11/10/2023 0 Comments Amazon jeff bezosAmazon developed its platform with other products, other sellers, and AWS. Just as Apple and Microsoft and Walmart have used their platforms to sell a variety of products and services and avoid becoming obsolete, did the same. Seek a platform for long-term potential.Īfter getting a foothold on the emerging trend, unicorn-entrepreneurs then build a platform to consolidate their dominance of the emerging trend. But his strategic innovation was that he sold it on the Internet as it was emerging to get an edge over the much larger store-based booksellers like Borders and Barnes & Noble. He sold books-not exactly an innovative product. Unicorn-entrepreneurs who dominate usually imitate the product, or use a product that can be easily imitated, and improve the strategy to dominate the fulcrum of the emerging trend. The reality is that 89% of first movers fail to dominate. The common myth is that successful entrepreneurs are first movers. Focus on strategic innovation, not product innovation.
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