Think the safest way to approach building your business is to start a carbon copy of someone else’s? Where’s the fun (or wisdom) in that?
People in this part of the world never fail to impress me with the number of irrational and absurd ideas they come up with. Setting everything else aside, I’m going to abandon writing technical articles for a moment and go full blast on these guys.
“Let me start by stressing the fact that stupidity is an international trait that knows no boundaries.
Let me start by stressing the fact that stupidity is an international trait that knows no boundaries. Mark my words: the next bubble to burst will be the startup bubble. It’s just amazing how much money is being thrown at uninspired, bizarre ideas, especially by venture capitalists in the technology arena. This is probably fueled by the success of various Internet services like Twitter or Facebook—along with the ridiculous valuation process of many startups, which consists of throwing the most insane possible amount at potential investors.
Just to showcase how crazy the valuation process of tech companies can be, I’ll start with a story that happened back in 2008. Twitter co-founders Evan Williams and Biz Stone were headed for a meeting that Biz didn’t know about. On the way to their destination, Evan told him they were going to meet Facebook’s CEO, Mark Zuckerberg. Biz wondered about the topic of discussion and the appropriateness of meeting Mark in a very awkward-looking shirt. On their way to Facebook, the pair decided to throw out a huge number they thought no one could say yes to—if Mark offered to acquire their company. The figure was $500 million. They both laughed so hard they could barely breathe. After the meeting, Zuckerberg called to say that he had accepted their offer.
One could argue that Mark saw the potential of Twitter back in the day; but with the recent development and hype over tech startups, valuations have started to get out of control. No evidence is clearer than the fact that a simple, silly app like Yo, which enables users to send the word “Yo” to their contacts, received $1 million in funding within a couple of days, and another $1.5 million within a month. The value of the app now is 5 to 10 million dollars!
Luckily, the finance and investment sectors are still in development, and have not yet reached the stage of taking advantage of marvelous (or pointless) ideas and concepts. However, that hasn’t slowed down the number of irrational business ideas that anyone with an IQ higher than 40 could potentially use to guarantee their own failure.
Seriously—if you want to start a “successful” new business, please think of something original, or at least add a personal touch to whatever you are trying to make other people buy.
First of all, if you don’t really love what you’re doing, then please don’t bother. Save your time, money, and effort, and look into something else. Don’t just copy someone else’s idea because you saw a cupcake place with many followers on Instagram, or a “Karak” tea shop with a lot of customers parked outside.
“Seriously—if you want to start a ‘successful’ new business, please think of something original, or at least add a personal touch to whatever you are trying to make other people buy.
I’m also really sick of ridiculous gourmet burger shops that are copying each other at an alarming rate, popping up in places you wouldn’t expect. Similarly, I can’t understand why your “Abaya” shop will still be successful, if all you do is copy another designer’s line.
Bahrain is a very small market, and it takes a lot of effort, creativity, and passion to truly stand out in such a squeezed-out crowd. You’re not doing yourself, the economy, or anyone any good by copying. You’re just keeping collections and remedial bank staff very, very busy.
