Everyone I speak to about starting a business (well those who do not have one) always tell me 'You need a new idea' or they shoot down my ideas as not being radical enough or not being original.
I am a member of the magic circle, and once I was told by a very knowledgeable magician that there were no new magic tricks, only old tricks re-invented or with a twist on an old principle.
Maybe this applies to business as well? How many new ideas have made people lots of money in the last 5 years?
Now how many successful businesses have been created offering the same as an existing business, but maybe better or in a slightly different way - lots that’s how many.
Take E-Bay for example. It makes millions of pounds every year Was it a new idea - No. Auctions have been around for many many years. Was it a twist or update on an existing format - Yes. E-Bay took advantage of a new technology and paired it with an format already in existence, and used it to make a success.
Also, the problem with 'new ideas' is how is a one man band or start up company going to implement it?
Very difficult to do with limited resources and capital. How easy it would be for that idea to be ripped off by large companies who could replicate it in no time at all, leaving you with nothing.
The more I write about it the more I feel I need to take an existing concept and add value to it, maybe open it up to a new audience or provide better Customer Service.