Ideation vs. Creation
David Beisel, an early-stage VC usally gives valuable internal views on the startup scene, but this time he got it strait to the point. On Genuine VC he posted his experiences about the copycat phenomenon and how entrepreneurs surprisingly working on the same business idea without knowing each other.
He also announces one cause for this effect:
„Information about new startups and trends affecting them is near ubiquitous given the rise of influential and well-read blogs, as well as the mainstream press and conferences. And based on these visible and salient market trends, smart people tend to be led to the same conclusions about wherein lies the opportunity.“
So he believes „the risk of another someone literally copying an entrepreneur’s startup idea is largely overperceived and overweighted.“
In the manner of Open Innovation the idea itself, has literally no worth at all, not untill the idea has succed to switch onto the market and therefore transforms into an innovation. The challenge is to maximize probability that this switch happens.
„Defensibility with other aspects of the business model and above all, execution, mean so much more than a few months time-to-market.“
„The question when pursuing a new idea for a business isn’t “has someone else thought of this and how can we prevent that from happening?” but rather “how can we beat someone else who is thinking of this right now?”
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