Who has more advantage, the first mover or the fast mover?

Question

Judith Amarachi 💙 · Accepted Answer

I agree with you @entreeden 
It's not always about being the first, but being fast enough to spot opportunities and go for them.

Judith Amarachi 💙 · Answer

Not always, @kate_chasten 
There are a lot of first-movers that ended up losing their market shares to fast-movers.

A first mover can remain fast, provided they are up and doing with their strategies, implementation and product iteration.

Kate Chasten · Answer

Isn't the one who moves first is also the one who moves fast?

Eden · Answer

i think fast! most of the biggest companies we know of today (Google, Microsoft, Meta) were not the first but they were definitely fast

Answer

When considering the advantages between the first mover and the fast mover, each has distinct benefits. The first mover often gains a competitive edge by establishing brand presence and market dominance early on. However, the fast mover can quickly adapt and capitalize on emerging trends, sometimes outperforming the initial leader. In the context of long distance moving services being the first to offer innovative solutions can create lasting market leadership, while a fast-moving company might better respond to evolving customer needs and preferences, ensuring they remain relevant and competitive.

Who has more advantage, the first mover or the fast mover?

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