Imitation, Flattery, Yada Yada
Watching copycats pop up should be seen more as a validation of your organization’s concepts than as an actual threat. Inevitably, copycats will fall short of your organization, because they can only copy what you have already made public, while you and your people are hard at work on the next step.
Wong says that the opposite can be true as well. A real competitor with a similar concept but different execution can challenge you to stay vigilant, as seen decades ago when Taco Bell founder Glen Bell helped to foster the creation of a competitor, Del Taco. For more examples and details, you can read Wong’s full article here: http://pando.com/2014/02/19/why-copycats-are-the-best-thing-to-happen-to-your-company/