The value of competition

Hi everyone,I thought that I'd create a short post on competition since I see a lot of people on here mentioning that they haven't started because they haven't had that big idea. As someone getting started in the business world, you definitely don't want to execute on a unique idea. Here are a few reasons why.1) The public doesn't know about it and therefore won't search for you. You have to find them.This is expensive and time consuming.2) Your advertising has to be educationalIf your product is new to the world, your advertising now needs to contain an explanation or information on what you do and its benefits. Consumers have an extremely short attention span. Successfully sending them this information can be challenging and requires ad formats such as promotional videos or blog posts, which can be expensive and or difficult to achieve reach with.3) If no one else is running with your idea, there is a 99.99% chance it's because it won't work for some reason or another.If you've had a unique idea, run it past others to find out why no one else has done it. It could be that the margins are too slim, the setup is too complex, or the market is just too small to justify executing on the idea.4) Without competition, you can't see what works and what doesn'tCompetition can offer inspiration and ideas on what works and what doesn't. For a small price, you can purchase their service and disect it to understand what you're missing and why they are excelling.5) Lack of experience from within the communityIf you're working on something that no one has ever done before and need help, it may be challenging to find someone who is able to assist you.Good luck. see hubwealthy.com/wealthy