What to do when someone copies your business idea

The long and short of it is Keep Calm and Carry On.

A few months ago I got an email from someone enquiring about my business idea to collaborate with me. I checked out their site and it was nothing like mine – but I responded anyway suggesting a time to speak. The person didn’t get back to me.

Fast-forward a few months and I get an email from a friend who came across a business that’s exactly the same as mine – not only the concept but the website design – right down to the written content and the visual imagery. Whose business was it? The person that emailed me.

It’s one of those annoying things but it’s hard to avoid. Competitors will always arise, so you just have to deal with it. Here are a few tips to help keep your head up:

Don’t panic

The fact that they’re watching you so closely means that you’re onto something great and there’s a market for it. This is good – so stay focused.

Be mindful of what you reveal

Make a list of the things you don’t want to disclose so even when you’re pitching, you’re keeping your cards close.

Use NDA’s

If you can maintain this practice – do it. It lets people know that you’re serious about your business and you won’t tolerate theft lightly.

Pray

Cover your business with prayer and don’t leave all your business moves to you. Nobody gets ahead of God haha! (thank God).

Have a vision for your business

No one knows your next move, so make sure you do. Plan ahead. Look into the future. Don’t let competition take your eye off the end goal.

Work on your company ethos

Howard Schultz, CEO of Starbucks says:

“We have no patent on anything we do and anything we do can be copied by anyone else. But you can’t copy the heart and the soul and the conscience of the company.”

 

 

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