How do I continue plans for my business or product if I find that someone has already gotten ahead with the same idea?

By Tim Berry

Opinions expressed by Entrepreneur contributors are their own.

Two years ago, I had a great idea for a product/service and recently started developing it only to find out it already exists! But I think there might still be some hope for me. Although the website for the product is detailed, it doesn't appear that the company has done much of anything with it in terms of sales. How can I continue working on my idea?
Don't worry about it, ideas are a very small part of a successful business. Apple wasn't the first personal computer company, Ford didn't build the first car, McDonald's wasn't the first hamburger fast foods business and Google wasn't the first Internet search engine. Do what you're trying to do well, give your customers value for their money, and don't break the laws on intellectual property.

I've written about this several times on my blog "Up and Running" here at Entrepreneur.com"

Ideas are Easy, Doing Stuff is Hard

Also, you'll like this one, on my Planning Startups Stories blog:

Second or third mover advantage

It's answering this same question, although it was a while ago ...

Tim
Wavy Line
Tim Berry

Entrepreneur, Business Planner and Angel Investor

Tim Berry is the chairman of Eugene, Ore.-Palo Alto Software, which produces business-planning software. He founded Bplans.com and wrote The Plan-As-You-Go Business Plan, published by Entrepreneur Press. Berry is also a co-founder of HavePresence.com, a leader in a local angel-investment group and a judge of international business-plan competitions.

Editor's Pick

A Father Decided to Change When He Was in Prison on His Son's Birthday. Now His Nonprofit Helps Formerly Incarcerated Applicants Land 6-Figure Jobs.
Lock
A Teen Turned His Roblox Side Hustle Into a Multimillion-Dollar Company — Now He's Working With Karlie Kloss and Elton John
Lock
3 Mundane Tasks You Should Automate to Save Your Brain for the Big Stuff
Lock
The Next Time Someone Intimidates You, Here's What You Should Do
5 Ways to Manage Your Mental Health and Regulate Your Nervous System for Sustainable Success

Related Topics

Business News

After Being Told They Could Work From Home Forever, Employees Made Major Life Changes. Then, a New CEO Ordered Them Back to the Office.

Farmers Group CEO Raul Vargas is facing backlash for the change, but he says being in the office brings more "collaboration" and "innovation."

Marketing

5 Ways to Build and Maintain Valuable Relationships With Journalists — and Why It Matters

Building genuine relationships with journalists is essential in today's digital media world.

Business News

Uber Eats Deliveries Are Flooding a Los Angeles Neighborhood — Except No One Knows Who Placed the Orders

Residents of L.A.'s Highland Park neighborhood are once again the target of dozens of unsolicited Uber Eats orders. The "annoying and somewhat disturbing" mystery is gripping the city.

Business News

Hedge Fund Pays NYC Interns $20,000 a Month on Average, Sent to Lavish Palm Beach Kickoff

Citadel is known for its over-the-top parties and company retreats.

Business News

Pete Davidson Says He's 'Figuring It Out' After Buying a $280,000 Boat While 'Very Stoned'

The former "Saturday Night Live" star purchased a used Staten Island Ferry with Colin Jost in January 2022.

Money & Finance

3 Secrets to Streamlining Your Accounts Payable Process

Not all AP automation software is created equal. Leveraging the right AP solution that aligns with your unique vision and available resources will ensure your business grows without compromising its individuality.