2. Applications ACCELERATOR March
WHAT IS OXYGEN close 31st
13 WEEKS, 10 STARTUPS
€7,000 per founder max €21,000
8% Equity 150 + Mentors supporting you
Office space Investment ready
Oxygen Accelerator
15. iteration loop of doom
Feedback
Features
startup
@oxygenaccel
www.oxygenaccelerator.com
16. iteration loop of doom
Feedback
Features
Au
startup sg
an chasm
g
@oxygenaccel
www.oxygenaccelerator.com
17. top tips for getting to the chasm
# cohort users
# try to categorise users
# go after early majority type
users to test things once you
have early adopter traction
@oxygenaccel
www.oxygenaccelerator.com
18. # You must use your early
adopters to find & promote your
product to early majority
- think dropbox style virality
@oxygenaccel
www.oxygenaccelerator.com
19. and that’s why you
shouldn't give a f*
about the chasm
@oxygenaccel
www.oxygenaccelerator.com
Notes de l'éditeur
Hi I am Simon Jenner, CEO of Oxygen Accelerator based in the UK. Quick overview of Oxygen, we are a 13-week accelerator programme that takes 10 teams and accelerates them to become investment ready. We then put them in front of seed investors at demo day.
I want to start by understanding my audience – who here is at idea stage – hands up, who is bootstrapping a startup?, who has a funded startup. Who is an investor in the room? Ok so we are here to talk about Crossing the Chasm and we have heard from 4 amazing startups about their journeys.
I have had the opportunity to work with over 60 tech startups in the last 3 years and I wanted to share what I have observed and learn’t from them. And do you know what I have learn’t?
Early stage startups have no business worrying about this sort of thing. I estimate 60/70% of startups never get to the chasm. I am going to explain why you shouldn’t give a F** about the chasm, why things have changed since the book was wrote and give you three rules of The road to the chasm looks a little like this
It’ s a long and winding road and it has lots of dangers along the way. Every startup takes a different route, some will go straight across here and try to go up the steep cliff, others will plod along the road. Some will head in the wrong direction, pivot and come back towards the chasm. This journey that a startup is on has danger at every bend in the road and the reality is it looks something like this
It is littered with the startups that have gone to the deadpool.
We all familiar that this is the path that a startup follows and these are the types of customers they must attract to reach the chasm
It first attracts innovators who can help alpha & beta test the product, it creates a MVP. We then go on the hunt for early adopters, we get lots of these we iterate our product and if we are lucky we reach the chasm where we must transition between early adopters and the early majority. Well at least that was the perceived logic back in 1991, things have changed in the last few years. So problem 1 I call “Oh look something shiny”
Early stage startups have no business worrying about this sort of thing. I estimate 60/70% of startups never get to the chasm. I am going to explain why you shouldn’t give a F** about the chasm, why things have changed since the book was wrote and give you three rules of The road to the chasm looks a little like this
Change picture of dude in middle Old – facebook, twitter, iphone 3gs, itunes, evernote pictures of iphone5, pebble, Vine, pintrest, soundcloud, papermill, etc
The time you have to keep the attention of these early market people has got shorter, a lot shorter. Once upon a time you had years to do this, I now estimate it is less than a year to move from innovators to early adopters and another year to move from early adopters to the chasm. If you haven’t done it by then you are in trouble,
Early stage startups have no business worrying about this sort of thing. I estimate 60/70% of startups never get to the chasm. I am going to explain why you shouldn’t give a F** about the chasm, why things have changed since the book was wrote and give you three rules of The road to the chasm looks a little like this
Lots of startups get caught in the iteration loop of doom. They get great feedback from their customers they iterate and add new features, update features – the roadmap gets wider, the feature list gets longer.
Lots of startups get caught in the iteration loop of doom. They get great feedback from their customers they iterate and add new features, update features – the roadmap gets wider, the feature list gets longer. But they never find the exit towards the chasm, they never go after the early majority
Lots of startups get caught in the iteration loop of doom. They get great feedback from their customers they iterate and add new features, update features – the roadmap gets wider, the feature list gets longer. But they never find the exit towards the chasm, they never go after the early majority
Lots of startups get caught in the iteration loop of doom. They get great feedback from their customers they iterate and add new features, update features – the roadmap gets wider, the feature list gets longer. But they never find the exit towards the chasm, they never go after the early majority