Building in Public February 23, 2021

Important tip: Unique concept vs something that already exist

Raza Rizvi @answerly

Let me ask you something, would you prefer working on an idea that already exists or something that's totally unique?

I think, most of us would prefer the latter. However, here's one important lesson that I've learned while working on Answerly.app

Its much better to work on an idea that's already there. Your product doesn't have to be the first in the market. Google wasn't first and neither was Facebook, Twitter, Pinterest, etc. I can go on with this list.

From an investors point of view, its much better to work on something that's already there - just try to be the better version of an existing service or platform.

Benefits

  • Proven business model - low risk
  • Preferable by investors
  • Easy to gain users
  • Easy to replicate - this include design, features, pricing, etc.
  1. 1

    Implementing your own idea is so much more fun than copying someone else's.

    But,

    Look at what Elon Musk does. He has this idea of getting people on Mars, but to get there he uses a much more trivial idea of cheap shuttle flights to the Space Station and launching commercial satellites.

    So maybe you need to get your first million by playing safe, and then use it to fund your unique (but, hopefully, profitable) idea.

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