The Innovator, The Imitator & The Idiot

There are three “I”‘s of every product category: the Innovator, the Imitator and the Idiot. You can clearly see this pattern in any product category.

Why it Happens
There are many reasons that products follow a herd mentality.
– Strategic reasons (ie to cover a flank).
– Desperation (ie we are failing and have no better idea).
– Bad Timing (ie we were planning a similar product unknowingly and they beat us to market)
– Ego (ie I am awesome and I can do the same thing better)

Once one company in a particular space shows success, the Imitator quickly follows and then the Idiots enter. This strategy rarely works for the 4th or 5th entry. No industry is big enough to support that many products. The common theme among most of these entrants is that their product is a “me too.”

What’s a “Me Too”?
If you try a product and can’t clearly and compellingly understand within the first 30 seconds how it is different then the market leader…that’s a Me Too product. It should be obvious within seconds why someone should switch from the leader to your product. Or at the least clear to a non-user of the market leader why they should choose your product over the leader.

Published by v1again

I love being a father and husband. My family is my heart. I love challenging my mind with business. And there is no greater challenge than creating something new. I love creating products and services that people enjoy. I love fighting competitors. I love doing things that others initially think is crazy and fighting like hell to prove them wrong. I love being told I will not succeed. I love meeting people and hearing about their passions. This is going to be a fun ride!

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