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Your biggest competition
Fri, Feb 04, 2022
When we hear competition, most people think of competitors who are competing in the same market.
However, the biggest competition almost always (and in most domains), is indirect competition.
Far more than competing providers, the biggest opposing force is a target market member who is sure that he doesn’t need you because he thinks he can get the job done by himself.
Typically, most competing providers occupy a cumulative 10–20% of a market (unless saturated) and 80% of the market lies untapped.
While the interested buyer is the low hanging fruit worth pursuing in the early days, don’t forget that scale and eventual success lies in changing the mindset of the masses.
Takeaway
Is this same persona your biggest competitor too? Let me know here.