3 Ways to Battle Copycats
It’s inevitable. As soon as you come up with a great idea, product or process, someone will copy it and will try making money off of your inspiration. What do you do when a copycat emerges?
Here’s how to fight back:
- Close the gaps. Whatever business or service gaps there are between what you and your competitor offers, close that gap. It’s a way to stay one step ahead of your competition.
- Think like a customer. In everything that you do, think: is this good for my customer. If you are constantly putting your customer first, your customer will remain loyal, even in the face of competitive copycats.
- “Always Improve. Always Advance.” These are core principles at Rakuten. Some people argue that the Xerox Alto was the first personal computer. But Xerox Corp. didn’t improve or advance the product is no longer even in the PC business. Only the companies that continue to innovate and improve will be the winners.
Originality is a great differentiator in the marketplace, but no one can be original forever. In the past, when the world was less connected, an original idea might have bought a company years of uncontested success. Today, the rivals are much closer behind you.
Originality is temporary. Be ready to continue the fight.
Photo: Pascal [https://flic.kr/p/7i7VHs]
Operations Lead at ADVISORS sarl
10 年So true.. no one can be original forever with 50 million new firm births per year Or about 137,000 per day I guess Innovation is the key of success.
Originatily is temporary as he said. “Always Improve. Always Advance" that is the answer.
Head Pricing APAC at UBS Global Wealth Management
10 年"Copying" fuels innovation especially when the copier attempts to out-innovate the copied in the process. The roles are then reversed again and again. This is healthy for the industry and the end consumer.
+30yrs Precision Machined Parts Manufacturing, SCHWANOG LLC. - OEM Account & New Product Development Manager - Let's Connect!!
10 年Agree, we should think like our customer not the copy cat; keeping ahead of our competition with innovation and new technologies. We should have no fear putting our new products on the market even knowing our competitors will copy them; unless patentable, it should be viewed as a complement. If you are the best in the industry good customers will know the difference and purchase your superior product.
"Originality is temporary. Be ready to continue the fight."