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A few weeks ago, I came across a Harvard Business Review (June 2010) article called “Defend Your Research: Imitation is More Valuable than Innovation,” by Oded Shenkar. Shenkar’s exhaustive research led him to this finding: “Imitation is underappreciated. It can be more important to business growth than innovation is. Imitation is not mindless repetition; it’s an intelligent search for cause and effect.”1 In other words, he proposes that copying is a good thing, and I could not agree more.
I have come to realize that what I really do for my clients is serve up best practices, link dots and help people model what has already been proven to work. I discovered long ago that cross-pollinating what works among industries often gives an organization a major competitive advantage. Like Professor Shenkar, I believe that good imitators actively search for the best ideas already out there and adapt them to fit their business model to achieve superior results. I have devoted my career to this concept, helping thousands of companies attain far greater success by imitating what others have done before them.
Here are five best practices I’ve discovered and shared with a small group of hand-selected clients to help them achieve faster results. I hope you find them of value.
Competitive Comparison. As simple as this concept is, many organizations fail to utilize the technology available on the internet today to research, study, understand and keep current on their competitors’ niches, distinctions, offerings, and specialties. This is a huge mistake that often results in an organization’s being blind-sided by its competition. I propose that you keep current on your competitors at all costs—even if that means contracting it to an outside source.
Google Research. You and your team should be creating what we have termed Smart Reports on your products and services to determine features or characteristics from others that can be emulated, modeled or partially duplicated.
Research the Other Side of the World. Don’t limit your research to domestic companies. Read, study and become aware of practices that may be of great value from the other side of the world, another continent or even an adjacent country.
Biographies. Study the books that have been written about the most successful people in the world to see what they have done, even if it has been in another industry. Look for characteristics and practices that led to their success, and adopt them to model in your own business. You can download an e-book of most biographies on Biography.com.
Curiosity. Recently, Denis Waitley and I were interviewed by my friend Gerhard Gerschwandtner, founder of Selling Power, on the subject of success. The interview was conducted in Zig Ziglar’s studio, and we spent many hours discussing the subject. At one point during the interview, I reversed the question, “What are some of the biggest contributors to success?” to Gerhard and he surprised me with a one-word response—curiosity. He suggested that curiosity allows a person to ask questions, including the why’s, and eventually allows the person to get into some really great kernels. I thought it was a great observation. I firmly believe you can learn from everyone. Being curious and asking questions can help you see, understand and become aware of things you can copy, model and utilize to create results faster.
So I leave you with one simple question linked to the five concepts listed here: How committed are you to learning best practices that could help you compete and win in today’s unusual world?
1. Oded Shenkar, “Defend Your Research: Imitation is More Valuable than Innovation,” Harvard Business Review, April 2010, http://www.hbr.org, accessed 6/2/10.
Tony Jeary, The RESULTS Guy™, coach to the world’s top CEOs and high-achievers, helps top organizations accelerate their results. He is the author of 37 books, including Strategic Acceleration: Succeed at the Speed of Life (Vanguard 2009). Visit http:// www. tonyjeary. com for more information.
