Ever get a great idea, plan it out on paper (or in a document), maybe even share it with a few friends or have someone design a cool logo only to see someone do exactly what you had in mind just about perfectly?

Usually it's not done perfectly. Usually it has a few elements of your idea but enough to make it feel spoiled.

1. There's nothing new under the sun, so there's no point whining about being the second guy to do it
2. That sickening feeling is most likely your fault - so learn from it

I just had that experience tonight. I've been trying to brow beat little brother into doing a business with me that would've been awesome. Only, one of the smartest direct marketing experts to have ever owned a website just did exactly what I had in mind. Nope, he's not the "only a few elements" he did my idea "just about perfectly." It's exactly what I talked to my developers about right down to the simple embedded video that comes on when you click the product image. Perfect!

I'm a big boy - I shouted out my kudos. Why? I'm grown up enough to realize that this was a big slap on the back from a profoundly successful competitor. By doing exactly what I'd had in mind (right down to the product line), he qualified my business plan. And, the world has enough nuts for more than one squirrel. If he flops he likely spent a lot more dough on the deal than I will. If it rocks he proves my model. Keep in mind that Apple isn't #1 in any market: cell phones, computers, software. But, I'd love to be the Steve Jobs of any industry.

With every positive lesson there's a negative one too. I had this idea years ago, before I ever even heard of this guy and his fifty plus million in annual sales. I had white boards in my office outlining the behavior of the website, the product flow, direct marketing, hooks, angles, product, everything. I didn't just do it. For that I deserve a big kick in the gut. I never begrudge another man's success, especially when he has resources and abilities I don't. But, there's nothing wrong with realizing you procrastinated yourself behind the eight ball. Or, since many people mimic success, perhaps I'm in the midst of a retail war instead of coming out years ahead of everyone else. Procrastination almost never yields superior results.

1. Never hesitate - hesitation makes your worst nightmares come true, there's nothing worse than waiting too long
2. Give it all you got, and let people laugh at you for being a dreamer or trying too hard but don't let them see you slack off
3. Believe in your gut - chances are you're right much of the time

I will add this caveat to #3 there. Read a book or two about testing your market. Many people just throw a product out there without any testing at all, investing years or millions before they realize they got it wrong. It's important to trust your gut, that's what gets you walking down the road. But, don't be afraid to read the map ever once in a while.