Think Your Idea Is Already Taken? Why That Should not Stop You!
So you think your idea is already taken? I hear you! That has stalled my progress a million times! My guest Gabriel Kaam in this episode, we sat down to discuss why you should not give up on your dreams just yet!
Starting a business is exciting, but let's be honest—it can also feel overwhelming, especially when you are diving into a market that is already full of experienced players. Whether you are dreaming of a lemonade stand, a fashion brand, or an online store, you might be thinking, “Is there even space for me?”
You are not alone in that feeling. Many new entrepreneurs get stuck before they even begin—not because their ideas aren’t good, but because they are worried about the competition. In my conversation with Gabriel Kaam, business coach and expert at KNR Agency, we break down how to start and grow your business—even if the market feels saturated.
Even When Your Idea Is Already Taken: Focus on the Customer, Not the Idea
Gabriel’s approach to starting a business even when your idea is already taken might surprise you: start with the customer, not the idea. While it’s tempting to get bogged down in crafting the perfect product or service, Gabriel emphasizes that you should first understand what your potential customers actually need or want. Once you identify their pain points, you can tailor your business to solve those problems.
Do not worry about the million of competitors. Instead, ask yourself: "what do people want, and how can I provide that?" says Gabriel.
It does not matter if your business is a law consulting firm, a fashion line, or something else entirely—what is most important is identifying what the market is lacking and finding a way to fill that gap, ideally with better quality or a more efficient solution than what is already out there.
A Personal Example: Finding Opportunity in the Market
I can relate to this advice from personal experience. Several years ago, when I first moved to England, I noticed that in the small town I lived in, there weren’t many African food shops. The few that existed were far away, and the prices were steep due to the lack of competition. It was clear there was an underserved market, and I saw an opportunity.
At the time, my idea was to sell African food online. I did not want a physical store because it would take up too much of my time, especially with a young family and a full-time job. So, I turned my garage into my makeshift store and started selling African food directly from there. It was not glamorous, but it worked. Looking back, I realize that I missed some key steps that could have helped me scale the business faster, but the point is that I saw a market need and took action.
As Gabriel said: Before you start find a gap and fill it! Bring your unique torch to the market. It won't be long before your customers identify what makes you, You.
What If You Have Already Started Without Research?
Many entrepreneurs jump into business without the luxury of time or resources to do in-depth market research. So, what happens if you’re already in the game but didn’t follow the “research first” advice? Don’t worry—you’re not alone.
Gabriel encourages entrepreneurs in this situation to take a step back and re-assess. Even if you’ve already launched your business without doing thorough research, it’s never too late to pivot. Take a close look at your customers’ needs, gather feedback, and adjust your approach accordingly.
"The most important thing is that you started," Gabriel points out. "Now, it’s about refining your offering based on what your customers really want."
Final Thought
In conclusion, while it is natural to feel overwhelmed by competition, focusing on your customers' needs rather than your business idea can be a game-changer. Whether you are just starting or have already launched, always stay open to learning and adjusting. Identifying market gaps and creating solutions for your target audience will set you on the path to success—even in a crowded market.
Here are some key takeaways from this conversation:
- Competing in Crowded Markets: Gabriel emphasizes the importance of understanding why customers choose your business over competitors. It is crucial to talk to your customers directly to uncover what makes your offering unique. This can help you carve out your niche and focus on providing value that others aren't offering.
- Mistakes in Launching Online Businesses: Gabriel points out that many entrepreneurs get caught up in things like perfecting their About Me page or hiring expensive legal help when they have not even acquired customers yet. Instead, the priority should be on developing a solid product and focusing on customer acquisition first, rather than investing heavily in branding before the business is profitable.
- Outsourcing and Automation: Both Gabriel and I discuss the challenge of being a solopreneur and the burden of handling everything alone. Gabriel suggests that initially, entrepreneurs should handle tasks themselves to understand the work involved before outsourcing. Once they know the processes well, they can hire help or automate tasks to save time.
- Building Customer Loyalty: Gabriel stresses the importance of maintaining relationships with existing clients. Regularly checking in with clients—whether things are going well or not—helps to identify any potential issues early, increasing client retention. Long-term relationships are often more profitable than constantly seeking new clients.
- Storytelling in Sales: Gabriel explains that storytelling plays a pivotal role in selling, especially for luxury products and services. By telling a compelling story that aligns with your customer’s identity or aspirations, you can create an emotional connection that drives sales.
- Focusing on High-Value Tasks: Entrepreneurs often struggle with time management, and Gabriel suggests focusing on three important tasks each day that directly contribute to your business's growth. Prioritize these tasks and don’t get bogged down by less important, urgent-seeming tasks that won’t move the needle.
- The Importance of Working with Intention: Both Gabriel and Ngozi discuss the importance of being intentional with your time. By setting clear goals and tasks, entrepreneurs can save time and avoid distractions that won’t help them achieve long-term success.
Gabriel runs an agency with his cofounder working fashion, beauty and luxury brands to help grow ther e-commerce brands. Connect with with him through his website and on linkedin
Launching a Podcast?
Are you ready to share your story, engage an audience, and build your personal or business brand? Then, launching your own podcast may be what you need! And it is easier than you think! I have compiled the five tools you need to get you started. Go to the link in this episode’s show notes to check out my special links.
Microphone and Headphones: Start with what you have. Your phone and your phone’s headphone. You can invest in basic microphones plus headphones like Eksa headset with microphone for laptops and phones (you need the c/ adapter). And as you grow, invest in a high-quality microphone like the Blue Yeti for crisp, professional audio that elevates your podcasting experience. Check out all of them here.
Recording Software: You need a recording platform and I cannot recommend Riverside FM enough. You can also do basic editing with this software. You could also choose reliable Audacity, GarageBand ( I use this for all my podcasts)or Adobe Audition to effortlessly capture and edit your podcast episodes. I have used all of the above. And they are great.
Podcast Guest: Most podcast needs a guest Find yours in Podmatch
Setup Your recording With a Scheduler: If it is not on your calendar it won’t happen. So let your guests schedule recording sessions with you on your calendar. I use zoom scheduler.
Learn From The Experts: My favourite is Jenna Kutcher. Do her masterclass here and learn how to monetize your podcast here.
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