It's gotta be new.

I don't know why it is that so many entrepreneurs want to come up with an idea that no one has done before. Is it ego? Or is it because if it's not the new new thing it is no good? If someone has done it already is there no way you can compete? Or is it too much Star Trek exhorting us to go where no man (person) has gone before?

To be honest, I think ego has a big part in it. It is such a kick to think up something new and different. You talk it over with a bunch of people and they're all excited because they've never come across it either, and it's all euphoric until you find someone else not only had a similar idea, but has got there first. But realistically, if you come up with a good idea, chances are there are other people like you who've come to a similar conclusion. There are very few original ideas. Mainly because there are very many smart people around (yeah!).

This can bring one to full stop. If you notice this theme in the past few posts it is because I'm going through this experience right now. For three months, I was doing my research and I talked to a lot of people who would be potential customers. They loved what I was proposing and could think of only one option that was currently available, but it wasn't quite suite to their needs. Yes, it was exciting to see an unfilled need and dream up a solution. But I think having done this made me both pragmatic and resilient. I didn't quite believe that no one had thought of this yet, and if that was truly the case, there must be a good reason for it. And then from a chance conversation with a friend I found another company that's doing something similar, though not exactly the same thing.

In a way, it was a relief to see someone else out there, it's easier to ride in their wake. There are many investors who'd advise you to not be the first, as you'd be the one with the arrows in the back - its not called the bleeding edge for nothing. And as I've mentioned before, competition is a good thing. So, it's now all competitive analysis and more research, and I think it'll turn out all right.

But all said and done, if you do come across something absolutely new and never before done, and you're convinced it is the next big thing, and you can make it happen - that would be an amazing ride and the sweetest thing. Go for it.