Saturated markets are often considered one of the biggest challenges for entrepreneurs looking to implement their business ideas. However, while competing with established businesses is often seen as a bane, it is actually a boon.

The saturation or oversaturation of a market is a clear indication of a demand for a good or service, making it only a matter of standing out and finding where opportunities lie. Unproven markets, on the other hand, require expensive and extensive testing, as well as risk-taking which might not always be necessary.

Imagine you have an idea for a great smartphone and would like to penetrate that market. With companies like Apple, Samsung, Xiaomi, and Vivo dominating it, finding your place in the niche might seem like a cyclopean task. It is not.

Risk-taking is an innate aspect of entrepreneurship that can't be avoided. As Mark Zuckerberg famously said, "The biggest risk is not taking any risk". The advantage of aiming for a saturated market is that you can reduce the risks.

Innovate to Stand Apart

Innovating to stand apart might seem obvious, but you would be surprised by how many aspiring entrepreneurs miss this point. Innovation is not only about a new design, feature, or service that you think is "cool". True innovation is more than creativity.

You can't expect to penetrate a saturated market without offering something truly innovative. Think of the success of the first iPod: MP3 players had been around for a while and offered all sorts of designs. What allowed Apple to enter and dominate the market was a combination of the style, features, design, and more importantly, the ease of use that iTunes' synchronization offered.

A recent example of a company making an effort to penetrate a saturated market through innovation is Kalyagen, a biotech startup trying to make it in the supplement market.

Whereas most supplement brands aim to focus on vitamins, minerals, and similar elements, Kalyagen is all about stem cell circulation. The company's CEO is one of the most recognized stem-cell researchers, Christian Drapeau. He is also the author of "Cracking The Stem Cell Code."

Communicate Clearly With Your Audience

True innovation will often come with a lot of doubts and misinformation that makes it difficult for most audiences to truly understand it. Technologies like the internet, cryptocurrency, and computers are an example of such a difficulty.

Being able to communicate with your audience in a clear manner is the way you can help them understand why you are innovating. This will not only remove doubts around the benefits you are offering but will also reduce entry barriers in the case of tech and science.

Unless you are looking to reach a technical and very specific audience, it is all about simplicity. By giving an easy explanation of what sets you apart and the benefits resulting from it, you are more likely to get a potential customer to give you a chance.

Inc