Art Jacoby's Monthly Newsletters
Newsletter Library - October 2007
Monday Morning Quarterback
In the mid 1970s, Apple Computer wowed the business world with the first commercially successful microcomputer. The party was short lived, however, as IBM— which had both significant existing relationships with corporate IT departments and deep pockets—quickly wrested the title from Apple’s hands.
First movers have advantages:
- Establishing themselves as the experts
- Utilizing their singular status to uniquely position themselves
- Attracting early adopters, who purchase quickly with no comparison shopping
- Achieving the title of “first mover,” which never goes away
In many cases, though, second or third movers have even more advantages:
- Capitalizing on the mistakes that pioneers inevitably make
- Offering a superior product, service, or solution
- Refining the target market
- Selling against the pioneer (“they had a really good idea, but we’ve taken it to the next level…”)
- Appealing to the much larger group of “early majority” rather than to “early adopters”
The lessons from this comparison go beyond product introduction. Think about any number of initiatives in your business where adoption is critical to success. Pilot programs allow you to test concepts thoroughly and get the processes right before spending heavily.
Sometimes it pays to be a Monday morning quarterback!
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