The Shifting World
Posted by NomadJohn
People are skeptic on whether the economy will ever recover. We are living in exponential times and there is opportunity for everyone, you just have to see it. My mind was blown away by this video back in 2007. Have a watch.
Most of that data is already obsolete. People don’t even use MySpace anymore. But why did MySpace fail? I believe MySpace failed because it refused to adapt to changing trends. Facebook came along and stole the show. Now you see facebook imitators everywhere and some of them are rather successful. VK.com is the Russian version of facebook and it is basically a copy of facebook. What VK.com does really well is integrating a good video search in the site that rivals youtube. You can find almost any movie in perfect streaming quality however almost everything is dubbed in russian, you can get lucky by searching “ENG” with the movie title, hehe. Putting movie piracy aside VK.com makes itself extremely popular in the Cyrillic realm of the world. Chiense Renren.com also imitates facebook rather well and is extermely popular in China. There are many imitators of facebook making money so why not imitate facebook. Even if you don’t consider IP issues the market is already saturated. You can’t compete with facebook, VK, or Renren because it already has a market. But you can do what myspace failed to do which is to be the first to adapt to changing trends. What are the changing trends? By the time the mainstream finds out about anything the market is already saturated for most newcomers. So you need to be searching across blogs and twitter feeds for the most innovative ideas and then put your own ideas into the picture than you will find your answers.
The worst fear of any entrepreneur is that his or her idea will get out there and become saturated before he or she will make any money out of it. The reality is there are 7 billion people out there all competing for the same resources and more than likely any idea imaginable has already been thought of. But the catch is very few people know how to capitalize a great idea into an engine that can actually make money. So my advice read everything you possibly can until you find the good resources to take your general idea into the mainstream.
Where to find the resources?
Find a niche publication. For me I love the travel industry and the online magazine that is at the forefront of travel technology is tnooz.com. The articles themselves are months old, if not years old in the ideas they bring out, but the next step is to find everything you can about the contributors of these articles as these are the people that hear about the newest innovative trends before they become public. Find their twitter and see who they follow, from there you can find more good resources. I found two good resources by following this method and the first led to the second. I found getviable.com which basically simplifies start-up consulting into a web interface that can link you to mentors and than possibly investors Getviable asked me questions about my big idea that I had not thought of it. The questions ultimately led me via google to this article goo.gl/Lh2Ry that outlined all of the resources Instagram used to sustain it’s business model until the facebook sell. I don’t understand the majority of the resources on this article but they will lead me to realize how I can make my big idea viable to the mainstream. The world is growing exponentially come and join the ride.