Cominggg in HOT !🔥 Why You Should Stop Getting Butthurt Over Copycats Ep 124

Summary Notes


In today's podcast, the host addresses the common frustration entrepreneurs face when competitors copy their ideas, emphasizing the importance of maintaining focus on innovation rather than litigation. Drawing from personal experience, the host, a gym owner, shares how he overcame the irritation of having his marketing strategies and materials replicated by rivals. He argues that imitation is a sign of success and highlights that the true impediment to a business's growth is internal bottlenecks, not external copying. The host advocates for continuous improvement and staying ahead of the competition through speed and innovation, rather than wasting time and resources on legal battles that ultimately detract from business development. He concludes by encouraging listeners to view copying as an affirmation of leadership in the market and to concentrate on driving their business forward.

Summary Notes

Introduction to Dealing with Competitors

  • Speaker A addresses the common frustration of having competitors copy business strategies.
  • They express a lack of concern over this issue, indicating a shift in mindset over time.
  • Speaker A plans to share insights on maintaining focus and not getting upset by competitors' actions.

Good morning, everyone, and welcome to today's episode of how to not get butthurt about your competitors copying your stuff. So I'm actually super pumped for this one. And I can't even express to you the apathy that I had in response to the message that I got.

The speaker is introducing the topic of the episode, which is about not being emotionally affected by competitors who copy one's business strategies. The speaker feels strongly about this and is eager to discuss it, as indicated by their excitement and lack of emotional response to a specific incident.

Personal Experience with Copying

  • Speaker A recalls their own experiences with competitors copying their gym's marketing material and programs.
  • They describe the emotional distress it used to cause them, including losing sleep over the issue.
  • The speaker acknowledges that they used to place significant importance on the originality of their ideas.

I used to get so upset about this stuff. Like, I would lose sleep over it, right?

The quote reflects Speaker A's past emotional turmoil resulting from competitors copying their business ideas, highlighting the personal impact it had on them.

Realization of Idea Ownership

  • Speaker A realizes that ideas are not necessarily original and often stem from multiple influences.
  • They mention learning from various sources such as Dan Kennedy, Russell's work, and Jordan Belfort's training.
  • The speaker concludes that getting upset over copied ideas is a waste of time.

The ideas are not yours, typically. Because anytime I think that I have an original idea, you can probably find someone before you who has thought of it, right?

This quote encapsulates the speaker's realization that ideas are rarely unique and that they are often influenced by previous work done by others. This understanding has helped them to not take copying personally.

Impact on Business

  • Speaker A asserts that having their material copied has never negatively affected their business's bottom line.
  • They suggest that imitation is an indicator of their success and value in the market.
  • The speaker emphasizes that copying is a form of competition, which necessitates continuous improvement and innovation.

We have literally never made less money because people are copying us. In fact, the more people copied us, the more money we made for multiple reasons.

This quote highlights the speaker's observation that competitors copying their business has not hindered their financial success. On the contrary, it has coincided with increased earnings, suggesting that imitation can be an indirect measure of a business's influence and success.

Competition and Innovation

  • Speaker A discusses the relationship between copying and competition.
  • They use the example of Apple and Samsung to illustrate that copying is a natural part of competition.
  • The speaker stresses the importance of staying ahead through speed and constant improvement.

Copying is competition. And so that's why speed and innovation matters so much, is because you have to stay ahead.

The quote emphasizes the speaker's belief that copying among competitors is inevitable and that the key to maintaining a competitive edge is to continuously innovate and move quickly.

Evolution of Manufacturing Standards

  • Consumer expectations for product quality have increased due to improvements in manufacturing.
  • Competition drives businesses to innovate and maintain high standards.
  • The speaker highlights the contrast between past and present consumer reactions to receiving a broken product.

"Nowadays, if you got something from the store that was broken, you would be up in arms about how upset you were about this. That's because manufacturing has improved, and it's because competition continues to get fiercer and fiercer, because we need to innovate as business owners."

The quote emphasizes the shift in consumer expectations and the pressure on businesses to innovate due to improved manufacturing and increased competition.

Perception of Competition and Copycats

  • The speaker believes that competitors who copy lack the ability to innovate.
  • Copying is seen as a sign that the competitor is always one step behind.
  • Innovation is valued over imitation in the business environment.

"And what's comforting to me is to know that if someone copies me, in my mind, they don't have the skills to win, right? They don't have the skills to win because they don't know how to innovate, right?"

This quote reflects the speaker's confidence that innovation is key to staying ahead in business, and that those who copy are inherently at a disadvantage.

Business Growth and Bottlenecks

  • The speaker identifies internal factors as the main constraints to business growth, not competitors.
  • Infrastructure, leadership, and customer service capacity are cited as potential bottlenecks.
  • The focus is on improving internal processes rather than worrying about competitors.

"The reality is, we are always the bottleneck to our business. Some competitor is not stealing your business. The reason your business is where it is is because you have other bottlenecks in your business, not around your business, but in your business that are causing your business to not grow the way you want it to or whatever, right?"

The quote suggests that businesses should focus on internal challenges that impede growth rather than blaming external competitors.

Attitude Toward Imitators Benefiting Others

  • The speaker expresses a nuanced view on imitators, acknowledging that they may inadvertently provide value to their clients.
  • There is a sense of acceptance that imitation can lead to positive outcomes for the end user.
  • The speaker's mission aligns with the broader goal of providing value, regardless of who delivers it.

"And on some weird level, I'm happy about the fact that at least these fake gurus and mama's basement gurus who are taking our stuff, at least their clients are getting something now. You know what I mean?"

This quote conveys a complex emotional response where the speaker feels satisfied that, despite imitation, clients of copycats are receiving something of value.

Importance of Leadership and Management

  • The speaker emphasizes the significance of leadership and management in the success of a business.
  • Effective management of details and consistency are crucial for business growth and profitability.
  • The speaker suggests that focusing on these internal aspects is more important than worrying about competitors.

"The reason your business is where it is is because your leadership isn't where it needs to be. You're not good at managing details. You're not good at being consistent."

The quote indicates that strong leadership and attention to detail are fundamental to overcoming business challenges and achieving growth.

Competition and Imitation in Business

  • Imitation is a common occurrence in business, indicating that the original product or service is of good quality.
  • Competition is inevitable, especially if you are successful in your field.
  • The focus should be on maintaining speed and innovation to stay ahead of competitors.
  • Being copied can be seen as a form of flattery, signifying that your business is doing something right.

"If someone copies you, great. It means your shit is good, actually. Congratulations. Second, everyone is going to copy you because that is competition. If you're actually good."

This quote emphasizes that imitation is a natural consequence of having a successful business and should be taken as a compliment rather than a threat.

  • Engaging in lawsuits can be costly not just in terms of money but also time and attention.
  • Legal battles can introduce negativity and distraction, potentially harming the business.
  • The speaker advises that legal action can often lead to a worse off business situation.
  • Pursuing a lawsuit may not result in a significant win and can drain resources, potentially leading to the downfall of a business.

"I have sued someone. It took a year, and it cost money, which that didn't really matter, but it cost so much time and attention that I was like, this is just not worth it."

The speaker shares personal experience with litigation to highlight the excessive cost in time and attention, suggesting that it may not be worth the investment.

Importance of Speed and Innovation

  • Speed in business operations and the ability to innovate quickly are crucial to staying ahead of copycats.
  • Being first to market or continuously improving products/services is key to maintaining a competitive edge.
  • The speaker ridicules competitors who take a long time to imitate, suggesting they lack efficiency and innovation.

"Third, it means that speed and innovation are king. Speed is currency. That's why speed matters."

This quote stresses the importance of speed and innovation in business, positioning them as essential for success and growth.

The Speaker's Approach to Content Sharing

  • The speaker offers a video version of the podcast with additional visual elements for those who prefer that format.
  • The video content is available for free on the speaker's YouTube channel.
  • The speaker acknowledges different preferences in content consumption and provides options for the audience.

"If you ever want to have the video version of this, which usually has more effects, more visuals, more graphs, drawn out stuff, sometimes it can help hit the brain centers in different ways."

This quote indicates the speaker's understanding of diverse learning styles and the effort to cater to visual learners by offering a video version of the podcast content.

Impact of Competition on Business

  • Competition copying your work is not detrimental to your business; your own actions define your business success.
  • Being copied can be seen as an indication of leadership in the market.
  • The focus should be on maintaining and improving your position rather than on competitors.
  • Legal action against copycats can be a distraction and may hinder business growth.
  • Market focus and innovation are more important than worrying about competition.

Their copying does not affect your business. You affect your business.

This quote emphasizes that the success of a business is primarily determined by the actions of the business itself, not by what competitors are doing.

The bottleneck is you is not them.

The speaker is highlighting that the business owner is the one who controls the success of the business, not the competitors who may be copying them.

It is always when we are making the most money that people copy our stuff because it is actually good.

This statement suggests that being copied is a sign of success and that it often happens when a business is thriving because it indicates that the business is doing something worth emulating.

You can either continue to play the game and realize that anyone who copies you is inherently second, because they are copying you, which means you are the leader.

The speaker is pointing out that being copied means you are ahead of the competition and that you should continue to lead rather than be distracted by those who follow.

You need to focus on the market, not your competition.

This quote advises businesses to concentrate on the broader market and their own growth instead of getting fixated on what competitors are doing.

Coping with Copycats

  • Stressing over competition copying your work is unnecessary and unproductive.
  • Copycats often fail to sustain themselves in the market.
  • Original creation skills are critical for long-term success.
  • Recognizing that ideas are often not entirely unique and that influence is natural can alleviate concern over being copied.

I used to lose so much sleep about this stuff when I had my gyms, I used to get so upset about this stuff, and it just does not matter at all.

The speaker shares personal experience to illustrate that worrying about copycats is a waste of time and energy.

They disappear. They disappear two months later. We've never heard from them again.

This quote indicates that many copycats lack the endurance or originality to make a lasting impact in the market.

If you don't have the skills to create, then when you copy, you don't have the skills to win.

The speaker suggests that the ability to create original content is essential for success, and those who can only copy are unlikely to succeed in the long term.

Mindset and Business Strategy

  • A positive mindset focused on growth and improvement is crucial for business success.
  • Attention should be directed towards actions that enhance the business rather than on competitors.
  • Encouragement is given to share these insights with others who may be concerned about competition.

And so I'm passionate about it because I used to lose so much sleep, sleep about this stuff when I had my gyms, I used to get so upset about this stuff, and it just does not matter at all.

The speaker is emphasizing that they have learned from experience that worrying about competition is not worth the stress and does not impact business success.

We are not special snowflakes. Someone has probably thought of this idea before us.

This quote is a reality check that ideas are rarely entirely new and that it's common for people to be influenced by existing concepts.

Only you can do that.

The speaker concludes by reinforcing the message that only the business owner or team can truly impact the success of their business, not the actions of competitors.

What others are sharing

Go To Library

Want to Deciphr in private?
- It's completely free

Deciphr Now
Footer background
Crossed lines icon
Crossed lines icon
Crossed lines icon
Crossed lines icon
Crossed lines icon
Crossed lines icon
Crossed lines icon

© 2024 Deciphr

Terms and ConditionsPrivacy Policy