4 ms·
For some reason, I thought about survivor bias. You are right that not all successful business started with an original idea. You are right that not all of the
by victorronin 6y ago
For some reason, I thought about survivor bias.
You are right that not all successful business started with an original idea. You are right that not all of them required significant upfront investment, and you are right that there are great newcomers who find a niche in an established market.
There is only one thing you are missing. How many businesses like that have failed. Is it 1%, 10%, 50%, 90% or 99%? I would guess that it's somewhere upward of 90%. BTW. And you won't even hear about failed companies because these 170 competitors are survivors.
Having capital increases your chances of being able to experiment and find market fit.
Having limited competition increases your chances of being noticed.
Having a fresh (doesn't have original) idea helps you laser-focused on what you are trying to solve.
BTW. I am not trying to discourage you from trying. However, if you want to try, I recommend doing this with your eyes open.