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.
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