Refining the Echo Chamber to Excel in an EconomicCrisis
PR, Co-author
The point of this essay is to redefine how startups (not solely tech companies)view and define early adopters and the "echo chamber" in order to gainmomentum in order to “cross the chasm” to the next tier of evolution, adoption,and monetization. This is about uncovering the very people who can benefit fromwhat they’re introducing and in turn, evolve the product/service based on realworld feedback.We can not assume that early adopters and innovators are relegated simply totech, silicon valley, .0 startups, or fanboys and girls of shiny new objects andfeatures.There are early adopters (aka savvy consumers) in every market segment, andthat’s an irrefutable point. They create highly influential echo chambers with their own associated bell curve’s around the globe that stimulate and inspire their dedicate ecosystems.We ALL need to rethink how to dissect and define “the echo chamber” because inthe process, we’ll uncover that consumers, not just geeks, are also earlyadopters in their own right and they need to be treated as the a-list in their owncommunities. Thus, we must expand the traditional view of the echo chamber toinclude the “new” influencers across multiple markets, where they reside, as wellas discover, share, and compel those around them. This broader, yet focusedapproach removes our “tech” blinders and frees us from solely focusing on “one”audience or demographic in order to build a global and pivotal groundswell.The echo chamber, by default, is perceived as it is defined, by the people, not bya dictionary. This doesn’t advocate living in the echo chamber, only leveraging it,across multiple markets, to excel in the mainstream, thus bridging the chasmsbetween them.---
Refining the Echo Chamber to Excel in an Economic Crisis
Source:Albireo2006(he's an incredible photographer)
“I would tell (entrepreneurs) to keep their day job until they got one year of funding, and if they couldn’t get that, then they’re not meant to start that company right now…. My advice to (start ups that don’t have a year’s worth of money in the bank) would be to raise money by reducing your own spending. If you can’t raise more money, you have to cut costs. And that’s what I’m harping on to my companies.”
-Ron ConwayWe are witnessing an epic financial meltdown or long overdue resetting of existing business practices and the hollow markets they create. Or, perhapswe’re experiencing both of these phenomena. Either way, it has the nationgripped with fear, uncertainty, and an unsettling eruption of questionable adviceconfusing everyone, everywhere.While the floor is crumbling for many industries much in the same way it did for Silicon Valley during the dotbomb years, the sky isn’t necessarily falling on thestartup industry – at least not for those with marketable technology or products,dedicated and capable teams, an executable business plan, and access to theresources necessary to help it reach users and customers.To put it another way, we will not witness a great startup depression. There isonly opportunity to grow your business, mind share, and market share. And, thattime is now.The U.S. financial market will always mimic a yoyo on an escalator. It goes upand down, but it’s always going up.For those startups that are building and marketing usable solutions for consumers or businesses, there is much work to do. If you’re seeking angel,
Series A, or even Series B funding, seek partners who are insulated fromaffected markets so that they can support you and your growth organically,without unnecessary pressure from external forces that are outside of your control. The money is still out there for worthy entrepreneurs.Usually, when the economy slides, the first natural reaction is to cut expenses,conserve cash, and hunker-down to weather the storm. Any savvy and seasonedmarketing and business veteran will advise you to do the opposite. This is your time to shine, albeit, strategically and intelligently.
“Great entrepreneurs build value and market-share in down markets. They go towork seven days a week and the(y) breakout when other folks check out.”
-Jason CalacanisNow’s the time to get your head in the game and focus on what it is you do, andgo do it better than anyone else. You’re either on the field or you’re on thesidelines.Any company that intentionally pulls itself from the radar screen of their customers will be absent from customer decisions and referrals. In the process,you create a frictionless opportunity for your competitors to swoop in and fill thevoid.Marketing, PR, service, and product development are now more important thanever. They will not only help you stay alive, but also fuel growth – even in a downeconomy.There are always customers making decisions, so make sure that you’re part of the equation and process, wherever they go for information and insight.Your business can grow with the groundswell and doesn’t necessarily require theinstant adoption by the masses in order to succeed in the short term.
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Redefining the Echo Chamber by Brian Solis
The point of this article is to redefine how startups (not solely tech companies) view and define early adopters and the "echo chamber" in order to gain momentum in order to “cross the chasm” to the…
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