Sit Back and Relax... Michael Keighley, Entrepreneur, United Kingdom, Member Watching another firm enter a market first and not entering yourself can be hard, but by doing this you can see what works and what doesn't. Sometimes a second mover strategy is preferable.
For example if you watch someone open up a bakery in the area you would like to start to work in, and it goes bankrupt in a month, you can see that it would not have been a good idea anyway and feel good that your money is safe.
Of course being first can bring rewards too, but always research your market first to find gaps.
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