tortoise beats hare?

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Tortoise Beats Hare? Early adopters vs. late adopters. The reasons, the pros, the cons. panos papadopoulos, february 2012

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Page 1: Tortoise beats hare?

Tortoise Beats Hare?

Early adopters vs. late adopters.

The reasons, the pros, the cons.

panos papadopoulos, february 2012

Page 2: Tortoise beats hare?

In every phase of human civilization, certain people have always embraced innovation faster than others – both technological and cultural.

Page 3: Tortoise beats hare?

Daring individuals would tread new ground, looking to improve their lives by endorsing the new, in every shape and form.

Page 4: Tortoise beats hare?

At the same time, others have resisted every technological and cultural breakthrough. They stubbornly insisted the Earth is flat, and that leeches were the cure for every illness from the common cold to leprosy.

Page 5: Tortoise beats hare?

Today, the same scenario still applies. Some organizations voraciously search for the next big thing. They’re eager to find ways to exploit the newest social platform, racing against time to arrive first at the next digital innovation...

Page 6: Tortoise beats hare?

While others still discuss whether or not “social media is really for them”.

Page 7: Tortoise beats hare?

What accounts for these differences between early and late adopters? Why do some organizations look to the future, ambitiously taking risks, while others appear sluggish and are utterly risk-averse? And what are the consequences?

Page 8: Tortoise beats hare?

Early adopters

Page 9: Tortoise beats hare?

Lean, flexible organizations The leaner an organization is, the more it appears to favor individual initiative, leading to an early adoption of innovative practices.

Early adopters. The reasons.

Page 10: Tortoise beats hare?

Agile decision-making Often, flexible organizations have limber and efficient Command & Control systems promoting swift decision making. These systems can either be centralized, with one person sitting on top of the pyramid, as an omnipotent leader, or decentralized, with each silo or fiefdom enjoying a significant degree of autonomy.

Early adopters. The reasons.

Page 11: Tortoise beats hare?

The Steve Jobs Syndrome Lean organizations often give rise to visionary men-of-action that are prone to embracing cutting-edge solutions.

Early adopters. The reasons.

Page 12: Tortoise beats hare?

Transparency & accountability Lean, flexible organizations that promote individual initiative are, more often than not, also the most transparent ones. Success is rewarded, and failure cannot be hidden under the carpet of infighting or mitigated by general mediocrity.

Early adopters. The reasons.

Page 13: Tortoise beats hare?

The road to Eldorado The successful innovator forges new paths, shapes and exploits them to their benefit. The first to reach Eldorado not only gets to have dibs on untold riches, but can also stake a claim on the territory.

Early adopters. The pros.

Page 14: Tortoise beats hare?

A reputation for coolness The successful innovator is sprinkled with the fairy dust of coolness that can be readily cashable. Of course, innovation needs to remain constant to uphold this reputation.

Early adopters. The pros.

Page 15: Tortoise beats hare?

Petri dish The innovator is everyone’s guinea pig. Middle-of-the-road competitors will wait to see the results of the experiment. If it succeeds, most will follow suit to exploit the formula. Some latecomers may also improve on the pioneers’ recipe. If it fails, competitors will be relieved for not being caught in the fallout.

Early adopters. The cons.

Page 16: Tortoise beats hare?

Terra incognita No matter how calculated a risk is, it is always a risk. And inherent in every risk is the elevated probability of failure. That is why a pioneer is, more often than not, either an inspired visionary or a fearless marauder. Possibly even a combination of the two.

Early adopters. The cons.

Page 17: Tortoise beats hare?

Late adopters

Page 18: Tortoise beats hare?

The dinosaurs Bulky, often overstuffed companies with complex, cumbersome structures tend to favor decision-making inertia.

Late adopters. The reasons.

Page 19: Tortoise beats hare?

Internal power struggles Companies that lack the mechanisms to swiftly resolve inter-departmental strife are often slow in making timely decisions.

Late adopters. The reasons.

Page 20: Tortoise beats hare?

The Everyman syndrome Companies that promote unexceptional, risk-averse John Does in key decision-making positions are habitually slow in embracing innovation. Figureheads in these companies function as custodians of the status quo, even if this is unfavorable for the company.

Late adopters. The reasons.

Page 21: Tortoise beats hare?

Low risk, low losses Operating within the limits of predictability and safety guarantees that unexpected losses will be avoided.

Late adopters. The pros.

Page 22: Tortoise beats hare?

Nobody’s guinea pigs Only pioneers suffer the costs of forging new paths. Those who walk the beaten path, tread safely.

Late adopters. The pros.

Page 23: Tortoise beats hare?

Learning without doing Late adopters have the luxury of learning from the failures of others. And from the successes of those who crossed the innovation threshold before them.

Late adopters. The pros.

Page 24: Tortoise beats hare?

Nil doloris, nil majoris Playing safely has never landed anyone exceptional gains. Only by straying from the ordinary and embracing innovation as early as possible can a company stake a claim to dramatically increased gains.

Late adopters. The cons.

Page 25: Tortoise beats hare?

No booze left for latecomers Late adopters often arrive at a field grazed barren by early adopters. While late adopters may still improve on earlier attempts, in many cases they have to content themselves with leftovers.

Late adopters. The cons.

Page 26: Tortoise beats hare?

Last words. The saved and the damned.

Page 27: Tortoise beats hare?

Early adopters. They were looking for ways to exploit Pinterest, even before it was launched. Late adopters. In 2012, they are still trying to make up their minds whether or not they should get into Facebook.

Page 28: Tortoise beats hare?

Lean, flexible organizations

Agile decision-making

The Steve Jobs syndrome

Transparency & accountability

Early adopters

The reasons

On the road to Eldorado

A reputation for coolness

The pros

The cons Everyone’s

favourite guinea pig

Treading unknown

ground

The roadmap.

Dinosaur-like organizations

Interdepartmental strife

The Everyman syndrome

Late adopters

The reasons

The pros

The cons

Low risk, low losses

Nobody’s guinea pigs

Learning without doing

No pain, no gain

No booze left for latecomers

Page 29: Tortoise beats hare?

Early wins over late. Those marketeers that think and act fast, that jump on the newest social platform before it becomes everyone’s wet dream, are more likely to reap the fruits of success than those that perpetuate last year’s campaign planning.

Page 30: Tortoise beats hare?

In this era of rapid digital innovation, the tortoise will always come a distant second to the hare.

Page 31: Tortoise beats hare?

panos is a planner, always in search of the next

big idea

[email protected]

twitter id: Strategist3171

thanks to kurt beren geiger and to stan gruel for their help