The Question: "Does one need a new idea to start a new business?"
In my line of work I meet lots of different people. Many have a business already, many more do not. It is not news that a small fraction of people ever start a business. Often I wonder why and recently a commonly held misconception occurred to me ...
When I started my first business, I felt a certain unease that it was neither interesting nor original. It was a car cleaning round to earn pocket money. Other kids would think me a mug because I was not hanging around the streets getting bored with mates. Some saw me as a bit of a loser - I was not having fun or doing anything interesting with my time. The difference was that those kids had their pocket money for free.
My first grown up business, and limited company, was House Electronic Ltd; a custom installation design and services firm, specialising in home automation systems and assistive technology. This was a proud period for me. I had my own successful business and, while it was not an entirely original idea, I was part of a new industry here in the UK. However, I hadn't considered any business I would have, as a proper business unless it was a new, fancy idea.
This is possibly the most damning misconception of them all, that a business, if it is worth persuing, has to be based on something original, new and exciting. Indeed, we all too often think that the exciting stuff is only the new stuff. Fed on a diet of ever-changing technology, products and devices which have ever-decreasing shelf lives, we cannot be bothered with anything less than new and shiny.
James Dyson did not invent the vacuum cleaner any more than Steve Jobs and Steve Wozniak invented the computer. Both did, however, take an existing idea and make it a whole lot better, producing truly great products for us all to enjoy.
Very often the people I meet are reluctant to start a business because they feel that they have failed to have a new idea, that they have not invented something exciting. As someone I know recently put it "if it already exists out there, there is no place for another surely." Well, I have to say ... "wrong!"
Sure, if you are to become very rich from your business, it can help to have an original idea (although history teaches us that this is not mandatory). It is also true that for many people, paying off the mortgage early, driving a comfy car, taking a decent holiday each year and retiring without worrying about paying the bills is actually a rich position to hold in life - wealth is not measured only in units of currency.
Think about what makes you happy. Even better, what is it that you are great at that makes others happy? What do others offer where you live - see if you can do the same, only much better. There is nothing wrong with doing something predictable, especially if the way you do it, or the standard to which you do it, is pleasantly unpredictable.
If you have worked for someone else and been irritated by the way things just aren't done right. If you believe in yourself and you feel you really can do better, think about giving it a go. If right, not only could you make a decent living (perhaps more than working for "those idiots"), but you could also make a difference to the lives of others too ... your customers! You are taxed at the end of the month, no matter what you do, you might as well enjoy it. Then you can stop complaining that it's not under your control!
Good luck and best wishes,
Karl
