This is a phrase I first heard from Dean Graziosi. I have written about it earlier also . Its a very simple thought process. I have used it in terms of B2B marketing but I would guess it would apply in all kinds of marketing.
The logic is that every market takes time to adapt to a new offering that you bring to the market. It could be because of inertia in B2B setups because of the sheer number of people involved in making decisions as well as the complexity of processes.
If you don’t have the stamina to last through the cycle before the adoption of your offering “crosses the chasm”. This stamina is both in terms of finances and your own abilities to persist.
Today I got a different view of this . You would have read about my philosophy of riding the elephant to get access to markets. We had been riding one very large OEM for a certain set of tools. Between 2014 and 2016 we invested a lot before we got any business. But subsequent to that we got a lot of business which suddenly dried up by 2019 because the OEM decided to take a different direction (I have written about these in the challenges when riding the elephant)
Now however today I got a call from one of the reps of the OEM checking if we still have the team that was created. Generally we prefer to play the long game. So we had kept the team because we had some residue business that we were closing, while we were evaluating our options with other OEMs.
The OEM now wants to utilize the same team to go out in the market with the new products that they are launching.
If we didn’t have the marketing stamina (if we had not planned with a long term view) we would not have been able to today get a jump start.
Think long-term and plan accordingly.
Till next time then.