Entrepreneur Susan Mwenda-Mulungoti shares her ideas on why some business ideas, no matter how similar, fare better than others.
So I was in Game Stores the other day because for some reason my family loves buying drinks from there. In my son’s defence, they have juice with cars on them.
I noticed that for every drink, there were 3-4 other drinks of approximately the same type.
Same goes for bottled water. I believe Manzi valley was one of the earliest water bottling companies in Zambia.
It got me thinking: how is it that other companies like Aquavita are able to compete in the same market. It’s just water.
What about social media? Facebook is currently the biggest but it was not the first social media platform on the market (remember MySpace?), nor has it remained the only one.
And let’s not forget the king of the internet – GOOGLE. Google started after Yahoo search engine was already in operation. But we know who is ruling this space.
How is it that people with the same idea have different results?
One word: execution.
So many people who are new to business spend an inordinate amount of time worrying about someone else imitating or stealing their idea. The fact is, if an idea is popular, other people will come up with similar products. They are currently over 90 social media sites, more than 10 search engines but both Facebook and Google continue to excel.
It’s about how well you execute the idea, not how unique it is that really makes the difference between success and failure or struggle.
“Often the difference between a successful person and a failure is not one has better abilities or ideas, but the courage that one has to bet on one’s ideas, to take a calculated risk – and to act.”
– Andre Malraux
Go ahead with that same idea that may sound similar to others already on the market, put a unique spin and execute like your success depends on it. Because actually, it does.