This week, two ladies emailed me about being possible competitors to a business model - 1 that I currently have and 1 that I'm building now.
One let me know she was going to pursue it, but saw that I was going to do it, so she would be backing out. The other just gave me a friendly heads up that she would be going head to head with me and didn't want to step on any toes.
I told both of them to go for it! I LOVE having competition. If it makes you so nervous that you prevent yourself from moving in on an idea or strategy, then you need to find the strength and beef up your mindset a bit.
I NEVER, EVER ... EVER worry about competition in ANY niche. EVER.
There's room for everyone in my opinion.
People email me daily asking, "Do you think _____ niche is too saturated?" No. Never. Nothing's saturated.
Competition makes you a better marketer. If both of those ladies competed with me and all my customers fled my site to sign on with them, then it wouldn't make me quit - it would make me up my game even MORE.
I didn't even bother to see if anyone else was pursuing these business models before I did it myself - maybe they were! Maybe they think I'm rude for not emailing them and giving them a heads up. But I don't see Burger King emailing McDonalds when they're building a new site right across the street. That'd be silly - it's business.
Now what WOULD be rude is if one of those ladies looked carefully at my exact business model and copied exactly what I was doing down to every last detail. Wouldn't be illegal or anything, but to me, it'd be shady and more importantly - pathetic.
And I know as a customer, I would look at that new person as a copycat - and would rather buy from someone with some originality in their noggin.
To me, business is kind of like sports. When I was training for the LPGA (long story), I wasn't just competing against the other golfers I played with in tournaments - I was competing against myself, trying with each round to shave 1-2 strokes off my game and lower my handicap.
I really didn't care what the other 3 in my foursome were doing, because I was only concerned with my OWN game. This is also what enabled me to get into IM. There were already plenty of other leaders, so why bother with the niche?
Because I WANTED to, that's why. I don't ask permission - I didn't go to my former guru clients and warn them or give them a heads up that I would now be competing with them on some of the same topics.
That's THEIR problem, not mine. I have to say, both those ladies emailed me because they ARE ethical and they ARE sweethearts - but it was totally not necessary. I want both of them to give me a run for my money, so that ALL of our customers get some FANTASTIC value for their investment.
Without competition, many people would do the bare minimum that was required of them, and how sucky would that be for us as consumers?