Creating muse in already covered niche market

[jonty12]

Hey guys,

Question: I was looking to develop a product in my niche but it turns out there is a pretty strong player that already exists. The player is well established, has advertised in the industry magazine, and even have reserved booths at industry conventions.

The question I have is there doesn't seem to be an easy marketing chink. The product seems well-researched, reasonably priced, very well-designed and credentialed. Has anyone faced this situation before? Is it possible to just chop a small enough segment to earn some cash or is it a pipe dream?

[David_D]

HI Jonty

Its always possible to slice a bit of that chunk. Look at what he isn't offering, or what he is doing that isn't right. I think labelling him as a major player, is possibly not correct he may just have a few pounds(/dollars) behind him that gives the impression he's big. If he has found the massive market, and is busy as hell and running his own monopoly, and he really is good. Copy him. Some of the best business ideas came from looking at someone who is successful and well copying them. Plus why not look for the bits of the industry he considers to be 'not worth it' your not trying to fund a whole company... your trying to fund your life... that not worth it segment might be worth 10k a month, but he focuses his attention on the big fish, which leaves all the littleness for you to capture... lots of little fish fill a big basket.

ok now I'm babbling

[adios pantalones]

There is always room for competition. If you put a big enough dent in him, maybe he'll buy you! ;)

[sub8hr]

Well, to take a different tack on this. The idea of an undiscovered, unexploited niche is really a myth. You will have to deal with competition, period. The good news is that most of the competition will likely suck, so all you have to do is be better than them.

[froldt]

Even better news is that you only have to be better than them in one way to get started. Improve from there.