Choose "Up-and-Coming" for your Business

Why should you choose an up-and-coming business as opposed to a business that is already well-established and a proven winner? The answer is simple... competition.

If you are starting a new business in an already established field, you will have much more difficulty successfully breaking into the market. This is because there are already established businesses in the area that already have their roster of customers, and it is much more hard to convince a customer to switch when they are happy with the business.

But when you are entering a brand new field of business, suddenly you have the potential for all those customers that did not have a place to purchase your kind of item or order your type of service.

For example, when Amazon.com burst onto the scene, they were really the only bookstore online that had that type of selection available for customers. Since then, other businesses have tried to jump on the bandwagon, but have never met the same success (from the buying customer's point of view) that Amazon enjoyed. Almost every person online who plans to purchase a book will head to Amazon.com first.

The same is for eBay. eBay was the first auction site on the web and rapidly grew in popularity. Other auction sites have come and gone but have never been able to get the same exposure with the same number of bidders and sellers as eBay has. The reason is simple. Bidders go to eBay because that is where the sellers are. And sellers go to eBay because that is where the buyers are. Again, eBay is the first stop for most people shopping online, especially for collectors.

The same goes for your business. If you are the first person to offer a particular item or service, you have a much larger customer base, because you are meeting a need that is not available anywhere else. But if you decide to go into the Beanie Baby or PEZ business, you have competition left, right and center (not to mention that there is a saturation on the market - creating a buyer's dream, but not a market where there is a lot of room for profit from the seller's viewpoint.)

So when you are starting out, think of a business that can be up and coming, or think of how you can put an unusual spin on it to create a whole new market. For instance, gift basket businesses creating a spin-off business for care packages - two completely different (yet still complimentary) businesses that has virtually the same product - just packaged a different way.

If your business is a tried-and-true as opposed to an up-and-coming, your spin can be your most valuable marketing tool, and can possibly create a whole new market in the process.

About Us | Contact Us | Submission Guidelines |Privacy policy
Copyright 2001-2012