Tony DeMeo

Second to market

Many entrepreneurs want to be first to market. They figure if they can be the first to market, they will have a huge advantage.

The problem is being first to marketing usually means having to create the marketing, which means educating the market on the reason to purchase. More times than not, the first to market creates a niche market because of the time and money needed to go bigger.

The group that gets there second to market usually allows for them to go after the mass market.

An example would be in the computer tablet market. People think Apple was first to market with the iPad but there were many who were before them. Apple learned from the mistakes of others to come out with their tablet that took over the market.

Even though Tesla wasn’t the first electric car, they have taken on the role of first to market for this industry.
They have made electric cars viable, cool and in demand. Their biggest problem is having some of these other automobile companies, who have a lot more experience manufacturing vehicles, come in after Tesla has done a lot of the heavy lifting and potentially take over the market.

When looking at opportunities that are out there, don’t get too caught up on first to market, think of the bigger possibilities that might be out there.

Have a great day!