When your gap in the market has gone.
“I thought I spotted a gap in the market—but it turns out someone else has already tapped it…”
This isn’t uncommon. It’s also not a total loss.
Consider that collaboration can actually be a competitive advantage—not a compensation prize.
Some of the world’s biggest problems are systemic. They’re way too complex for any one company to solve solo, in any case. (Sadly.)
In fact, the bigger the problem, the more intersecting and interdependent connections and constellations are involved. (Climate change is an apt example.)
Each of these big problems is like one massive Venn diagram.
So, think in terms of ecosystems as potential solutions. Venn-like. Maybe you join an ecosystem and combine your assets with others to scale collective impact (and revenues). Better yet, maybe you orchestrate an ecosystem and build a brand around being the curator.
Who can you partner with? Where could 1 plus 1 equal 4 for your business and more people who need what you bring?
Think outside your category. Problems don’t respect industry lines. Value creation doesn’t either.
Naturally, there’s a lot more nuance and sophistication to exploring this, and especially—to pulling it off.
But as a society, we’re only facing more complex problems that have greater potential than ever to be our undoing.
If you think you have a piece to our collective puzzle, there’s power in putting it together.