The number one reason people give up on something great is, “someone else is already doing that.” or, “my idea is not brand new.”

Two big pieces of news for you:

1. Competition validates you. When you own a business, the natural tendency is to worry about what your competition is doing and how much they’re charging. This is the old model of thinking; I want you to try something radically different. Instead of worrying about lowering your prices to match theirs, improve your customer service, make your place of business so welcoming and friendly people won’t want to leave.

2. You only have to do something 10% better or provide added value to be successful. Do you know your Unique Selling Proposition (USP) ? Whether you are an employee, physician, dentist, pastor, teacher, web designer, author, artist, musician, human resource director, professor, politician, or entrepreneur, you must know what makes you remarkable.  Without that, your success will be mediocre or non-existent.

There are lots of good reasons to abandon your idea. Having competition and not being brand new is not one of them.