The world is full of millions of books and courses on how to build business.
Examining them, you could be forgiven for concluding that it’s hard to do.
After all, if succeeding in business was simple, how could there be so many thousands of complex and often contradictory methodologies on how to do it?
But what if there was one single strategy you could use to be almost certain of making a million dollar?
Well I think there is.
Do this one thing well and in time it is almost certain you will be highly successful in almost any industry.
What is that strategy?
Just find the best in your industry and copy them. That’s right, just do the same things they do.
Copy their brand positioning.
Copy their pricing.
Copy their website design, newsletters and Marketing strategy.
Emulate how they dress, how they talk, what they think, their beliefs about where the industry is heading.
Do this for three years, and I assure you will have a successful business.
Why?
Because the market leaders in your industry have already made the mistakes, tested what works and what doesn’t.
By simply doing the same things they do you quickly short circuit your learning process, going straight to a successful model.
Now of course when I say copy them, I don’t mean precisely. Ripping off their exact wording, logo colors and brand names will of course be an express ticket to the law courts as far as trademark & patent are concerned (at least in India).
But if you take what they do and do it slightly differently, you will generally end up with some great profit streams.
But here’s the problem.
Most business owners don’t even know their competitors. They simply haven’t bothered to do the research to find out who the most successful players in their industry are.
They are not experts in their own fields. And so they are condemned to make endless mistakes, as they attempt to invent what works by themselves.
Studying your industry doesn’t have to take a lifetime either Probably just an hour or two a week actually.
Looking at competitors websites, worldwide. Reading your industry’s trade journals religiously. Buying the latest books written by industry titans.
Attending the most important industry conferences.
It’s not hard.
But follow this one strategy and your entire financial future will change for the better.
You’ll not only know the best players. Pretty soon you’ll be one yourself
(Sources: simon reynolds, Personal Experiences)
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Vikram Mg 