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Quid pro quo: what percentage does originality contribute to success and greatness? Is it more than 20%? How did you arrive at the percentage? Does the percenta
by harrylove 12y ago
Quid pro quo: what percentage does originality contribute to success and greatness? Is it more than 20%? How did you arrive at the percentage? Does the percentage change based on the vertical, the market, the greater market cycle, the country, the entrepreneur, et cetera? If so, how?
If you, as a VC, can't answer those questions, then asking me how original my idea is has no value. If the answer is that originality contributes less than 20%, why should I focus on it?
If the real question is, have I thought about my competition and do I have a strategy for beating them, ask me that instead. Further, if I haven't thought about my strategy yet, aren't you then looking at my potential to learn, devise, and execute a strategy? Aren't you asking yourself, is this a person who has done great work but needs guidance and can I work with this person?
And I'll go a step further. What percentage of the 75% of failed VC backed companies had an original idea and/or knew their competition, and had a great strategy?