Competition isn’t something you should be scared of, it’s something you should look for. It’s rarely a good idea to enter a “market” where there’s no competition, since usually those aren’t markets at all.
See, the best way to determine if people are buying things is to look for people selling things. Where there’s sellers, there’s buyers.
And if there’s a ton of sellers, it’s usually a big market.
Finding a market that has no competition at all is almost impossible these days. So don’t try to re-invent the wheel or “create” a new market just because you think people would want to buy something. Don’t sell what you want to sell, start selling what people want to buy.
As you can see, you should be thrilled if there’s competition in a market. The more the merrier. It means it’s a highly profitable market.
Never ever be scared of competition.
Instead, you should worry about saturation of products and audiences and look for less saturated products, items and audience segments.
For example:
If a product is really “hot” in the USA, and there’s lots and lots of competitors, that’s a great sign. It means the market and the product are validated. However, now you need to look for your share of the market in the form of finding less saturated audiences to target.
One way of doing that is to simply take what’s selling really well in the USA and then sell it to the United Kingdom, Canada, New Zealand, Australia or Europe. Those target audiences are less saturated.
The market as a whole is still very competitive.
And that’s a good sign.
But you can claim your piece of the cake (or market share) by looking for underserved and untapped market segments around the world.
This way you introduce a proven product, that’s selling like crazy, to potential buyers who are highly likely to desire it but haven’t been bombarded with the product yet. It’s a surefire way to win big time.
Another option is to look for underserved and untapped audiences within the USA itself. With the right amount of testing you can find interests and audiences on Facebook that are very responsive.
Also you have to understand that even if there’s a lot of competition, you can still get lots of sales by making better offers than your competitors (hint: create irresistible crushing offers with great discounts or use free plus shipping), using better sales copy and just being better at advertising and marketing than your competitors.
So let’s recap how to dominate a niche:
1) Find a hot product that’s proven to sell like crazy in the USA and sell it to people in other countries where people haven’t seen it yet
2) Find a hot product and sell it to untapped audiences in the USA
3) Do everything better than your competitors are doing (including better offers, writing better copy and being better at advertising)
Those are the three main ways you can win right now.
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