First-mover advantage is a myth

Great companies are usually not the first to market.
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First movers might set the standard.
They might capture early adopters.
But they also stick their necks out,
and learn the hard lessons.
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These lessons pave the way for followers to innovate more cost-effectively.
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Consider this:
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→ Ford’s Model T wasn’t the first car. The Benz Patent Motorcar was.
→ Miller Lite wasn’t the first low-calorie beer. Gablinger’s was.
→ Amazon wasn’t the first to sell books on the internet.
→ Microsoft’s Internet Explorer and Google dethroned Netscape.
→ The iPod wasn’t the first digital music player. The MPMan was.
→ Netflix wasn’t the first video rental service. Insert Blockbuster.
→ Facebook followed Friendster and Myspace.
→ The iPhone wasn’t the first smartphone.
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Fast followers learn from others’ mistakes.
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You don’t need to be first.
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You need to be better.