“Being great at everything is not an actionable message.”
– Floris Maljers
“The critical ingredient is getting off your butt and doing something.”
– Nolan Bushnell
A very common excuse or rationalization that people use for why they can’t make money online with a blog, website, youtube channel, product or whatever, is that their desired idea or niche is already being done, and being done better than they could do.
The first problem with this line of thinking is that it is the mindset of a loser. This is a pithy topic that I have touched on before and will expound on further in the future, but it is super important to adopt a mindset of looking for opportunities instead of excuses. They are both always going to be there, and whichever you put time and effort into, that’s what you are going to find.
Beyond even the mindset issues, this train of thought has another problem: It just isn’t true. It is really rare for a business to be the first or really the best in its field, that MOST out there are neither. But you don’t have to be to make money. The fact that 98% of these businesses even exist is proof of that. As long as you are offering a solid product, there is always an element of preference, product differentiation, and other factors that can give you some sort of market share however minimal. If you are an entrepreneur who is looking to create diverse streams of income, you really don’t need to capture a very big portion of the market to have a big impact on your personal finance situation.
Also consider that when you are talking about content production (information and entertainment) for a blog or Youtube channel, it is not a zero sum game. If 20,000,000 people overall are subscribed to Youtube channels about fitness, you don’t have to take subscribers from those other channels to get some for your own. Those people can subscribe to multiple channels without decreasing the revenue generated by each individual channel. The same is true for any online venture where you are after views and creating income predominantly from ad revenue.
Obviously there is a limit to the number of channels a person can subscribe to and the number of videos they can watch, but that is NOT going to be your limiting factor, trust me.
So consider any currently popular website or youtube channel; when the creator of that site sat down and decided to build it, there were already most likely other popular sites or channels about the same thing. If they had let that be an excuse for why they couldn’t make it work, their site/channel would not be making them money like it is today. Never let fears like that stand in your way.
Obviously it is great if you can come up with something that IS the first of its kind, or genuinely the best in its niche, but if you can’t don’t let that be a reason for why you sit on your ass and do NOTHING instead.
One caveat: You must absolutely not use the above facts as an excuse to produce anything below the level you know you are capable of. There is never a reason to do less than your best. This article is about not letting the perfect be the enemy of the good. You can get a slice of the pie, and you don’t have to be the first or the best. It is much more important to go with what you are passionate about, because that makes the work easier, and your ‘realness’ is obvious in the finished product. You can come into a field late and as an underdog, and still compete on a number of different levels, like quality, price, or simply preference. Some people will just dig your style and format more than others, or as much as others.
So stop making excuses and start making money!