The Vicious Cycle Continues...

[bmarone]

Well, again, it looks as though I'm going back to square one. For a while now, it seems like I can't break the vicious cycle of developing an idea, getting psyched about it, looking into the idea further, seeing that there is already a service(s) for that market, and dropping the idea only to get back to square one.

I'm the type of person who needs a more rigid, structured process in order to get things moving. Without having an idea as to what type of market or demand to cater to, it seems like I'm in a stall. Yes, I know you must work hard to get anything moving, but the thing is, if you don't know where to start, you can't really do the work.

So, how do some of you on here start your research on a market need? Is it as loosely defined as just surfing the internet until you find something worthwhile, or is there something that can be done in a little more organized fashion?

 

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[MJ DeMarco]

For a while now, it seems like I can't break the vicious cycle of developing an idea, getting psyched about it, looking into the idea further, seeing that there is already a service(s) for that market, and dropping the idea only to get back to square one.

So, how do some of you on here start your research on a market need? Is it as loosely defined as just surfing the internet until you find something worthwhile, or is there something that can be done in a little more organized fashion?

Wow. You've got this thing all wrong.

So let me get this straight...

In your mind, if somebody's doing it, the opportunity isn't worth pursuing. In other words, Coke should exist without Pepsi. Facebook should exist without Twitter. Folgers should exist without Tasters Choice. United Airlines should exist without American Airlines. McDonalds should exist without Burger King.

You are being beaten by a false belief; one that is limiting, destructive, and unrealistic.

You will NEVER find a monopoly on any idea or opportunity, if you do, there's no money in it.

Is Fastlane the only entrepreneurial forum?

The opportunity isn't in your idea (event) its in your execution (process.). And your execution (and conveyance of value) will need to be better than what is already out there.

The Vicious Cycle Continues...

As it should... at least until you change what's going on in your mind.

 

[Allan Black]

Read Chapter 29 & 43 of the Millionaire Fastlane .

Also, this video from MJ DeMarco:

How You Can Uncover The Next Millionaire-Making Idea!
http://www.youtube.com/watch?v=req5UVYzwko

To answer your question more specifically; find a problem, solve the problem.

 

[Allan Black]

The opportunity isn't in your idea (event) its in your execution (process.). And your execution (and conveyance of value) will need to be better than what is already out there.

Couldn't have said it better

 

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[johnp]

Well, again, it looks as though I'm going back to square one. For a while now, it seems like I can't break the vicious cycle of developing an idea, getting psyched about it, looking into the idea further, seeing that there is already a service(s) for that market, and dropping the idea only to get back to square one.

I remember back in 2011 I started building my platform. I became consumed with trying to create new and trendy features and services that were never tried before. The features all made sense on paper. But from a programming POV, they were a nightmare. And logistically...even worse.

Then one day I realized that I was striving to create new and complex features ONLY because I was afraid to COMPETE. That was a turning point for me.

Personally, I want to see competition. I want to see people bidding on the same keywords or selling the same shit as me. At least I know that there is a market for it.

Don't be afraid.

 

[bmarone]

True... I do know that many times, in the entrepreneurial world, it's not what you can do that has never been done before, but what you can do better or more efficiently than what's already out there.

I think the question should then be: how could I find the delicate balance between doing something even better than what's already being done and making sure that the market is not already flooded with several different attempts at doing that "something" better?

 

[johnp]

I think the question should then be: how could I find the delicate balance between doing something even better than what's already being done and making sure that the market is not already flooded with several different attempts at doing that "something" better?

I think it's simple. Just do it better. Work harder. I'm competing with sites like theLadders.com and Career Builder. When someone signs up to my site, I usually send them a personal message, "Hi ___, my name is John P***************************, I'm the CEO" and then I personally try to connect with them. I'll go out of my way to give someone advice..This goes a long way.

Notice that I didn't change a single thing programming wise. I didn't create a new feature. I made the value = myself. A lot of founders don't do that stuff, especially for the big sites.

Chances are that you competition has more money & resources than you. But who is to say that they don't have more energy? Over deliver in value.

 

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[Vigilante]

You're afraid.

You're an action faker.

You have analysis paralysis.

You get far enough in that you think you are going to finally get off your a$$.

You fear.

You quit.

That's the cycle.

It's not as kind of a cycle as you described for yourself.

Wake up.

Be honest.

You have to start there.

You have to get up off your a$$.

You have to take risks.

You have to face fear.

You have to do it anyway.

Or shut the F*ck up as you live in the chains you constructed in your mind.

The world will applaud you as you do...nothing.

Are you one of them? Or are you one of us?

You should more terrified of your own inaction than you are of failing.

Do.

Something.

Learn by doing.

Fail.

Then get up.

And do it again.

Better this time.

Better next time.

Stop waiting for a F*cking lightning bolt.

The lightning bolt is not coming.

Opportunity comes disguised as hard work.

This may be your only real chance to get some honest feedback that might save your life.

It starts by you

getting off your a$$

taking a risk.

And becoming...something.

You think this is bullshit?

You think this is ambiguous?

You only hear what you want to hear?

I took 5 minutes to write this for you because I am cheering for you.

But for God's sake.

Stick a stake in the ground.

Start something.

Fail at something.

Regroup from something.

Start today.

Stop wasting time. Stop F*cking daydreaming.

You've been here since 2011. I bet 1,000 businesses have been started by people on this forum... since you joined.

 

[Vick]

Then give it a good blast from your spice weasel.

Bam!

 

[socaldude]

Seriously, you are having problems you shouldn't even have in the first place. You are wasting time. At the end of the day consumers don't give a F*ck about you and your problems or insecurities or doubts.

Isn't this why we are all here? To make money? To benefit others?

If you have something that can benefit me, hurry the F*ck up and bring it to market so I can give you money. I don't care what it takes; pain, uncertainty, doubt etc.

Nothing else matters. Give me what I want and I will give you money. Forget about competition and your own problems and doubts.

Money making transactions are indifferent to all the shit you are going through right now, the only thing that matters is benefits and value. If you have something that can benefit me then hurry up, F*ck competition and your own fears. Nobody cares that you have a car loan, nobody cares that you are scared about competition, nobody cares about your D- school grades.

Put all your effort and focus into making transactions happen. How do you do that? By successfully delivering and communicating value to consumers so they can give you money. At the end of the day this is ALL that matters. F*ck competition and F*ck your fears and F*ck your own problems.

My post was to hopefully give you a no nonsense approach. Just F*cken do it.

 

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[freedomfighter]

just do something, anything just to get started!

 

[liquidglass]

I'm the type of person who needs a more rigid, structured process in order to get things moving.

If this is true and you're not willing to think outside your own box, then you just described a job and a boss. You described what millions of people do every day. They work for someone else's dreams because that person gave them the rigid, structured process to get things done.


Sounds like a Burger flipping line to me.

if you don't know where to start, you can't really do the work.

Start ANYWHERE!

There's no definite beginning or ending to achieving a dream and making something work. You start, then you learn the other things that need to happen.

See your bullseye then figure out how to get the arrow to it.

But shoot the damn arrow! You'll miss every shot you don't take.

 

[MooreMillions]

I am going to go back to read the thread, but I can already tell you: you're missing it...your paradigm and premise are ALL off!

Answer this question: for every service and product out there, is there only ONE provider for that vertical? Yes or no?

That means that everybody that is NOT number one in a particular vertical would NEVER exist because someone was already in that vertical.

Everyone talks about Ford, but there was Cutlass.

Bill Gates and Microsoft were first to market for personal computing, but it did not stop Steve Jobs, and not to mention Larry Ellison focusing on computers in the business sector.

Kodak and Polaroid and Canon and Nikon.

HP and Xerox.

Titleist and Callaway.

The list goes on and on and on...it's called competition.

Your job is to find out what your competition MISSED or could do BETTER, but is not.

That's YOUR job, because there is NOTHING new under the sun.

You have probably already come up with a million dollar idea, but shelved it because you weren't "first" to market.

I'm telling you this because I am a recovering paralysis to analysis person and I want time to matter enough to you to where you don't waste it.

 

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[Vigilante]

bmarone was last seen:
Oct 28, 2013

 

[MJ DeMarco]

bmarone was last seen:
Oct 28, 2013

Perhaps the vicious cycle continued...

 

[bernieshawn]

Perhaps the vicious cycle continued...

Well, I got value out of this thread

A related question:

You can successfully enter into any market with a good USP, regardless of competition.

Agree or disagree?

 

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[Vigilante]

If you have a Unique Selling Proposition, by definition you should have a competition killer or at least a significant differentiator.

However, I don't think there is a one answer fits all. I would not enter into the cola industry, for example. Coke and Pepsi would kill me.

We tried to enter into the tablet arena. There are three players in tablets. There's Apple, and much smaller there's Samsung, and everyone else fights over the 4-5% that is left. All of the other brands compete for less than 5% of the market in tablets. That's not changing any time soon. So, I am not going to enter the tablet industry.

USP is judged purely (in my opinion) based on finding a flaw or achilles heel in a competitor. In the case of Coca Cola and Pepsi, they don't have one or RC would have found it already.

However, if you have a competitive edge in a category that is vulnerable, that's how you win.

Don't beat your head into a brick wall unless there's a pretty compelling chance you are going to break through it and get to the other side.

 

[mzee99]

You're afraid.
You're an action faker.
You have analysis paralysis.
...

I just put that whole post on my wall

 

[MJ DeMarco]

Agree or disagree?

It isn't that clear cut, or absolute.

You can have the best product in the world, but if you cannot convince someone to buy it, you won't sell a thing. Communication of value is critical, backed up by a product the delivers.

 

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[scottpig]

I'm the type of person who needs a more rigid, structured process in order to get things moving. Without having an idea as to what type of market or demand to cater to, it seems like I'm in a stall.

I realize this is an old post, but...

Check out Running Lean by Ash Maurya. It is all about a structured process for validating and acting on a business idea.