Just because the business you want to enter is crowded with competitors doesn't mean you can't succeed.

You’ve taken the leap and decided to turn your passion into a thriving business. The problem is that your passion lies in an industry that’s already over-saturated with businesses just like the one you envision. There’s value in finding an untapped market, but you don’t have to toss your dreams aside just because you’re not the first person to have an idea. Startups are emerging as leaders in saturated markets by carving out a niche.

Saturation Means Strong Demand

A saturated industry is a sign that there’s a lot of opportunity in the market. If entrepreneurs avoided entering markets that are already served by other businesses, consumers would have far less options.

Tap Into Change

The key to success in a saturated market, is change. If you don't know what's changing with your customers, competitors, features and more, your customers will buy from those who do. And that’s precisely where new businesses have an edge. New companies often recognize the gaps that established businesses don't. If they're correct, they gain customers and grow. The challenge is not to become like the established businesses who think they know better than the customer, Larger companies that have been in business for decades are sometimes set in their standards, and it’s more complicated to modify long-standing practices. Small businesses with less rigidity and a smaller organizational hierarchy can often make quick decisions and turn on a dime.
In any entrepreneurship course, you’ll be advised to choose a business model and figure out how to do it differently or better than existing companies. In some cases, though, you might already be in business and experience a sudden boom in competition.

Differentiate Your Business

If you’re really good at keeping your finger on the pulse of the industry and the waves of change, that often sets you apart from the competition. Small businesses that differentiate themselves are able to thrive in the most competitive environments. “My advice is to do your homework, define what makes you different and embrace that difference wholeheartedly,” says Bob Myhal, CEO of NextHire.
No matter how crowded your industry, even if it's full of major brands, you can achieve success by setting yourself apart. Whether that means reinventing industry standards, taking a new approach to the business model or offering something customers can’t refuse, carving a niche in the most saturated market is possible with commitment and creativity.


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