What are the possible benefits of being a late mover?

1. Increased Learning: As a late mover, you can take advantage of learning from the mistakes and successes of other companies who may have moved first. This gives you the opportunity to implement best practices and refine processes to maximize your competitive advantage. 2. Ability to Analyze: By being a late mover, you can thoroughly analyze the competition, their strategies, and the market in order to develop a purposeful and best-suited entry strategy. 3. Better Brand Management: As a latecomer to the game, you can take advantage of marketing and positioning opportunities to stand out from the competition, as well as existing iconic brands, through well thought-out campaigns and strategies. 4. Tap into undiscovered potential: Being a late entrant allows you to benefit from new discoveries in technology, markets and processes, in addition to unrecognized opportunities. This kind of flexibility gives you the chance to tap into untapped resources. 5. Lower Risks: The cost of entering the market is much lower for the late mover compared to the early innovators. Therefore, the risk for financial losses is significantly lowered and you will be able to make well-informed decisions.