No, absolutely not. The opportunity on Amazon is so big and continues to grow, that it’ll never be to the point where it’s too saturated or competitive for someone to start. Whenever someone asks this question, I can immediately tell that it’s often coming from a scarcity mindset, a lack of confidence or a poor strategy on how to build an online business. Let me explain.
Yes, Amazon is competitive, which is a GOOD thing. I think often people have the hallucination that they’re going to find some “magical” niche or product that they can sell on Amazon that has no competition and will make them money forever. That’s not how it works. The truth is, ANY profitable or high demand niche on Amazon WILL have competition. And if it doesn’t yet, then it WILL soon.
So if you’re thinking you’re going to build a business on Amazon without competition, then think again. That’s a poor strategy that isn’t sustainable, because eventually there will be competition that wipes out your entire business and income.
The reason why competition is a GOOD thing is because it validates to you that the niche is in high demand, selling well and that there’s potential for you to make money from it. If I discover a niche without competition, I AVOID it because there’s not enough evidence that the market is big enough.
The other misconception that many people have, which leads to the concern about competition or saturation, is that they’re building solely an Amazon business. You do NOT want to build just an Amazon business. If you build your business just selling a product on Amazon, then that’s a poor strategy as you’re too dependent on Amazon for your entire business. Why would you want your entire business to be dependent on Amazon, where you don’t have full control - at any moment, they can remove your listing, delete your reviews, someone can hijack your listing, or your product keyword rankings can drop? That’s not a sustainable business and again, is a poor strategy and thinking.
What you ultimately want to do is to START on Amazon, but build a brand and learn how to market OUTSIDE of Amazon. If you build a brand and market your product through content marketing, social media marketing, pay per click advertising, etc… then you really don’t need to worry about competition or saturation on Amazon very much. Why? Because you’re not entirely dependent on Amazon for traffic and you’re sending people to your Amazon listing through sources outside of Amazon. This is what Amazon wants you to do, which gives you a huge competitive advantage over anyone else on Amazon and allows you to get more reviews and rank your product more than anyone else.
And finally, the concern or fear of competition ultimately steps from a lack of confidence or a scarcity mindset. To succeed, you need to believe in yourself, your ability to be resourceful and add more value than anyone else. You also need to focus on the OPPORTUNITY that exists on Amazon, rather than the lack of opportunity. Whatever you focus on, you will move towards and attract into your life. I believe the best ways to cultivate this confidence and abundance mindset is through self-development, as well as constantly improving and growing by investing in yourself.
One of the ways that I’ve developed my confidence and mindset has been through my daily morning rituals, which I dedicate the time for to create an unstoppable mindset. If you haven’t yet been through my Morning Ritual Mastery program, I’d highly recommend that you start that and over 7-days it can change your life. Click here to learn more about Morning Ritual Mastery.
Here’s also an article on cultivating the Abundance Mindset. http://projectlifemastery.com/abundance-mindset-vs.-scarcity-mindset/