Entrepreneurship Lessons for Success (Collection)

Chapter 5. Myth No. 5: The Best Business Ideas Are Already Taken Truth No. 5: There Are an Infinite Number of Possibilities for Good Business Ideas

Introduction

Of all the myths surrounding business ownership, the notion that the best business ideas are already taken is the most exaggerated. It simply isn’t true. New businesses based on new ideas are started everyday. In addition, there is nothing wrong with starting a business that’s a slight variation of something that already exists. In fact, most new businesses do not launch revolutionary new products or services—they are just too expensive to bring to market. Though there are exceptions. FedEx, for example, was started in the 1970s on the revolutionary idea of creating a system to facilitate ...