It is statistically proven that most start-up businesses fail within the first three years of operation. In his blog post entitled ‘Stop trying to be like everyone else- grow your business faster!‘, Brian Morris proposes that a major contributor to business failure is poor marketing; specifically, the employment of old and overused marketing strategies that prove ineffective in modern times. He suggests that many start-up firms have become copycats, mimicking the marketing strategies of existing businesses, in the hopes that they would work for their businesses as well. However, this has done more harm than good to many a small business.
At first glance, imitating the marketing tactics used by up-and-running firms seems like the sensible thing to do, especially if you are a start-up business. However, many small businesses do not even have the financial capital to invest in extravagant marketing campaigns. Rather than using the typical (and costly!!!) marketing strategies such as television, newspapers and radio, start-up companies should experiment with unique, low-cost but impactful marketing methods. Mimicking disregards two core aspects of entrepreneurship: innovation and risk-taking. Truly successful entrepreneurs explore creativity and bear the risk of experimenting with fresh ideas.