The corona situation has given us a once-in-a-lifetime opportunity to cross the chasm from the early adopters to the early majority. In other words, we have the chance to evolve from being an enticing solution for innovators to becoming a recognized standard in the mainstream market. Most technology companies never manage to cross the chasm.
It is a chasm because early adopters and the early majority are very different from each other. While early adopters are visionary innovators who test new technologies to make a potential leap and separating themselves from competitors, the early majority are pragmatic. They want proven solutions tested in the market. Preferably a solution provided by the market leader.
Crossing the chasm is not possible unless we define a small beachhead market we can dominate fast. Our beachhead market is maritime education in Southeast Asia (Philippines, Malaysia, Singapore, and Vietnam). There are 110 maritime schools and universities in this market. When we get 33 of these schools as customers, we will become the undisputed market leader with a 30 % market share. As we already have 18; we just need 15 more before we have crossed the chasm.
Besides defining a small market, the key to crossing the chasm is to develop a whole product. Our core product is the web-service enabling customers to create a-books. Along with our content, this forms our generic product. The early majority, however, expects more. They want a complete solution that is easy to implement and that fits seamlessly into their operations. We have to build that solution over the next 12 months.