The biggest mistake a new business can make is to try and corner a niche market or to invent a new market. While there are exceptional businesses that do make money doing this, for every success story there are many thousands who fail miserably.
There is a reason why all you competitors are piling into one part of the market – that’s what customers are buying. Always listen to your customer’s money (as opposed to your customer’s opinion).
Taking out a small part of a large market is good business.
If you are worried that segment of the market might not last too long then set up your inventory/staffing so you can switch rapidly.
The other great thing about a crowded market is that you can check out what is and isn’t working in terms of attracting customer’s attention.
Remember, never be the pioneer in a new market and go where the action is thickest.
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