Thursday, January 17, 2013

Competition? AH I Don't Want to Know!

When I decided to start Girly Gauges, it was because there was a huge gap in the gauges market. I was absolutely certain that I could help fill that gap and give me, my friends, acceptances, and strangers, beautiful options for accessories. This was back in 2011, I started making my gauges and started selling and testing the market. I didn't do great, but I was starting and doing what I loved.

After a short time, I decided to stop working on the growing of Girly Gauges, it soon fell away and seemed to be forgotten. Once I was back on my feet instead of my bicycle (the summer of 2012 I rode across the US) I took a look at what was out there. A little to my surprise/ disappointment, someone else had taken a notice of the gap, and then another, and another. It seems that there are 4 other main vendors on Etsy who have taken note of this. I got frustrated, annoyed, and angry with myself for playing catch up. So for the rest of the year (2012) I chose not to do anything about it. I sulked.

The new year rolled around and with it a new resolve for me to be stubborn. I decided that I was going to make it work despite my competition. I started by making and posting. There are some real beauties up there! I've had some of my postings up for 4 days. I wish I could say I am a patient person who doesn't prefer instant gratification. So as I watch another day pass with no sales, I get anxious. I get paranoid that maybe my competition has filled the gap.

So what's a girl to do when there's competition on the loose?

How much do I look into their strategies, pricing, products?

How long do I stay in the game? What kind of goals do I set while keeping in mind my competition?

These are just a few of the questions I have for a market and a product I thought I had a grasp on. I think the important part is to name these questions, think through the fears, realize what is realistic and what is pessimism. As much as I am learning about business, and how much more I can learn, I am convinced that so much of it is a distinct stubbornness to make it work.  As I learn more, I will share my strategies on how to view competition.

Until next time, I'll leave you with my favorite recent post of gauges.

For Sale on Etsy

Until next time my little hell raisers,
Stay girly,

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