Startups: Advantage or Fast Follower Strategy?
Mark Lemuel M
9 replies
This contrasts entering the market early to capture market share and establish a brand (first-mover) versus waiting for market trends to develop and learning from the successes and mistakes of early entrants (fast follower).
which will win in the long run?
Replies
Ariel Benson@ariel_benson
Fast followers tend to refine and innovate better. They don’t have to spend time educating the market!
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Marc Zuckerberg will
First-mover if you can, just be aware there's more risk
Advantage strategy. Getting in early lets you set the standard and build brand loyalty before competition heats up.
Depends on the industry, but I'd say first mover if you can scale fast enough. Otherwise, being second might actually pay off.
Both strategies have their advantages: first-movers can capture market share and build strong brand recognition, while fast followers can benefit from the lessons learned by early entrants and avoid their pitfalls. In the long run, success depends on execution-first-movers must continuously innovate to maintain their edge, while fast followers need to adapt quickly and leverage their insights to outperform the pioneers :)
advantage strategy