If You're Not First, You're Last — The Importance of First

The Importance of First

Although the concept of first or last may sound unfair and difficult to accept for some, in the real world—regardless of your business or career—first place is the only place that matters. It’s a position that allows you to weather all storms, gets you extra attention, and has the competition chasing you— rather than the other way around. But let’s face it: if you didn’t compromise on any point, you would certainly rather the position of first than any other, right? Given the choice between first and any other position, we all know what’s preferable.

Unlike systems or cultures where everyone gets rewarded for just participating and regardless of their efforts, abilities, or even the score—the only position that ultimately makes sense in business—and the one that earns the greatest rewards—is, of course, first. If you aren’t in the dominant position in your market, then you are at risk. When economies are abound with business, the company in first position continues to gain customers and expand its size and presence while the weaker players eke out increasingly smaller gains, helped along solely by the rich nature of the market. However, when these profitable times wane, the dominant company benefits from its first-place position and grabs market share away from all the other contenders while those in every other position pay the price.

Merriam-Webster’s defines the word first as “preceding all others in time, order, or importance.” Being first to the market is not as important as being number one in your category; you don’t necessarily have to be the company introducing a product to be the best choice in the buyer’s mind. Order and importance are much more vital here than time. There is also a big difference between being first and third in Google search results, as evidenced by companies like first-place Intel and second-place Advanced Micro. As of December 2009, Intel had earned $32.7 billion in revenue and had $13 billion in cash, whereas Advanced Micro had $4.92 billion in revenues and $2.5 billion in cash. And consider the competition between Barack Obama and

John McCain. Only a few points separated a name that has made history.

Again, Barack was not first to the market; he actually came 30 years after his opponent and had much less experience. Yet he managed to win not just the number one spot, but the most powerful position in the world.

So quit compromising and being “reasonable.” Let’s get you fighting— every minute of every day—for the number one spot in your business. You want to be on top when the market is great and take market share when it is not.