Image: Easily duplicate your products or services without allowing your competition to do the same

There is an important paradox involved with the concept of duplication and cloning.

You, as the owner of a money generating idea, want to be able to easily duplicate the product or service. You don’t, however, want your competition to easily be able to do the same.

That “difference” between you and your competitors is your USP (unique selling proposition).

The “cookie-cutter” approach has been found to be quite effective for many businesses. A real estate investor, for example, buys similar kinds of property, and sets up a system to maintain them. He “knows the numbers,” and keeps his risk to a minimum by evaluating each purchase against his proven analysis of costs, income projections, appreciation, etc. He benefits from his experience by applying this knowledge against subsequent purchases and sales.

A franchise accomplishes the same thing by benefiting from “collective experience.” McDonalds, Dunkin Donuts, and Subway are great examples of this concept.

Think of one of your favorite singers. Their voice, image, and style are unique and not easily duplicated by anyone else. Yet they are able to crank out hit after hit if they have true talent.

How will you integrate this important concept into your business?

Apply This Concept

Michael Gerber:
" As you set up your business, try to think of duplicating yourself 5,000 times over. Develop systems that allow for consistency of your product or service."

Jack Canfield and Mark Victor Hansen wrote a neat little book called, "Chicken Soup for the Soul," and touched the lives of millions. Then they wrote another, and another… Talk about duplication: One great idea, that just keeps multiplying and adding value for readers (and their writers!) alike.

Only a dummy would be chicken to try out their success formula!

Speaking of dummies...
Laws of Wealth
terms+conditions | media room | contact us