In the book Blue Ocean Strategy, Renée Mauborgne and W. Chan Kim go over creating the category for your business that doesn't exist yet.
For example, if you just teach people how to make money, or how to get a date... You will be competing with thousands of people that are already selling exactly the same thing.
Let’s say that you have three main categories Health, Wealth, Relationships.
The problem is that those categories are multi-billion dollar gorillas already so to create a product and be seen would be close to impossible.
So, by looking at my funny painting you’ll see what I mean.
Wealth will split into Finance, Investing, Real Estate, Sales and so on...
Health will split into Diet, Training, Weight Loss, etc
Relationships will split into Marriage, Dating, Love, etc
And these smaller items will split into even smaller niches.
There are 3 levels: Category -> Sub Category -> Niche...
So when you drill into 3 levels you are in the Blue Ocean. But when you don’t drill in at all and stay on the 1st level, then the sharks will eat you up alive...
Create your OWN category by creating your OWN niche... And if there’s no competition you won’t have to fight for a piece of pie, but that’s because you own the pie! :)
You passive income guy