Why Innovation Gives First Movers the Advantage

There has always been a compelling desire to be first. We shower praise and adulation upon gold medalists at the Olympics, even when the difference between them and the person who took silver could only be a fraction of a second. In the movie “Talladega Nights”, NASCAR driver Ricky Bobby’s mantra is “If you’re not first, you’re last.”

In business, innovation is often described as a race. The finish line is not simply launching a new idea, but reshaping markets, creating new demand and sustaining competitive advantage. The runners in this race — the entrepreneurs, teams and organizations — face a pivotal choice: move first or move later.

While fast followers sometimes reap rewards, the arc of innovation increasingly bends toward those who move first. First movers — individuals and companies who act quickly on emerging opportunities — are uniquely positioned to set the terms of competition, capture disproportionate mindshare and establish ecosystems that others must navigate.