Answer by Carlos Del Carpio:
The founder of Dropbox was pitching in front of an investor one day, and the investor asked him: “there are similar companies out there doing the same as dropbox, why should I invest in just another similar company?”
His reply: “Yes. There are similar companies out there doing the same as dropbox. But do you use any of them?”
“Because they are bad.”
“Ok. That’s what Dropbox wants to solve.”
So bottomline: Ask your potential customers.
Any business idea is a solution to someone’s problem out there. Ask them if they are solving it, how they are solving it, and if they would be willing to pay to have it solved.
It doesn’t matter if it already exists if it can be done better.