In this, the first of five installments about myths that surround small business we look at your' competition. The myth- "Just Copy Your Competitors." As with all of the myths I will be looking at, there is a kernel (if not more) of truth to this one.
Surely your competition knows something you don’t know and if they got there first (and managed to stay there) I’d say it really is worth paying attention. But the thing is you CANNOT COPY THEM! Their success is rooted in many things, among which is WHO they are and how they do what THEY do. Looking at it that way it’s pretty clear, you cannot copy them. But you can and you should learn from them, their strengths and weaknesses, wins and losses.
It’s getting harder and harder to come up with truly novel ideas (though it’s not beyond reason) and more than ever distinguishing ourselves, our products, our services is as much about HOW we deliver these things as it is the things themselves. So you see we do need to pay attention to our competitor’s, learn from them and when, if it fits into our purpose and construct, incorporate their winning ways.