People love to say everything has been invented under the sun and there are no new business out there. Several companies such as Uber, Airbnb, Rent The Runway, The Bouq and many more have proven there is a plethora of business models out there to be discovered. However, if the industry you are trying to launch in or currently in is very oversaturated and you’re trying to figure out how to maneuver through the over-saturation in the industry and stand out can be some work.
Identify Your Niche
Within every industry there is specific niches that you can file under. For example, there are different levels of hotels, to motels, hostels, to rentals and more. Its just not the hospitality industry anymore. You can pick which sector of the industry you want to file your business under. If you have not spent a day or two researching your industry I would highly suggest spending the day doing so. Get some espresso, music, note pad and great wifi to dig deeper into your industry. Understand where the over-saturation is high in regards and low in the over. This will help you figure out your true plan of attack to win.
Your Mission + Vision
One thing, I did not have for a very long time was a company mission or statement. When I was a boutique owner I didn’t feel like it was needed, but boy was I completely wrong. Your mission is what drives you as business owner and keeps you moving when you feel that your industry is over-saturated and know one will ever know you. The creative entrepreneur business blogger consultant industry is growing at an alarming rate. I have been blogging since 2012 and started consulting in 2014. My vision is to help a million women through entrepreneurship. I am able to stay focused and not worried about competitiors in my market simply by the thought that I want to establish the tools, resources and be the voice for those who want to change the world with their business no matter how small or big.
My favorite store hands down has to be Nordstrom. We have a bromance. I don’t know what to call it other than that. Those are my homies and they just get me. I honestly believe they just get their customers and who were are. No matter what time of business you run be it B2C or B2B you have customers that you must work with. How you handle situations regarding them is how your business will stand out when dealing with over-saturation in your market. Most businesses “deal” with their customers. Successful business know how to handle situations. Do you see the difference in the two. One sees the issue as a problem and other sees an issue that needs to be resolves to make sure their customers have a better experience. Having an outline of how you want to handle situation that arise in your business is super important.
There are so many business owners that ignore their customers, then there those who block their customers and then those who want to help find a situation that makes everyone happy. You need a game plan for everything that might happen. This is playing the game of what if and creating a strategic game plan that helps be proactive verse reactive.
Marketing Plan Is Innovation
Is your business just like everyone out there? To be honest there is a plethora of t-shirt, jewelry, scrub, & hair extension companies that are just the same. They do exactly what the next one does. I always believe in you’re going to enter a market that is experiencing over-saturation you better innovate the heck out of it. I use to be the biggest fan of fashion, interior design and lifestyle bloggers then I felt like they were carbon copies of each other. Making me stop reading their blogs and much more. So many bloggers have quit blogging to do other things there audience was no longer there. You need to always remember your vision and mission for your business. How can you take those things and innovate your market?
You can’t stand out in your industry if you are focused on what your industry is doing. You need to learn from the past, the present is meant to get better every chances you get by learning from other industries and your future is meant to set a new way for the business model to grow.