In this episode, we talk about an important question: are their strategic principles that are always true? If so, what about conflicting guidance? As we go, we’ll evaluate whether or not it’s actually better to be the first one to do something. They say the “early bird gets the worm”, but is that actually right? Apple, Nintendo, and Uber are just a few examples we touch on.
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- Roy H Williams – The Wizard of Ads – http://www.rhw.com/
- First mover advantage
- Facebook/My Space
- Dollar shave club/Harry’s
- Bicycle innovation
- Measuring risk against opportunity
- Principles always apply as long as you zoom out far enough. However, the further you zoom out, the harder it is to apply the principle. Harder to teach and harder to learn. Zoom out and see the nuance.
- 80/20 principle
- First mover, Safe Bet (2nd mouse), Late Innovator
- Capture some opportunity in each bucket if you know all three.