Innovators, imitators, and impostors: vetting point solutions

Navigating the Landscape of Innovators, Imitators, and Impostors: Buyer Beware

In today’s fast-paced market, we’re bombarded with point solutions targeting real problems. But with this abundance comes a critical question: How do you distinguish the genuine article from the proverbial snake oil?

Let’s break it down:

Innovators

These are the trailblazers who deeply understand the market, the regulations, and the customer’s needs—often even better than the customers themselves. Think of them as the hockey player who skates to where the puck is going to be, not where it has been.

Imitators

Fast followers who learn from the innovators. They might enhance offerings based on observed lessons or offer more affordable solutions by leveraging the R&D of others.

Impostors

Those who pretend—and might even believe—they’re innovators but offer solutions that are too good to be true. They might engage in questionable practices like tax fraud, non-compliance, or skirting laws and consumer protections.

So, How Do You Tell Them Apart?

1. Ask the Right Questions: Dive deep into their offerings. What problem are they solving, and how?

2. Know the Rules They Must Follow: Familiarize yourself with the regulations in your industry to spot non-compliance.

3. Verify Their Answers: Cross-check their claims with credible sources.

Don’t be swayed by social proof alone. If someone is selling insurance but isn’t licensed in your jurisdiction, it doesn’t matter who they claim is “about to become a client.”

Join the Conversation
• What strategies do you use to vet new solutions or partners?

Need Assistance?

If you’re need help finding the right questions to identify genuine solutions, feel free to reach out. I’m happy to help.