What should you do when a competitor copies your business ideas and practices? Several of Her Corner’s Accelerator members I’ve had the privilege of working with have faced this business challenge.
In one case, a company we work with has built an amazing brand, leading to national recognition. They also have a teeny tiny competitor that just can’t seem to come up with an original idea of its own. Whatever the Her Corner member does, be it product design, blog post topic, or specific ad content, without fail this competitor magically does the exact same thing about three days later. How annoying is that?
So the question is, what do you do about it? To ignore or not to ignore?
You know what you do?
Ask yourself: What is the upside to reacting?
Yes, it’s frustrating. But don’t make the mistake of letting someone else’s lack of business originality distract you and take your eye off of your own goals and what’s best for your business.
The truth is, the copycat will always be at least a few steps behind you because, again, they can’t come up with an original idea! If they could, they’d be doing that instead.
The only thing you can control is the quality of work your company does and your singular focus on keeping your clients or customers happy and loyal. As long as you maintain that high standard, it almost won’t matter what the competition is doing.
I’ll let you in on a little secret.
Fred and I are facing this same issue at Her Corner. A few weeks ago, yet again, our exact copy and programming magically appeared somewhere else.
We are choosing to take it as the highest compliment. Just like our mothers told us when we were little, imitation is the highest form of flattery. Fred and I believe in what we are doing and are on a mission to change the world and make it a better place for women entrepreneurs. If that means we inspire a few copycats along the way, so what? Is it really the end of the world to have more women working towards this same great goal? Of course not.
Knowing we have a copycat means we must be on the right track. It makes us even more focused and committed to doing our best work, so that we don’t even have to think about the competition—and neither should you.