Copycat competitors and the break-out point

Copying your competition has a lot of benefits. You get a well-working framework to make your marketing, or pricing, or business strategy work.

It’s the easiest thing for a young [clueless] entrepreneur to do and get off the mark. If I’m being totally honest, most of us have been at this point at least once in our professional career. [I’m no exception]

After all, if it’s working for them, why can’t it work for you?

But, . . . .

Can we keep going like this? Sustain our success by merely copying others?

I guess not; there’s a flaw.

The flaw.

If you’ve ever played Chess you’d know it better.

Mirroring is an infamous strategy in Chess. You imitate your opponent’s moves. While it can help beginners buy some time or annoy the opponent— you can’t win games with it.

Plus, blindly copying the opponent means sleep-walking into their trap.

To actually win—you’d need to break the symmetry at some point.

The same can be said for blindly following competitors.

Let me present you with some of my theories on the matter. Just hear me out, we can debate over it later.

I’m not (*totally) against copying competitors.

In fact, it’s a reasonable strategy to begin with. Why? When you study competitors, you study their strategies, know what’s working for them and if it’ll work for you or not.

It helps you narrow-down your ideas, and think strategically towards planning.

While copying may not be an issue, the issue can be: (1) what you copy (2) how you do it, and (3) to what extent.

Let me explain.

Things wrong with being a copycat competitor.

1. What you copy

When I say, what you copy can be an issue, I mean you cannot copy someone else’s:

• Vision
• Their brand identity
• Their USPs
• Their messaging & tone of voice.

These are things integral to any business. Copying them means not being true to yourself.

2. How you copy

When I say, how you copy can be an issue, I mean you can’t blindly follow your competitors.

You can’t:

• Lose authenticity—diluting what makes you unique.
• Just copy—neglecting innovation.
• Just copy without understanding the “why”.

Focus should always be to learn from your competitors and improve your offerings, not to replicate them top to bottom, inside-out.

3. Extent of copying

Like ice has a melting point and water a boiling point, you must establish a ‘break-out’ point—a line you won’t cross.

This means determining when to stop following competitors and start innovating independently.

Let’s try an easy explanation.

The break-out point.

Like a break-even point is when your business starts making profits, a break-out point is when you stop following your competitors, you break-out.

I coined the term very recently, it comes from my own thoughts on the matter. 

“I feel you can never get ahead of your competitors by following them, following someone means always being one step behind.”

I’ve heard hundreds of business saints suggesting to look at your competitors and follow some of their strategies, but one thing they never mentioned is when to break-out.

The example.

Imagine you’re starting a coffee shop with a vision to build a chain, positioning Starbucks to be your direct competitor.

You’re at square one, while Starbucks at 100—operating on a much larger scale. You’re nobody to them.At this stage, adopting some of their successful strategies won’t hurt. In fact, it can provide valuable insights and foundation for your business.

However, after maybe a decade or so, you reach at square 60, somewhere close to the big ‘ol brand. You’re a part of their competitor analysis. Your customers like your offerings. And you have a decent brand value.

Now, if you create a social media advertisement that closely resembles Starbucks’ campaigns, it may be perceived as unoriginal or derivative, even if the similarities are minimal.

This perception can undermine your brand’s authenticity and differentiation in the market.

A parallel can be drawn with the smartphone industry, where companies have faced criticism and legal challenges over perceived imitation.

For instance, Apple has accused Samsung of copying design elements and features of the iPhone, leading to prolonged legal battles.

I feel the copying game stops the moment you get off the ground and your competitors start seeing you as one of their rivals.

This ‘break-out’ point is when you should shift focus from imitation to innovation, carving out your own [unique] place in the market.

What’s ahead? copy or not-to copy.

Every idea on the internet is plagiarised. In the immense ocean of content and ideas, it’s quite cumbersome to pour something new.

What remains unique are your unique perspectives and interpretations. Copying from one source is plagiarism, but copying from 10 is called research.

Research competition, and those who may not be your competitors. There are things to learn from everyone.

Integrate those ideas with your unique viewpoint and develop your innovative strategies.

I guess that’s the only way to move forward. To be a leader in your industry, competitors would like to copy.

Before I go, here’s a humble pitch on how Upmetrics can assist with your competitor and market research.

Our AI-powered market research analyst can help you source information on your competitors, current market trends, and more, simplifying market analysis for your business plan. Learn more >>

That’s it for today, write me back if you like the post or disagree with me on this, I’d love to chat.

Until the next time,

Happy business planning.