Many people lose their money by putting up a business (or betting on something) that turns out to be a fad.
They see a thriving business with a good idea on the street. They take, imitate and improve it a little. And just to make it a little bit more "competitive", they'll even make it cheaper.
This strategy rarely works. You end up becoming a wannabe in a specific category or industry.
You might as well start from the beginning. Be the trend-setter. As an entrepreneur, people are counting on you to innovate, to stretch the limit, to come up with something fresh and interesting.
Stop keeping up with your neighbor! Get to work and come up with something that will surprise us.
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YENG REMULLA is the author of the best-selling books Productive Pinoy & Start Something. An entrepreneur for 15 years, a real estate investor and the founder partner of START LEARNING.
