Vigilante
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There is no standard answer to this hypothetical. In fact, the opposite is likely FACT. It's not IF, it is when. There literally is no way to prevent that from happening. It's also a traditional slow lane cause of analysis paralysis and inaction. It's a question that is cemented in fear from people that have never built (or sold) a successful business before. The answer is --- there's no way to prevent it.
So what.
Wal-Mart wasn't the first discount store in the world. Sam Walton just copied K-Mart and made it better.
Debbie Fields didn't invent the chocolate chip cookie. She just made it better.
Best Buy was much smaller than Circuit City in the 1970's and into the early 1980's. Best Buy figured out how to adapt to changing market conditions and Circuit City died.
The concept you are working on is likely not original either. It's likely a derivative of an existing product. No matter.
That's not a reason to not start. Build a business worth expanding, or selling.
This is an exercise that akin to mental masturbation you hear about often on the forum. "What if my idea is so awesome that a huge company copies me?" Don't flatter yourself. This is usually a question asked by or of people that haven't sold the first dollars worth yet.
For the entrepreneurial group that I consider my mastermind (of 10-12 people, mostly from the forum) do you know how much time they spend worrying about this, per day? As a group, or individuals? I can answer for all of them. Exactly... zero.
You could be so blessed as to be a competitor to a large company that thinks you are so brilliant they want to replicate your success. Because... by definition by that point... you'd be a success.
I'm obsessed with providing something my customers would want. Winners focus on winning. Losers focus on winners. You don't have the large companies sitting around in their offices waiting for ideas to poach. Moreso, it's likely you're not the first with your idea. If you are, you're off to the races and by the time anyone gives a shit you already have appreciable revenue.
It's a straw man circle jerk that can keep you worried and give you a reason not to start. I have about 15 better reasons not to start a business than that if you're looking for one.
If someone asked me "what if Bank of America decided to copy you" my response is... "you should invest then, because we might as well sell this to Bank of America."
Stop worrying. Stop ringing your hands. Stop talking to people who have never built a business before --- because people who have --- would never ask you that question.
You cross bridges as you need to. If you become the GoPro of your business, you really don't need to be concerned that Sony has motion cameras also. People still want what you have to offer.
Don't borrow trouble. Don't spend time in these circular firing squads with no answer. It doesn't matter. Before you're worried that your idea is so awesome some big company is going to try and rip you off... earn your first $1 from a stranger who is willing to pay you for what ever value you cast out there. Then your second dollar. Than $100 dollars. Than a thousand.
You won't have time to sit and worry that you're so brilliant that McDonalds wants to copy your concept. By the time they even care, you'll already be in business and you'll be able to answer your own question at that point.
Lets go back to the basics. You haven't earned a dollar with the product yet. It's too soon to pick out your lambo color, and too soon to worry about how to protect your non-revenue generating idea from being scaled by someone else.
So what.
Wal-Mart wasn't the first discount store in the world. Sam Walton just copied K-Mart and made it better.
Debbie Fields didn't invent the chocolate chip cookie. She just made it better.
Best Buy was much smaller than Circuit City in the 1970's and into the early 1980's. Best Buy figured out how to adapt to changing market conditions and Circuit City died.
The concept you are working on is likely not original either. It's likely a derivative of an existing product. No matter.
That's not a reason to not start. Build a business worth expanding, or selling.
This is an exercise that akin to mental masturbation you hear about often on the forum. "What if my idea is so awesome that a huge company copies me?" Don't flatter yourself. This is usually a question asked by or of people that haven't sold the first dollars worth yet.
For the entrepreneurial group that I consider my mastermind (of 10-12 people, mostly from the forum) do you know how much time they spend worrying about this, per day? As a group, or individuals? I can answer for all of them. Exactly... zero.
You could be so blessed as to be a competitor to a large company that thinks you are so brilliant they want to replicate your success. Because... by definition by that point... you'd be a success.
I'm obsessed with providing something my customers would want. Winners focus on winning. Losers focus on winners. You don't have the large companies sitting around in their offices waiting for ideas to poach. Moreso, it's likely you're not the first with your idea. If you are, you're off to the races and by the time anyone gives a shit you already have appreciable revenue.
It's a straw man circle jerk that can keep you worried and give you a reason not to start. I have about 15 better reasons not to start a business than that if you're looking for one.
If someone asked me "what if Bank of America decided to copy you" my response is... "you should invest then, because we might as well sell this to Bank of America."
Stop worrying. Stop ringing your hands. Stop talking to people who have never built a business before --- because people who have --- would never ask you that question.
You cross bridges as you need to. If you become the GoPro of your business, you really don't need to be concerned that Sony has motion cameras also. People still want what you have to offer.
Don't borrow trouble. Don't spend time in these circular firing squads with no answer. It doesn't matter. Before you're worried that your idea is so awesome some big company is going to try and rip you off... earn your first $1 from a stranger who is willing to pay you for what ever value you cast out there. Then your second dollar. Than $100 dollars. Than a thousand.
You won't have time to sit and worry that you're so brilliant that McDonalds wants to copy your concept. By the time they even care, you'll already be in business and you'll be able to answer your own question at that point.
Lets go back to the basics. You haven't earned a dollar with the product yet. It's too soon to pick out your lambo color, and too soon to worry about how to protect your non-revenue generating idea from being scaled by someone else.
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