A few decades ago, a friend asked me about creating a startup in the 3D Computer Graphics field. He pitched me the idea, and for every aspect of this software, I provided an example of something already existing.
While the execution makes the difference and nobody prevents you from starting any type of venture, you are at risk even if somebody else already did it. You could waste time, money, and resources by creating something existing or that nobody would buy.
A signal that the time has come for an idea is when you receive pitches or requests for advice about that idea from different fronts. It means that many people are thinking about it, either independently or because it went mainstream. It’s in the air. You can sense it.
In addition to a thorough market and competition research, it would help to study history. What did already solve our problem? Did it work? How did they have success? Is there space for innovation?
That’s why studying and researching your field of interest could give you an advantage. Or, if you think about it, you could even package your knowledge and make a product out of it.
History could save you a lot of time or could make you earn a lot of money.
How much do you know about history?