4 ms·
Entrepreneurs often share startup ideas and hear, “Isn’t X doing the same thing?” This is actually the common case as only one company can claim the first-to-ma
by panabee 10y ago
Entrepreneurs often share startup ideas and hear, “Isn’t X doing the same thing?” This is actually the common case as only one company can claim the first-to-market mantle.
It’s natural to feel discouraged or wonder if the window of opportunity passed, but history has proven unequivocally: first-to-market guarantees nothing.
Never abandon an idea because competitors exist. Abandon an idea because it lacks meaningful differentiation, because no one wants it more than the alternatives.
Here are inspiring examples of companies and products that flourished despite entering the market after others:
Facebook > Myspace
Google > Alta Vista
Nike > Converse
iPhone > BlackBerry
Instagram > Hipstamatic
Airbnb > CouchSurfing
WhatsApp > SMSenger
Dropbox > FolderShare
Skype > Net2Phone
Zappos > Shoebuy
Gmail > Hotmail
YouTube > Metacafe
LinkedIn > Ryze
Tumblr > Xanga
Kickstarter > Indiegogo
- debt 10y agoalso "isn't x doing the same thing" is a great thing! it means there's a market for some thing! if there's a market there may also be underserved demand. if that's the case then you can clone an existing business and help increase supply to meet the demand.
- cpayne 10y agoDropbox and Youtube always spring to mind. There were Dropbox solutions for YEARS before they came around. Even Microsoft had one (well before OneDrive) they gave away for free - still, Dropbox came to the top. And Youtube and a bunch of clones. Go back even further: MS Word - Wordperfect Excel - Lotus 123 Just about every dinky database - MS Access
- flukus 10y agoYoutube in particular. I think it was about timing, broadband was just getting to the critical point where even grandma could watch videos. But people were trying to make youtube in the mid 90's.
- BHSPitMonkey 10y agoAirbnb and Couchsurfing aren't the same thing, and it's not really fair to say that Airbnb beat them. They're for different kinds of people and the nature of "service" is different.