How can a startup use the technology adoption life cycle model to cross the chasm and grow?

1. Understand the Technology Adoption Life Cycle: This model describes stages of market penetration of discontinuous innovation. It's crucial for entrepreneurs to understand where their product fits in this cycle.

2. Identify Your Target Market: Based on their response to discontinuous innovation, customers fall into a bell-curve with five segments with unique psychological and demographic profiles. Entrepreneurs should identify which segment their product appeals to.

3. Understand the Chasm: The chasm is the gap between early adopters and the mainstream market. Many start-ups fail to cross this chasm. Entrepreneurs need to develop strategies to successfully cross this chasm.

A small business can utilize the five segments of the bell-curve in the technology adoption life cycle model to expand by understanding and targeting each segment effectively. The five segments are Innovators, Early Adopters, Early Majority, Late Majority, and Laggards. Innovators are the first to adopt a new technology. They are willing to take risks and are often the ones to develop new ideas. Early Adopters are the next to adopt a new technology. They are leaders in their communities and their acceptance of a new technology is a key indicator that the technology will become mainstream. The Early Majority are deliberate in their adoption of new technology, they adopt new technology before the average person. The Late Majority are skeptical of change, and will only adopt new technology after it has been tried by the majority. Laggards are the last to adopt a new technology. They are often skeptical of innovations and change. By understanding these segments, a small business can tailor their marketing and product development strategies to meet the needs and preferences of each segment, thereby expanding their market reach and increasing their chances of success.

Discontinuous innovation challenges existing paradigms in market penetration by demanding a change in consumer behavior. Unlike incremental innovations, which improve existing products or services, discontinuous innovations introduce new concepts that disrupt the market. This requires consumers to change their habits, which can be a significant barrier to market penetration. The technology adoption life cycle model describes stages of market penetration of discontinuous innovation. Customers' response to discontinuous innovation falls into a bell-curve with five segments, each with unique psychological and demographic profiles. This further complicates market penetration strategies.