Some industries and markets are extremely competitive and saturated.

I’m not sure it’s a good idea to enter these industries and markets without a clear-cut competitive advantage.

How will we distinguish and differentiate ourselves?

What makes us unique and special?

What separates us from the pack?

If we don’t have a good answer to these questions, we may struggle.

We only have so many family members and friends that can support us.

Our brand and reputation helps.

Being trustworthy, likable, and having a good personality helps.

Experience matters, but there are a lot of people with experience out there.

Being an expert and skilled helps, but there are other experts who are skilled out there.

Just because we like a product or service and use a product or service doesn’t mean it’s a good business or a good investment.

Just because we like an industry doesn’t mean it’s a good industry to be in.

We can do anything we put our mind to. Where there is a will, there is a way.

But is entering a competitive arena without a clear advantage smart?

What can we do differently? What is our advantage?

Be creative. Think outside the box.

What’s the best use of our time? Where’s the most upside?