A playbook for Generating Business Ideas

1. Same Problem, Same Solution (Replicate)
“Same problem, same solution” is just a complicated way of saying, compete
directly with an existing company that has traction, hah. Companies that enter
existing markets have been termed “second movers.”
The reason you might want to be a second mover is because if you know that the
company is selling its product, it is probably something that people want. All
else equal, I would rather bet on a product that people have bought or used
previously than one that people have never seen.
Some of the most successful companies in history could be qualified as second
movers, including Facebook, Google, Wal-Mart, and several publicly traded
banks and financial services companies.
There are advantages and disadvantages to competing directly with an existing
company. The remainder of this section covers advantages and disadvantages of
solving the same problem that another successful company is solving by
supplying the same solution.