Small Biz vs. Start-Up, Fast Follower vs. First Mover
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Many people confuse small businesses with start-ups. Here are a couple of the differences. Also, is is better for a startup to be first to market or a fast follower?
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Small Biz vs. Start-Up, Fast Follower vs. First Mover
- 4. • Not built on a new idea • Established business processes, supply chain networks and regulatory frameworks. • Still 50% failure rate
- 6. • Starts with something new. An acceptable definition of new is a process or product that is 10x better. • They often start with a small market segment that they can dominate.
- 7. • Have to develop business processes, supply chain networks and regulatory frameworks. • Startups need to grow fast.
- 9. First Mover • Have the be the “explainer” • Have to work out all the R&D issues • Are “stuck” with your product design for some period Disadvantages • First To Market. • Can capture market share much more easily without having to worry about rivals • Initial Press Advantages
- 10. Fast Followers are more likely to win
- 11. Fast Follower Advantages • Don’t need to be the First Mover to Innovate. • Know what the market is for the products. • Use your existing place in the Market/existing resources to promote your new product.
- 12. First Mover First to sell the product 47% failure rate Fast Follower Entered early but not first 8% failure rate 1.P. N. Golder and G. J. Tellis. 1993. “Pioneer Advantage: Marketing Logic or Marketing Legend?” Journal of Marketing Research, 30(2):158–170.
- 13. First Mover (FM) or Fast Follower (FF)
- 14. First Mover (FM) or Fast Follower (FF)
- 15. First Mover (FM) or Fast Follower (FF)
- 16. First Mover (FM) or Fast Follower (FF)
- 17. First Mover (FM) or Fast Follower (FF)
- 18. First Mover (FM) or Fast Follower (FF)
- 20. “A word of warning about choosing to start a startup: It sucks!”
Editor's Notes
- Not built on a new idea Established business processes, supply chain networks and regulatory frameworks. Still 50% failure rate
- No re
- What about ipad and tablets What about pebble watch and possible iwatch? . First vs. Best vs. Re-invention. As some folks commented on Steve’s post, most companies are some derivative of something that already existed. But many “fast followers” aren’t really copy-cats as much as they are evolutionary products. Was Facebook really a fast follower of Friendster in the academic sense? I don’t think so. Was Google really a fast follower of Overture? I doubt that the founders of Google said to themselves “wow, what Overture is doing is really working – I’m going to copy them and do it better”. What you do see is that spaces do re-invent themselves rapidly. And the pace of this innovation is happening faster and faster. Incumbents can’t be happy just being first and having an early lead. They have to build an internal culture of innovation that ensures that they remain best for as long as possible.
- What about ipad and tablets What about pebble watch and possible iwatch? . First vs. Best vs. Re-invention. As some folks commented on Steve’s post, most companies are some derivative of something that already existed. But many “fast followers” aren’t really copy-cats as much as they are evolutionary products. Was Facebook really a fast follower of Friendster in the academic sense? I don’t think so. Was Google really a fast follower of Overture? I doubt that the founders of Google said to themselves “wow, what Overture is doing is really working – I’m going to copy them and do it better”. What you do see is that spaces do re-invent themselves rapidly. And the pace of this innovation is happening faster and faster. Incumbents can’t be happy just being first and having an early lead. They have to build an internal culture of innovation that ensures that they remain best for as long as possible.
- What about ipad and tablets What about pebble watch and possible iwatch? . First vs. Best vs. Re-invention. As some folks commented on Steve’s post, most companies are some derivative of something that already existed. But many “fast followers” aren’t really copy-cats as much as they are evolutionary products. Was Facebook really a fast follower of Friendster in the academic sense? I don’t think so. Was Google really a fast follower of Overture? I doubt that the founders of Google said to themselves “wow, what Overture is doing is really working – I’m going to copy them and do it better”. What you do see is that spaces do re-invent themselves rapidly. And the pace of this innovation is happening faster and faster. Incumbents can’t be happy just being first and having an early lead. They have to build an internal culture of innovation that ensures that they remain best for as long as possible.
- What about ipad and tablets What about pebble watch and possible iwatch? . First vs. Best vs. Re-invention. As some folks commented on Steve’s post, most companies are some derivative of something that already existed. But many “fast followers” aren’t really copy-cats as much as they are evolutionary products. Was Facebook really a fast follower of Friendster in the academic sense? I don’t think so. Was Google really a fast follower of Overture? I doubt that the founders of Google said to themselves “wow, what Overture is doing is really working – I’m going to copy them and do it better”. What you do see is that spaces do re-invent themselves rapidly. And the pace of this innovation is happening faster and faster. Incumbents can’t be happy just being first and having an early lead. They have to build an internal culture of innovation that ensures that they remain best for as long as possible.
- What about ipad and tablets What about pebble watch and possible iwatch? . First vs. Best vs. Re-invention. As some folks commented on Steve’s post, most companies are some derivative of something that already existed. But many “fast followers” aren’t really copy-cats as much as they are evolutionary products. Was Facebook really a fast follower of Friendster in the academic sense? I don’t think so. Was Google really a fast follower of Overture? I doubt that the founders of Google said to themselves “wow, what Overture is doing is really working – I’m going to copy them and do it better”. What you do see is that spaces do re-invent themselves rapidly. And the pace of this innovation is happening faster and faster. Incumbents can’t be happy just being first and having an early lead. They have to build an internal culture of innovation that ensures that they remain best for as long as possible.
- What about ipad and tablets What about pebble watch and possible iwatch? . First vs. Best vs. Re-invention. As some folks commented on Steve’s post, most companies are some derivative of something that already existed. But many “fast followers” aren’t really copy-cats as much as they are evolutionary products. Was Facebook really a fast follower of Friendster in the academic sense? I don’t think so. Was Google really a fast follower of Overture? I doubt that the founders of Google said to themselves “wow, what Overture is doing is really working – I’m going to copy them and do it better”. What you do see is that spaces do re-invent themselves rapidly. And the pace of this innovation is happening faster and faster. Incumbents can’t be happy just being first and having an early lead. They have to build an internal culture of innovation that ensures that they remain best for as long as possible.
- Links for more information. This is excellent.