It’s a crowded marketplace online these days (3 strategies)

Jan 14, 2022

The upheaval of the past couple of years has brought A LOT of people into the online business world.

There are folks who were forced online due to layoffs or business shutdowns. Those who have had to change their schedules and lifestyle to accommodate for taking care of kids and family. Folks who simply had ‘enough’ of unsatisfactory workplaces and weren’t willing to stick around. Or who had always dreamed of doing their own thing and thought ‘now is the time to do what I really want to do.’

Having worked online now for over 20 years I LOVE seeing how many more folks have come into our online world. It’s a great place to be and there is loads of opportunity in the online space.

And, let’s be real… more folks online means more competition.

If you’ve been online for a while now you may have noticed that it’s getting more crowded. There are more people out there now who ‘do what you do’ – be it as a coach, trainer, OBM, VA or otherwise.

And it’s natural to be wondering “How do I stand out?” or” Why would someone choose to work with me when they have so many other options?”

Here’s 3 strategies to consider when you want to stand out and succeed in a crowded marketplace.

1) Go Deep

I do a trends call for my Certified OBM Association each year and one of the 2022 trends we talked about was micro-niching. Being a generalist isn’t enough in a crowded marketplace, as you are positioning yourself to be the same as everyone else with the same title as you. Look for ways to go deep (focusing on the few) vs. wide (focusing on the many.)

For example, if you position yourself as a business coach you are instantly competing with every other business coach out there. If you position yourself as a business coach who helps founders prepare their business for sale within 3 to 5 years, you’ve instantly positioned yourself to work with a very specific type of client. You can get known for doing this specific thing and can go deep in your expertise there.

2) Leverage your Genius 

If our goal is to go deep (as shared above) it also brings up an opportunity for us to leverage our genius. It’s soooo easy to build a business around doing ‘all the things’ – especially when we are good at doing many things! Not only does this put us in the mix of all the other generalist “I can do anything you need me to do for you” folks – it is a recipe for stress, overwhelm and potentially burn out.

It is more important than ever to align your business with your strengths – your genius – in a crowded marketplace. Your genius may be the thing that has you stand out from the crowd, while building a business that is energizing and enjoyable.

3) Stay the Course!

Imagine you want to grow a fruit tree. First you plant the seed. Then you spend time tending to the seed – giving it what it needs to grow. Everyday that you tend to the seed it grows and over time you will have a beautiful tree.

I see too many folks in the online space messing up their seeds. They plant a seed and 3 months later get tempted by another type of tree that they think would be easier to grow, so they abandon their seed and plant another one. Only to be distracted yet again by what they were promised would be a bigger tree, planting yet another seed and starting all over yet again…

In many ways this is the most important strategy – give your seed time to grow! Commit to tending it daily through your actions. Give folks time to get to know you for what you do. Give yourself time to really dig in and go deep. Every time you change your mind you are essentially starting your tree over again from scratch. My recommendation is to always give something at least a year (maybe two) in order to really see what is possible and to allow your success to really bear fruit (pun intended 😉

To be clear, there is still TONNES of opportunity out there for all of us. Crowded doesn’t have to mean we can’t create the success we are looking for, it just means we need to be more purposeful and strategic.

I’m curious – do you feel like the marketplace has become more crowded? If so, which of these strategies feels most relevant for you? Or what are you doing to navigate these crowded waters?

0 Comments

Submit a Comment

Your email address will not be published.

How Scalable is your Business?

Take our 5-minute Assessment to find out if your business is ready for the next stage of growth (and if not, what is missing…)

Archives