3 Smart Reasons to Start a Business in a Crowded Market
My clients tell me a lot of reasons why they haven’t started the businesses of their dreams.
- They don’t have the time.
- They don’t have the money.
- They’re scared of failing again.
- They don’t know where to start.
- Their families want them to play it safe with corporate jobs.
- They’re waiting for the planets to align, for the moon to be in the proper phase, and for their auras to be vibrating at the correct frequency. Maybe starting next decade would be more auspicious.
One reason (or should I say excuse?) that I hear more than the others is that they DO have ideas for the ideal businesses they’d like to create. In fact, they’ve been dreaming about these business ideas for years.
But they don’t want to join a crowded market.
“Sage, I can’t become a coach, jewelry maker, website designer, or fill-in-the-blank! The market is crowded, and I don’t want to compete against a million other people with the same business idea.”
I understand how scary it can be to put yourself out there with no guarantee for success. And how can you compare to those other businesses with their flashy websites and snazzy product lines?
A crowded market might be the last place you want to dive in to, but that’s exactly where you need to be!
As weird as it sounds, your business has a better chance of succeeding if you model it on those that have already succeeded.
Here are 3 smart reasons why you should start a business in a crowded market.
1. A Crowd Means There’s a Need
I can’t believe how many people miss this obvious truth. If there are thousands of other online businesses selling the same things you sell—and thriving!—then that means there’s an audience buying that product.
Take me for instance. There are a million online life coaches, and I don’t offer products or services that are much different than what my peers offer. So why does my business plan work?
I have a 6-figure business today because I realized years ago that women are looking for support, guidance, and accountability…and in this technological age, that means they’re looking for what they need online.
The internet is crowded with online life coaches, but it’s also crowded with potential coaching clients.
2. If They Did It, You Can Too
It’s easy to become jealous of what other people have and the golden opportunities that seemingly fall into their laps. If only you could do those amazing things too.
Well, you can! The very fact that someone else has been successful in a certain area is proof that it can be done. Your competition is human, just like you, and that means whatever successes she’s had are achievable by you too.
Everyone starts at the bottom. For a long time, I had no one following me on Facebook, no one wanted to work with me, and no one wanted to interview me. It sucked!
But whenever I saw one of my peers succeeding in a big way, I reframed it as the universe telling me that I could do that too. This is a basic law of attraction technique. By wishing my peers continued success, I started attracting positive opportunities to me.
3. It’s Your Chance To Do What You Love
Maybe the best reason I can give you for why you should start a business in a crowded market is that this is the only life you’ve got. Don’t waste it by putting your dreams on a shelf to get dusty and forgotten.
What do you really want to do? What do you love? What passion do you want to pursue?
Take a leap of faith and join that crowded market anyway. Remember, no matter what you’re selling, your customers are buying YOU. It’s your authenticity that helps you stand out from the crowd instead of getting lost in it.
This post focuses on Step 3 of the Life Editing Process, Add Good Habits and Routines. For more about life editing and what it can do for you, click here.
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A little late to the party here, but this is just what I needed to hear Sage! A friend and I are starting a blog and business in what may be a crowded market and it is very daunting. I think we are coming at from our hearts and with a true desire to help others and. I think that makes all the difference in how you view success. Thanks for the encouragement!
I love this mind shift about a crowded market! I’ll admit I’ve used that excuse in the past. Not anymore!
I thought this very same thing when I wanted to start my calligraphy business. “There are so many calligraphers out there right now, and they are all amazing so why I would want to compete with that?” That’s what I told myself all the time, but my drive to start doing the thing I loved became stronger than my fear of starting a business in a crowded market, and I just started it and I’m so glad I did!
YES! Sometimes just getting started takes away the fear. I’m glad you’re having fun with your business, Lori. 🙂
I’ve been freelance writing since earlier this year but over the last few weeks I’ve been wanting to expand and gain new clients. At the same time I still want to grow my blog. I know there are a lot of writers and bloggers our there but we all have something different and valuable to offer. I don’t mind being in a crowded market.
Yep, there’s something unique about each of us, and that’s why our clients end up hiring us.
I’m starting my business in September, now, I’m in the warmup phase. I’m worries and excited at the same time. I have only a few days left until I reach my deadline to start doing my best and putting in as much effort as I can to have my dream job. I’m doing it part-time but I really want to become full-time soon 🙂
Congratulations on starting your business! That’s so exciting. Keep doing your thing and ignore the “competition.”