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Learning From The Second Best

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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.

Published in: Marketing, Technology, Business
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Learning From The Second Best

  1. 1. Learning FROM THE SECOND BEST By Bill Barlow An expert on innovation
  2. 2. Let’s face it we all love innovation In 1886 Carl Benz patented the first car WE LIKE NEWER, BETTER, FASTER, CHEAPER, EASIER & COOLER
  3. 3. 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
  4. 4. Did you ever wonder Why?
  5. 5. Then it occurred to me IF YOU CAN LEARN HOW TO BE SECOND YOU CAN SUCCEED EVEN IF YOU ARE THE FIRST
  6. 6. 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
  7. 7. 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
  8. 8. 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
  9. 9. What Are You Going To Do?
  10. 10. Here are a few tips
  11. 11. 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
  12. 12. Learning FROM THE SECOND BEST By Bill Barlow bill@billbarlow.com www.FamousDiscoveries.com

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