What do you think of replicating a product?
Hi indie hackers, my goal is to achieve financial freedom as soon as posible. Do you think is it bad to replicate a successful product and launch it maybe in another language?
Hi indie hackers, my goal is to achieve financial freedom as soon as posible. Do you think is it bad to replicate a successful product and launch it maybe in another language?
Here's the way I like to look at it. You have two options:
Get rich quick - If you want, you can get rich quickly. Lots of people here are pulling it off in only 3-5 years. If you want to do this, you have to go for the real deal, which is going to be hard! Really, really hard. Copying a website just won't cut it.
Get rich easy - You can also try to get rich easy. This doesn't exist though, so you'll be chasing an easy payout which will never come. You'll buy course after course of people promising you 'instant wealth in 30 days!' and 'How to make millions shorting commodities!', and in 3-5 years you'll be right where you are now, except a little more broke.
You've already come in from the wrong mindset. Entrepreneurship isn't about achieving your own personal success. That's a side effect. It's a result of creating a product that solves a pain for a group of people so damn well that they beg you to take their money in exchange. If you can build that, you'll achieve your financial freedom goals.
This comment was deleted 3 years ago
From a purely logical perspective. You copy product and change to new language (lots of work and money), you launch product, original creator notices, waits to see if you are successful, if you are they simply add the language and use there expansive resources and SEO to make your project worthless (very little work and they win).
If you have a better product idea along the same line please do it (think Facebook and Myspace, or IE and Chrome). If not it is a complete waste of time and human life.
Sounds terrible :)
Instead find a problem and talk with potential customers. Have a look at the mom test to do proper customer interviews.
A product is the hardest way to financial freedom.
If that is all you want then pick a high paying skill, become great at it and save 60-70%+ of your salary. Then you're free in 10 years.
Saving 60-70% of your income during 10 years is also a terrible idea, you have to do something with your money, if not, it will become worthless thanks to inflation.
What's wrong about copying a succesful product? I mean, you know there's market, there are tons of application of the same. Ofc what you can't do is copy it exactly the same, maybe the concept can be similar, a Travel app for example, but you have to innovate and add your own touch.
Ofc, copying the same product and only changing the language, is indeed a very bad idea.
You don't keep the money as cash you invest into the stock market. Look into FIRE.
You need to know how to market to the audience and you might not have a profitable way to do that. So copying is useless.
Copying and changing language is fine if the market exists and you have a way to get customers.
Agreed. What do you mean by FIRE?
https://en.wikipedia.org/wiki/FIRE_movement