Do you think your market is overcrowded?
This past weekend I was at Brendon Burchard’s Expert’s Academy where entrepreneurs, coaches, authors and speakers learned how to position themselves in the marketplace as an expert. If you were to look around the room you would have noticed a very large percentage of women in the room. After speaking to quite a few of them, I noticed a pattern, many of them were coaching women in one capacity or another.
At first glance someone might have thought there are too many people trying to service the same market. However, here is the key factor that so many people miss out on. There is more than enough room in the world for everyone. Let’s think about it for a moment.
There are over 7 Billion people currently living on the planet. According to a report by the United Nations in 2014 approximately 3 Billion people have internet access. Let’s assume that a few more people in the past 2 years have gained access to the internet. If there are 3.5 Billion people who don’t have access, that’s quite a few people who don’t even have the capability of learning about who you are.
Let’s go back to the 3.5 Billion people who have access to the internet. Approximately how many people do you think any one individual can possibly serve with their message or their services? Look at Wal-Mart, they serve 100 Million customers per week! Yet they are not reaching the entire US population, nor the global population. Have you ever seen multiple banks located at a single intersection? If you have, there is a reason for it. That means the market share is large enough to support it.
So what holds people back?
The biggest thing that holds anyone back is a scarcity mindset. Far too often when we see multiple people offering the same service we do, we immediately think that there is not enough to go around. To put that in perspective we will utilize Real Estate as an example. Currently in the Dallas/Fort Worth Area there are approximately 26,000 active Facebook users who own a home and are most likely to move. Now lets assume that the number is only 1/2 of the true number since not everyone is on Facebook. That would mean there are over 50,000 homeowners at a given time who are most likely to move. Remember this is not including individuals and families who are living in rental homes, or apartment communities. So if you were a Real Estate agent, how many transactions would you need in a month for it to be a highly productive month?
What to do about it?
If you don’t have the number of clients that you feel you need to meet your financial goals, then it’s time to begin advertising your business. If no one knows who you are, then you are the best kept secret in the world. We live in a world, that it is a must for a business to advertise to be found. There are multiple ways to affordably place your message in front of your ideal clients and customers. The most critical thing you need to do is get in the game and get started with advertising your business.