I strongly believe in innovation and creativity. Therefore, I urge all of you to declare yourself as a fundamentally new, original brand.
And at the same time, I cannot deny the fact that there were other incredibly successful startups who earned millions by creating clones of foreign ideas. And as a “bonus” – the general anger of colleagues in the shop.
“Good artists copy, great artists steal” – Pablo Picasso.
Even Steve Jobs said that Apple is “shameless” when it comes to stealing great ideas.
The fact is that the advantage of being a pioneer is often dubious. Let me explain: being the first on the market can mean and failing first.
Life does not stop proving that it is not necessary to be the first in the industry to succeed. Being second has its advantages.
You can improve what your predecessor did not succeed in. You do not need to spend time creating an MVP (Minimum Viable Product) to test the market. It will also be easier for you to conduct a study, get information about potential consumers and get important insights. And, importantly, to attract the attention of investors.
However, mindless copying of an existing product will not help you get around its creators. Unless, of course, there is no unoccupied market that, for some reason, was not developed by the pioneer company. Remember that you must provide value beyond what has been suggested by your predecessors.
This means that you must better solve the problem that you could not solve.
Thus, you can re-segment a larger market (and more than once).
In large markets, as a rule, there are large players, sometimes one or two. They control his lion’s share. And this is an advantage for you, because there are always segments that are not satisfied with the solution proposed by the monopolistic giants.
Therefore, your task is to find out the main problem in these segments, find the best solution and provide it.
After all, the point is not to be the first. The bottom line is to be the best.
Successful examples of companies that were not the first, but managed to become market leaders or, at least, win a significant part of it:
One of the most common mistakes among young startups is the desire to become the next Facebook, Google or Uber. These guys spend time puzzling themselves about how to become the next Mark Zuckerberg or Ilon Mask.
As a rule, these startupers naively believe that they will certainly create something that will definitely win universal love and honor. They believe that their product will produce at least a revolution, at a maximum a worldwide revolution. And by doing so, they will forever enter their names in world history and culture.
I am certainly for healthy ambitions. But the guys miss one important point – these same business titans did not succeed in one night.
The same Facebook was originally created only for Harvard students, and eventually spread to other Ivy League schools. Not immediately, he became the powerful conglomerate that he is today.
Google appeared when the Internet space was much smaller than now. And not everyone used this search engine.
The secret to a successful start in business is to have a clear understanding of who you are creating your product for. “Everyone needs our product” is a strategy that is doomed to failure. Determine whose life you want to change for the better. Start with a small segment.
Satisfy the needs of this audience in the best way and only then scale to other markets.
When you decide to launch a startup, you must be sure that you have at least a few users who are really interested in your product. Not only those who can take advantage of it in some way, but people who right now really need your idea.
“You can always choose: to create a little something that a lot of people want, or to create a lot of something for a few people. Choose the last one. “Not all of these ideas are good for a startup, however, almost all good startup ideas are.” – Paul Graham, co-founder of Y-Combinator.
Choose a small audience and learn how to cater to their needs and desires. Once you succeed with one audience, you can expand the service and further develop your business.
Facebook . The largest social network in the world began as a social network for Harvard University campus. Then it became available for other US universities. Later – for students of other countries. And only after the system was developed by students, the social network began its expansion into other market segments.
Ready to come up with a great idea for your startup?
I shared with you five effective ways to create a great business idea.
If you were careful enough, you could not help but notice that many successful companies combine more than one element in themselves. In fact, it is.
It’s time for you to focus on finding a great business idea. An idea that would solve your personal problem, aroused a sense of obsession, looked to the future, was aimed at a specific audience and created more value than all other players in the market.
Get down to business!