Why Competition Is Completely Irrelevant For Your Business Success
People think I am crazy.
You might be thinking now,
“Zhenya, everything you tell about online businesses sounds interesting and motivating, but it just seems so saturated…”
But let me explain with a story.
Before starting our online business, I read just about every online business and watched every YouTube video out there about starting an online business.
I also bought ebooks, online courses, watched live seminars, and so on.
You name it. I learned about it.
If it was about developing social media skills… I learned it.
If it was about learning to write emails… I learned it.
If it was about stepping out of my comfort zone to learn a new skill for an online business… I learned it.
As somebody who wanted to travel the world, have financial freedom and be free of the damn 9–5, I needed all the help to build an online business that I could get.
Now, let’s take a step back for a second, and think about that: I spent literally thousands of dollars and thousands of hours.
On products from a handful of different people. All talking about the same subject.
Was I crazy?!
Photo by Vinicius "amnx" Amano on Unsplash
Even if many people thought so.
In fact, this is totally normal behavior. You probably do it. Most people just don’t realize how often this happens. It’s when you’re super passionate, interested, and excited about a topic (sometimes only for a short period) and you become RAVENOUS to learn EVERYTHING out there about it.
Most of my friends get their “passion fix” in the same way.
They’ll buy 10 different products from 10 different companies on topics they’re extremely into. Whether it’s games, photography, clean eating, technology, or anything else.
What’s even crazier is that this real-life phenomenon completely BLOWS one of the biggest business myths out of the water.
What myth, you ask?
Let’s hear it straight from the source:
“There’s too much competition out there in the [insert insanely lucrative niche here]. It’s too late for any newcomers. The customers are all gone.”
— Mr. KnowsEverythingBetter, MBA
I’m getting high blood pressure every time I hear that! Do you ask why this advice drives me crazy? Because competition and a “saturated niche” are irrelevant when you’re selling to a hungry market!
Because the majority of the audience is so ravenous, they’ll never satisfy their appetite by purchasing just ONE product. Ever noticed the never-ending parade of “fad” diets, juice cleanses, and gimmicky exercise regimens that splash the front covers of Cosmo and Men’s Health?
Have you ever noticed that billion-dollar makeup and beauty companies literally sell the same white-labeled Crayola crayons at a 1000x markup year after year, after year?
Now, here’s my point: Contrary to popular belief, “crowded markets” are some of the BEST niches to go into.
There’s plenty of money flowing around, there are nearly unlimited customers, and they’re typically the kind of markets that will exist for all of eternity and then some.
Hungry markets never get full.
Go after a BIG market and take advantage of a limitless pool of customers.
Now, maybe you’re wondering…
Have our students purchased products from our “competition”? Sure they have and that’s good. Not only that, I even always motivate people to learn and invest as much as they can into themselves. But has that stopped our best students from buying every single product we release or promote?
Not a single one.
I can’t reiterate this enough:
When it comes to starting an online business, there’s no such thing as arriving “too late to the game”.
The only thing you should fear is never arriving at all. There will always be customers for products that solve burning problems or teach skills people are dying to learn.
And the best customers? They’ll keep buying more and more products until they’ve “scratched their itch” completely. Even after that, they may still come back for more. Just because they like you.
Don’t let the naysayers discourage you from setting up a shop in the middle of a hungry crowd.
And if you’re as hyped as I am about building an online business, we have a YouTube channel where we teach exactly that.
I Teach You How To Become a Content Creator and Live an Effortless Life.