07/14/2024
Do your business ideas have to be novel?
Like when it comes to doing business, I was told over and over it has to be "new." Something nobody has seen before.
At least in my home country, Vietnam, where the rate of innovation is break-neck fast; and the pace of getting copied is equally fast.
But as I started a business in Canada and the US, I was repeatedly told NOT to be INNOVATIVE.
COPY WHAT WORKS. DON'T REINVENT THE WHEELS.
So, I'm mimicking a model that has been proven to go up to $100,000 per month - a marketing agency.
I have started to understand a few reasons for that.
For such a big market like US and Canada, following the leader is sometimes the best strategy for STARTER.
Proven product-market fit, proven strategy and ex*****on. The only variable is effort. The less variable to test, the easier it is to control.
Just a tiny 0.0001% of the market is enough to make 100,000 per year. That's the power of a big market.
That said. I must be critical in choosing the right model to copy.
Changing when things don't work as hypothesized.
Stick with the plan despite all hardship.
And put in all the hard work.
And that is exactly what I'm doing.
