3 Truths About “Too Much Competition”

Recently, a client asked me “I really want to be a coach, but there too many coaches out there, because I see them all the time on Facebook and stuff, it seems like there's going to be a lot of competition”.

And the answer to this question is really three important truths to realize (and this applies not just to coaches but any type of industry because every industry has competition).

#1 - The Pie Is Not Limited

So to think that there's only a scarce supply of customers it's kind of a scarcity mindset as opposed to abundance mindset and that's not just some “woo-woo” kind of thinking but there's also a lot of fact behind it. So as an example only 1% of the population actually want a coach. So it's not really about competing for a slice of that 1%.

The real challenge and the real focus should be how to carve out of the rest of the 99% of the population; how to inspire them to want a coach not to just all compete for that slim 1%.

As an example - education started in 2009, so we've been around for about 8 years. During that time I would say we've trained about 50,000 different people, that's roughly 50,000 different people that's a lot.

But when you think about it that's only the same amount of people that went to a football game last week. So an average football stadium in Australia might hold about 50,000 people. So all of our life's work so far 8 years in business with you know a team of 12 people etc etc, just the same amount of people as a football game.

If you compare that to the Australian population we're talking 0.02 percent, we've reached 0.02 percent of the population. We can't even keep up with the population increase. If the population increases at 1 percent then we're still one fiftieth of the population increase of 1 year so it's ridiculous if you think about that that's where we get the abundance mindset from. The good news is industries to do with a difference-maker, being coaches, authors, speakers, workshops, online educators; all of that is expanding at a rapid rate anyways.

#2 - Industry Bias

You're probably seeing a lot of Facebook ads related to coaching because you're in the industry. I mean Facebook kind of markets according to what you like best if you're clicking other stuff to do with coaching and personal development and mindset Facebook's going to show you more of that.

So every time you jump on Facebook you think wow there's so many coaches out there. But just realize you're the 1% of the population that's getting all the stuff to do with coaching. The other 99% are getting stuff on you know shelving and sports and weight loss and hair and you know all this other stuff.

#3 - RAS (Reticular Activating System)

It may seem like coaches are everywhere but that's because of your "RAS" (Reticular Activating System). You can walk down the street and you could think oh wow there's so many coaches out here or there's so many Mazda's - but that's because you are a coach or you drive a Mazda - that's why you're seeing what your brain is looking for as well. The same person could walk down the street and think "there are so many properties for lease in the city, how can I compete?" but that's only because they're looking for it as well.

So I hope that really kind of puts to rest some of the fears people have such as there's too much competition where in actuality you're just really seeing what you're looking for and more importantly from an abundance mindset.

You're not trying to go after that 1%, you're trying to carve out the other 99%. And we all have the ability to carve out the rest of the 99%.

You could have coffee with a friend of a friend and suddenly they're interested in a coach. You didn't take that client from another coach and you're not competing with them, you're competing with yourself in essence to create your customer base, not to compete with someone else and fight for them.

If you want to know a lot more about the mindset it takes to succeed creating a business from scratch doing what you love; if you want to know the exact steps to market your product to actually perfect your communication to actually package yourself, I recommend coming to the upcoming one-day event Prosper From Your Passion. Learn more or Book now

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Cham is the CEO and Head of Marketing at Authentic Education since co-founding it in 2009. He is passionate about productivity, empowering people, marketing and is creator of Digital Marketing Made Easy.

He has worked for Anthony Robbins, Chris Howard and Dr John Demartini from "The Secret" and has featured in BRW magazine, News.com.au and newspapers such as Sydney Morning Herald and The Age.