Every idea you can think of has probably been conceptualised in some form or another. There's a sea of 'original' ideas out there. But does that make your idea any less valuable? Absolutely not. The real game-changer isn't the idea; it's the execution and, yes, a sprinkle of luck.
Lately, I've been amongst numerous folks with brilliant innovative ideas but are either too timid to share them or assume they're not worth pursuing because "it's all been done before." Well, here's a little nugget of truth: ideas, in themselves, aren't that precious. Shocking, right? But stick with me.
Case in point: I was at a FinTech conference in New York last year. Among the events was a pitch session, which I attended more out of curiosity about American pitching styles (that's a story for another day). But here's what blew my mind: out of 10 pitches, 6 were essentially the same idea – monitoring communications within trading firms to prevent insider trading. The same stats were regurgitated to the point of comedy.
Now, you'd think this was overkill. Surely there's only room in the market for one or two of these, right? Wrong. Each of these startups, despite sharing a core idea, had secured funding, built substantial teams, and developed a customer base. They understood that the uniqueness of an idea wasn't their ace in the hole – it was how they executed it.
These founders realised that the real 'niche' isn't the idea itself – remember, it's probably been done before. It's the unique angle you take, the way you integrate it with other technologies, your emphasis on customer satisfaction or support, or your specific market relationships that carve your niche. That's the recipe for success, with a dash of good fortune, of course.
So, the next time a brilliant idea strikes, don't hold it close to your chest. Share it, collaborate, seek feedback. If I, or anyone else, can take your idea and run with it without you, then the idea wasn't your most valuable asset. It's the arduous journey of development, sales, and business growth that separates the dreamers from the doers.
And hey, if you've got one of those great ideas, let's talk. At Imminently, we're in the business of transforming ideas into reality with our hyperscale Fabric technology. We thrive on great ideas and can't wait to help you navigate your startup journey. Who knows? Your 'not-so-original' idea might just be the next big thing, waiting for the right execution.
