A few days back Avneet, Sarthak and I were discussing the challenges new entrants and entrepreneurs face in setting up operations and entering an industry. How many actually succeed in making an impact where many other players already exist?
Sarthak brought to light one important point regarding a statement made by Bill Gates about Google. During the visit of Bill Gates to India in Dec 2005, he was interviewed on one of the Indian TV Channels – NDTV. As the interview progressed, one of the statements that Bill gates made particularly caught our attention. When asked about the challenge Microsoft faces through Google – he said that don’t forget Google was not the first search engine!! Although targeted to down play the Google threat, he inadvertently showed a resounding appreciation of the Search giant. Despite not being the first Search Engines, Google has managed to reach it’s current dominant position and in all likelihood would continue to enjoy their stature for times to come (unless they badly mess up somewhere).
An inspiration to people and entrepreneurs who are not the first movers (and there are many). Higher quality, sound business leadership, excellent company culture and product usability being the main reasons for success, amongst other factors.