Home Based Business Lie Number One / For MLM'ers And Network Marketers Only By Jane Quade At Isnare.com Ezine Articles

Here we go with Big Fat Lie Number One:

Our product is a one-of-a kind and there is absolutely nothing like it anywhere else in the world. There is zero competition for this product.

Not true. Or at least you better hope it’s not true.

Why?

Because if you truly have a product so unique that there is nothing else like it on the market, you should seriously consider dumping it.

That’s right, consider turning around and running from this company.

The truth is that the market is overcrowded with many products that are similar to your product. Ok. So maybe there are no two identical products but they are pretty darn close. You know it. I know it and so does everyone else. But don’t be alarmed because this really is a good thing.

For starters, the fact that you actually have competitors is a very obvious sign that you have a product or service that has a target market large enough that it can support all the different competitors vying for market-share. Competition indicates that your particular product / service is in demand, and has probably maintained a demand for a substantial amount of time. In other words, your product or service is not a fad; there is an established marketing niche associated with what you are bringing to the marketplace, and an established consumer base capable of sustaining numerous competitors for long-term and repeated consumption.

Competition offers the opportunity for improvement, for introducing new and more effective solutions to an existing product. Competition is the catalyst for more viable and satisfying products, to offer the consumer more for their money. It sparks innovation, and drives manufacturers to constantly be improving and testing new and creative ideas. That’s good for all of us as consumers and business owners.

If someone is telling you that they have a “brand new, competition-free” item, take a real hard look at what is being offered. Before buying that line, ask yourself a couple of questions that could save you a whole lot of money and wasted effort:

1. Is this something brand new, never before seen or is it simply an improvement to an existing product or service? This will clarify (at least in your own mind) if what you’re dealing with is a product of innovation, or simply a manufacturer betting that the equation will be FAD + HYPE = consumption. If you come to the conclusion that what you are offering is an improvement to an existing item, then sigh with relief, and find out what characteristics separate your product from the rest of the pack.

2. After answering question number one above, if you decide that this product or service really is something brand new, your must next ask yourself if there really is enough market demand to support this type of product/service. This is where it pays to do your homework. If someone is offering a home-business opportunity, and one of the key characteristics of the opportunity is the fact that there is no competition, figure out if the manufacturer has done enough research to substantiate the premise that what they have to offer can honestly be supported by the market of consumers outside of individuals looking for a business opportunity. Be wary, however; products and services that purport to satisfy “new” or “evolved” needs and desires are most often accompanied by a generous helping of hype and exaggeration.

Remember that competition is a good thing. It is what has made our country so great. The fact that competition exists in your industry and mine merely shows that there is a true opportunity to profit. Stop trying to find a market with no competition because it really doesn’t exist. Even patents ultimately can’t stop competition. So get excited and start competing.

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