I would avoid a market sector with no competition. If you have no competition, you're probably creating a problem to solve.
Sometimes competition is a bad word to use though, and it is better to think of as alternatives. For example, the first car company had no competition, but they had alternatives (the horse).
interesting, I've never thought of it that way. that actually is a fantastic parallel in this case, too.
I know competition brings innovation, but it still makes me feel very self-conscious about my abilities to create a comparable product, one that could be considered an "alternative".
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So, a market sector with no competition? Or is this sector still niche because only one service is addressing it?
I would avoid a market sector with no competition. If you have no competition, you're probably creating a problem to solve.
Sometimes competition is a bad word to use though, and it is better to think of as alternatives. For example, the first car company had no competition, but they had alternatives (the horse).
interesting, I've never thought of it that way. that actually is a fantastic parallel in this case, too.
I know competition brings innovation, but it still makes me feel very self-conscious about my abilities to create a comparable product, one that could be considered an "alternative".
Thanks for your response!