Entrepreneurs In Training | Fail Your Way To A Freedom Lifestyle | Create Online Businesses

Shownotes at www.entrepreneursintraining.net/33-crowded-market Many successful companies were founded via invention or by creating a new market for a product. These first-to-market companies enjoy a first mover advantage. Conversely, many successful companies were founded by exploiting a niche in a crowded market. These fast follower companies enjoy a second mover advantage (or a late mover advantage). I was curious which strategy most often leads to success. In this episode I discuss three first mover advantage examples and three late mover advantage examples (or fast follower advantage)with the help of Howard Schultz, Randy Travis, and a female British voiceover artist of course. First Mover Advantage Examples Velcro was invented by George de Mestral when he studied how burrs stuck so well to his dog and his jacket. Jeff Bezos held most of his meetings in Barnes n' Noble when developing Amazon.com. Mike Ramsay and Jim Barton Founders at Work: Stories of Startups' Early Daysco-founded TiVo. Joshua Parkinson