Finding a business with NO competition

[marvin_etc]

Change your mindset first.

 

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[Graves]

How do I find a business with little or no competition?

I'm looking to find a niche I can dominate.

Any suggestions?

How do I find the best way to provide value ?

I'm no succesful entrepreneur yet, but everything I'm working on follows this rule

If competition - good competition - is high, it probably means there's not much value to be added in that 'niche' (unless you have something that makes your competitors irrelevant)

 

[DeletedUser2]

until you have about 2 Million in Gross revenue, you have no competition. in fact YOU are your biggest competition.

after 2M then your a player in the market.

 

[Johnny boy]

No competetition means no proven demand. Nobody knows to look for you.

If any of it is online then it automatically is in a competitive market (getting attention is hard)

Starting from square one means you likely only have a basic understanding of any industry. How would you understand an industry enough to know what products or services would be a good idea compared to someone who’s been in the same industry for years?

So, instead of doing something with NO competition...

Catch a trend early.

Get into an industry and learn about it, watch where things are going and make a move.

Do things better. Take a new approach to a common problem. Update an archaic system. Streamline a process using fast lane principals.

Needing to be the only person in an industry usually just means you’re afraid of competition because you’re sure you can’t go against someone else. That, or you think being the only one will mean you’ll make millions overnight. Usually it’s a short sighted mindset that says “I need a business with no competition”.

 

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[Siberia]

How do I find a business with little or no competition?

I'm looking to find a niche I can dominate.

Any suggestions?

Please read this book Inside there is the road map to create a monopoly!!!

 

[msufan]

This is the book I've read that was most relevant to this topic: Blue Ocean Strategy

The basic premise is that you can in fact try to create uncontested market space.

 

[Vigilante]

This is the book I've read that was most relevant to this topic: Blue Ocean Strategy

The basic premise is that you can in fact try to create uncontested market space.

Great book. I need to reread it.

 

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[Kak]

No competetition means no proven demand. Nobody knows to look for you.

If any of it is online then it automatically is in a competitive market (getting attention is hard)

Starting from square one means you likely only have a basic understanding of any industry. How would you understand an industry enough to know what products or services would be a good idea compared to someone who’s been in the same industry for years?

So, instead of doing something with NO competition...

Catch a trend early.

Get into an industry and learn about it, watch where things are going and make a move.

Do things better. Take a new approach to a common problem. Update an archaic system. Streamline a process using fast lane principals.

Needing to be the only person in an industry usually just means you’re afraid of competition because you’re sure you can’t go against someone else. That, or you think being the only one will mean you’ll make millions overnight. Usually it’s a short sighted mindset that says “I need a business with no competition”.

I think your mindset says “I’m a wimp that needs validation” create the validation.

Don’t put your advice in a box. There are a million dimensions to this question.

Do you want to build something meaningful? Do you want to create multi-generational wealth or chase money?

I second Peter Thiel’s book. You @Johnny boy should read it.