Don't ban your ideas too soon...

In the last year, I had at least 2 ideas worthy of an online company. After a couple of days swirling in my head I usually started to check the competition, see what was out there. In almost all cases I came back with my head down saying others beat me in the idea and were first. 

Looking back to it, I figure that there will always be competition. Sometimes you're the first, or sometimes you join the party late. Even in the latter case, it's all about the execution of your idea. You can still beat those competitors if you offer a better, faster, easier, nicer product. 

Take a look at the success story of pinterest who also came late into the game of image bookmarking: http://designshack.net/articles/business-articles/addictive-ux-why-pinterest-is-so-dang-amazing/#more-28855. Their execution was just technically and conceptually better than the existing.

I will for sure not be scared anymore of the competition when waking up with my next idea; unless of course the competition is called apple or google :D.