I once had a client who called my office in an absolute fervor over a new money-making idea he wanted to discuss with me. This client was a small, underfunded, two-man shop struggling to sell IT services. BUT – according to him – this idea he had was going to revolutionize the entire IT industry and make him millions — possibly billions- in a few short years. He even wanted me to sign a NDA to ensure I wouldn’t leak the details of his brilliant new idea. What was his invention? A software tool that would allow small IT firms to remote into their clients networks’ and monitor their systems.
Now if you’re thinking, “Well –isn’t that what Kaseya, Level Platforms, Zenith Infotech and a few dozen other companies have already developed?” you would be correct. I told him about these companies and he was stunned; he was completely unaware that anyone had already created this kind of product. I then asked the obvious question, “Didn’t you do any research to see if someone had already developed this?” His reply was, “Yes, but apparently not enough.”
While this seems like an extreme example of stupidity, I assure you I see this all the time with IT business owners who think they have to be creative and come up with a brand-new, never seen before idea to succeed in business. They believe they need something new…something the world has never seen before…in order for it to sell when the exact opposite is true. Read full article and comment →