Far too many entrepreneurs exhaust hours of effort in a vain attempt to build a better mousetrap. It's been done! A far better strategy is to look for a successful concept that you can learn from and adapt to your market's needs. Although you have to be careful not to infringe on any patent, trademark, copyright, or other form of legal protections, there are countless examples of shrewd entrepreneurs who have made significant money by coming up with their own version of a currently successful product or service.
Excerpted from Starting a Home-based Business