When entering a crowded industry, don't try to compete everywhere. Narrow your focus repeatedly until you find a micro-niche where you can compete from day one or dominate an overlooked segment.
If you're just starting off into something, believe me, if it's a big idea, which it probably is, if it's a really exciting industry, it's probably got a lot of competition because that's why there's an opportunity because a lot of people are doing really well, making a lot of money, having a lot of success. So you need to step back and say, what is the one thing that I can step in here and at least compete from day one in this niche? So I'm going to take this big idea. I'm going to niche down, maybe niche down again. Until I find something that I can say day one, I'm at least competing with other people in this specific niche, or I'm dominating this niche because it's being overlooked and ignored right now.
Episode 575: Redefining Retirement as the Day All Your Choices Open Up with Doug Bennett
