Innovation doesn't always have to be original. Sandals founder Butch Stewart was a 'shameless copycat,' studying other resorts to find their best ideas—from champagne service to whirlpools—and implementing them. This mirrors Sam Walton's strategy of meticulously copying successful retail practices.
Related Insights
Instead of copying what top competitors do well, analyze what they do poorly or neglect. Excelling in those specific areas creates a powerful differentiator. This is how Eleven Madison Park focused on rivals' bad coffee service to become the world's #1 restaurant.
The most effective way to start a new venture is to reverse-engineer success. Talk to 20 successful people, find a business model and lifestyle you want, and "steal like an artist" by applying their blueprint to your own situation.
Pinterest copied Facebook's onboarding, and Meta considered copying a Google app strategy. Both were misguided because they failed to account for their different products, customer bases, and market timing. Growth strategies are not one-size-fits-all and require a customized approach.
Top entrepreneurs don't just build a product; they become historians of their domain. They study predecessors, understand market evolution, and learn from past attempts. This deep historical knowledge, seen in founders of Stripe and Airbnb, is a key differentiator and trait of the very best.
When facing large competitors with more resources, identify what they are structurally unable or unwilling to do. Sandals founder Butch Stewart promised 8-hour AC installation and free, fast repairs to beat giants like General Electric, focusing on their inherent weaknesses: speed and service.
Jesse Cole's success stems from "parallel thinking"—the ability to identify a core strategy in an unrelated industry (e.g., Grateful Dead's fan engagement) and apply its principles to his own business. This allows him to import proven models from outside his industry's echo chamber, leading to breakthrough ideas.
The famous quote attributed to Picasso is often misinterpreted as permission to copy competitors. Its true meaning is to steal from a wide variety of historical sources and disparate industries to create a unique, recombinant style, rather than simply cloning a successful trend within the tech bubble.
Instead of imitating successful competitors' tactics, deconstruct them to understand the underlying psychological principle (e.g., scarcity, social proof). This allows for authentic adaptation to your specific context, avoiding the high risk of failure from blind copying which ignores differences in brand and audience.
Truly great ideas are rarely original; they are built upon previous work. Instead of just studying your heroes like Buffett or Jobs, research who *they* studied (e.g., Henry Singleton, Edwin Land). This intellectual genealogy uncovers the timeless, foundational principles they applied.
Seeing an existing successful business is validation, not a deterrent. By copying their current model, you start where they are today, bypassing their years of risky experimentation and learning. The market is large enough for multiple winners.
