First to Market, First to Fail? Real Causes of Enduring Market Leadership

Managers and entrepreneurs frequently adhere to the Motto of being the first to market. But the authors have discovered that many pioneers fail, while most current leaders are not pioneers. Using a historical method, the authors try to determine why pioneers fail and early leaders succeed. They have found that market leaders embody five factors critical to success: vision, persistence, commitment, innovation, and asset leverage.