There are many brands out there that we consider the best in their category such as Google, Amazon, or Gillette. But those brands weren’t the first in their category. In case after case innovative companies (some ahead of their time) ended up in the trash heap of history. That’s a good thing to remember when someone beats you to the market with an idea. In some cases, the first to launch isn’t ready, the product isn’t perfect, or the marketing is poorly executed. In other cases, the rush to get there first made them cut corners or overlook important issues that eventually derailed the company.
Whatever the cause, it’s worth remembering that in so many cases, taking the time to do it right trumps being the first across the finish line. So the next time you feel some anxiety that another organization is breathing down your back, or worry the minute you relax, a competitor will whiz by you, just take a deep breath and calm down.
Speed is good. But your first priority is to make sure whatever project, idea, or product you release is ready to go, and built to last.
Have you ever been involved with a project or product that was rushed to market only to fail?