TLDR:
- You are tapping your purest form of creativity, not bound by anything
- Extra exigence to bring forth to the world an idea never seen before
- A unique differentiator in any market you find yourself in
- You’ll highly likely have a very niche idea. The more its niched down, the more you can compete at a category-of-one.
Understanding the purest aspect of entrepreneurship
By definition, entrepreneurship means an individual who has an idea and acts on it, with the intention of disrupting the currently existing market with a new product or service.
However, a lot of the time, people who immerse themselves in this world are typically expanding on already existing ideas, or simply enhancing them in some way, shape, or form.
But what if your idea and vision come from scratch, acting on the literal definition of entrepreneurship?
What does it all mean?
1. Purity of Creativity
Essentially, you’re starting on a blank canvas, allowing you to tap your purest form of creativity for the idea you have, for there are no constraints you are bound by. No preconceived notions, no templates to follow, and no established norms to adhere to. In this case, the sky literally is the limit.
2. Authentic Problem Solving
Original ideas almost always stem from the depths of authentic problem-solving. There is extra exigence by a genuine need to address a particular issue or challenge with an idea the world has never seen before.
3. Extra Competitive Advantage
As obvious as it may be, to have a completely unique differentiator in a market that may be extremely saturated is easily a massive competitive advantage. It allows you to set yourself a part from the competition and position yourself as a unique player in the industry.
4. Competing at a Category-of-One
The odds are that the idea you come up from scratch being niche is very high. And as Alex Hormozi would say, the more niche, the better, as demonstrated below.
By competing as a “category-of-one” product, you’re no longer constrained by the pricing of the industry, but rather, you have the leverage of selling your product at a high premium, for you’d be serving a unique avatar by solving their specific problem in a unique way that reverses their biggest objections.
The more you niche down, the less you also have to worry about mass markets already occupying space.
5. Related Links
The importance of niching your idea to the max
Remember that at the end of the day, not everyone can become an entrepreneur; you have to have a decently high-risk tolerance and also be patient. But what’s more is that even fewer people can become entrepreneurs of a truly unique idea, just ask Steve Jobs.