I’m a strong believer in living a life that you love. To do this, you need to enjoy what you do (i.e. your work). Often, I meet people who are unhappy with their jobs and want to start their own Internet businesses. When the time comes for them to almost take that leap, they freeze and begin to doubt themselves. I’ve noticed that one of the main causes of hesitation is the presence of competition, and the idea that a market is too saturated and the business will fail.
I’m here to tell you that you ought to embrace your competition. Stop fearing them! Develop an abundance mindset and realize that if your market is competitive, you’re entering a lucrative market!
The abundance mindset, simply put, is a concept in which a person believes there are enough resources and success to share with others. The Internet has flattened the world, opened up lines of global communication, and has given everyone the opportunity to start their own profitable business. Yet, when people think about starting an Internet business, they adopt the opposite mentality–a scarcity mindset–which means that if someone has already been successful, you already have lost your opportunity. That’s preposterous! (<– My word of the day )
The Internet is far bigger than you think and is still growing! There is so much more room for you and others to share success in any given niche or market. You need to develop an abundance mindset if you’re going to be successful in online business, especially if your offering is connected to a competitive market.
Don’t hold yourself back just because someone else has already started the business that you want to.
As I mentioned, the Internet still has a lot of room to grow. 70% of the world’s population have yet to venture into cyberspace . As a result, more people are taking their first step at becoming Internet entrepreneurs because these people know there is a lot of opportunity on the web. They have the abundance mindset required to be successful online in any market, competitive or not.
You can either believe in yourself, celebrate the success of others, and be part of it, or let your competition and newcomers control your market because you were afraid to take that step and deal with your competition. If you have the confidence, drive, and skills to start your own business, do it. Don’t hold yourself back just because someone else has already started the business that you want to.
Any business worth starting is going to be competitive. That’s the nature of the game, and it’s rare that anyone can come up with a truly unique business idea that creates its own, new product or service category. Embrace your competition and the gift of the Internet. Once you develop an abundance mentality, you’ll understand that it’s very possible to share the abundance of profits, recognition, and responsibility that come with starting an Internet business.