“Don’t innovate. Imitate” | Steps to becoming a Rebel Entrepreneur
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Many believe that to be an entrepreneur you have to be someone who creates something new. I, myself even have thought that but it’s really not just that. Entrepreneurs tend to copy other ventures and just enhance it. In other words, innovate it. Innovators are the ones who create new ideas and those successful entrepreneurs that we thought created things need those type of people to plate their path.
“You can’t keep a good idea down”
Many entrepreneurs tend to hold down their ideas because they think other firms are stronger and would just take up all the space in the market especially when it’s saturated but, you shouldn’t fret putting yourself out there in any way would be beneficial. Never drop out at any opportunity you have because the more you utilize the higher chances you have to be heard. Amazon CEO Jeff Bezos loves to expand his market industry in any way he is capable to. When Bezos was first working on having Amazon rent out movies he looked at other ventures like Lovefilms and Video Island and he tried to see what they do. Once he understood all the works of the firm he moved on to make one of his own which later on became the best rental in the market. After the success, he bought the other companies because they weren’t as successful as he was and he used those firms to expand. Think of it as like a game of Agar.io where you are a cell and you eat other small cells to become bigger — that was pretty much what Bezos has done.
“First movers do not necessarily have the advantage”
Never ever think your firm should be on top just because you got the deal or got the idea first. Think of it in a way like I gave you a 100-meter head start in a race but I still beat you. In the internet-based industry and multi-continental industries both fight for consumer demand. Like I repeat the markets are saturated which makes it hard. You have to fight for the spot. The method here is to out-execute your competition. The best execution holds the spot and no one else.
“Imitation can be a salvation of a company”
“A company may not start out copying another person’s business model. But it may just be its salvation to imitate another’s ideas at a later stage.” Earlier I have exclaimed how entrepreneurs don’t innovate they imitate. With your business firm, you need to be able to run and start something and have confidence in it. Just let your venture start then let it take it’s baby steps to move forward. Think of it as having a kid. As the baby grows up you need to let him/her fall. Throughout those mistakes, since the baby has perseverance he/she becomes successful. Now I want you to translate that to a business interpretation and see how it comes out.
Quick Tips:
- Even if you open a company and someone ends up copying you that’s a good thing. Think of it in a way that you have now some sort of competition; with this competition, you can improve your firm. This copycat also is giving you a sign that your product was worth copying because there’s something actually good about it.
- Companies that say they have no competition got to release that it’s not a good sign. One it means that your product hasn’t been heard. The second reason that could happen is that your product is trash.
- If large multinational starts to sell the same thing as you then you have no open opportunities to either give in to a joint venture or a trade sale. This is where your companies play affect differences in its success. One mistake can make a difference and ruin your business.
“Knowledge is power and customers are the lifeblood of any business.”
This quote means that the more you learn the more powerful you get. I always tell other upcoming entrepreneurs and those in business. Knowledge is key and it enhances your strengths. Strengths mean stronger business. Stronger business means great financial status. On the side of that those great finances come from our consumers. Consumers are what keeps our company or organisation going so always return love and respect to your customers.
The Power of Execution
“Execute well and innovate with your model, ‘that’ can extend your lead.” Execution is powerful and we always want to aim for the best. In the stock markets, there are competitions, in the industrial corps. There is competition. Now to be known from this saturated system you need to out-execute other people and bring out a better product for the consumers. Out-execution is the best strategy to get heard in the business system.
What we have learned:
We have learned that are entrepreneurs at the end of the day aren’t inventors. Entrepreneurs are there to imitate other firms and make the better out of it. The successful entrepreneurs are the ones that saw an inspirational project and took it to the next level. For success, out-executing everyone is the key to be heard and to gain higher consumer demands. Out-execution in a way gives an opportunity to make better of something and have a spot in the market. Now copying is good for everyone because we are learning from each other; at the end of the day, we make a better world. At last, the things I want you guys to keep in mind as a rebel entrepreneur this term out-execution, with that in mind you have taken a step forward for success.