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Small Biz vs. Start-Up, Fast Follower vs. First Mover

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Many people confuse small businesses with start-ups. Here are a couple of the differences. Also, is is better for a startup to be first to market or a fast follower?

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Small Biz vs. Start-Up, Fast Follower vs. First Mover

  1. 1. • Not built on a new idea • Established business processes, supply chain networks and regulatory frameworks. • Still 50% failure rate
  2. 2. • Starts with something new. An acceptable definition of new is a process or product that is 10x better. • They often start with a small market segment that they can dominate.
  3. 3. • Have to develop business processes, supply chain networks and regulatory frameworks. • Startups need to grow fast.
  4. 4. Startups are often First Movers
  5. 5. First Mover • Have the be the “explainer” • Have to work out all the R&D issues • Are “stuck” with your product design for some period Disadvantages • First To Market. • Can capture market share much more easily without having to worry about rivals • Initial Press Advantages
  6. 6. Fast Followers are more likely to win
  7. 7. Fast Follower Advantages • Don’t need to be the First Mover to Innovate. • Know what the market is for the products. • Use your existing place in the Market/existing resources to promote your new product.
  8. 8. First Mover First to sell the product 47% failure rate Fast Follower Entered early but not first 8% failure rate 1.P. N. Golder and G. J. Tellis. 1993. “Pioneer Advantage: Marketing Logic or Marketing Legend?” Journal of Marketing Research, 30(2):158–170.
  9. 9. First Mover (FM) or Fast Follower (FF)
  10. 10. First Mover (FM) or Fast Follower (FF)
  11. 11. First Mover (FM) or Fast Follower (FF)
  12. 12. First Mover (FM) or Fast Follower (FF)
  13. 13. First Mover (FM) or Fast Follower (FF)
  14. 14. First Mover (FM) or Fast Follower (FF)
  15. 15. “A word of warning about choosing to start a startup: It sucks!”

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