How can we overcome the competition associated with online business ?

[Sotherefore]

Online business has been among one of the most lucrative business most people are doing and this has generated money to thousands of people worldwide . More people are being introduced into it on daily basis , Because of the competition associated with this area of business it is becoming more and more difficult to earn with it.

And also Because of this competition in the online space , people will possibly face a lot of challenge when trying to earn some money with online business. Some people who may have been interested to earn some money online may not likely to make it because of the competition associated in it which is one of the major disadvantage.

Competition online can be observed in So many Ways such as in freelancing, most newbie finds it quite difficult to engage in freelancing because they Early participants are those in full control base on their high rating.

As a blogger you can also face a lot of competition on the content you are writing , your content must be of good quality to attract traffic since there are thousands of people who are also writing the same contents.

Competition in the online space has prevented a lot of people from earning online in their different areas. I was just wondering what could be the possible ways to reduce the competition associated with most online business . If there is a solution to this possibly it could help most newbies to establish themselves perfectly in the online space.

 

[kayode10]

It can be very difficult to overcome competition when you are just getting started with your online business. The reason is that you might not have enough resources to compete in the marketplace.

The Only Way Out is to develop unique selling proposition for your product or service you are rendering. This is the reason why it is very important to do research before you can establish any business be it online or offline.

Your major aim with the research you are doing is to discover untapped market. this will give you opportunity to make most of the money by exploiting the untapped market before others could discover it.

You are going to waste more of your resources when you are competing with giant in your industry. The best thing is to carve out niche for yourself and make most money for yourself.

This is often referred to as blue ocean strategy. Blue ocean strategy says that instead of competing in an existing market you should watch out and create a new market for yourself and be the leader there. They should be the approach of anyone who wants to start online business.

I usually employ this strategy whenever I am doing keyword research for my niche website. This help me to generate traffic quickly to the website.

 

[moonchild]

To overcome competition is to do things differently, first off I think our first mistake is thinking too much about competition, we need to understand the abundance mindset and incorporate it In the way we do business and how we see it entirely.

If you look at the music world you can say for sure there's a stiff competition and people are finding hard to break in but still there are millions of stars all around the world that made their fortune through music and many are still doing it, because the universe can contain everyone.

So when you are getting started online you should just focus on You only and how you present your services, don't worry too much about you competition sure, you can check them out and notice what they are not doing corretly and use that as your edge to make customers.

Get yourself a marketing guy to help you get your business out there and then learn to provide exceptional services to your customers that will always make them come back.

A lot of people have missed life changing opportunities just because of the fear of competition and competition will always be there whether we like it or not

 

[Bookwormlux]

There is actually no way for an individual to completely avoid competition when it comes to the business whether it is on the internet or offline .

The fact still remains that ; competition is what really makes everything interesting , as it goes a very long way in making sure that more and more ideas come up when people get to realise that they are in a race and have to always be considered as the winners since nobody wants to ever lose to their competitors at all no matter the cost .


What is should be thinking of rather is how you can try and up your game so that your competitors will not be ahead of you .
This is usually when you acquire the knowledge and are willing to apply it into making sure you improve yourself and not remain at the same level with other people who are competing with you.

The information you possess is what gives you your difference and paves way for you even though the market which may be saturated with people from different countries , trying to exploit the little opportunities that we have in the different making money online opportunities available .

 

[Mika]

There are many ways to survive the competition associated with online business. I will share a case study associated with facebook and tiktok, the two most popular social media platforms. Since facebook was well established social media, Tencent, the owner of toktok decided to create a new platform with a completely new feature, the short videos. Toktok was able to survive. When tiktok gave fierce competition, facebook decided to add short videos on its platform. You can see, toktok created new product, where as facebook implemented the feature that was getting popular with the audience. You can over come the competition by introducing new products

 

[Kendy]

I do not think we can completely overcome the competition associated with online business. It is a known fact that the uproar of the covid-19 pandemic exposed so many people to ways of making money online. There will always be competition and the only way to stay relevant would be to bring about creative ideas and innovation. Clients and customers would always like to patronize or stick to those who are creative and this is because, they want their money to be worth the quality of what they pay for. Even offline, competition still do exist and it would not stop anytime soon.

For example, if you are a content creator, you need to be highly skilled and versatile. Also, you should not assume that you are embodiment or ocean of absolute knowledge. To grow, you should be willing to learn, unlearn and relearn. With this way, you can bring about creative and novel ways which can grab the attention of potential audience to your expertise. I encourage that competition should exist, this is because, without this level or degree of competition, the clients or customers would not be valued and there would be indiscipline in the part of some online workers.

 

[Chibson]

There are so many businesses people are venturing into on daily basis, but one of the main reasons a lot of people do not actually succeed is the level of competition in that business.

If you really want to succeed in any business, you want to try as much as possible to be very competitive.

The truth is that whenever a business is very lucrative and there abound to be a lot of competition and you cannot really take it away from that business but you try as much as possible to stay on top of your game in order to be successful is not your business.

There are certain things you must do in order to become very successful in business and some of them are;

Passion; If you are passionate about a particular business, you will try as much as possible to be very successful in that business even if you are not succeeding initially. When you go to something because you are passionate about it then there is a high chance that they will probably succeed because you're not there for the money only.

Knowledge: The truth is that there is no way you will succeed in business if you do not have proper knowledge and understanding of how it works.