Learning From The Second Best
12
Learning FROM THE SECOND BEST By Bill Barlow An expert on innovation
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How often do great innovators lose their market position to the people that knock them off? This is a study of how we can learn from the second best.
Transcript of Learning From The Second Best
LearningFROM THE SECOND BEST
By Bill Barlow
An expert on innovation
Let’s face it we all love
WE LIKE NEWER, BETTER, FASTER, CHEAPER, EASIER & COOLER
innovation
In 1886 Carl Benz patented the first car
BEING THE FIRST ON THE SCENE CAN BE THE
TOUGHEST PLACE TO LIVE. THE WORLD OF
INNOVATION IS FILLED WITH STORIES ABOUT
INNOVATORS WHO HAVE PAVED THE WAY FOR
Other
People’s
Success
Why?Did you ever wonder
IF YOU CAN LEARN HOW TO BE SECONDYOU CAN SUCCEED EVEN IF
YOU ARE THE FIRST
Then it occurred to me
Why being first is tough
• YOU HAVE TO GET PEOPLE’S ATTENTION
• YOU HAVE TO BLAZE TRAILS AND PAVE ROADS
• YOU HAVE TO SELL A NEW IDEA
THAT HAS NO COMPARISON
• YOU HAVE TO FIGURE OUT A LOT OF
INTERNAL BUSINESS LOGISTICS
• YOU BECOME COMFORTABLE IN YOUR INNOVATION
Why being second is easy
• YOU ARE GIVEN A BLUEPRINT FOR SUCCESS
• YOU ALREADY KNOW THE CUSTOMER
• IT IS EASIER TO BE BETTER BY COMPARISON
• YOU CAN EXPLOIT WHAT MATTER MOST TO CONSUMERS
• YOUR VERSION 1 BEATS THEIR VERSION 2
It’s easier to Follow than Lead
COMPETITORS USE YOUR MARKETING
TO SWAY YOUR CUSTOMERS AWAY
FROM YOUR INNOVATION
BEING SECOND TO THE SPACE
HAS A LOT OF ADVANTAGES
To Do?What Are You Going
Here are
a few
tips
What Would Second Do?
• BUILD ON YOUR SUCCESS. INNOVATION GOT
YOU HERE, USE INNOVATION TO STAY.
• ASK YOUR CUSTOMER WHAT THEY WANT
• SEE YOURSELF AS OTHERS SEE YOU
• GIVE YOUR CUSTOMERS WHAT THEY WANT MOST
• DON’T FORGET TO LAUNCH VERSION 2
Stay in for
