The fast follower fallacy costs more than first-mover risk

Microsoft Office represents the lone success story in a strategy that fails far more than it succeeds. Fast following requires the same market insight as leading but without first-mover advantages like customer loyalty and switching costs. Two lawn mower manufacturers each copied what they thought was the other's innovation, only to discover they had both adopted opposite approaches. The strategy appeals to CFOs seeking lower R&D costs but typically results in competing against evolved products while customers have already committed to the original. Companies claiming fast follower status usually lack the rapid execution capabilities the approach demands, making it a costly form of procrastination rather than strategic positioning.