In this article, Salim Virani talks about how people confuse data with logic when evaluating an idea or business model. For instance, one might say “Alta Vista failed; therefore internet search is not a viable business model”. Yikes!
Just because a business model didn’t work for one company doesn’t mean it’s a bad business model. When a business model fails, we need to use logic to determine why it failed.
When you are innovating, you should look for analogs and antilogs. Analogs are businesses or people that have gone before you that have already done what you want to do. You should copy them (you don’t want to reinvent the wheel). There are also antilogs. Antilogs are companies who have done something similar to what you want to do, but you you want to do it better.
Who knows, with a little tweaking it might be a million or even billion dollar idea!