It never fails. You come up with a completely and utterly innovative idea for a start-up or a product - something you know nobody has ever done before. You pitch it to a couple of folks you trust, and know will "get it." They love it. They encourage you to pursue it. Now you're really fired up.
You dig in and start doing some real work, the ideas are flowing. Then your buddy emails you some link about a thing that is just like the thing you're working on. Before you know it, similar things start coming out of the woodwork. Even you're mom's sending you stuff. Now, you're really depressed.
Quitting, and cutting your losses may seem like a good idea. Or you could suck it up, and accept that others will have the same idea as you did, no matter how novel you thought it was. In fact, it's better if your idea isn't so new that no one else is doing anything like it. Having someone go before you can make your job easier. Besides, most first-to-market players are better at creating demand than fulfilling it. Learn from their mistakes and missteps. Then differentiate yourself by going after other solutions, market segments or strategies they're neglecting.
If you worry too much about being first, you'll just get nowhere sooner.
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