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To be a successful entrepreneur, you should have good ideas, but the definition of a good idea varies depending on whom you ask. A great idea should have several features. Firstly, the great idea should be various and novel. Secondly, the great idea should be unique, which means no one has thought about it. Thirdly, it is essential for great ideas to be transformative and productive. All ideas are essentially a combination of other smaller ideas, but this doesn’t mean they can’t be unique. Merely copying doesn’t make anything idiosyncratic, it’s the individuality that one puts in which makes a concept stand out. Constant innovation leaves no room for stagnation and thus, adds on to the basic idea, effectively making it unique. Unique ideas are inspired by basic things, they are simply extensions of pre-existing notions. And, an idea or a concept is unique only when it transcends its predecessor and serves its purpose in a better and more precise way.

Successful entrepreneurship requires innovative ideas, which vary in definition. A great idea should be novel, unique, transformative, and productive. While all ideas stem from existing concepts, uniqueness arises from individual interpretation and innovation. Unique ideas improve upon previous ones, serving their purpose more effectively. Thus, constant innovation ensures ideas transcend their predecessors.