Some say that imitation is the sincerest form of flattery; I say that imitation is the surest route to irrelevance, commoditization and obsolescence. Gone are the days in which a company could turn out "me too" products better, faster, cheaper. Gone are the days in which products and processes could be studied on one side of an ocean and replicated, mass produced and sold on the other. We live in a global, flat, borderless 24/7 world. There are virtually no barriers to entry to anybody anywhere in the world.
If this is the case, why do people and companies dedicate so many resources to trying to catch the competition simply by attempting to do what they think the competition is doing? Why are there so many followers rather than leaders? To me this notion conjures up an image of a gerbil on a treadmill - executives spinning their wheels as they latch on to and try to implement the ideas of market leaders. Market leaders are market leaders precisely because they are not spending inordinate amounts of time obsessing about and trying to mimic what others are doing. Market leaders are market leaders because they have vision and are always on to the next thing. Understanding that today is a future yesterday, market leaders are living in today's reality while competing within a simultaneously changing marketplace. Rather than spinning on the treadmill they are off and charging out of the gate, aiming to win the race.
In today's world winning products and services are conceived, developed and marketed as parts of overall strategies. The results are products that are more than just "products". They are component parts that fit within the context of an overall and broad based mission which is much grander than the product itself. Ultimately the parts enable leading companies to differentiate themselves and stand out from the pack. The "products" are bigger than just the immediate function that they serve.
Think Apple iPhone, Dell computers, Virgin Air, Google Maps. These are not merely versions of existing products and services already on the market. These are saleable components that fit within an overall corporate strategy which align with the organization's brand and mission. Their strategies enable them to differentiate themselves and to emerge as market leaders. Their products and services are bigger than just the immediate end use or function that they serve.
The leader is always ideating and creating for the future. The leader is always on to the next new idea while the follower is still trying to catch up - still working on duplicating the leader's recent success. Many years ago, I heard the expression, "those who dare to be different, dare to be great". This is not any truer today than it was years ago; however it is certainly more vital to survival in today's intensely competitive markets.
What's the solution? How can you be great? How can you think beyond tomorrow? The foremost innovation thought leaders participating at HSM's World Innovation Forum, (www.wifny.com) next May will steer you towards the path to value creation in a global marketplace. For more information and special registration offer, please visit www.wifny.com .
