Uniqueness of Idea and Success in Entrepreneurship

Raj's Lab

Over the years of having taught entrepreneurship to a variety of audiences, one thing that continues to surprise me is the increasing frequency of this question’s occurrence. “Should my idea be unique to be successful?” It seems to me that this ‘myth’ has almost assumed propositions of ‘truth’ that it takes a lot more effort to help aspiring entrepreneurs see through the illusory nature of this untruth. This belief has also resulted in a disproportionate amount of entrepreneurship efforts spent on ideation and creativity. While they are important for the success of a business they are not enough for success of an enterprise.

Looking at the innumerable businesses that succeed and fail, it is becoming fairly clear that the ones which succeed are not necessarily the ones that are unique. In fact it seems that the more common the idea the more the chances of success. And the more unique…

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