But if you're not embarrassed when you ship your first version, you waited too long.
If you get to be #1 in your category, but your category is too small, then you can broaden your scope and you can do so with leverage.
“As long as I listen to my customers, I never need to have another original idea.”
One of the classic mistakes that startups make is developing a product in the absence of customers. It's simply impossible to learn unless people are using your product.
Remember that human nature has a tendency to admire complexity, but to reward simplicity.