Does Being The Late Entrant Stop You From Winning?

“Someone else is doing it already”, this is one of the biggest fear a lot of people have just when they are set to start a business in an already saturated market. Your main focus is your customers and the value you have to offer.

Asides from this, there are other fears such as not knowing where to start, feeling inexperienced, the fear of risks and not finding funding. We should begin to see joining an already existing industry as a big advantage. It is not always a con.

All of the business markets have not been reached just yet. This is why you need to segment your target market. The sky is big enough. When you do it rightly, your business can be positioned as the biggest competitor in the industry.

Late entry in business gives you the ability to create a lasting advantage. Work on the weak points of your competitors and add all of your new and valuable inputs for your target customers.

Holding back affords you the opportunity to study the market and realize the advantages in the market, what moves the market, what policies can make and break the market or might have.

Being the first means risk-taking but being the latest entrant also stops you from being the industry’s ‘scapegoat’. You shouldn’t be afraid to compete, go in there and win it. See late coming as winning, not a stifling point.

For every product and service, we want to hear the reviews. We want to know what is working and what is not, what failed and what are the pain points. Also, if someone else could do it, what should they do better?

As the late entrant, you are at an advantage. 

This is because: 

• You spend less money on market education and customer acquisition. 

• You have the opportunity to sell a better product. 

• Your business/startup has the position to disrupt the market, cause a change and switch.

So, what are you waiting for? What if your fear of failure is holding your success back?

Go out there and launch. Cause a market shift!

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