The Entrepreneurs Achilles Heel - Innovation Vs Creation
When I was writing this piece I was struggling to come up with a title that
would properly describe what I was trying to convey. In the end I went
with"....Achilles Heel" because I think it sums up the problem perfectly.
We entrepreneurs are at our best when brainstorming new idea's, coming up
with new products to bring to market, and generally trying to add something
of value to the world.
But where do we draw the line between creation and personal
It appears to me that there are two paths which we can follow each which can
give us varying results.
The Holy Grail
The first being the Holy Grail of sorts. We strive to create something of
immense value that's never been done before. This innovation usually
takes much toil and effort and can be a very long journey from start to finish.
But is it really worth it? Should we spend such huge amounts of our time and
resources on something which we may never find? Is this search for the Holy
Grail justifiable or should we take a different approach to product creation.
If we are to be brutally honest with ourselves do we really believe that we can
invent something new and successfully bring it to market? Just say we do
master up this new creation we are left in a precarious position - how do we
know that people will buy from us? Humans are creatures of habit and it
could be extremely difficult for an unknown entrepreneur to successfully
launch his new invention and for it to be a commercial success.
When do we say enough is enough and try taking a different path?
Innovation v Creation
This other approach is what the vast majority of entrepreneurs do, they find
an area where they already have an interest and take inspiration from the
existing market. They research the most popular products there and see is
there any way of them putting their own stamp on it or by improving it in
some way so as to give it their own unique spin. This gives the advantage of
being able to create a product, which you already know there is a demand for,
in a much faster period of time.
The goal here is not to simply copy the work of a competitor and pass it off as
your own - of course that would put you in all sorts of trouble! It's to see if you
can add value to an already popular marketplace and position your creation
in-front of a willing audience.
It is key here to be able to define your USP ( Unique Selling Proposition or
Unique Selling Point) This is what makes your product different from all
others and give you an edge over your competitors.
You see when you find an area that your interested in it's very worthwhile to
do some market research. I read an awesome report awhile back about this
Super Guru who wrote Hot Reports.
These were short. snappy ebooks which we're wrote about a very specific topic
and priced to sell at only $7. She detailed how she only ever thought about
writing a report after she had Reverse Engineered some of her biggest
competitors! The thinking behind this was to make sure that there was
already a hungry market for her product BEFORE she even thought about
I don't know about you but when I read that I was like "Wow - very smart
lady!" She didn't waste any time trying to invent some new concept, she
simply went out into the market and found out where the demand was
coming from. She analyzed what the Big Players were doing and then created
a similar product with her own unique twist and then gave it to the market.
And Boom - she kills it every time!!
No Need to Re-invent the Wheel
There's no need to re-invent the wheel when creating a product, especially a
digital information one. People don't expect you to come up with some new
amazing, never before seen, way of doing things - if you can answer their
questions and give them good valuable content with your own spin on it then
your on to a winner.
This is a far faster method for you to see a return on your investment. It's
quite easy to research the most popular areas in your niche, search out the
most popular products in this area and then add your own ideas and improve
Many of you reading this are familiar with the Warrior Forum and in
particular the Warrior Special Offer section. How many times have you seen
products advertised as the latest and greatest Never-Before-Seen Systems in
the World? And how many times has this been the case? I bet zero....
You see these sellers are basically creating the same product over and
over again but they add their own personal touch and experiences to it. That
is what allows them to have such a fast turn around from initial
brainstorming to product launch.
They are not re-inventing the wheel - simply because the wheel works
perfectly fine the way it is!
That has been the Achilles Heel for many an Entrepreneur - they over think
things and assume they have to start from scratch and invent a brand new
product - one which has never been seen before.
I hope you now see that this doesn't have to be the case. You can, quite
easily go out there are create your own product with confidence. Why?
because you already know that there is a market for it and once you position
yourself correctly there is no reason in the world why you can't be a success.
So get out there and Do It!!
Want to Know More...
Noel Cunningham is a qualiﬁed Economist who has a background in the Financial
Control and Hedge Fund Industry. He is an Online Entrepreneur, Marketer and
Business Strategist. You can ﬁnd out more @ http://noelcunningham.net