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DOUBTS - Market Competition - CENTS

Anything related to matters of the mind

MetalGear

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Narnia
Hi Everyone,
  • I have an idea and I am executing on it
  • After doing some market research I saw that I do have some competition in this space
  • What do you tell yourself to get over your doubts about being able to compete?
  1. For example, I see a lot of people doing Amazon FBA on this site
    1. Doesn't Amazon FBA violate the rule of CENTS - Control, Entry, Need, Time, and Scale?
    2. Maybe the FLF legends like @Walter Hay and @biophase just make it look so easy and it really isn't...
  2. The same applies to SaaS tech, SEO, digital marketing, etc: @eliquid @James Fend make it look all too easy...
Would appreciate any help with getting over this mental block
 
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eliquid

( Jason Brown )
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Hi Everyone,
  • I have an idea and I am executing on it
  • After doing some market research I saw that I do have some competition in this space
  • What do you tell yourself to get over your doubts about being able to compete?
  1. For example, I see a lot of people doing Amazon FBA on this site
    1. Doesn't Amazon FBA violate the rule of CENTS - Control, Entry, Need, Time, and Scale?
    2. Maybe the FLF legends like @Walter Hay and @biophase just make it look so easy and it really isn't...
  2. The same applies to SaaS tech, SEO, digital marketing, etc: @eliquid @James Fend make it look all too easy...
Would appreciate any help with getting over this mental block


A few tips:

1. You don't need to satisfy all of CENTS to make a lot of money. As an affiliate, I violated several of them at the same time. I still made a shit ton of money. For SaaS, I wonder sometimes IF I really fill a true NEED.. however I'm making money.

2. You can satisfy CENTS partially on each. Meaning, maybe selling on Amazon doesn't fulfill Control 100%, but it does 70%. You have to determine what % is what though.

3. What Control, Entry, Need, Time, and Scale mean to me, can be 200% different to you. I had a hard time understanding each of these until I asked some deep questions on this forum and @MJ DeMarco shed some light on them. In a sense ( from my view point ), you can only understand what Control is at your current level of:
  • Understanding
  • Resources
  • Ability
  • How it impacts you in your unique situation
4. If there is competition, there is probably a lot of money to be made. I tend to like a little competition. I tend to hate a LOT of competition. What's a little and what's a lot? That depends and is not easily answered. There is shit ton of people doing FBA, drop shipping, and selling online... however are they selling in your specific niche and product? For example, I wouldn't be going all in on Garlic Presses right now on Amazon.

5. Overcoming fear qualifies you for what you are doing. Some people are scared of water so they never swim in their life. Those that overcome it end up swimmers and maybe go on to be Michael Phelps and swim in the olympics. I'm not saying you will be successful, but fear is like a gatekeeper. If you can't get past it, you won't go forward and you end up exactly where you belong. Do you belong in the unsuccessful group of people in life?

.
 

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