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Why You Need to Pray That People are Stealing Your Ideas

Any founder worth their salt — who has grown their company to any significant scale and experienced any semblance of success — will tell you that one of the leading indicators that their startup has got any chance of success was the day they realized they had copycats.

What is true for Startups is true for every element of your life

Welcome them like a sibling replicating your style

They might resemble you but they will never be you

It’s a veiled confession of superiority which acknowledges their own inability to innovate

But there is a key element of that which people never realize of misunderstanding: as critical to the development of any product is the learning that went into its development. The failures you overcame, the reasons for the specific choices that were made that led to the product or service you offer today.

It’s the equivalent of getting marks for your working in a Mathematics examinations

While you have the working and the answer, the startup ripping your idea off only has the answer and understands nothing about the question or the struggle to get there

You must relentlessly stick to your mission and not get distracted

Even if you both start out from the same place, the likelihood of you reaching the same end point is unlikely

But make no mistake about it, competition is an existential threat

When you have those replicating your efforts you know what you are producing is resonating with a wider audience.

Double down and get back to it

If you have existing users/customers renew every focus on over over-delivering at every opportunity

Start talking to them more; you should have more users to interview if you are the incumbent which is a massive advantage.

Understand your advantages and use them

Whatever it is — work to your strengths, understand your weaknesses and exploit theirs

But never forget competition can win

Competitors should eradicate any and all complacency

But the pond will be expanded

You may start out as the big fish in an increasingly large pond, but to stay at the top of the food chain, your need to continue to offer the best service/product.

The adage that a new company must be 10x better in order to win new customers might be true when a company is an established brand, but at the early stages you have no moat to protect you

Continuously wow your customers and they will remain

Relentlessly innovate

It would be a mistake to panic and over commit resources to watch them

It would be equally as large a mistake to ignore them completely

“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.” ― Sun Tzu, The Art of War

That is the nature of entrepreneurship

Embrace those who copy your work

Thank them for the motivation and put it to work

If you can’t handle the fight don’t put on the gloves

If you are it’s time to start swinging

Written by

CEO / Founder / Coach @FirstbaseHQ Empowering people to work in their lives not live at work ✌️✌

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