We are quite sure this question would have surely come in the mind of every entrepreneur who have launched their startups recently. Everybody wants to know whether his or her business startup idea is already exist? If yes, then since when? How it is doing at present? What is the market size? What are the scope of expansions? What did it do in initial stages? Are there any competitors not not? If yes, then how many? What are your scope of the success if you start the same business? These are bunch of questions which may rule on entrepreneur’s mind before launching any startup. But here, let’s concentrate on how to find whether your startup idea already exist or not?
The best way how you can know the answer from the competitors. This itself proves that your idea is exists and let you know how potential the market is. It’s always good that you have competitors, because the chances of first-to-market ideas to achieve a huge success are always less. But if you have competitor for same idea, you can always copy that idea and launch it with your own innovation.
I tell everyone, “Copy, Copy and Innovate!” – Paul Howey, CEO & Co-Founder @ Talkroute
Here are few ways to identify whether your idea exists or not?
Simple Googling: Googling is always a handy tool to find almost anything. You can search like you are a real customer and looking for a service or product which is a part of your startup idea. Try to list the vendors or companies offering similar product or services. It is also possible that you may not find the results always on first page of Google result. The reason is that many vendors and companies may not have enough SEO rankings.
Searching specific keywords related to your startup idea like shown in the image given here, can also give you the desired results.
You can also see a ton of people advertising their business which can be a match with your idea. With all these your will at least know how firmly your idea established in the market.
Media Platforms: Startups are often covered by medias like current affairs websites, new websites like YourStory, SiliconIndia, Mashable, Economic Times etc. You can always search similar places where you can find startup stories.
In this exercises, you will build more knowledge about competitive space and senses identifying your real competitors.
KnowEm: There is a great tol called ‘KnowEm‘ for checking how popular a term or word is and whether or not it has been claimed on Twitter, Facebook and many other blogging websites. We often see that Well-known startups have websites and social media accounts to promote their business idea.
This is an extremely useful website which can also let you know if similar kind of business exists anywhere or not.
If you don’t know it already exists, you probably don’t know enough about your idea and your potential customers. – Andy Dent, CTO, Touchgr.am