Found this article to be very useful when trying to figure out the age old question: Is first to market always best? We've all seen examples of products that came out before the public was ready for them. Then competing entrepreneurs were able to learn from their mistakes, and launch at a "better" time. Is it all luck?
From the Business Week article: "New academic research suggests one way entrepreneurs can evaluate whether they should enter a market first or wait on the sidelines. The decision depends on how hostile the learning environment is; that is, how much entrepreneurs can learn by observing other players before they launch compared to what they learn from participating after they enter, according to Moren Levesque, an entrepreneurship researcher at the University of Waterloo."
Read more here: http://www.businessweek.com/smallbiz/content/may2009/sb20090519_306313.htm?chan=smallbiz_smallbiz+index+page_getting+started
Thursday, July 9, 2009
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