Innovation is a fine thing, but here's some examples of products that entered a crowded market with what amounted to basically the same product as their precursors:
1. Google was not the first search engine.
2. Facebook was not the first social network.
3. Linkedin was not the first job board.
4. Gmail was not the first email client.
5. Quora was not the first Q&A site.
6. iPod was not the first portable music player.
7. iPad was not the first tablet.
The list goes on. If you boil it down to the basics though, you'll see that what these products had in common was that they zoomed in on the essence of their product, and executed relentlessly.
1. Google focused on simplicity, speed and relevance.
2. Facebook focused on transplanting entire college networks into Facebook, thus ensuring that their early users will always find someone they know.
3. Linkedin focused on building dynamic resumes and user acquisition.
4. Gmail focused on speed, security, and a large storage space.
5. Quora focused on simplicity and a social graph.
6. iPod focused on simplicity and attractiveness.
7. iPad focused on user friendliness, simplicity, and building a dynamic app store.
*Note that the prevailing trend here is simplicity.
So entering a crowded market is not the question. The main question should be:
What value can you add to the existing market?
Answer that, then work your arse off in pursuit of that added value.
Credit: Ryan Chew
www.Conquest.uk.com
