Entrepreneurs and opinion makers regularly speak against cloning an online business. Be it just an idea or whole business model, we find it hard to digest the fact that someone is profiting from a borrowed idea. But there are brilliant minds out there who think cloning is fine.
Today, we bring you thoughts from some of the greatest thought leaders in business, entrepreneurship, and art. We guarantee you will think of online business cloning in a new light after going through our top class resources:
Insights from Instagram CEO
You must have heard about the newly launched Instagram Stories. There are hundreds of reports online where the popular photo & video sharing platform is being slammed for completely ripping off Snapchat Stories.
When approached by Techcrunch for explanation, Kevin Systrom (CEO of Instagram) made very convincing points about deploying a popular format/technology created and perfected by someone else. And it completely makes sense.
Story of Rocket Internet
Building clone businesses is a serious job and Samwer Brothersis the perfect bunch to confirm this fact. The 3 Germans are the brains behind Rocket Internet, the cloning behemoth of the internet businesses. The company has market capitalization of over $3 billion and is the idol of clone enthusiasts all over the world.
Earlier this year, an employee of the firm was interviewed by TheHustle.co and out came very interesting details of building and growing clones. Let us warn you, building a billion dollar clone is nothing like you ever thought.
Wisdom from world leaders
We worship uniqueness to the point of madness. Be it our educational system or social life, we try our best to stand out of the crowd. But what if we tell you uniqueness is a false idea? This brilliant piece published at VentureBurn.com shares what the likes of Mark Twain and Steve Jobs think about uniqueness.
It also shares how modern ideas are mostly borrowed from past, consciously or subconsciously. This post also answers why it is said that execution matters more than the idea itself.
Our two cents
Let’s go about it with an example.
Butcher’s Shop is the only meat retailer in a neighborhood. It offers quality meat and people love it. Sam finally notices the lack of competition and opens his own meat shop in the neighborhood.
Now, can we blame Sam for being an idea-thief because he decided to benefit from the market gap?
Internet businesses work in the same way. Someone comes along and proves a business model profitable. Others join in and try to make money as well. Those who bring expertise and manage to add value survive in the long run. Others sadly perish.
What’s your take?
Everyone is free to have an opinion and we want to get acquainted with yours. Share your thoughts on cloning online businesses in the comments section and let’s take the discussion forward!