Someone already has your idea. ( Who cares, ideas are worth nada without implementation)
Someone already started building around your idea. (Ok, they are executing, but how well? and do you think you can do it better, and why?)
Someone has already raised seven figure numbers to implement your idea. (Hmm… so others think they are implementing well. Enough to put $ behind it. But the question remains the same— can you do it better? Why? and How?)
I heard a story recently, about the Wright brothers. They clearly were not the only people trying to fly, and there were certainly others more qualified, and better funded in the same pursuit. Samuel Pierpont Langley was a prime example, he actually was the one getting all the press, and the money. But, the story goes, Langley was in it for the fame and the riches, which are always results, not reasons to do anything. The why of doing something is always most important. ”The day that the Wright brothers took flight, Langley quit”. I think he quit because his “why” was all messed up. He could have joined their cause, or he could have said, “great, someone else has done it, now I can make it better”.
Last year, I wanted to start a scholarship fund for immigrant students. I wanted to do it because these kids are brilliant and they deserve access to a higher education. I heard of a scholarship fund that was doing an amazing job giving scholarships to immigrant kids. I met with them, loved the work they were doing and joined their advisory board. Now we are trying to expand to NY.
This time, I am taking a different course of action. Why did I leave GS to start a travel site? Because the world is an amazing place, and not enough people see it. I want to inspire people to travel more often. Finding a business that is already addressing some of the same issues in planning travel that I want to address is encouraging. I am encouraged because 1) it validates that my idea is viable as a business and 2) it validates that people want to put money to work in this space.
I knew about them before I left, and considered joining them before deciding that I can still do it better because my WHY is crystal clear.