Tuesday, April 19, 2011

Early Adopters & Late Bloomers

Changes are occurring faster and faster.

I'm sure my parents and even grandparents felt the same way in their lifetimes.

With the speed of technology improvements, it seems that what was last months new thing, is already outdated.

And there is no sign that any of this shows any sign of slowing down.

So how do you ride the wave of the next new thing?

Understand that the Early Adopters are always going to be looking for the next new thing. These people will not make you rich, but if they have influence, they can help push your new thing to Mainstream.

Once the new thing becomes Mainstream, the Early Adopters may or may not stick around, since they are always on the look out for the next new thing.

But Mainstream is where the money is at. If there is money to be made by your thing, this will be the time. If your thing becomes really popular, you will face competitors, more than you can imagine.

What about the Late Bloomers? Typically these are the hardest to convince. Usually no amount of advertising will ever move them to spend their money with you. Word of mouth and peer pressure along with a low price is what gets them to become your customer.

Once you understand this business cycle, you can create a focus, a strategy, and the tactics to make it work, and worry less about trying to please everyone, all the time.

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