Joining us today on the Serial Entrepreneur Club was best-selling author of Crossing the Chasm and Inside the Tornado, Geoffrey Moore! With years of experience as a VC, business management strategist, and consultant, Geoffrey dove into the technological chasm and utilizing those trends to scale a startup. What a great first session for Geoffrey and insightful conversation for entrepreneurs at any stage of business!
Revolutionizing the way of strategic market planning and developing the framework for companies at both a small and large scale, Geoffrey became an expert in business growth before putting his wealth of knowledge and library of ideas down into novels, soon to become favorites of MBA students everywhere.
In the session, Geoffrey explained the technology curve through the usage of four stages: The ‘early marker,’ ‘The Chasm’ that involves the pragmatics and the conservatives, the third stage, ‘The Tornado,’ and lastly, ‘maintaining a base.’
Geoffrey said there is no perfect time to jump into your startup, rather it depends on the funding you are seeking and whether your team is led by marketing or technology.
“In the early days imagine your company as a project company, not a product company”
Geoffrey Moore
On walking the fine line between going all-in on your business idea and being conservative in the early days, Geoffrey urged listeners to lead with their passion and set out to find people that share in it.
“I think you do have to quit your day job. Part of being an entrepreneur is taking career risks, and financial risks to pursue something you think is really exciting”
Geoffrey Moore
Of course we had to ask Geoffrey where he thinks social audio (like Clubhouse!) stands in the life cycle– has it crossed the chasm? It’s on its way, Geoffrey suspects, noting that the platform is amassing audiences that like it and while he believes apps like Clubhouse have a long way to go, we should expect to see many social platforms jumping on board with the popular social audio trend.
To hear more about Geoffrey’s business models and advice for emerging entrepreneurs, tune into the full conversation above!