The key to successfully combining imitation and innovation is to educate one’s self regarding the proper timing when applying innovation. Knowing when to expand on the abilities and uses of a product will increase your chances of success in your attempts to make the product better through the use of innovation.
Table of Contents
Introduction
Imitation in History
Imitation & Innovation Today
Why Imitation Is Truly Valuable
How Imitation promotes Innovation
There is a correct way to imitate effectively
Innovation and imitation are not antagonistic towards each other
Why Imitation has Grown in the Modern Age
Changes in the laws that govern imitation:
Education regarding codification:
The globalization of commerce:
The appearance of various channels of imitation:
Modular chains of value:
Examples of Successful Imitation in Action
Becoming a Successful Imitator
Have the ability to implement the things you want; make your vision a reality.
Seek out others who place a high value on imitation.
Keep imitation in its proper place; keep it in perspective.
Understand everything that is going on beneath the surface.
Always be on the lookout for opportunities, but choose your imitation options wisely and with honesty.
Make sure the business model you are considering for imitation is right for you.
Successful Strategies of Imitation
The Ten Rules of Innovation
Begin immediately.
Don’t attempt to “reinvent the wheel”.
Balance offense and defense.
Make your imitation belong to itself.
Be sure your imitation contains more value than its predecessor.
Be transparent in regard to emulation of competitors.
Timing is important, but it isn’t everything.
Look further that your own backyard when looking for good ideas to emulate.
Do not oversimplify if at all possible.
Keep it real; what works in one industry may not work in another.
