Everyone scoffs at “me too” products.  However, the scoffed at should be feared.  When done correctly a ‘me too’ can surpass what it was copying.

“Look at Ali Baba. It started in China as an imitation of Yahoo,” said Oded Shenkar, in a recent GigaOm article.  Oded is the Ford motor Chair and professor at Fisher College of Business at Ohio State University. “Now it’s in a position to buy the company it was imitating.”

How to Prevent Copycats: Four lessons from GigaOm

- Differiate: Realize your main idea is not unique, but how you differentiate is: Many others thinking through similar solutions as your company is; the key to success is to understand all the players and ensure you solve the problem better/differently.

- Think global: Many copycats just take your product to a different international location

- Partner or acquire clones that are competitive.  Just as Groupon bought competitors across the world, gobble up up would be threats if the cost of competing is high.

- Execute well and execute fast!  Ideas are a dime a dozen—the winners will outperform in how they operate and stay relevant to the market.