Look for Competition

Joseph DePalma:

I find a lot of people that have great ideas and concepts, but they throw them out because they do some research, and find a plethora of competition. That’s a big mistake.

If there weren’t competition in an industry, there wouldn’t be a market. So, when you’re thinking about ideas, DO NOT plan your business by looking at your competition. Plan your business by using your mind and your own resources. Think about what you and other people would want as customers of your new business and build from there.

Only after you have created your business from the ground up, avoiding the influence of what’s already there, THEN look towards the existing market; what can be improved, what could be added, etc.

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