Lesson Sixty-Three: Stealing from the Poor

It always shocks me when a small business owner will rationalize his advertising by saying, "We look at what the competitors do and copy them."

Now, I'm all in favour of stealing ideas. In fact, I'd encourage it. There are no original ideas under the sun, as the saying goes. So whoever it is you are stealing from, stole from someone else. But, for goodness sake, be smart about it.

Taking the ideas of a competitor is like robbing the poor. It is cruel and there isn't anything worth taking.

The real prize is in making a careful study of those who are successful. They are the ones you should be eyeing. That's where to find the good stuff.

But, don't be tricked by thinking biggest is best. Most companies got big on the shoulders of great leaders who are long since departed.They are now run by bureaucracies and managers. The methods of big companies are vastly different than those simply wanting to get big.

You will not rise up by emulating them.

Also, do not look within your industry. Industries are filled with debates, agendas and information that is completely irrelevant to your customer.

A local restaurant,The Macaroni Grill, is doing a brisk business (which I'm sure is making someone very rich) largely by stealing the ideas of supermarkets. When you order an entrée your waiter will up-sell you a $1.99 starter salad, which is a twist on the point-of-sale impulse purchase. A bottle of wine is strategically placed on every table and is sold by the inch, allowing patrons to buy exactly the amount they want. It is no different than the bulk goods bins at your supermarket. Desserts are brought along on a platter, allowing the customer to select one on the spot, which is just a form of merchandising.

They know how to steal good ideas that better the customers experience and increase profitability.What can you do?