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11/18/2010

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Allan,
Thank you for your thoughtful post. I agree with you that successful businesses should not try to thrive simply by becoming a copy of another business.

Perhaps businesses can be successful at copying a system or outlook.

Issamar Ginzberg gives examples using the pizza industry. Fast Food pizza chains usually specialize on delivering pizzas at a low price with low quality. An new restaurant trying to beat Dominos on prize and speed will probably fail. But if the new restaurant has something special about them that no chain can best, they may succeed.

Healthy (whole wheat crust, low fat cheese, low grease, organically grown toppings)
Equipment (wood fire, brick oven)
Social Good (living wage and opportunities for workers, community involvement)

As Issamar Ginzberg points out, on one hand, the pizza is nearly the same, yet it can be completely different given the situation and experience.

Trying to make the next Groupon, Facebook or Google will likely fail if a business has no advantage or innovation. But, they may succeed by focusing on something that larger businesses are missing or cannot implement.

@Joseph: bingo!

There is no reality, there is only perception. The 'new' thing does not have to BE new, it just has to FEEL new.

@Joel,

True, the "new" just needs to "feel new." Sometimes the "new" can be something old in an updated/repackaged form:

Retro cars (VW Bug, Chevrolet Camaro, BMC Mini, and Ford Mustang)
Greatest Hits/Best of Album for Musicians (1, The Beatles album sold 31 million copies worldwide)
Movies (James Bond, Transformers, Star Wars)
Restaurants ( N-N-OUT Burger, Hard Rock Cafe)

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