Some of the easiest business case studies to get into right now are those which entail online enterprise and this has perhaps been the case for quite some time now. It’s even more so the case right now though because of the natural evolution of the growing inclusiveness of online business operation. I mean back just a couple of decades ago, you would have had to hire an army of web developers to create the simplest of websites for you, but these days there are out-the-box solutions for complete e-commerce businesses.
The barriers to entry have been brought right down to making a comparatively small investment in somewhat of a “starter” solution which you can then pay up as you go along in line with the added features that you’ll be integrating as the business grows, while supplier sources are becoming less and less of a secret.
Together with the fact that most pioneering businesses of the past go on to get outdone by a new player in the market, who manages to gain more traction, would ordinarily discourage anyone from wanting to be part of a pioneering business, as every indication points away from being first to market making for the advantage it once did.
However, for those businesses which have survived the common pitfalls that come with being pioneers, there are so many advantages to enjoy.
I think I should continue with the e-commerce example I started with, simply because there are just so many epitomes to highlight in driving the point home about the advantages held by pioneering businesses, especially since the best of these online shopping platforms can be cloned within a matter of hours by a team of talented and dedicated developers. So with e-commerce the advantage of having established business relationships early on really helps in that these relationships are often solidified by the time new players want to come into the market.
Try opening up your own smoking accessories online store for example to compete with the likes of Grasscity United Kingdom. Or over in the United States, try competing with the likes of digital products leading vendor, ClickBank.
You’d be fighting a losing battle because there is no way the key suppliers, partners and distributors aligned with those businesses would risk the relationship they’ve built up between them by partnering up with you as a new player and affording you the same favourable deals they extend to these long-time partners of theirs!
Brand loyalty and trust, and market synonymy
Another advantage pioneering businesses enjoy is that of the synonymy which comes with their being first to market. For example, how many people refer to their bongs as their “Grasscity,” making reference to the brand name of the world’s first online smoking accessories store – Grasscity? That’s what being a pioneer comes with – you essentially become the product you’re selling as a brand.
Naturally this leads to brand loyalty as well since the pioneering brand has more time to establish its name in the market, no doubt having to deal with the challenges that come with being the pioneers they are.