Instigator Blog - Latest Comments in The Copycat Benefit for Startups

Re: The Copycat Benefit for Startups

Rebecca Laffar-Smith — Wed, 06 Aug 2008 06:09:06 -0000

I think the important thing to remember is that balance breeds the greatest success. So often, the 'first-movers' are focused on the product! They're so tuned into the product and breakthrough that they forget other, vital elements of running a business.

Those who follow up take that initiative but because they're not 'all-product' they've got a broader view and an eye on the consumer market.

If someone with a unique idea kept a tap on every element of the business they'd have far more success.

Re: The Copycat Benefit for Startups

Mehdi Akiki — Sat, 19 Jul 2008 21:52:38 -0000

In my opinion, the best product wins.

Re: The Copycat Benefit for Startups

Kris Washer — Sat, 19 Jul 2008 01:07:28 -0000

It's easy to copy the leader of a good innovation as it lowers your cost to break into a new market.

Re: The Copycat Benefit for Startups

Loic — Tue, 15 Jul 2008 05:50:41 -0000

It's true that "copycats" have the great advantage of choosing better paths to success by avoiding those of "first-movers" that didn't work. It's hard for me to admit this, being in the process of creating a first-mover business, but I guess you have to face the reality in order to do a better job in sustaining a market leadership. It's also true that if you want to be successful in the long-term, you have to keep innovating. That's why I am always writing down new features to add to the business later on. Executing those new features will be another challenge, but that's what makes entrepreneurship so thrilling :-). Once again, great post, Tks!

Re: The Copycat Benefit for Startups

rich — Mon, 14 Jul 2008 20:02:26 -0000

Capitalism guarantees this kind of entrepreneurial exploitation.. though I confess you make a lot of points I hadn't considered regarding "copycats"

Re: The Copycat Benefit for Startups

Petitehye — Fri, 11 Jul 2008 11:39:23 -0000

Hi Ben, you got your point. Sometimes the followers can be more successful than the first movers. However, not in every cases because there are most of the time the first movers never share their secrets.

Re: The Copycat Benefit for Startups

Bonnie — Tue, 08 Jul 2008 13:30:39 -0000

It's nice to have original ideas but copycatting is called free enterprise. Maybe it encourages good competition after all.

Re: The Copycat Benefit for Startups

SalineVance — Mon, 07 Jul 2008 15:00:49 -0000

Ben,

Your article last week on the "Big Bang" generated some great discussion, as this post will likely do, too.

In order to have that "first mover" advantage, you need to really embody the “Ready-Fire-Aim” approach, as I described previously. If an idea or product is so great, then somebody has got to go first, so why not me? If you hit the market first, and then have to update/improve, that's OK. That said, as I also described previously, you risk that consumers will tire of the boy who cried “Wolf!” too often, with all the iterative releases.

As for me? I'd rather be "first-est with the most-est."

Re: The Copycat Benefit for Startups

TigerTom — Mon, 07 Jul 2008 08:21:36 -0000

There's sense in this. It boils down to whether a. There's a demand for the product b. Whether a fat profit can be made from it and c. Whether you can do it a lot better than the originator.