Don’t Reinvent the Wheel

by Jean-Eric Plamondon | 5 Feb, 2025 | Scalable Business Model

The short answer: Don’t reinvent the wheel, because only a small percentage of your business is truly unique. Usually it’s 80% common to all businesses, 15% common to your industry and 5% truly unique. Where best practices and well-tested systems already exist, it’s fastest, easiest and most economical to adopt what has already been proven to work.

Only a small percentage of your business is truly unique.

Most businesses function in a similar way to other businesses – areas like accounting and financial reporting are generally the same regardless of your industry.

Then you have some functions that are specific to your industry. For example: most legal offices run in a similar way, the practice of law is the same, the regulations are standard.

Then there are one or two things that make up your “secret sauce” – the things that differentiate you from others in your industry.

These may require – or benefit from – a customized fully tailored approach built from first principles.

But in areas where best practices and well-tested systems and procedures exist – it’s fastest, easiest, and most economical to adopt what has already been proven to work.

Don’t reinvent the wheel.

Usually it’s 80% common to all businesses

15% common to your industry

5% truly unique

Common questions

How much of a business is truly unique?

Usually about 5%. Roughly 80% is common to all businesses, in areas like accounting and financial reporting, and 15% is common to your industry.

Which parts of my business need a custom approach?

The one or two things that make up your secret sauce, the things that differentiate you from others in your industry. These may require, or benefit from, a customized fully tailored approach built from first principles.

What does the industry-specific part of a business look like?

These are functions specific to your industry. For example, most legal offices run in a similar way, because the practice of law is the same and the regulations are standard.

Why adopt proven systems instead of building your own?

In areas where best practices and well-tested systems and procedures exist, it’s fastest, easiest and most economical to adopt what has already been proven to work.