Do you think all the good business ideas are taken and it’s too late to join the party?
If you spend any time on line or subscribe to newsletters then I don’t have to tell you that lots of people are selling or offering the same thing.
For the last five years or so, I’ve seen more people getting side gigs, selling coaching services, selling things on Etsy and this year, well, it seems more people have been invited to join the party.
Many of you have told me you’re calling it a day because it’s getting harder to stand out from the crowd when your subscribers are being bombarded with exactly the same thing product, service or even message.
Don’t leave the party just yet, but think about ways you can do things a little differently and here are a few ideas to get you brainstorming-
Niche, Niche, Niche
I mention this a lot and that’s because it works. Take an over saturated market and think about a sub market that’s untapped. I read once about this lady who got tired of so many competitors selling used designer clothing on eBay that she finally decided to pick one item and that was designer scarves. You might think how much money can I make selling just one item like this but this is why it worked. One, others too are thinking there’s no money to be made with just one product and hence the untapped market, Two, you’re more likely to rank higher in the search engines when you have a more descriptive listing, like designer scarves as opposed to designer clothing. Three, less looking for lots of items and hence more time to get focused on finding products that you know will sell.
I’ll be launching new writing classes in 2021. I know business will be slow at first, reeling in my first students is going to be a challenge so I’m going to be offering them some sort of bonus, like a free book or an hour’s free coaching. Think about something you can offer that your competition isn’t willing to.
PR All the Way
I worked in public relations for a good part of my career and I know the value of getting the word out there. Don’t overlook this component of running a business. Keep on promoting and telling the world about you and your business. (More PR posts coming up this fall).
Sometimes I’m shocked at the poor customer service I receive these days. It’s almost like companies and people are independently wealthy and own a business for a hobby or to simply pass the time.
There used to be literal word of mouth, one person telling another about the lousy product or the service being awful, but now there’s social media and word can spread quicker than ever before and to people who aren’t even in the neighborhood. If you own a business, pay attention to customer service because it could put you above the competition without you having to spend any money or doing anything extra.