Why Invent When You Can Reverse (Engineer That Is...)?

In an age when new technology erupts into the marketplace daily, finding a niche in business has never been easier. Looking back now, you could have been the first surgeon to broadcast a complex procedure. Maybe you could have been the first college professor to podcast lectures to students. Or maybe you could have been the first artist to set up a personal blog to sell artwork. Many people think of these “could have’s” and chalk them up as missed opportunities. But this is just a defeatist attitude.

Sure, people always say a first-mover advantage gives you a great lead time and you can price your product or service any way you want. But what if you’re a second-mover? Think of all of the “me too” businesses that have spawned into global successes. Big guys such as Microsoft, Apple, and Dell were not the originators of the products they sold. They capitalized on the mistakes of others, learned from them, and created a bigger and better product. Sometimes that’s all you need to do.

Apple’s iPod is one of the best examples in my mind. They looked at Compaq’s first hard-drive-based MP3 player in 1998, and saw how they could improve upon it. After three years of thinking about what Apple could bring to the table, the company spawned its own MP3 player. Apple’s name was already synonymous with user-friendly technology so they simply applied what they did best to Compaq’s design. The interface on the iPod and the free software, iTunes, which was released with the product, were raved about because of their ease-of-use and compatibility. And now they’ve sold almost 30 million iPods based on an idea that wasn’t even theirs to begin with! Crazy, right?

Crazy Like a Fox!

The lesson you can learn from these big companies is that anybody can steal a good idea. Especially if it’s a good idea that’s not protected by intellectual property laws! It gets a little sticky when you’re actually taking a product idea and trying to re-sell it. But if it’s a marketing idea or a sales technique that you’re oh-so-envious of, then it’s a whole new ballgame.

For example, one of the latest things in advertising for the service industry is blogging. Professionals have capitalized on the blog movement to establish expertise in their fields. Business coaches, lawyers, and consultants who write articles for newsletters and online publications are starting to post in blogs as well. This is a great marketing tool for professionals to stand out as they are giving their businesses a personal touch instead of trying to sell the benefits of their service through traditional media.

Don’t Steal, Improve!

Businesses really need to be on the lookout for things like the blog example. It’s simple to do and can really benefit your company. Keep on top of technology news and constantly challenge your business model for ways to improve. It takes a dozen of the greatest business minds to find new ways of producing and selling products, but it only takes one to steal it and adapt it.

And “steal” is the wrong word for this type of practice. It’s more of a modification or an adaptation. Every business has something that it’s particularly good at. Apple had its user-friendly differentiator that it applied to MP3 players. Find a product or strategy that you think can genuinely help your business and identify what you do best as a company. Combine the two into something new and beneficial.