These factors can turn first-mover advantages into weaknesses.
They include:
- Resolution of technological uncertainty
- Resolution of strategic uncertainty
- Free-rider effect—others duplicate based on the leader’s success
- 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.