If you think there’s too much competition in your marketplace, what you’re really suggesting is that you don’t think you are good enough to compete! Think about it, if you focus more time on being better than the rest, chances are the competition won’t matter much.
You’ll most likely be able to charge more for your product / service and have better customers who are willing to pay for the best.
Remember, no matter where you are at, you’re going to have issues, what kind of issues would you like to have?
In highly competitive markets, there seems to be quite a few customers, in not so competitive markets, there doesn’t seem to be any customers. Do you want to have to create a customer or focus on a better product /service that will attract customers that already exist?
In the beginning, new markets have to go through the early adopter phase. These people have to buy into what you’re selling and if they don’t, you’ll never make it to the mainstream marketplace. Would you want to find yourself stuck with a product that won’t sell?
Everybody wants what they don’t have. Figure it out and give it to a market that knows what they don’t have and you’ll come out a success. Take the time to look at what people are asking for and businesses aren’t giving to them and then create it.
A perfect example is the new Chevrolet Volt which is struggling to sell. The Government has been demanding to build these cars, but the public won’t buy them. You can get a big time rebate on the car, people still won’t buy them.
Offer a Camaro SS or Corvette ZR1 and they have customers all over wanting to buy these cars. Build what the customer wants and then sell a bunch of it!