How First Mover Advantage Can Kill Your Business

[00:27] Today’s Topic: How First Mover Advantage Can Kill Your Business

[00:50] Coca-Cola is the beverage king. They are the first mover.

[01:11] The first mover advantage helped Coke become the dominant brand.

[01:26] Peter Thiel has a concept that says whoever the first to market is, gets a huge advantage. However, you also end up with a lot of high costs and inefficiency.

[02:17] Last mover advantage is taking what has been done and improving upon it.

[02:31] Being the last in is a huge advantage.

[03:23] Moz was the first marketing tool out there, but other brands that came after have overtaken them.

[03:35] SEMRush and AHREFS are go-to’s and improved upon what Moz does.

[03:58] YouTube did really well at first, because they didn’t have to deal with the lawsuits other sites did.

[04:30] Napster was a great service, but they had to deal with lawsuits and they got destroyed.

[05:18] As tech evolves, it also gets cheaper.

[05:30] When Moz released their financial info, it was found that they spent hundreds of thousands on server costs.

[05:40] This is something you can spend a lot less on now.

[06:09] That’s it for today!

[06:13] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!

How First Mover Advantage Can Kill Your Business | Ep. #674