Hey guys and gals this is a little experiment that I have been conducting for the past few years. Personally, I really enjoy a good book. Drucker, being one of my favorites, always has these incredible ideas about how to go about things so I thought I would create a paper trail for the journey that lays ahead.
Through Peter’s Principles I will be testing different strategies from Peter’s in the world. From Diamandis to Drucker to Pablo, I plan to be waving it like a helicopter.
First stop. Entrepreneurship with Peter Drucker. Begin, Creative Imitation, a strategy used by the elite of the elite.
“Creative Imitation understands what the innovation represents better than the people who made it and who innovated.”
The imitators have insider knowledge about how the innovation can be applied in a way that the original creators did not.
IBM and PG are the originators of the strategy starting with the computer that ENIAC made that was much better than the one that IBM had originially designed. They repeated with the personal computer and copying off Apple. They knew that it was uneconomical to make the PC but when ahead anyway and reaped the rewards of the bold.
So, the imitators know something that the creators do not. They saw a change that could be taken advantage of, possibly at a later time than the creators, which would be a better application of the technology than originally designed.
Matterport originally thought that it was meant for the real estate agents, contractors, and builders. But, with the recent up dates, google street / mattertags, you can now cater to the small business owners by listing their property on google maps with a “virtual” store that they can use to “get their foot in the door” and for the users to fill their shopping cart to the brim.
Can also be used to create virtual reality art. Scenes or views that are only visible from certain perspectives and how the light shines. Example: CCE — the little preview before a movie about a company that helps produce movies and entertainment.
Remember Seiko Watches. They challenged the Swiss by bringing something the Swiss thought to be too much class to the mass. “By the time the Swiss had woken up, it was too late. Seiko watches had become the world’s best sellers, with the Swiss almost pushed out of the market. When something changes, anywhere or anything, an umbrella is opened. The race has begun between the two horses. Now, it is up to the riders to find the course of least resistance which will allow their vision to become the reality. Sometimes they will do well, but the tortoise will find a way on the home stretch. Thus, it is essential to keep your eyes looking ahead, all the while “staying greedy to new things” as a way of day to day activities.
Creative imitation is aimed at market dominance.
It is much better to be a big fish in a small pond than a shiner in the sea.