First Mover (Dis)Advantage

Too many entrepreneurs cite being first to market as a competitive advantage.

Consider this list of companies: Microsoft, Apple, Google, Facebook, Ford, Toyota.

None of them were first in their respective categories, but fast followers.

Truly being first to market is not an unfair advantage, but an unfair disadvantage.

Not only do you have to build a great product,

but you also have to build a great market for your product.

Stumbling on either creates an opening for a fast follower to steal your lead.