These factors can turn first-mover advantages into weaknesses.

They include:

  1. Resolution of technological uncertainty
  2. Resolution of strategic uncertainty
  3. Free-rider effect—others duplicate based on the leader’s success
  4. Complementary assets to exploit core technological expertise

Read up on the first mover advantage too, and for more on defining your market and target customers, check out How to Do Market Research, Market Research Resources for Entrepreneurs, and How to Define Your Target Market.

Bplans GlossaryBplans Glossary

At Bplans, it's our goal to make it easy for you to start and run your business. The Bplans glossary of common business terms will help you learn about key small business and entrepreneurship topics.