This post Someone Already Thought of My Idea – Now What? is a few months old, but I just came across it tonight. it makes some very good points about a problem I think many of us have – we want to come up with that brand new, perfect idea, that no one else has ever even dreamed of.
Well, it is probably not going to happen. No matter how smart you are, there are many many people out there as smart or smarter (unless you are that one person out there who actually IS smarter than everybody else – it is not me, so I am not going to worry about it), and it is highly likely that at least one of them will have thought up an idea very similar to yours.
So, what do you do about it? Well, you do not give up for one thing. Just because someone has the same idea you have, does not mean they have the same business you have. There are so many variables, and so many opportunities to innovate every aspect of your approach, that you absolutely can do it better than someone else.
Ultimately, it comes down to execution. Given two people/organizations with the same idea, the one that executes better has a much higher likelihood to win. Note that no matter how good your execution or anything else, there are no guarantees – you can do everything right, make no mistakes, and still lose (I think Picard said that on STNG – kind of sad that I am quoting Star Trek wisdom!).
I will make an analogy with football (I frequently do – and I mean American football, not soccer). Both teams in a football game have the same objectives, often have very similar levels of talent, are on the same field with the same playing conditions, and really have pretty much all the same tools and strategies available to them. More often than not, the team that wins is the team that executes the best on game day – executes on the fundamentals, and does not do things to hurt themselves.
Much the same holds true in starting a business, and when you find out someone else has had the same idea as you, you only have two choices: execute better than them, or leave the field and find a new game.