Big News: FounderDating is joining OneVest to build the largest community for entrepreneurs. Details here
Latest Notifications
You have no recent recommendations.
Name
Title
 
MiniBio
FOLLOW
Title
 Followers
FOLLOW TOPIC

Question goes here

1,300 Followers

  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur

Is the first mover advantage a must to succeed?

Especially if we are talking about online networks that have that market share and networking effect component to succeed. What are your thoughts?

11 Replies

Michael Leeds
2
0
Michael Leeds Entrepreneur • Advisor
CEO & Founder
Friendster (https://en.wikipedia.org/wiki/Friendster) and MySpace came before Facebook. Facebook came before Snapchat.
Arthur Lipper
0
0
Arthur Lipper Entrepreneur
Chairman of British Far East Holdings Ltd.
No. Frequently it is the second mouse which gets the cheese.
Anil Jain
1
0
Anil Jain Advisor
Senior Vice President & General Manager, Media at Brightcove
First mover advantage sounds like a competitive strength ("we were the first to do X....") but it's not always a good thing. As people sometimes point out -- "the pioneers are the ones with all the arrows in their backs." First mover advantage is great and can work as a strength if you have the ability to sustain that advantage by continuously doing what the market you're serving cares about, whether it's providing the most responsive customer service or delivering a steady stream of innovations or maintaining the best performance in your field or category. In entrepreneurial ventures, being the first to do something may garner you the spotlight -- for a moment -- but it also allows your competitors to watch you, see where you trip up and learn from your mistakes. Being a fast follower is sometimes a shrewder strategy. Put more frankly, let those who come before you flatten out the learning curve for you. First movers often help create awareness in a category (or create the category).
Jason Taylor
0
0
Jason Taylor Entrepreneur
Executive Director at Total-Apps Inc.
No look at companies like Apple and 3m they just make things better Get Outlook for iOS
Shel Horowitz: Shel AT GreenAndProfitable com
0
0
I help organizations thrive by building social transformation into your products, your services, and your marketing
First-mover is an advantage IF you have the skills and infrastructure to monetize it. Sometimes, you don't even have to be second, if you are that much better. There were 20 or so major search engines when Google came along. Google is the only example I can think of where "if you build it, they will come" actually WORKED. Google spread very rapidly in the old days because friends would demonstrate it. Once you saw the clean interface and the rapid, accurate search results, you were hooked.
Ismail Berkan
0
1
Ismail Berkan Entrepreneur
Lean Innovation Consultant | Digital Strategy & Transformation Advisor | Startup Mentor & Coach
No, it's the "fast follower" not the "first mover" a way to succeed. A study shows that the fast followers and first movers have 8% and 47% failure rate, respectively.
Tom DiClemente
0
0
Tom DiClemente Advisor
Management Consulting | Interim CEO/COO | Coach
I'll pile on and agree with most of the above that there is rarely advantage in being the first mover. One of the biggest reasons that followers tend to overcome the first movers is that they learn how to market better, how to reach the right consumer with a compelling message or with the features that the consumer desires.
Arthur Lipper
0
0
Arthur Lipper Entrepreneur
Chairman of British Far East Holdings Ltd.
Typically those able to bring a similar product to market will have far greater marketing reduces than the product introducer due to the fact that they will tend to be more established and be more conservative in their risk taking.
Dane H. Madsen
0
0
Dane H. Madsen Entrepreneur • Advisor
CEO, SVP Business Development | Domestic & International, Product Marketing | Open to new connections
The second company in a space leverages their marketing budget by 2 x - theirs and the first mover that has to market like crazy to get any attention. Let them figure out how to explain the space or product, then you just talk louder.
David C. MSE
0
0
David C. MSE Entrepreneur
CEO at Business Development
Ismail-Do you have the study? What industries, types of businesses, # of companies in the study? Stats have value when background on them is provided as well.
Join FounderDating to participate in the discussion
Nothing gets posted to LinkedIn and your information will not be shared.

Just a few more details please.

DO: Start a discussion, share a resource, or ask a question related to entrepreneurship.
DON'T: Post about prohibited topics such as recruiting, cofounder wanted, check out my product
or feedback on the FD site (you can send this to us directly info@founderdating.com).
See the Community Code of Conduct for more details.

Title

Give your question or discussion topic a great title, make it catchy and succinct.

Details

Make sure what you're about to say is specific and relevant - you'll get better responses.

Topics

Tag your discussion so you get more relevant responses.

Question goes here

1,300 Followers

  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
Know someone who should answer this question? Enter their email below
Stay current and follow these discussion topics?