My 1 billion dollars idea already exists 😱

Estimated reading time: 2 minutes and 18 seconds

You are ready to build something, you just found the 1 billion idea, you know how to market and sell it, but...you realized the service already exists! Did it already happen to you?

From there, you have two choice: stop your dreamed project and start to cry. Or be more confident and continue anyway.

Many people will stop, I heard it very often from non entrepreneur's friends: "each time I'm ready to build a project, I stop because it already exists". I know that feeling. I used to think that way. 10 years ago I started to create a few services and stopped after a few days/weeks when I realized there was competition.

The truth? Most good ideas are taken. But the success is not only due to a concept. When I realized it, I totally changed my mind and I’m now on team B, I feel confident to launch where there are competitors. Here’s why, and how to deal with it:

Validation 
Rather than viewing existing competition as a barrier, see it as validation that there is a demand for your idea. Competition indicates a market already exists, and it's up to you to find your niche within it. Study your competitors, identify their strengths and weaknesses, and use that knowledge to refine your approach.

Think differentiation
To succeed, think what sets your product or service apart from the competition? Is it a superior user experience, innovative features, better pricing, or exceptional customer service? Focus on these unique selling points and communicate them effectively to your target audience.

Execution
Success is not just about having a great idea; it's about executing it effectively. My first SaaS in the crypto area had a market, but I didn’t know how to reach the audience, I didn’t know how to market it properly. It was a total failure. Pour your energy into building a high-quality product or service, establishing strong relationships with customers, and refining your business model. Consistent effort and dedication can set you apart from competitors, regardless of when you enter the market.

I knew Interiorai existed when I launched iacrea, but I was confident I could provide a better photo quality result and focus on the French market needs to start. I might have fewer customers than him, but I generate comfortable recurring revenue with it, which I didn’t achieve with my first SaaS.

I hope this email will help you to be confident to launch your dream project and avoid to think "Ah shit, here we go again, I need another idea to launch“