There are always lessons that can be learned from another manufacturer. You can learn from their successes and from their mistakes also. But you cannot replicate; you can only learn.
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Sometimes when you innovate, you make mistakes. It is best to admit them quickly, and get on with improving your other innovations.
I've made mistakes in business, but none so big I couldn't recover and learn from them. The more you try to change consumer behaviour, the riskier it gets. You have to work out your potential losses against the obvious gains.
More can be learned from what works than from what fails.
Most of all, I discovered that in order to succeed with a product you must truly get to know your customers and build something for them.
You can learn everything that there is to know about the industry or the player from the company that is performing better or worse.
You've got to keep reinventing. You'll have new competitors. You'll have new customers all around you.
What I learned was the quality of continual reinvention.
Learning about and from your customers isn't always easy and requires a commitment to continual observation.
You cannot learn anything from success, you only learn from failure.
You should learn from your competitor, but never copy. Copy and you die.
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