I've noticed a pattern that continuously plays out in any emerging marketplace when it comes to startups — it is the continuous flux of innovation fatigue, amplified by the drowning noise of competition.
One startup creates a market, then entrants come in like swarms of bees wanting to get their honey too. The market becomes over-saturated with competitors, increasing the competitive intensity, which causes the sector to expand or contract in size. This causes fatigue as it’s played out like a vicious circle, or like a dog chasing its tail.
Look at social media and all of its noise creating fatigue for some users. How much time do you really have to manage your Twitter, Facebook, LinkedIn, Foursquare, Pinterest, Path, Tumblr, Quora, blah, blah, blah? Sure you can become more efficient by using productivity tools that automate tasks — but is this really being social anymore?
For one startup we are accelerating, we are incorporating fewer social variables to the startup formula because it diluted the message from the core value proposition. The continuous flux of innovation fatigue in the social media sector caused us to think hard about the true core value of this startup idea.
Can you add less social to your idea at first but still have “viral” incorporated within the concept to get the word out? Does being social make your startup more attractive to investors or consumers, or is there a new innovation opportunity in being less social?
These are some of the questions I asked myself recently. I didn't stop there. I asked myself a very simple question: what does it mean today to be social?
Now back to finishing my cup of Starbucks espresso. Comment below and tell me what you think.
© 2013 entrepreneurdex
An entrepreneur and investor, with more than 25 years experience, he's worked with ventures in the technology, internet, media and publishing, entertainment, energy, and manufacturing sectors raising more than $300 million in capital for various companies and investing more than $50 million into startup and emerging ventures. He's sat on the boards of 11 companies, served as editor-in-chief of Futuredex, a private equity magazine. Follow Damir on Google+