The business that’s first is already one step ahead.
That business instantly becomes the market leader, the pioneer and the innovator.
A small business entering the market is immediately a titan of industry. And maybe it’s just temporary, but the business that’s first often leaves a mark.
In the mid-20th century, the Australian vacuum cleaner company Hoover dominated the industry. Because they were first, the brand name “Hoover” became synonymous with vacuum cleaners in the United Kingdom and in Ireland. And it still is today.
Same story in Germany, where a tissue is often referred to as a Tempo. Or in Brazil, where a razor blade in Portuguese is often called ‘Gilete’.
The business that is second, however, is the underdog. It’s ‘David’ in the classic tale of David vs. Goliath. And that’s not a bad role to play either.
That business is ‘David’ in the classic tale of David vs. Goliath. And that’s not a bad role to play either.
David can learn from the market leaders.
David is flexible and isn’t hung up on established rules and boundaries.
David is more adaptable.
Both David and Goliath have their own competitive advantages. The only thing that doesn’t work is when David becomes Goliath, or Goliath plays the role of David.
In such a case, David is acting like he’s bound by rules and boundaries. And Goliath forgets its size and starts copying those smaller than him.
The role you play in the market will determine how you play the game.
Play it accordingly.
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