Imitation is key for a successful startup

I recently was reading an article over at Kiplinger’s about some keys to starting up a business.

While I don’t agree with everything columnist Marty Nemko suggests, one thing he explained resonated with me loud and clear, because it was the mistake I made when I started out.

He said, “ Don’t innovate; replicate. Being a guinea pig is so risky: Your idea or its execution could easily be flawed, or it can be so new that the public isn’t ready for it. Tivo, an unquestionable improvement over the VCR, lost hundreds of millions of dollars in its first five years as it tried to educate the public. You probably don’t have hundreds of millions of dollars and five years to wait for profitability.”

When I began my business, Cherry Communications, five years ago, I did everything from scratch. And after two years, I was failing miserably. People weren’t beating down my door to get my services. As a matter of fact, I was beating on every door I could find, just to present myself.

Someone – a very smart business coach – finally pointed out that perhaps I should stop trying to be clever and new, but start emulating other successful businesses.

But wasn’t that copying? Isn’t that against the rules?

No, she replied. You’ll put your own spin on it – and it will be yours and yours alone.

So I tried it. And it worked!

So the lesson is being new doesn’t necessarily mean you need to reinvent the wheel to be noticed. Find successful practices that work for you and your business and make them your own.