Be There Fast, Be There First, and You Win. WRONG.

©2024 Laurel Delaney.  All rights reserved.

From thought leader Jim Collins:  "I recently [2000] met with the CEO of a hot Internet company who described his concept for competing on the Web: “It’s a big land rush,” he explained. “It’s all about being the first to build critical mass and create a brand name.” Then, in a bizarre twist, he admitted that his company’s Web site didn’t work all that well and that customers might be disappointed by their early experiences. “But it doesn’t matter,” he said. “The whole game is to stake out your territory.” His strategy hinged on one simplistic idea: be there fast, be there first, and you win."  

When Jim asked to explain what would protect his company from the inevitable assault by huge companies with deep pockets and vast preexisting customer sets, he said: “Inertia! Our competitive advantage is their inertia. By the time they wake up, the game will be over, and we will have won.”

WRONG.

Jim states:  "It doesn’t really matter who gets there first, so long as you figure out a way to produce a better solution, doggedly persist in bringing that solution to the world, and continually improve. And if you happen to have the misfortune of being first, of being the early leader in market share, then keep in mind that someone—right now—is learning from your mistakes."

Read the full article here for context and understanding.