Quantcast

How To Make An Impact In A Saturated Market

The name of the game is mindset over everything.

Business

I've been an entrepreneur for almost nine years. As I enter a reflective state of mind, I find myself watching new businesses springing up every month, especially by women of color across my local community of Atlanta, Georgia and beyond.

As a profit strategist, I help new entrepreneurs create and identify their opportunities for profit in their business and the first conversation I have with clients is an understanding of what their common "struggle" or "obstacle" is in their business.

As I document a consensus in my mind, the majority of new business owners are enthused on the thought of becoming an entrepreneur but struggle with clarity, balancing, and a "saturated" market. You know, "saturated market", when there are too many people doing what you do.

Let me be clear.

Saturation is a "thing", but it only is a thing of the mind. As a millennial, you are in one of the most creative generations where fearlessness and a solid stance on equality, balance, and justice is embedded within us. In order to truly thrive as an entrepreneur in this day and age, here are a few keys to keep in mind.

Know Your Value

media3.giphy.com

When launching your business, it's important to not focus on how many people are doing what you do, but what's your differentiating value to the market?

Your differentiating value is known as your market-add and some identify it as a culture-add. What new vibe does your business bring to its industry?

This is the value you bring to the marketplace that has not been done. What value does your business have? This could be your customer service, quality, depth of knowledge, experience, product scarcity, etc.

It is your responsibility to know how your business adds value.

You can't expect to see a tribe pull up on you if you're not doing anything different. Either you need to make what is already done better or create something entirely never done before.

Build Interest Through Story-Selling

media2.giphy.com

Once you understand your market-add, it's time to determine how you can build interest so that you can break through the noise.

A strategy to grab the attention of your audience on social media is through what I like to call "The Story-Selling Framework". This framework involves you creating a past (a hook), present (a struggle), and a remedy (a solution) post. This framework can also be used for your e-mail marketing. It is a copy tactic.

To start your story-sell, you must start with a hook. A hook is an attention-getting headline or story opener. The goal here is to grab your audience's attention in the first sentence. A photo or video can be a hook. The next step in story-selling is identifying a struggle of your audience. What annoys your ideal client or customer? Is it not having time? Is it not having enough energy? These are all common struggles, obstacles, and annoyances that your ideal client may have. Create a list of 3-5 common struggles your customer or client is having right now. The goal here is to agitate the excuses your ideal client has.

Finally, the "remedy" is the last statement in the story-selling framework. You are the remedy to your audience. It is important that you focus on how you're the solution as it relates to your social media post(s).

Consistency, Consistency, Consistency

media0.giphy.com

In story-selling, you must tell your story at least 7x on as many platforms as you're active on.

As a vet in entrepreneurship, it is important for you to understand that this is a LONG RACE. Entrepreneurship is not for the faint or weak at heart. It is for those with determination, will-power, and strength to endure even when the results are not immediate.

You may not win quickly.

You may not make money right away.

You might have to sacrifice.

But what I can guarantee is consistency is the only way that this race will work out. Shift your mindset to believe that one day the check WILL come and it will! Invest in the growth of your business. If you aren't willing to make a financial investment into your own self, why would you believe others would into you?

Invest In Self

assets.rbl.ms

Do not freebie your business to death. When you invest in programs, masterminds, retreats, coaches, learning, conferences, etc. you are telling yourself that you are betting on you! There's nothing quite more admirable than you putting your money where your mouth is!

Pay your homegirl for her work, tell your homeboy you could use his services, pay these people so the energy that you give off only exudes there's a "price" for that. Your vibrations will be higher when you have money invested.

You will work harder.

You will know how to repel people wasting your time.

You will feel empowered as a business owner to only do business.

The key to success in business is research (test to see what works in your audience and keep what gives the best results), relationships (create a community and collaboration in your local area), and reputation (provide great experiences for your clients or customers so they can refer or #repost).

As you thrive in your journey with entrepreneurship, understand you don't need to feel defeated. You can have a sustainable business in any market because the value you bring is ordained in you.

You were chosen to carry it out, it is and always will be your gift.

Want more stories like this? Sign up for our newsletter here to receive our latest articles and news straight to your inbox.

Featured image by Shutterstock

It's always good to be able to get a warning or preview of travel experiences before booking a trip. Who wants to spend hard-earned money traveling somewhere only to find that they've gotten themselves into a horrible, unsafe, or unsavory experience that could've been avoided? And if you love to travel or are looking for your next vacay spot, you've probably come across lists detailing the best and worst countries for Black women via your IG Explore page or your YouTube suggestions.

Keep reading... Show less
The daily empowerment fix you need.
Make things inbox official.

Sunday night was filled with watch parties, buzzing group chats, and never-ending social media posts all in celebration of the beginning of the end to HBO's Insecure. From debates surrounding friendship and relationships to healthy discussions around therapy, postpartum, and office culture, Insecure explored it all, and in a way that felt authentic and incredibly familiar. And while I'm a lover of many different types of television shows, I can honestly say Insecure is just different, special.

Keep reading... Show less

It was December of 2009 that I made an impromptu decision to cut my permed hair off. My reason for making that drastic change was due to ending a dating relationship at the time and the painful experience I went through from relaxing my hair in my dorm a couple of months prior. Cutting my hair immediately left me feeling bold yet boy-ish whenever I found myself dressing down or not wearing lavish earrings. After several months experimenting with wearing twist-outs, dyeing it myself (I was extra bold with that) and even getting my first blowout (that later resulted in heat damage), I thought I'd been hiding my beautiful kinks due to laziness.

Keep reading... Show less

So, what exactly is K-Beauty? Well, it's not as complicated as it seems or sounds. Essentially, it is a skincare routine that uses Korean beauty products that originates from and is made in Korea. What makes K-beauty special is that the products are created using a Korean beauty philosophy. Unlike some skincare products that yield short-term results, Korean beauty products are designed to work long-term. The idea of long-term skincare isn't new. Dermatologists have always said we can see improvements to the skin in three to six months with consistent treatment and routine.

Keep reading... Show less

Common has become a fixture in the hip-hop scene thanks to his longevity in the game. And while he is known for hits like "Go!" and "Come Close", he is also known to have dated some of the most beautiful and talented Black women in the world. The "Glory" rapper has dated Erykah Badu, Serena Williams and now he is romantically linked to Tiffany Haddish.

Keep reading... Show less
Exclusive Interviews

Adrienne Bailon Wants Women Of Color To Take Self-Inventory In Order To Redefine Success

"You can't expect anyone else to care about yourself like you do."

Latest Posts