🤼‍♂️ There is no competition
4 min read

🤼‍♂️ There is no competition

We all experience how the internet is connecting billions of people in increasingly powerful ways. But it takes time for us to understand all the consequences of this shift.

One incredibly positive effect is that in many places there simply is no competition anymore. No matter your niche, the market accessible to you will stay far too big to ever reaching a point of saturation for you.

The first reason for this is the dramatic difference between the distribution of digital products compared to physical products.

Imagine a street in a small village with 10 bakeries next to each other. For a physical product like bread, this would result in cruel competition. The market in reach for distribution would not be big enough for variants of the same product.

But imagine bread would be a digital product. One bakery delivers its bread to Yoga clubs in California, one specializes in French pastry in Germany, the other one focuses on healthy sandwich bread for fast food chains in South Korea.

The world is far too big for these 10 bakeries to come anyway close to each other's way. Even if they would focus on an identical niche. They could benefit from staying close to each other. It would make it easier to share lessons learned and best practices they can all apply to their individual audiences.

A second reason for almost no competition is that Knowledge Entrepreneurs are people.

Humans may be ready to quickly switch between commodity products. Switching between favorite brands is already harder. But when it comes to other human beings, we tend to stick with who proofed to be reliable in the past.

Think about your teachers or coaches. You may compare them when you are just starting out or when you are particularly unsatisfied with a result. But what would it take for you to switch to a different teacher as long as you are still learning?

You'll see how most of your audience will gladly prefer you over other experts. They will not care that there are plenty of other people offering them similar expertise. They chose you!

There are more reasons that can explain why creators overwhelmingly agree that they never experienced any downsides from opening up to other experts in their niche. It could be in the form of guest posts, podcast interviews, mastermind groups, or just friendly conversations.

The rising tide of the internet raises every capable ship.

Take this as an affirmation: There is no competition for you.

Show up, deliver value, and most of your audience will gladly stay on your side 🙌

Prompt :: a different perspective on other experts in your niche

Make a list of other entrepreneurs in your niche. Now, look at them as allies rather than competitors. How could you help them and how could they potentially help you? Let this sink in.

A stretch goal: reach out to them with some value, e.g. share some industry insights or give them positive constructive feedback on their work.

As usual, reply to me with what you experienced and I'll provide feedback 😀

Stack :: A memory upgrade for your expertise (Roam Research)

In my neighborhood of the web, Roam Research is a superstar. Digital note-taking enthusiasts are fascinated by the possibilities that Roam Research unlocks. The app lives up to the slogan Building a Second Brain. Picture it as a simple text-based editor. You start off each note as bullet lists. Similar to Notion, each bullet list item is its own entity and can be referenced in other notes. Like a Wiki, Roam makes it easy to convert any word or string into a link that leads to a new page, where you start a new note. The magic happens when you open one of these pages and see the so-called backlinks. Roam shows you every block that either links to this page or just contains the link label as a word. Looking at this feels like a rush of forgotten memories streaming into consciousness.

I use Roam not for text processing but rather for thinking in text. For example, I frequently move my daily brain-dumps from Drafts into Roam to keep a reference and see the connections. (I describe the process here in a video). I am convinced that tools like Roam will significantly enhance the brainpower of experts in the near future. So I highly recommend you to look into the power of backlinks and start to implement a practice to collect your knowledge in such a system.

Profile :: Wisdom for Rebels (David Fuller)

I follow the Rebel Wisdom YouTube channel for some time. David Fuller interviews interesting experts and creates short reports about complex ideas. You can feel his journalistic background and ethos as he worked for 10 years as a reporter, producer, and director for Channel 4 news in the UK. Starting from the YouTube channel he expanded into events and a community (hosted on Circle) doing frequent events and live calls. Most frequently I noticed his Sensemaking 101cohort-based online course. He also provides much of his video content as audio via podcast.

Only while writing this piece I discovered his Co-Founder Alexander Beiner. I still think that Rebel Wisdom is a great example for the path of a Knowledge Entrepreneur. It would be next to impossible to present and discuss culturally loaded topics such as psychedelics, internet culture, race, or media in general on a mainstream channel. Even if adhering to journalistic practice. Rebel Wisdom uses the technology to distribute its content independently and creates a sustainable source of income in the process.

Small bites from the web

I am currently in preparation to sign up all my family and friends for this newsletter 🙈 So in case you have some constructive last minute feedback how to make this newsletter even better, then let me know.

Greetings from a snowy Berlin ☃️


PS: Next Wednesday I'll be hosting my 10th Salon about Character (of Knowledge Entrepreneurs). I really enjoy these sessions and received very positive feedback. Consider to join us some time! 👋

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