it supposed to have offices? They have doors. Do they not have doors? So in other words, there's a bunch of stuff where you get people going, okay, how can we help? How can we help? I need help. And I've gone to my standard solutions and like, no, I don't believe that. So I need help.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“How about ransomware? I mean, all of a sudden the cybersecurity thing is like, holy smoke, because it used to be, well, they wouldn't attack my company. Or if they did, I mean, I have no assets. Yeah, well, actually, because it used to be what they did is they would only attack companies that had data that they could resell in the dark web. Then God bless cryptocurrency. People are saying, is it cross the chasm yet? Well, their first use case is criminals. It's not a very good use case, I'm sorry to say. But the point is now ransomware with cryptocurrency can be a monetization. So that means everybody is vulnerable. So that would be, that's one kind of compelling reason to buy. But if you look around like kids who are struggling with school, the parent has a compelling resource. Anything with health.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“So if you're a pragmatist, the first thing is, if it ain't broke, don't fix it. Makes you totally different than a visionary. Visionary is like, yeah, no, come on, break it, come on. Let's move on. They ain't broke. Don't fix it. If it is broke, who has fixed it? Is there fix in production? Does the fix work? I want that. In other words, it's basically to April's point, it is a risk reduction buying strategy. And by the way, you go as slowly as you can normally, but when you're under duress, you have to go faster. So the compelling reason Dubai is putting you under duress.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“And our answer sucks, he wouldn't say it that way, but that's the truth. And therefore, we're kind of at the, I mean, I'm getting the message, first of all, my boss's boss's boss knows my name. That's a very bad thing. Secondly, I'm getting the message, you're either going to fix this problem, Jeffrey, or we're going to find somebody who can. And so that's what gives them the energy to go against the inertial momentum of the decision-making process in their company.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“And by the way, normally those people are designed to keep you out. And that decision process will take forever and you'll be in the welfare lines before they make their choice. So that's why it's so important to have what we call a compelling reason to buy. You need to have a group of people in a room where the leader, the guy who's going to actually sponsor, make this decision is saying, look, I already gave this problem to everybody in the room.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“But until the product has got enough stability and can be productized, I really can't afford to cross the chasm. So once you have a product that works, then you've got to say, okay, now I got to find a market where it can be the dominant solution. That's the time to cross the chasm.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“The next. So with the visionary, you have to have the magic ingredient working. You don't have the whole product. In fact, your product may be buggy, but it does something. Andy Garoff used to call it the 10x effect. You need to do something that is an order of magnitude better than anything because that's why the visionary is talking to you. They're going, oh my gosh, you have this fusion fusion, really. Yeah, we got fusion energy. So that's number one. Then why would you, what would still cause you to not cross the chasm yet if there's not enough product there, pragmatists cannot put up with a product that doesn't work. So you may need to do some additional work to say, look, we get some more customers. I'm not, you know, I'm still living hand to mouth. It's mostly project work.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“And by the way, you can be a visionary with some things, a pragmatist with other things and a conservative with others. So the way to really think about them is what is my persona in relation to this decision?”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Exactly. And there's six of them. And the key idea behind that is, yeah, none of us, by the way, I don't think any of these people are a guru, and they don't think I'm a guru. We're using the antelope strategy. It's a herd strategy. But at some point, and by the way, we do this all the time. Every one of them, like Airbnb, I want to get an Airbnb in Portland. Have you ever stayed? Is this a good hotel? Is this a good restaurant? Is this a good dentist? Is this a good lawyer? That's how we do it.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Like me, and they love it. I think that by the way, one of the reasons that pragmatists have a certain, it's not, it's not contempt for visionaries, but it's definitely wariness. It's because often they have to clean up the messes that these guys leave behind. Because when you're a visionary, you leave a lot of messes in your wake. And then the fragment test has to come in and clean it up. So they're going, oh, that's another mark against these people.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“First of all, he thinks I'm dumb. He thinks he's smarter than I am. Second of all, he does stuff that I would never do, and he makes decisions in a way that I would never make them. So that's not, no. And so I am interested in talking to my peers. But the problem now is which of the peers is going to go first. And it was kind of like the junior high dance problem. How do you get the party started? So that was the chasm. That was what created the chasm. The pragmatists need references and they will not accept a visionary as a reference and they don't have any peers that have tried it yet. So that was what was happening.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“And this was funny because I was working at Bridges McKenna, which was this marketing agency that was sort of the premier high-tech marketing agency in the 80s. And we had all these really successful launches. And then covers of front page articles on Fortune magazine and Wall Street Journal. And then a couple of years later, it's like, well, what happened to these guys? And so that's where the chasm was like, that's what the investigation caused the investigation. What we learned was visionaries make their own buying decisions and they do not consult their peers. In fact, if their peers are doing it, they're probably not going to do it because they want to be different. So basically these companies were having success capturing the imagination of the visionary. And they thought, well, I'll use the visionary as a reference to get the pragmatist. The pragmatist looks at the visionary and goes, that's not my God.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“That's kind of what I meant by that marquee. We sometimes we call it a radiating reference. It's just somebody really would talk about you. You're not even in the room. I mean, yeah, you know, very cool.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Whereas a larger company would say, look, we'll put you in our queue and you'll be on our, you know, we'll get you. Yeah. I think this is the, and by the way, this is part of the fun, frankly, of being. In a startup because you're so close to the action, because there's nothing between you and the action. And so, you know, why wouldn't you do that?”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Key to the game. And that's a little bit weird because if you've invented ChatGPT and now you're saying, but I am going to solve the third grade math problem, which is a real problem. But ChatGPT can do any, I know, but we're going to solve the third grade math problem. That's hard for a lot of entrepreneurs to get their head around.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Yep, yeah. I mean, you know, this is like another, an English major doing math, right? So be careful. Because I am an English major. But in general, because again, I said it's not expensive. And by the way, you're not discounting. In other words, you're actually using value pricing because the problem you're solving is severe enough. The customer doesn't want a discount. The customer wants you to It's like, you know, if you have to have heart surgery, you don't want a coupon that says heart surgery $9.99 this Saturday only. You know, I mean, you want to go the mail clinic or you want to go to wherever. So you don't have to discount. What you do have to do is you have to make almost like a guaranteed commitment to the problem to solve. We're going to take this problem off the table and we're not leaving until you're satisfied.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Two things either A, that the technology is too expensive and you cannot self fund it, GPUs, a bunch of that, training large language modules, those kind of things. Or this thing is going to get catch fire too soon, and I don't have time to dither around for two or three years. So those are two reasons to go to venture capital. But just because you want to do a startup doesn't mean you need venture capital.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Would even if Bill, even though I have a product vision, I would start with trying to make as many projects, which would be very customer-led. And frankly, initially, even if I have a roadmap, the customer's probably going to take me off my roadmap a bit. I'd have to be willing to say I'm going to open the aperture enough because I just need to get enough experience with the technology. I need to put in people's hands. If it's a freemium play, you can do it for free. But that tends to be more of a consumer play. There are exceptions. There are B2B companies like Alassian and things that did start as a premium play, but that's not as normal. I would think more the consultative play to do that. But what I would try to do is I would try to get to cash flow break even on my own money with no venture capital. The only reason you need venture capital is if”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes, and so initially, I think, and of course, you and I are both playing with, let's be clear, we're playing a software game. I mean, like, for example, I was trying to apply this framework to Intel, and Intel said to me, Jeffrey, you do understand that a prototype product in our industry costs about $500 million. Okay, okay, okay, okay. Maybe that's not the same model. But for most of the, I think in our world right now with digital transformation, most entrepreneurs are doing some software-led play, which means you can work with a small team. And so I think what I would advise is I would do projects.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“It has to do with the persona of the executive sponsor. Nine out of 10 executive sponsors are going to be the negative because they're going to be a company person working with company processes. They're going to send you to purchasing. Nobody's going to be happy. You're looking for the tenth one. And the tenth one is one who says, I'm so tired of the status quo. I'm looking for people that are visionary like me. I like talking to you better than I like talking to my peers because you're different and I want to be different. I want to leapfrog the world. And these people just want to stay on the escalator. So they're staying on the escalator. God bless them. But I want to jump over the top. So it's a persona-based choice is the key thing there.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“And the good news about crossing the chasm is not expensive. I mean, think about it. Once you've said, I'm going to stay in one geography, in one industry, one profession, think about your marketing budget. I mean, you're not buying Super Bowl ads here. There's no sock puppets. That's not what we're doing. We want to get to maybe 200 people with a message. And then do you have the domain expertise to really understand the problem? if it's a really compelling problem, they'll take the meaning. And getting that meaning is, because if you're an entrepreneur founder, you're probably fairly charismatic. First of all, you've convinced your spouse that you're willing to work for no money with no benefits. And maybe you pitched a venture capitalist and you fooled them. So why can't you fool these guys? Anyway, that would be the way I would go.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Sure, AR is going to be the right reference. Here's what you need you need a major account who's gone all in with you on the new technology and who is willing in some way to talk about it. The good news about visionaries is they tend to have fairly big egos and they tend to like to talk. So unlike pragmatists who will not want to talk, pragmatism, they'll have to go to legal and get permission and blah, blah, blah.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Same geography, same profession, and then the compelling use case, which is the thing that, and that, and that's the thing that starts the fire. I mean, there's segments everywhere. And they all, by the way, they all do every segment works the same way. If I have to make a high-risk buying decision, I'm going to talk to my peers about it, and I don't want to be first. I want to be able to do whatever the herd's doing. But what a compelling reason to buy does is it goes, well, but I have to act faster than I want to. And that's what you need as an entrepreneur. You need the customer to be coming toward you, even though you're new and you're unproven and frankly, you scare the crap out of them, but they're even more afraid of the problem that they're saddled with. And so that's why you can build a relationship with them.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“So you say, okay, but what it can't be is a billion dollar segment. Because if it's a billion dollar segment, you might be able to get there, but you would not be a big fish. So that's the fish-to-pond ratio thing. So you want to think about, particularly as you're starting out, and this is a B2B model predominantly, if I could take the top 20 customers in this segment, meaning what do I mean by segment? It's in the same geography. People in Japan don't talk to people in America, people in America don't talk to people in Germany. They even speak different languages. They don't know why everybody doesn't speak English, but apparently they don't. So they have to be same geography, same industry, because dentists do not talk to software designers who don't talk to advertising people. And in the same profession. So salespeople don't talk to finance people and finance people don't talk to guys in the warehouse. So same industry.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Point you want to have a target segment that is big enough to matter, small enough to lead, and a good fit with your crown jewels. That's the formula. So big enough to matter means if I got, do I have enough room to double or often venture capitalists talk about a triple, double followed by a double, triple? So if you said, okay, let's just, I'm going to make you a million dollars for that visionary just to give you a number. Okay, so a double, triple would be I went from one to four and from four to twelve and then I did a triple double. So that would be 12 to 24, 24 to 48, 48 to 90. Okay, so how would you get from 1 to 100 million dollars? So you want to have a segment that I could get to $100 million in a five-year, that was a five-year window, right?”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, so first of all, before you try to cross the chasm, do you have a marquee? Have you won a marquee customer that puts you on the map? So don't even, I mean, that's, because if you're not, you need to make yourself visible before you can make the crossing the chasm plot. Let's assume you've done that. So then you first thought, well, why don't I just use that industry? Turns out that the visionary person you work with, first of all, they did some very weird things because they're visionaries. And second of all, they don't want to help their industry. The whole point of this was they wanted to get ahead of their competitors. They didn't want to help them. So normally you can't use the visionary project as your beach head. You'd love to from a point of view of reusing the work. You just can't. So then the question becomes, okay, where am I going to go? And so the key formula, and this is the formula, there's one sort of takeaway from founders listing this.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“And then after the Petrochemical guys got, well, the chemical guys got, then the petrochemical guys got it. And of course, they're oil and gas. And they say, well, you know, in addition, we have all these leases and the leaseholds. And it's really, we need, this property is critical to our future plan. So we need a document database for the leases. Some of the guys on Wall Street who are financing these guys are going, well, wait a minute, hell. I mean, we're paper from wall to wall here. And so what happens is you have this thing of this expansion, but in each case, it was into a new segment, but the use cases were close enough.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“The one that we wrote about first was this company called Documentum. And it's a good example. So it was a document management database back in the day. Nobody had any, why would you need this? Started with the pharmaceutical industry because pharma said, well, new drug approvals are 500,000 page documents and they really, really, really hard to manage. And we're screwing it up. And every day we screw it up, we lose a day of patent life of our drug. And the patent day of patent life is worth about a million or two million dollars a day. This is a bad situation. We need to do something. So, okay, pharma, you got pharma. Great. Well, then what happened was the guys in petrochemical said, well, you know, we're in the chemical industry. We're not in the pharmaceutical industry, but we have these standard operating manuals, and we have all these regulatory demands on us too, not quite like the FDA. But this looks like this could be pretty useful.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Sure. So, well, the bonfire analogy is just, you know, the tendency when you're in the chasm is, I just need more customers. I should take any customer I could find, right? Because we need revenue, right? But the analogy I have is it's like taking a match and running it back and forth under a log. It's not like the log. So how do you start a fire? Well, you started by putting a little kindling, little crumpled up paper, and you hold the match one place until the fire starts. And then you want to build the Bowling Alley metaphor is a little bit about how, first of all, how could you win your first segment, but then increasingly, how would you go forward to win it? And that's why adjacency is so important. If you light the fire and the piece of kindling is here, but the log is in the other room, that doesn't work, right? So I think those are kind of the key ideas. There's a lot of people that have made crossing the chasm successful.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“the new place of innovation. So, you know, we've had taxis for 100 years, but Uber is an incredibly valuable thing. And so you convert the product to the service and how do you revolutionize services?”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, wait a minute Wi Fi isn't just for financial analysts or isn't just for Wi-Fi is for everybody. And so instead of saying we believe what you believe, which we're not there anymore, and even these people aren't even really saying we need what you have, but they're saying is we want what they have. This is really cool. I want what they have. And that creates what we call the tornado. And that's when people, this is when you do want sales coverage and you do want to go broad and you do want to have a standard product. And basically you want to capture as much market share as you can. I mean, there's a whole playbook around doing that, which was in a book called Inside the Tornado. And then the last one, which is actually becoming much more important in this century, is called Main Street. But Main Street, where products have become commoditized, services become”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Project business, but it only scales up to the limit of the target segment, right? So we had this bowling alley model of sort of extending, you could go to a second segment, a third segment, if it was adjacent. So adjacent means either it's the same customer with a different use case, or it's the same use case in a different customer base. Because the one case you use your customer references, the other case you use your partners, because the partners who built the one use case will say, well, we got another segment that we work with. Let's bring you into that segment too. So that can take a company from, I don't know, tens of millions of dollars to hundreds of millions of dollars in the bowling alley. And in specialized industries like computer-aided design or things like that, you can actually go to a billion dollars or higher. But with most other categories, at some point you have this third inflection point, which is it's when people go,”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Already talked to everybody they already know, and the problem is still it's not that it's unsolved, it's being solved in a crummy way. And by the way, in a deterioratingly crummy way. So it's getting actually worse. So there's pressure for them to act. This is where you go from the project model to the solution model. And as a vendor, you overcommit to their problem. From the very beginning, from the very beginning, you talk to them. They don't want to talk to you about you. They want to talk to you about them. And you need to ask them probing questions about them. It's like going to a doctor. You know what the doctor to come and say, hey, can I show you a movie the operation I just did? I want to give you a demo. Do you mind if I give you a demo? It's like, no, but I would like to do is talk to you about this pain I have in my side. And then when the doctor asks you good questions about it, you go, ah, this is a good doctor. I'm going to trust this. So that's the whole point about that. And again, that scales a lot more than a problem.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“And if they've never heard of your customer, I don't care how amazing the win is. Nobody's going to hear about it. So it's really important you did it with Apple or you did it with Verizon or you did it with Mercedes, somebody that people have heard. So that's number one. And that's a project model. Even if what you sell is a product, those early mark, every one of them's kind of a snowflake. It needs a ton of special services. There's no ecosystem of partners to support you. So you throw a bunch of extra labor at it. You do whatever because you got to make them successful. So you'll do whatever it takes. Okay. Very cool. My remarky client. Not scalable business. I mean, obviously. So then the second one is the cost of the chasm playbook. That's the one that organizes around the problem. The good news is those customers are open to hearing from someone new because they've”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“In fact, if there's a total in the model of the technology adoption lifecycle that we organize this all around, there's actually four, I call them inflection points. So the first one we call the early market, that's the one we were talking about, that's the visionaries and the technology enthusiasts. They are as excited about you as you are. I mean, they want the demo. They want to see the vision. They're exciting. And the key to that market is to have an executive sponsor who has enough clout to essentially fund this thing because there's no budget for you. So they've got to create the funding and then kind of drive the organization to go all the way to Bright. And they're not that many visionary customers, but there's always one or two. And the reason why it's so important to work with a marquee customer then is you look, nobody's ever heard of you.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“And one of the ways we try to capture that thought bubble is before the chasm, the customers you work with are people who say we believe what you believe. So in other words, they're on the same side. After the chasm, they say, I'm not sure about that, but we need what you have. So transitioning from we believe what you believe, which is kind of how you sell the visionaries, to we need what you have, which is how you sell to pragmatists. That's kind of the shift.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Pragmatic people buy what they see their peers are buying. And so if peer one is buying product A and Pier two is B and C and D, there's no market leader and the category kind of goes sideways. But if A, B, and C, if three out of four people are using the iPhone, say, oh, I guess I'm supposed to get an iPhone, that kind of thing.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“40 50% of that of the market share in that segment that would cause partners to go whoa if we're going to serve that segment we got to work with these guys right and so so that's kind of the key and the concept there is well why wouldn't you also you know do two or three or four segments at the same time it's sort of the same reason why wouldn't you run in three or four primaries at the same time if you want the presidential nomination although why you would want that nomination i have no idea but but if you did you realize if you're running in new hampshire votes in vermont do not count and it's the same thing with crossing the chasm you need to get three or four or five or six you know reputable companies in a segment to all pick you for then the rest of the segment to go well it's pretty obvious who the standard is and i'll just close with one last comment and the reason the mechanism behind all that logic is that”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Work with you in order to consolidate your position. Well, why would an ecosystem work with some startup that nobody's ever heard of? And the answer would be, if you had consolidated a market segment where you were number one. So one of the things we've learned about company power is that it's basically the company power plus the ecosystem together. And so ecosystems form around market leaders, and they do not form around the rest of us. If you're a category leader, if you're like Oracle in databases, you know, you're 40 years in, you're still the leader because the ecosystem organized around you. But when you're little, the only way you can get an ecosystem to organize around you is to go after a segment where you're a big fish in that pond. So we talk a lot about fish to pond ratio, right? You want to, your first pond, your target segment should be something that in the next two years, if you hit your really high growth rates, you'd be 30%.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“If you're essentially in a business where the category is emerging, then the most important thing for you to do is to be able to create enough power around your company that you can navigate your future on your own power. So where does power come from in an early adopting technology world? First of all, it'll come from can you get a lighthouse customer? So one of the things we try to do even before you try to cross the chasm is can you get one or more customers who kind of put you on the map? And they go, whoa, did you know that the CIA used AWS? You know, like, holy smoke. Okay, that's great. It doesn't make a company, but it makes a story and it lets people know, oh, here are the guys that did the CIA project, that kind of thing. The crossing the chasm model is, can you create a viable repeatable business? And in order to do that, you need to have an ecosystem of partners.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Starting Your initial target audience. People conceptually know this. They're like, yeah, we should be really focused with our initial. We should stay very small.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“Be looking at this through an inside out lens. Maybe you should be looking at it from an outside in lens. That's probably number one. Gosh, after that, I'm just empathetic with the fact that their world's more important than my world. So I try to work with their world. Exactly where I actually wanted to go next is this idea of”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“The Do you think people still don't really understand or often get wrong? All the books I write are about frameworks. I mean, they're conceptual models about what patterns should you be looking for as something evolves. Because in disruptive innovation, there's no history, right? You're always projecting a possible history and then seeing if you can make it come true. So that implies there's a lot of freedom to sort of exercise the framework however you choose to. And people sometimes do that in ways that are just they actually end up being very misleading about what's possible. So I can remember one person early on saying, yeah, we're crossing the chasm. Our beachhead segments, the Fortune 500. And you went, I don't think maybe you're just clear on this as you could. And to be fair, that's kind of what the function of any third party advisor is, is to say, look, time out.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“And it almost feels like This podcast has crossed the chasm now that you're on. You called me earlier, I probably would have been on it with you. But anyway, we're together now. That'd be fun to start with this question of just. Frustrates you most about what people still don't get about. Things that you”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“It's nice to be here and Lyndon, thank you for having me. Incredibly cool to have you on. You've been at the top of my wish list of guests.”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“In product pop ups really annoying. Want to take a tour? Out this new feature Pop ups are becoming less and less effective since most us”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source
“The tendency when you're in the chasm is I just need more customers, I should take any customer I could find, right? Because we need revenue, right? It's like taking a match and running it back and forth under a log. It's not like the log. So how do you start a fire? Well, you started by putting a little kindling, old crumped lip paper, and you hold the match one place until the fire starts. And that's why adjacency is so important. If you like the fire, the piece of kindling is here, but the log is in the other room, that doesn't work. My guest is Jeffrey Moore Jeffrey is the author Maybe the most influential and important book on go to market ever written The chas Though it's sold”
2024-01-25 · Lenny's Podcast · Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market · IDENTIFIED FROM THE TRANSCRIPT · source