I remembered discussing an idea with my dad and at this time, it looked like the most amazing thing to me with the intention that no one had such idea. I was talking to my dad about it but my dad wasn’t into the school of taught were people can start a business without being employed first. He made it clear to me that I had to go look for a job when I was done with school. Although I pushed further but he was adamant. After a while, I saw that a company with funds and a bigger competitive advantage over me brought the product to the market. I felt very bad for not being the first to come into the market but if I had wanted to manufacture the product, there is a high chance that we would get into the market at the same time.
Never think that an idea is solely yours with the aim of doing it later since you do not have it welled planned. When you are thinking of an idea, be sure that there are a lot of other people who are thinking, trying to solve problems and a lot of them might even be faster than you are and that is why a lot of the products and services get to the market at the same time as there are a lot of people looking at an opportunity and want to be able to harness it by given serving the consumers the best but on getting there, you get surprised.
It is a free market with people who have free minds, the market do not care about who brings a product or service, the market is concerned about solving problem to make profit. One reason to always be the first in any market is because of the competitive advantage over others who would come behind.
Concluding tips
- Ideas are free
- You are not the only one having the idea
- The market is free for everyone
- Competitive advantage often favors the first players in the market.