In Portuguese we say, nothing is created, everything is copied. Every day we listen to someone saying, “that solution is the Uber of that industry. Comparisons are welcome; most of the successful businesses were inspired by other companies. Indeed, I can say, even more, copying any idea is fine, but not easy.
The Silicon Valley is where the best ideas are born. During my first days there, I thought about importing some successful startups ideas to implement in Brazil. At that point, I didn’t have enough knowledge to understand how difficult it would be. Importing a business is hard for to main reasons.
First of all, start your own business is never easy. You need a lot of resources for starting a new venture. The resources you would have in your home country are different from the ones you have SF, for example. In Brazil, it’s not so easy to find talented people. Plus, investment is harder to get. If you are importing a capital-intensive solution, you might struggle. Plus, legislations are different, which might change completely the solution you are building. Those issues do not make it impossible, but you should be aware of the market you are to be able to face those challenges
Knowing the recourses and limitation, you will face is solving half of your problem. Different markets also mean different consumers. People are different, and it is hard to forecast how much they will like what you are proposing. Remember, you should classify your clients in lifestyle, behaviour, not gender and age. Cultural differences matter a lot, enough to kill your business. Before even starting this venture, you have to study your market; you must know your potential client.
If you are able to develop a very good and affordable similar solution, and plus, the market is willing to consume the solution you are importing you are in the right way. In sum, if the timing is right, you might succeed. On the other hand, copying business ideas is not only about importing, but also improving. If you think any business is not good enough, you have enough reasons to start your own copy of it.