Although we have provided an overview of innovation and the pattern by which innovations are adopted, don’t overlook the very motivation for this class: the great black hole of innovation. The truth is that most new ventures die before they ever reach the chasm, and little has been written and presented on the section between the business idea and the chasm. Business schools tend to focus either on writing business plans or high-level strategy issues. Business books tend to focus on low-level tactics, such as getting a business license, or just a slice of the process, such as gathering customer input. Little material covers the process from the beginning to the end, from developing an innovation and then taking it to the market.
When we sat down with Geoffrey Moore and asked how to get a new business to the chasm, Moore’s answer was, “I don’t know.” His honesty was a catalyst to study how entrepreneurs successfully get to the chasm by passing through the black hole of innovation, where most businesses go in and never come out. The ideas in this class and the Nail It Then Scale It process will help you move from the business idea to the chasm and then hopefully over the chasm so that you, too, can build a successful business.
(See Nail It Then Scale It, pgs. 33-34)