Fast follower 💨🏃♂️💡
Meaning
A person or company that quickly imitates and improves upon the innovations or success of another.
Origin
The concept of the 'fast follower' emerged from observations in the tech industry, particularly in markets where rapid imitation and iteration were key to survival and dominance. Think of early mobile phone manufacturers or software companies; the first to market often bore the brunt of R&D costs and faced early bugs. But the company that came shortly after, with significant resources and a sharp eye for what worked and what didn't, could leapfrog the initial challenges and capture a larger market share. It wasn't about being first, but about being smart and swift enough to capitalize on the pioneer's groundwork, turning a novel idea into a widespread success by simply doing it better and faster.
Fast follower represented with emoji💨🏃♂️💡
This playful arrangement of symbols, 💨🏃♂️💡, functions as a visual riddle, challenging the viewer to decipher the energetic dance of imitation and innovation. It underscores the swift pursuit of an idea, where the initial spark of genius is quickly followed by inspired adaptation, transforming the landscape of what's possible.
Examples
- Samsung has often been accused of being a fast follower, quickly releasing products that rival Apple's innovations.
- As a startup, we can't afford to be the first to market, so we'll aim to be a successful fast follower.
- The early bird gets the worm, but the fast follower gets the slightly-more-efficient worm with better marketing.
- While the initial inventor was a pioneer, the true profit came to the fast follower who added glitter and a tiny hat to the invention.
Frequently asked questions
It's a recognized business strategy, often contrasted with 'first mover advantage', where companies deliberately choose to wait and learn from early adopters before entering a market with an improved offering.
While it can be debated, the 'fast follower' strategy is generally considered legal and ethical business practice, as long as it doesn't involve infringing on patents or intellectual property.
Early Japanese automakers often served as fast followers, observing and improving upon Western automotive designs before dominating global markets. Similarly, many social media platforms emerged as fast followers to early pioneers like Friendster or MySpace.
Not necessarily, as a fast follower often relies on innovation itself, but rather than pioneering a new concept, they innovate by improving existing ones based on market feedback and technological advancements.