I'm too scared of competition. Is it reasonable or not?

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As above. I'm too scared of competition.

Let's say I would like to open a dropshipping store on the X topic... if I find more than 2 store in that niche I usually get depressed and I give up the idea. Because I think there is no space for new stores.

And as you can understand, it's almost impossible to find niche where competition is <2.

May I ask your opinion about this? Is my fear fair or is blocking me? How many competitor do you have on your dropshipping store? How much value should I give to competitor?

Thank you
#competition #reasonable #scared
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  • Profile picture of the author dave_hermansen
    If you find something with no competition, I can guarantee you it is not worth pursuing. The key to success is finding niches with viable keywords where you can rank on page one, preferably in the top 5. The key is NOT finding things that NOBODY wants to waste their time and money promoting. There can be a million competitors but the only thing matters is who is on page one for each search term and whether you have a chance of beating those sites and taking their place. Nobody cares about who is on page 2 and beyond and neither should you.

    There are lots of pages on most websites - all of which can be targeting unique search phrases. Figure out what ALL the search phrases are that you can target with your website, creating pages around, and see how many of those have sites that can be beaten that show up on page one for those search terms.
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    • Profile picture of the author ShadowLink
      What if I'm trying to promote my store through facebook ads?
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  • Profile picture of the author MValmont
    Competition is great, it means people are making money in this market.
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  • Profile picture of the author Marsha sarv
    Competing for something makes you more predictive, more efficient to analyzing and more to learn. So there is always more and more you get when you are competing so it's a good thing.
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  • Profile picture of the author 60clicks
    If there is a lot of competition than you know there is a worthwhile marketshare. Make something better than your competitors, they might switch to you.
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  • Profile picture of the author Chris Marcell
    I would say your fear is blocking you...

    If you keep preventing yourself from taking the first step to building your business - 5 years from now you'll still be on step one.

    It's good that your conscious of this negative behavior because it allows you to take control and change it.

    I would recommend for you to just dive into drop shipping in a niche your passionate about.

    Stop second guessing every move you make and start believing in yourself.

    The root issue that you're dealing with here is that you don't think you have what it takes.

    A good way to raise your confidence is to practice daily rituals in the morning. You could repeat to yourself in the mirror several times a simple sentence like, "I'm good enough to achieve my dreams."

    And over time, your subconscious mind will start to be reprogrammed with a more positive mindset.

    Good luck and wish you much success!
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  • Profile picture of the author ryanbiddulph
    Hi SL,

    I found out a cool strategy for dissolving this fear. Because I clung to it too, for a long time, in my blogging niche.

    Be yourself.

    Then, when you are being your true self, let that personality bleed through your work.

    Simple solution, but uncomfortable at first, because you are probably trying to be like all the successful IMers out there, following their advice, copying them to a T.

    When you stick to the fundamentals - creating and connecting - and add your authentic personality, the competition disappears and you co-create with other successful, authentic online marketers.

    Ryan
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    Ryan Biddulph inspires you to be a successful blogger with his courses, 100 plus eBooks, audio books and blog at Blogging From Paradise
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  • Profile picture of the author angeloflove
    I USED TO BE AFRAID OF COMPETITION. But then, I discovered something: that competition is simply all about finding a better way to do the same thing. Think of only this - finding a better way to do the same thing - and you will begin to love competition like I now do.
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    • Profile picture of the author TonyRoberts
      Exactly what I was going to say! Great point here.
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  • Profile picture of the author JasonTheFreeman
    The thing about competition is that they don't necessarily exist to be beaten. They are mostly used as a comparison, for your own business if it is doing, aw well as the others.

    Don't be scared, it's perfectly normal to be wary of competition but don't be pressured to outmaneuver or beat them.
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  • Profile picture of the author harishcbg
    Any business without competition means we are in the wrong business. Competition is healthy and a motivating factor for every entrepreneur. We need to focus on our business and have a close watch on the competitors' too!!!
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  • Profile picture of the author yukon
    Banned
    Don't be scared grasshopper.
    • Traffic will buy from multiple sources.
    • A lot of traffic doesn't comparison shop unless it's high end products/services.
    • Traffic will never find every single seller for one product.
    • Nobody can tap all the traffic for one niche.

    I don't have the energy to explain it all, lol. I've got work to do.
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  • Profile picture of the author pradab
    How do you make money here
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  • Profile picture of the author Shantanu Tikadar
    To answer this question, we need to look at both the marketing theory that we study in business schools and the practical aspects. Firstly, if we look at the the theoretical aspects, to operate in a market with less than two competitors you would need to come up with an idea or innovation that is truly novel or create a blue ocean strategy for yourself which would also require you to innovate and think out of the box. Loads of marketing and strategy gurus and come and gone and they have almost always advocated us to find a niche where a healthy competition exists. In a nutshell you need to operate in the same competition and find a hole in the market and then find a market for yourself in that hole. Therefore, theoretically healthy competition is good for you.
    Secondly, if we look at the practical aspects, I believe that there is a lot to learn from our competitors. Today, I work in a fashion retail brand and every now and then we are benchmarking our competitors to find what they are doing and how can we improve. We are testing new things on our e-commerce platform regularly to find something that customers can relate to and guess what, we get a lot of inspiration from our competitor's ideas. Therefore, after considering the practical aspect as well, I can definitely say that competition is good for you and your brand. I do not have any idea about dropshipping store so I will give those questions a pass.
    At a personal level, even though I propagate this thought of competition being good, I can truly relate to your fear as I have a similar fear as you do, and this regularly keeps stopping me from quitting my job and starting out on my own. Best of luck.
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  • Profile picture of the author JohnVianny
    You have to re-frame the idea of competition.

    One of the key point to indentify a profitable niche is if it has ENOUGH COMPETITION: if not, it's not profitable.

    As an example if a keyword has less than 1000 research per month is not good at all.

    But, i know what are you saying and where it belongs your fear: of course too much competition is not good, and you have to narrow your niche.

    In fact, in a series of all equals cow, a purple cow has more chance to get noticed.

    So you have to think of UPS: what is your UNIQUE selling proposition for your niche?
    What could you give that only you can do like this?

    As an example im focused in Email Marketing: i can provide step by step coaching for making money ONLY with emails. Not dropship, amazon, or anything else. ONLY emails and for DIGITAL PRODUCTS.

    Go in deep in your niche and choose a particular problem and solve it. I 'm focused in list building and lead nurturing to make sales with digital products, you?
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  • Profile picture of the author Meghann Uy
    It's normal to be afraid of competition, but you have to face this too. Having competition will pretty much help you grow and be better, not just as a person but as a business. It's also a good way of checking what makes others successful.

    The only time your fear will be a hindrance to you is if you let it stop you from taking action.
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  • Profile picture of the author sarah01
    That's great. i like your idea. And about competition, you will find it everywhere in every field. We all face difficulties in initial phase of our business. All you need to focus on SWOT analysis for your business.
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  • Profile picture of the author Bryan Zazz
    As many said in this thread:
    You should welcome and embrace competition, it's your best ally!!
    Just don't let id decide your fate.

    BE the master of your destiny, don't give that control to your competition or your fears. Easy to say, difficult to do.

    Being scared is good as it's a system designed to keep us alive by preventing us to do stupid things. But too much fear is bad if you allow it to limit yourself and not TAKE ACTION.

    Listen: you WILL make stupid mistakes, you will lose money - on your path to learn how to "make" money. It's a learning process you just have to go through. Others here or elsewhere can give you guidance and encouragements, but in the end it's your life, it's your business, nobody else cares as much about it as you do.
    So go for it DESPITE whatever obstacles and competition.

    The important thing is not the competition.
    It is YOU TAKING ACTION! Now. Today. Just go for it.
    Whatever you do, expect failure as normal. when you fail it means you took action ... and that is a good thing: you are now one step closer to your goals - more than 97% of all the other Warriors who don't take action and just chase Shiny Objects.
    Don't be that guy.
    Be the Action-Taker Guy. That's the path to success.

    So Embrace your competition! Welcome it.
    Embrace your fears. That's how they shrink and eventually disappear.
    Embrace failure! That's what will make you learn.
    You don't learn from your successes. You learn from your failures.
    Stop over-analyzing and Just go for it.

    And when things are really really bad - and they will - stop for a moment, pad yourself on the back for the road you've traveled so far, then read this poem:
    https://en.wikipedia.org/wiki/Invictus

    Then dust off, reload, and go back on the attack !!
    Doesn't matter how many times you fall, all that matters is the times you get back up.

    good luck!!
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  • Profile picture of the author Maxxx333
    Stop being scared of competition, and know that if you want to go for a business with no competition, then probably the business is not worthy, and you will end up leaving with no real payout! I think yes it often happen that people get scared to go into a business or starting something in which they will face some challenges, but challenges make you better in the way that it helps you not to sleep and work your ass up, to achieve results, then being in the competition is the thing you should be expecting while thinking a business, if you know you will not have any competitor, then go away from that, it will probably be a waste of time! start your business, and work hard, try to keep eyes on your competitors, but most important you can subscribe to tools out there to spy on your competitors, but you should work simply!! Good luck for your campaign!!
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