Why Your Idea Doesn't Exist? | Dilnawaz Khan
Summary
TLDRThe 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
- đĄ The rarity of an idea that hasn't been thought of before is extremely low, suggesting that most ideas are derivatives of existing problems.
- đ€ 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.
- đïž 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.
- đ 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.
- đ 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.
- đïž In some markets, like grocery delivery, there are numerous local businesses but no overarching market leader, indicating a crowded and possibly unscalable space.
- đ The laundry and rental businesses are examples where the market is not dominated by a single leader, suggesting high competition and lack of differentiation.
- đ« High logistics costs and lack of entry barriers can make certain businesses, like local grocery delivery, difficult to scale and dominate.
- đ 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.
- đ 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.
- đ 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.
Outlines
đ The Rarity of Truly Unique Ideas
The paragraph discusses the improbability of having a completely original idea, as most ideas are derivatives of existing problems. It suggests that it is highly unlikely for an idea to be so unique that no one has ever attempted it before. The speaker argues that if a startup's idea does not exist in the market, it could be due to previous failures or because the market is overcrowded with similar businesses, none of which have managed to become a market leader. The paragraph emphasizes the importance of considering the reasons behind the absence of a company in the market, such as team, funding, technology, ecosystem, economy, and timing, which could have hindered its success.
Mindmap
Keywords
đĄUnique Idea
đĄPracticality
đĄMarket Competition
đĄMarket Leader
đĄOvercrowded Market
đĄLogistics Costs
đĄStartup
đĄExecution
đĄEcosystem
đĄTiming
đĄEntry Barriers
Highlights
Working on a unique idea that has not come to anyone's mind is extremely rare.
Problems are public, and solutions are often derivatives of them.
There's a 99% chance that what you're working on has been attempted before.
The idea that something has not been done before is practically impossible unless it's entirely new.
Many past attempts may have failed due to various reasons such as team, funding, technology, ecosystem, and timing.
If there's no competition for your idea, it might indicate that many have tried and failed.
A startup with no market presence or competition may have faced insurmountable challenges.
Market leaders like Amazon and Flipkart have established dominance in their respective fields.
In some markets, such as food delivery, there's a clear market leader, while in others, the space is crowded with no clear leader.
The absence of a market leader in certain spaces can be due to high logistics costs and scalability issues.
Many players in the market may be executing the same idea in isolation, without becoming a market leader.
Grocery businesses, for example, have local delivery services in every small city, with no clear market leader.
In sectors like laundry and hyperlocal services, the market is overcrowded with no dominant player.
The lack of entry barriers in certain spaces leads to heavy competition and hinders the emergence of a market leader.
Three reasons why an idea might not exist in the market: it's either a rare, unthought-of idea; many have tried and failed; or many are trying without success.
The rarity of an entirely new idea is almost impossible, suggesting that most ideas have been attempted.
Market leaders are established due to overcoming challenges that others in the same space have not.
Transcripts
one you're working on an idea that
nobody has thought about
or you're working on such a unique idea
that which hasn't come in anybody's mind
right uh although idea or a solution is
a derivative of problem and problems
are public it is a 99 chance that
it is not practically possible uh until
unless you're not
building or working on something which
has never been done before 1999
chance you are wrong you are maybe
living under a rock
uh and it is not practically possible
that
anything that you're working on uh has
not been ever done before
one reason that can happen is because a
lot of people have tried this in the
past and have failed
the point i'm trying to establish here
is that a startup
if a idea is not available in the market
if the if the company
uh which is which around which you're
trying to build your idea
is not there in the market or you see
zero competition i think there's a
bigger
chance there's a higher chance that a
lot of people have tried and failed that
and any any of the reasons that i've
stated like team funding technology
ecosystem economy timing
could have not supported uh making that
company becoming a vertical leader
another reason why a company trying to
build does not exist in the market is
because
there are many people trying to do a
similar business
but nobody has become a market leader
yet and one of the main reasons why it
is not
uh existing is because there's so many
players in the market
executing building the same idea in
silos
but nobody has still become a market
leader
so if i let us say talk about market the
market leader in food delivery suikin
suicide
market leader in e-commerce amazon
flipkart market leader in
maybe uh hospital uh hospital discovery
it's practical or
delivery net med and companies like this
but if we talk about
spaces like grocery business right there
are of course
a few startups now post funding
growfords and likes a big basket
but then every uh community
every small city has a local grocery
delivery business of its own similarly
uh if if i look at a company
like a laundry business if i look at a
company like which is into hyper local
or if i look at a company like which is
into renting business renting of
products sending up clothes renting off
anything else nobody is yet the market
leader
and the reason why they haven't become
the market leader is there's too much
there's no entry barrier into that
particular space the space is therefore
heavily overcrowded and the high
logistics cost makes it an unscalable
business right
summarizing it the three reasons why
your idea does not exist in the market
one nobody has thought of it before it's
a rarity cannot happen
second a lot of people have tried and
have failed third
a lot of people are trying to do it
right now but nobody has become a market
leader
you
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