There is no first mover advantage in the real world
“In a classic study, marketing researchers Peter Golder and Gerard
Tellis compared the success of companies that were either pioneers or settlers.
The pioneers were first movers: the initial company to develop or sell a
product. The settlers were slower to launch, waiting until the pioneers had
created a market before entering it. When Golder and Tellis analyzed hundreds
of brands in three dozen different product categories, they found a staggering
difference in failure rates: 47 percent for pioneers, compared with just 8
percent for settlers. Pioneers were about six times more likely to fail than
settlers. Even when the pioneers did survive, they only captured an average of
10 percent of the market, compared with 28 percent for settlers.”
― Adam M. Grant, Originals: How Nonconformists Move the World
― Adam M. Grant, Originals: How Nonconformists Move the World
I don't totally agree with Adam Grant on this, i think there is a big advantage in creating a new market and being associated with the new market. like Xerox was associated with copies. If you enter the mind of the prospect before the competition you have that spot. That is an advantage forever
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