Action 2 - Calculate The Cost Of Your Adoption Gap

The Adoption Gap is an absolutely real cost to you, your team, your investors, your clients and the world. 

Let’s stick with my home turf of Robotic Process Automation (RPA). The technology to do this has been around since approximately 2002. There were a number of pioneers from that time that stuck it out and persevered. 

[And, of all the traits that is going to differentiate winners from losers, it is the ability to persevere and keep going, through thick and thin - but let’s not get distracted.]

However, it took around 12 years for even part of their target market to be even aware of what is possible. Awareness is the first step to buying, but still a long way from actually getting the sale. I remember the first conference that one of them held in New York, going in to a room of 40 people, of whom 20 were from the firm itself, and thinking that I had only been invited to a side-event at the main conference. Turns out, no, that was the conference. Two years later and there were 2000 people there, and the following year it was too big for any location in New York City.

Even then… even then, most of the people attending were still pioneering the technology. Advanced adopters had, at best, applied the technology in 5% of their potential use cases - and that is the advanced adopters. The rest were at 0%.

So this is one technology. In one niche. And the Adoption Gap is a factor of:

• The length of time between the technology being possible and being adopted in the market
• The length of time it takes each client to go from testing it to fully embracing it in 100% of the possible use cases.
• And the value available in each of these use cases.

Speed to awareness. Speed to use. Speed to saturation.

This is not going to be scientific, one way to calculate your Adoption Gap is as follows:

1. How much value does your solution create in 1 year?
2. What is the maximum number of clients who could use your service globally?
3. How long is it going to take you from launching to you getting to full penetration in each of those clients?

That is just your business’s Adoption Gap!

You and your team will have an Adoption Gap cost from your investment or salary sacrifice.

The VCs have an Adoption Gap cost.

Heck, even your family has an Adoption Gap cost from not having you around when you are deep in “start-up” hell and then out pacing the world trying to grow as fast as possible.

So now you have some real numbers in our head. 

What if you speed it up adoption? What if you can speed up awareness of what you can offer? How much does that translate into? And what is the real cost to our world of that being delayed?

Want to know more?

We can train you how to create content and get it in front of your target audience, Or we can do it for you. Reach out to me on [email protected].