Why Your Idea Doesn't Exist? | Dilnawaz Khan

Summary

The speaker discusses the improbability of having a truly unique idea, suggesting that if an idea hasn't been attempted before, it's likely due to past failures or current market challenges. They outline three reasons why a startup idea might not exist in the market: it's either unprecedented (which is rare), many have tried and failed, or numerous players are attempting it without success due to high competition and scalability issues. The speaker emphasizes the importance of considering these factors when evaluating the viability of a new business concept.

Takeaways

• 💡 The rarity of an idea that hasn't been thought of before is extremely low, suggesting that most ideas are derivatives of existing problems.
• 🤔 There's a high probability that if an idea hasn't been realized in the market, it's because it has been attempted and failed in the past.
• 🏗️ The absence of a company or idea in the market could be due to various factors like team, funding, technology, ecosystem, and timing that did not support its success.
• 🔍 If there's zero competition for an idea, it might indicate that many have tried and failed, rather than it being a completely untouched opportunity.
• 🛑 The lack of a market leader in a particular space could be due to the presence of many players executing the same idea in isolation, without achieving dominance.
• 🛍️ In some markets, like grocery delivery, there are numerous local businesses but no overarching market leader, indicating a crowded and possibly unscalable space.
• 👕 The laundry and rental businesses are examples where the market is not dominated by a single leader, suggesting high competition and lack of differentiation.
• 🚫 High logistics costs and lack of entry barriers can make certain businesses, like local grocery delivery, difficult to scale and dominate.
• 📈 The script suggests that the reasons why an idea doesn't exist in the market are either because it's practically impossible, many have tried and failed, or many are trying without success.
• 🔑 The success of a startup or idea is not just about the novelty of the idea but also about the market conditions and the ability to execute and scale.
• 🌐 The existence of market leaders in various sectors, such as food delivery and e-commerce, highlights the importance of innovation and execution in achieving market dominance.

Q & A

What is the speaker suggesting about the uniqueness of ideas in the market?

The speaker suggests that it is highly improbable for an idea to be completely unique, as most ideas are derivatives of existing problems, and it's likely that someone has already tried to solve them.

What does the speaker imply about the chances of working on an idea that has never been done before?

The speaker implies that there is a 99% chance that you are wrong if you believe you are working on something that has never been done before, as most ideas have been attempted in some form by others.

Why does the speaker believe that if an idea is not available in the market, it might indicate a problem?

The speaker believes that if an idea is not in the market, it could be because many people have tried and failed due to various factors such as team, funding, technology, ecosystem, and economy.

What are some of the factors that could have prevented a company from becoming a market leader, according to the speaker?

The speaker mentions factors such as team, funding, technology, ecosystem, and timing as potential reasons that could have prevented a company from becoming a market leader.

Why might a business idea not become a market leader despite having many players in the market?

The speaker suggests that a lack of entry barriers, overcrowding, and high logistics costs could be reasons why no single player has become a market leader in certain spaces.

What are the three reasons the speaker provides for why an idea might not exist in the market?

The three reasons are: 1) It's a rarity and has not been thought of before, 2) Many people have tried it and failed, and 3) Many people are trying it now, but no one has become a market leader.

What examples does the speaker give of market leaders in different sectors?

The speaker gives examples such as 'Sukin' in food delivery, 'Amazon' and 'Flipkart' in e-commerce, and 'Discovery' in healthcare delivery.

Why does the speaker think the grocery business is an example of a space where no market leader has emerged?

The speaker believes the grocery business lacks a market leader due to the presence of local grocery delivery businesses in every small city and the high logistics costs making it unscalable.

What is the speaker's view on the laundry and renting business in terms of market leadership?

The speaker views the laundry and renting businesses as spaces where no market leader has emerged yet, possibly due to the lack of entry barriers and the heavy overcrowding of the market.

What does the speaker suggest about the likelihood of finding a completely new idea in the market?

The speaker suggests that finding a completely new idea in the market is extremely rare and practically impossible, implying that most ideas have already been explored.

What advice does the speaker seem to be giving to startups regarding market competition?

The speaker advises startups to be aware that if there is no competition for their idea, it could be a sign that others have tried and failed, or that the market is overcrowded with similar businesses.