Over a three-week period,?we are publishing?daily tips“from Britain’s fastest-growing companies on how to grow your business.
To truly establish yourself in a market, you need a unique proposition. Today’s tip in our three-week Business Growth Plan” Don’t be a copycat.
“When looking to disrupt a market, look where customers are getting a raw deal,” says Errol Damelin, the founder of Wonga.com. It’s harder work, but it’s better than having a copycat business.
Being an innovative business in a stale market is what made Wonga successful, he adds.
“There were already companies out there disrupting other markets, but not in short-term borrowing that’s our space.
By carving out your own niche, you’ll create your own successful industry, rather than trying to compete against more established players.