Early movers often lose the plot when they begin to make ill-informed _____________ between scale and customer satisfaction (often by sacrificing customer satisfaction for scale) or revenue growth and profitability (sometimes sacrificing profitability for growth – and sometimes viceversa). _____________ early mover advantage can be built only if there is a deep knowledge of customer and business/domain trends. Winners use this knowledge and insight _____________ the kind of thrusts a new entrant could make to snatch market share and constantly strengthen their armour at precisely these spots. At times, this could involve proactively investing in technology and analytics, and _____________ it could be about opening a new line of business or service. A late entrant with deeper pockets can try and imitate, and even better your strategy. So, think about what you are doing that someone with access to funds cannot easily imitate. What is positively difficult to imitate is the culture. What is also positively difficult to imitate is IP. And, in a complex business that is not necessarily IP driven, the quality of execution is equally difficult to imitate.