Catawater®’s Journey to Success
The Chasm Theory
Have you ever heard of the “Chasm Theory” technology adoption lifecycle? I hadn’t until recently when I spoke with a friend from the oil patch. He explained the theory and how it applies to Catawater’s journey to success.
Definition
It describes how people respond to innovative technologies. It is defined as: “The technology adoption lifecycle (Chasm Theory) summarizes how communities react to discontinuous innovation, i.e., new products that require the end user and the marketplace to dramatically change their past behavior to achieve the promise of equally dramatic new benefits.”
This is the best way I have ever heard it stated and describes the last seven years for us here at the Catawater® Group of Companies. We have worked diligently to introduce and commercially implement our technology and product lines in the various industries where we can make improvements.
It has undoubtedly been a journey since our products are unique – and well worth the time and effort.
The Adoption Curve
There is also something called the “adoption curve.” This is when new technology crosses paths with opportunity for hyper-growth and market success. It is where/when the innovative technology leaps from being a new, little-known, or exploratory product to being adopted by the masses and becoming a well-known or best-practice technology.
In a previous blog, I told a story about a Dallas billionaire who told me it would take seven years to cross over into mainstream status. That billionaire was spot on, and I appreciate him for keeping my expectations in line with reality.
Today we find ourselves in active strategic partnership discussions with major service companies, which we will announce soon.
We are so grateful to have made it to this stage where we have crossed the chasm, and our technology is being embraced.
We sincerely appreciate the cooperation of our customers and clients who have brought us this far. From the early adopters to the early majority has been one heck of a journey. Who knows where this may lead?
Stay tuned!
As always, we wish you the best as Q4 is underway, and we hope your businesses prosper for the benefit of all who depend on them.
Steve
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