Facing a highly competitve environment, companies usually manipulate all kinds of strategies to succeed in their business. One of these manipulative strategies is the timing of entering the market. For the most past, studies on timing of entry have asserted that early entrants could help to build lasting competitive advantages, which is so called the ¡§first-mover advantages.¡¨ However, in recent studies, studies have proved that some late movers could also perform quite well, or even better than those early movers in the market. In this paper, we focus exclusively on those successful late movers and try to figure out how they win a victory over the first mover in the market. We also adopt both the RBV and social capital theory to interpret the process of building late-mover advantages and forming first-mover disadvantages. The paper utilizes the case of TFT-LCD industry and the wholesaling industry in Taiwan to illustrate the issues involved. After interviewing some top managers and analyze related data, we get five discoveries: (1)The resources and social capital of a company do affect its enrty timing. (2)Different industries would have different kind of key resources and social capitals, and the reason for late-movers to beat first-movers and to win in the last is because late-movers could allot its own resources more effectively. (3)Late-mover advantages and first-mover disadvantages are proved to exist in the market. Besides, the content of different industries and companies would be different, too. (4)"High uncertainty of the market¡¨ is the challenge that first-movers are sure to encounter, but what counts is that whether the first-mover could conquer this problem by using its own resources successfully or not. (5)The relationship of resources and (dis)advantages are not only one way direction. Companies¡¦ resources would affect its own (dis)advantages, and on the other hand, (dis)advantages would also turn back to affect the forming of its own resources.