Everyone has competition. If you do business online then you’ll have competition online. And here’s the sad part: Your online competition could be completely different than your off line competition. That will mean that your business will face more competition, not less, for being online. Congratulations!
Sarcasm aside, it’s time to see competition as a good thing. Sure, your competition can do some things better than you. But you can also do some things better than them. Your goal as a small business owner is to take inventory of your strengths and see where you best fit into the marketplace.
HINT: Take inventory for both your online business and your off line business.
When you take an off line business online you are essentially starting a new business. You are not just adding an extension of your existing business. You are entering a whole new market. Is there some crossover? Yes. Your current customers will likely find you online. But you will also likely find new customers online that never would have found you off line. At least, you hope so. That is the goal.
For these reasons, I always tell small business owners who go online to do business to study the competition online and figure out what your niche is – online. Your online niche could be a lot different than your off line niche. But you need to find it.