How to Create a Blue Ocean in a Crowded Market
When people are first looking at starting to add an income accelerator by starting an online business, the first thing they are told is that they need to pick a niche.
I am sure you have heard this, right?
People are told to follow your passions (which I do agree with) and everything will be all right, but it can be so hard to decide…
Have you ever had this trouble?
Most of us have…
People will say there are heaps of options they can build a business around, some examples are Cooking, Yoga, Fishing, Cars, Parenting, Chess, Video Games, Marketing/Business, Personal Development, Fashion, Martial Arts, Fitness, Relationships, Collecting Toys, Gardening, Boating, etc.
Now while this is true, and I have given this advice in the past as well, I have found that so many people still have a lot of trouble in choosing their niche and the direction they want to take their business in.
Recently, I came across a concept in Russell Brunson’s new Expert Secrets book that has a different take on choosing your niche.
One that will set you apart from your competition and allow you to create a blue ocean and stand out in a crowded market.
The three big markets
Rather than starting at “picking a niche” which often causes you to get overwhelmed, it is easier to start big, then go small.
Start with the three big markets of Health, Wealth and Relationships…
I am sure you have some experiences in all of these areas, right?
Now at first glance, you may think that you could build a business around one of these topics, but they are too broad.
A few years ago, experts would jump into these markets and do very well because there was little competition, but gradually more and more people started jumping into this space, and what was once a clear blue ocean, quickly become a red ocean full of sharks all fighting for a share of the market.
So then came the sub-markets.
You see, each of these markets can be broken down into sub-markets, for example, Health could be broken down into weight loss, fitness or nutrition…
Wealth could be, Investing, real estate or sales…
Relationships, into marriage advice, dating advice or parenting…
This is where a lot of people stop and believe they have chosen their “niche”… but the trouble is, as more and more people started jumping into these markets, the same thing happened… the market became overcrowded and once again it became a shark-infested read ocean.
A “red ocean” is a very competitive market where there are lots of thrashing about among competitors, all fighting for their slice of the market, that’s why the water has turned red.
An example could be web design, web hosting, SEO (in fact, any web area), or 90% of products and services (eCommerce, accounting services, coaching, consulting etc, etc.).
In fact, even driving instructors, guitar teachers and so on are in a red ocean too!
This is why a lot of people are currently struggling in their business.
I am sure you can see why?
The trick is to break it down further.
The sub-markets need to be broken down further into a “new opportunity” or a nice clear “blue ocean” with less competition…
For example, Wealth > real estate > Renovations…
Wealth > Online business > Facebook Ads…
Wealth > Online business > creating online courses…
Wealth > Online business > selling on Amazon…
Health > Fitness > Fitness for Busy Mums…
Health > Weight Loss > Weight Loss for over 40’s…
Relationships > Parenting > Dealing with Teenagers…
Relationships > Love > Dating after divorce
The riches are in the niches…
If you can find this blue ocean or new opportunity, then you will have a greater chance of success, much more quickly.
But it’s not necessarily so easy to find this new opportunity, true?
But there is another way I like to look at it…
Another “take” on it, is the blue ocean is you and your brand, and how you can teach things differently…
YOU are the Blue Ocean
Your blue ocean is YOU, because while there are a million consultancy businesses, eCommerce stores, flower shops, driving instructors and niche websites for X in the world, there is quite literally, only one of YOU, agreed?
So focus on THAT!
Focus on creating authority and building a brand that is different from everyone else!
While there may be hundreds of millions of products and services that are basically the same, there is only one of you.
This is what makes the difference and allows you to stand out!
So if you have a current business start thinking about what it is about you that makes your business different from others, what is it about you that makes the way you DELIVER your product or service differently, and what is it that you add in your own way that nobody else can.
That’s where you can compete, and that’s how you carve out your niche and take you out of the red ocean into a nice blue ocean.
For example, in my own business, I started in the Wealth/Financial Freedom market.
My sub-market was creating financial freedom by building an online business.
How did I differentiate?
Well, initially, I branded myself as “My Road to Financial Freedom” essentially telling my story as I worked towards financial freedom and helping others along the way – which was fine for a while… but it wasn’t enough to stand out!
So now, while having sub-niches that I can teach such as Affiliate Marketing, Website building, product creation, sales funnels, money management and mindset, my big differentiator is re-branding myself as The Financial Freedom Warrior.
I can teach these concepts, but my whole vision and “new opportunity” is to create a whole community of Financial Freedom Warriors working together to fight society to create their freedom!
A blue ocean…
So how can you be different?
How can you stand out?
How can you create a blue ocean and stand out in a crowded market?
If you have any questions or comments feel free to leave them below.
To your freedom,
John W. Newman
The Financial Freedom Warrior!
Helping you create TIME AND FINANCIAL FREEDOM by building a PROFITABLE Business Online!
Dream It… Believe It… Then Achieve It!
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