Have you ever wondered how the “big guys”
in the business seem to have it while
all the other people that follow them seem
to struggle like crazy?
Well, today’s tip sheet is about something
critical called First Mover Advantage.
This is a phenomena where the person that
brings an idea to market first, usually
becomes the market leader just because that
is the only product in the customer’s mind
when they have that particular problem.
It becomes a household word.
However, there is an important and exciting
twist to this as well.
…something that you can benefit from too!
The First Mover, many times is not the INVENTOR.
Meaning that you do not have to be original,
you just have to improve something about 10%
Now, I have talked about the 10% rule in the
past, but it’s really critical.
Just look at the success of the IPOD. MP3 players
had been around for years before that came out.
They didn’t invent anything.
The thing that Apple did that was “first mover”
is that they turned a piece of electronics into
jewelry, or a fashion accessory.
You can’t just wear any old rinky-dink MP3
player around your neck… it has to be an IPOD
or you look like an idiot… says the market.
This happens every day.
It only takes a 10% change in a product or
business model, or way of thinking to take your
business from kitchen table to Taj Mahal.
It doesn’t matter what you sell or do.
If you are chasing an industry, to catch up
with the big guys, you will never get there.
You have to take the fork in the road less
traveled. (Thoureau right? I can’t remember)
You need to get off your can and put your
business under a microscope for a few minutes.
What can you do that will turn your industry
on it’s head?
What tiny thing can you tweak RIGHT NOW, that
will make the “big guys” so jealous that they
will want to follow you?
One things you can do is to use the power of
the mastermind networking group.
A mastermind networking group can bring out
more amazing ideas for your business in 4 hours
than you could do on your own in 50 years.
If you want to know more about mastermind
networking, check out the Underdog Millionaire’s
Guide to Networking at: http://www.how-to-business-network.com
Did that help?
Let me know if you come up with any crazy ideas.
I would love to share them with the team.
(don’t worry, I won’t divulge any trade secrets)
Until tomorrow,
Joshua Black
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Copyright 2009, Outer Limit Productions LLC.
All rights reserved.
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