5 reasons why originality is not important in creating a successful business every time

TLDR:

After reading this headline, you’re probably thinking that we’re going to list out what business ideas to steal from A to Z. You may even be thinking that we’re going to tell you what pyramid scheme has a proven high success rate. But it’s not anything within those lines.

Not every business is built on entirely novel ideas, especially in third-world countries for example where entrepreneurs often create a business that’s clearly inspired by a very successful idea in the USA.

These entrepreneurs don’t necessarily find success solely because they’re the first ones in the country to do something like that, but because of a structured vision behind the business. As we explain, you don’t have to be living in a third-world country to leech off the success of vastly lucrative ideas, for here are 5 reasons originality is not important in founding the next big thing.

It’s not hard to come up with an idea deemed innovative, for when it comes to your imagination, the possibilities are literally endless. With any idea, it’s how you execute it that’s one of the most influential factors that makes or breaks your business. Just look at all the major fast-food chains. Most of them offer menus that are eerily similar, but what it boils down to is how efficient operations are executed internally and externally, quality maintenance, and how good the customer service is, for fast food is all about how quickly you get your food and the standards set for such price points.

It is very often seen that when a business idea skyrockets in popularity, many people will jump on the trend. While most of them replicate the idea as it is expecting it to work with zero effort, smarter individuals will identify pain points, inefficiencies, and shortcomings that they’d look to improve on to further maximize the magnitude of the idea. A prime example is Apple’s first iPhone. Though it wasn’t the first smartphone, it was revolutionary in how it offered a far more user-friendly experience and a sleek design complemented by an abundance of apps and services. It is now considered the gold standard for all smartphones.

As Alex Hormozi says in his offers course, “the riches are in the niches.” The more you can niche down an existing idea and offer a specialized solution to a very specific audience and demographic, consider it game over for many other competitors branching off the same idea. Take specialized online stores that cater to niche hobbies and interests. Though not entirely original, they develop a loyal customer base by offering unique and tailor-fit products and services within their niche.

Trends are constantly changing. What’s hot this week will be completely different from the previous week, and this dynamic principle is just as applicable to the business market. Look at how many brick-and-mortar stores have shut down post-pandemic. While most of them have shut down for good, some of them have also moved on to a space that is very saturated in e-commerce in a bid to stay relevant with newer generations of customers.

It can be a strategic move to enter an established market, even if you’re not introducing something groundbreaking. You can enter the market by offering better value, superior customer service, and a more efficient business model for a currently existing idea. Uber and Airbnb didn’t exactly take the lodging and transportation markets by storm, but rather they disrupted it by offering consumers a more convenient, cost-efficient, and user-friendly alternative. Just remember that you don’t need to invent the lightbulb like Thomas Edison to break into a market. Oftentimes, being able to market or further improve a currently existing business idea is more than enough to put your foot in the door.