Watch your competitors
You’re in the same market, on the same road. There’s starting to be light, the market is maturing.
You should always keep an eye on your competitors. They may be ahead of you. They may have experience you don’t have yet. You may be able to avoid uncomfortable, costly or even deadly situations.
But if the car in front of you is breaking before a turn – if a competitor is weary of new developments – it could be a valuable warning or a golden chance to pass!
Obviously, there’s no formula to know what’s the right thing to do. Staying behind the car paving the way in the dark can be quite comfortable. Maybe you don’t need to be first or aren’t even in competition with the car in front of you. So if you take chances, make sure you know what for and that the risk is worth the possible upside… or downside.
Learn from your competitors. Let them pay for r&d. Know your competition and your goals. Many, especially online, markets are winner-takes-all environments. But there are tons of niches as well that you can occupy while learning from others in different niches.