Building the next big thing, how can startups capitalize on periods of high innovation to find the next billion-dollar idea?

The singularity of “once”

Therefore, the principle of each moment coming once is true, but the word “once” seems to obscure the concept of time. “Once” in this context is not a single moment. It is a period. As we mentioned, it took more than 40 years of innovation to get from the invention of the internal combustion engine to building the Model T.

The New thing Vs the Next Big thing

When we try to put a face to the social media frenzy that is taking over the world today, do we imagine Facebook or Myspace?

Where is the party?

Finding out the domain in which innovation is raging right now, so you can capitalize on it and build great products, is at the same time easy and hard. Advances in communication technologies have made a lot of the world’s information accessible to everyone all the time. You can get your hands on a myriad of research papers from the world’s top scientists with a simple google search. But this also comes with huge disadvantages: you will have to sort through mountains of data to get to the useful information.

Start with the problem.

Innovation at its core is just a way of solving a problem, so your focus should be on any advances related to a problem you are facing right now and to which you are trying to find a solution.

  • Can I use some innovation to build a product or service that solves the same problem but 10 times better?
  • One-to-many, improving something existing.

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