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When evaluating a business opportunity it is important to remember to ask the question “Why isn’t anyone else doing this?” Perhaps your idea is so innovative that nobody has thought of it. Or perhaps the timing of your idea is now feasible due to an advancement in technology, business practices, or consumer tastes. Perhaps.
But, in case those factors aren’t present, don’t forget to ask this question of yourself and others when considering new businesses, offerings, processes, or other forms of innovation. Openly and honestly debate the answer to this question including getting thoughts from trusted and impartial observers who are familiar with your industry. If you skip this step you might be ignoring a landmine that could have already snared other would-be innovators who have tried to blaze the same trail. At the same time, don't be discouraged by naysayers - just make sure you turn over this rock so you aren't surprised.
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