For some reason whenever I think up a ‘great’ startup idea I always default to something that’s new and hasn’t been tried. I thought being the First Mover was the way to go. No competitors, right? It’s such an uphill battle, though, especially if you’re a tech first mover in a tech-wary industry. Glass half-full I see it as I was ahead of the times.
There does need to be a balance between timing your product for market entry based on customer problem awareness and oversaturation. If you’re a First Mover, how can you dominate the market and be a household name? If you’re a Fast Follower, what’s your differentiation and how can you convert users who were getting ready to buy your competitor?