Inventors die poor, copycats die rich
Innovation and invention are not the same
Staring at my computer screen and scrambling through everything I have experienced in the last week for something I can share.
To be honest, the last couple of weeks have been filled with a lot of lessons. Lessons on personal/work relationships, business, health etc.
Today I’m going to share something I talked about a while ago on my Instagram Page but formed a big part of a mentoring session I had with some young founders.
We live in a world where Invention is often misnomered for Innovation. Everyone is under pressure to do things in a distinctly new way and sometimes is rewarded for this.
However, Inventors die poor and copycats die rich is such a true statement that holds water.
Quick Plug: Listen to the latest episode of The Grinders Podcast as Folaje Owodunni shares her experience and journey pioneering emergency healthcare for the mass market in Nigeria. Listen on Spotify and Apple below
History is littered with examples of inventors who died poor and miserable even though their inventions formed the bedrock of multiple innovations and industry lines.
An invention is something that never existed before. Innovators take these inventions and apply them in a way that makes them popular and more applicable to a mass market.
I often advise people that wealth is not in the beauty (or distinctness) of an idea or solution but in the execution.
You do not have to reinvent the wheel to be successful.
Here’s what you should be focusing on:
Make it work better
Deliver the solution faster and more seamless than others
Provide more benefits than others
Give the customers more reasons to patronise and recommend you rather than the other alternatives