When conceiving of your business, it may be wise to ask “Am I bringing something new into the world, imitating the works of others to make something greater or am I just taking advantage of someone else’s profits?” These three mentalities are common enough that Warren Buffett and Mark Cuban from "Shark Tank" have mentioned this consistent spiral of progress as a product is introduced: entrepreneurs are innovators, imitators or idiots. Brandon Frere, successful entrepreneur and CEO of Frere Enterprises, believes that entrepreneurs should find out which of these mentalities they are following when they start planning their business.

“What’s important is figuring out the mindset you are using when thinking of your company’s purpose,” said Brandon Frere. “I consider myself an imitator and make my company plans around refining what is already there to the best of my ability.”

The innovator’s world relies on a strong knowledge of various industries to find a product, and a moment, where they can make a splash. Often, these innovators make niche products that have a core use to them but are not made into larger products until they are adapted for the public in some way. The innovator relies on their timing and uniqueness of their product in order to get it across. Since innovators are trying out new territory, it can be difficult to find precedent or data to support their product’s worth. Innovators need to find the right measurements to support their new innovation in order to make the innovation work.

While an innovator relies on creating a new market, an imitator instead relies on studying the new market and delivering a product with more polish. By studying the market data, an imitator can see what aspects of the product are most desirable and refine those to make them work more effectively. A lot of the best products can come from imitators who see a good way to combine multiple innovations together. It is possible to be safer and more successful than an innovator by being an imitator.

The idiot, so to speak, notices the success of the innovator and the imitator and tries to create the same product with the least effort, and with as little innovation as possible. Very little market research is often done by such an entrepreneur and the product is made in a cheap and derivative way. This is a good example of someone working towards their bottom line without doing their due diligence.

“I don’t like making a product without doing some market research first and understanding how I can combine ideas together to make the product greater than what came before,” said Frere. “Understanding what sort of mentality you bring to your work can let you develop a better plan and focus on the important tasks at hand.”

About Frere Enterprises
Brandon Frere is an entrepreneur and businessman who lives in Sonoma County, California. He has designed and created multiple companies to meet the ever-demanding needs of businesses and consumers alike. His company website, www.FrereEnterprises.com, is used as a means to communicate many of the lessons, fundamentals and information he has learned throughout his extensive business and personal endeavors, most recently in advocating on behalf of student loan borrowers nationwide.

As experienced during his own student loan repayment, Mr. Frere found out how difficult it can be to work with federally contracted student loan servicers and the repayment programs designed to help borrowers. Through those efforts, he gained an insider’s look into the repayment process and the motivations behind the inflating student loan debt bubble. His knowledge of the confusing landscape of student loan repayment became a vital theme in his future endeavors, and he now uses those experiences to help guide others through the daunting process of applying for available federal repayment and loan forgiveness programs.

FrereEnterprises.com