Is it Too Late to Start a Business? That's a Myth!

You often hear people say, "It's too late to get in, there’s already a strong player in the market." It seems like a competitor who has already established themselves in the niche is an insurmountable obstacle. However, the reality is much more complex, and the presence of a strong competitor is not something to fear, but rather, a huge advantage.

You often hear people say, "It's too late to get in, there’s already a strong player in the market." It seems like a competitor who has already established themselves in the niche is an insurmountable obstacle. However, the reality is much more complex, and the presence of a strong competitor is not something to fear, but rather, a huge advantage.

Why Competitors Are Your Allies

When there is already a strong player in the market, it doesn't mean that the space is filled up. On the contrary, it signals that the niche is stable, and thus, the market exists with established demand and clear expectations from consumers. You gain access to valuable data about what products work and which ones don’t. You can analyze sales funnels, customer behavior, pricing models, and more. This provides you with a unique opportunity to speed up the process of entering the market and offer something more effective than your competitors.

With competitors already in the game, you're not starting from scratch. You have the chance to refine your audience segment, select a sub-niche, and adapt your strategy to not directly compete, but instead, offer customers more practical solutions for their specific needs.

Example from the Education Market

Let's take the education market as an example. This is an industry that is experiencing a boom of innovation and resets. In EdTech, there is a constant disruption (breaking of old models). Some are developing new learning formats, others are incorporating game elements, and some are completely changing the way information is delivered.

However, despite all the changes, core subjects remain stable — such as programming. But recently, we’ve seen the emergence of new niches. Programming is no longer just for those who want to become IT professionals. Now, more people are learning Python to build a Telegram bot for themselves or automate their own business. This isn't a competition with traditional courses, but rather a parallel market that exists alongside the main one. And there are many such niches.

When There Is No Competition

When there is no competition in the market, the situation changes. Here, you're not just offering a product, you're effectively changing the way people think. You’ll be working with a cold audience, one that doesn't yet feel the need for your product. This is always a more challenging path because you need to create demand and instill a new perspective on why people need it. Products that enter completely new markets can succeed, but only if they are backed by a truly unique experience and clear value.

A great example of this is artificial intelligence (AI). There’s a lot of talk and hype about it, but there haven’t been many implementations. This is because people are waiting for someone else to make the first move and take the risks. So, the question is: should you go into something new first or wait? I tend to agree that it’s not always the first mover who wins, but rather the one who gets it right.

The Strategy for Success

So how do you succeed in the face of tough competition? First of all, you need to understand that all niches are not fully occupied. Most of them may seem crowded on the surface, but in reality, they are made up of dozens of sub-niches and unsolved problems. Within these spaces, there is always room for new ideas, new formats, and new voices.

In this game, competitors are not your enemies, but rather an invitation to play your own way. Often, the winners are those who don’t just copy the technology, but find the deeper meaning in it and transform that into unique value for their audience.

Approaching competition as an obstacle leads nowhere. Instead of fearing strong competitors, use them as a source of information and opportunities. Competitors can become your allies if you learn to see their experience with intelligence. And perhaps, you will be the one to offer the market what no one else thought of.