If you have a product or service that people genuinely value and the operational capacity to supply and distribute it, there’s only one thing that can stand in the way of your business goals: competition. In a hyper-competitive business environment, your business may struggle to achieve visibility — or you may hemorrhage customers to other brands in your space.
How can you make sure your business can thrive in such a hostile field?
Beat the Rush
One option is to “beat the rush” by establishing your business in an industry or niche before your competitors have a chance to threaten your market footprint. This is known as the first-mover advantage, and there are many historical examples of companies that have benefited tremendously from this strategy.
