Product Idea ?? I know it's already there !
What do you do when you a think of a product idea? Or your next big idea? Probably you Google ! The very moment you find something similar, it brings down all the energy and enthusiasm in you and finally you give up on that idea without giving any thought to it ! I have spoken to numerous people about this and they feel exactly the same. But somehow I am not convinced with this.
When any idea comes to your mind, you actually craft a ecosystem around that idea. You think of a business plan and start thinking of who your target customers would be and why they would want to use your idea/app/product. You actually know why your idea is going to be the next big idea. You also think of who your users will be, what could be the top 3 features of your product. Basically there is lot of thinking from your side which is gone into it, which convinces your logical mind why it's gonna be a great idea.
What if you do Google and you find something similar? Don't let it go ! What makes the difference is the business plan you would have thought of ! We actually don't calculate the amount of time which has gone in conceptualizing. Time spent on conceptualizing actually helps in formulating a business plan. The more you ideate, you will see the possibilities of this product being a success (which could be dilemma at this point in time).
My suggestion would be to jot down the points which come in to your mind, so that you can brain storm on those later when you would be finalizing the initial set of features to be launched.
The business plan need not be a dead document, we need to keep it evolving I guess.