Innovation or market disruption, what’s the right strategy?
Developing truly new stuff is hard and expensive, but it is the land of the entrepreneur. Ask any innovator of new stuff, or ask Pharmaceutical companies, Space agencies, and very high tech companies. Those willing to take the massive risks often have others on their coat tails close chasing, for market disruption. That’s why Patents and Trade infringements are so important to innovation by leading edge companies.
Intel had AMD as a close chaser.
Microsoft had Apple as a close Chaser
Nokia had Samsung had Apple as close chasers.
Big Pharma has other big Pharma as a close chaser in a circle of chasers.
Toshiba Tablets had Apple as a close chaser.
Tumblr had twitter as a close chaser
Friendster had Myspace had Facebook had G+ as a close chaser.
Close Chasers arrive second, but do things brilliantly better. You can do that once, perhaps twice, it’s really hard to be the close chaser of a close chaser of a close chaser. That’s one reason why G+ isn’t taking over (yet) Better, but not brilliantly better.
Anyway back to your market. Who are you close chasing, how are you going to disrupt the market with something that is brilliantly better?