Episode 433: The benefits of being late to the online business party – #tashmas DAY 3

Do you sometimes wonder whether you left it too late to start your business? The good news is that you’re not alone, and there are benefits of being late to this online business party.

That’s exactly what I’m addressing in this episode of the Heart-Centred Business Podcast, and it’s Day 3 of #Tashmas so there’s a special gift in it for you as well!

But first: What is #Tashmas?

I do it for both my birthday (1-12 March) and pre-Christmas (1-12 December) every year! You get a daily podcast episode, with a hot tip or practical strategy as per usual… but you ALSO get a present every day! It could be a freebie, a special offer, a competition… something fun every single day.

Today, let’s map out some of the BENEFITS of being late to start your online business…

Let’s dive in!

EPISODE 433: Listen using the player below, or click the links to your fave platform to subscribe and listen over there:

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Is it too late?

You might think starting an online business now is daunting with all the competition and market saturation. Especially now that we’re in an economic contraction, it seems to be easier for more established businesses to adjust their strategy and survive, because they have an existing audience. But being late to the party isn’t always a bad thing. In fact, there are some really juicy benefits – I have four in particular to share.

You’re not alone!

I remember when I started this podcast all the way back in 2015, I thought I had missed the boat completely when it came to podcasting. I was sure that the entire podcast market was completely saturated, and there was no space left in the market. That’s particularly hilarious because three of the podcasts I listen to consistently are in the Top 10 in Australia, and didn’t start until 2019 or later. I had already been running my podcast for 4 years when they started.

Does audience size matter?

One of the things people get very concerned about is the size of their audience – especially on long-established platforms. If you haven’t made it on Facebook by now, you never will… right? WRONG! New pages emerge and generate huge followings quickly, even to this day. But the days of needing a big following, or measuring your success by audience size are over anyway. Anyone can buy followers. That doesn’t actually mean you’re successfully running a business on that platform.

Using Facebook as the example, Facebook ads have become really cheap compared to what they were 2 to 3 years ago. I’m seeing a big drop in the cost of Facebook ads because there’s more competition for the advertising dollar from other platforms now, But there are business owners who saw that ads were getting more expensive a few years ago, and decided to abandon them altogether. Similarly, now that Instagram Reels don’t get the same reach as carousels and feed posts, people assume they’ve missed the opportunity to grow an audience. Same with TikTok.

I can absolutely say without fear, that all of those spaces still have room for growth. If you’ve got the right strategy, you can still create a standout brand on any of those platforms, whether it be podcasting, YouTube, or social media. Of course, growing your mailing list is still a valid and viable strategy to grow your business.

I don’t think that it’s too late to start an online business by any stretch, and certainly not if your main concern is audience growth.

The four key benefits of being late to online business

1. Flexibility and Adaptability

One of the biggest advantages of starting your business now is the flexibility that newer businesses have over their more established counterparts. When the economic contraction started in 2022–2023, many long-standing businesses struggled to adapt. With large overheads, expensive marketing campaigns, and established systems, they found it difficult to pivot quickly.

In contrast, as a new business owner, you can keep things lean. You can adapt quickly to trends, change platforms, or revise your content strategy with little resistance. For example, many larger companies pre-schedule their content months in advance, which means if something doesn’t work, they have a harder time adjusting. On the other hand, you can tweak your strategy without the burden of sunk costs or complex systems.

I’ve spoken to several owners of multi-million-dollar businesses who wish they could go back to their “scrappy startup” days when they had more freedom to experiment. If you’re starting now, you can take full advantage of this agility.

2. Lower Barriers to Entry

Starting a business today is cheaper and easier than ever before. When I launched my business in 2013, I spent over $1,000 on the Adobe Suite, which was essential for creating images. Today, tools like Canva (which didn’t exist back then) allow anyone to design professional graphics quickly and affordably. With free versions of Canva, you can create stunning visuals with just a few clicks, whereas, back in the day, creating a simple image could take hours. I wholeheartedly recommend paying for the premium version, which is still very affordable – but it’s a great representation of how much cheaper and easier it is to start a business now.

With such low barriers to entry, it’s easy to see why many people are starting businesses. It makes it easier for YOU, but because it makes it easier for everyone, it can really seem that the market is saturated. And whilst that might be true, it’s not necessarily saturated with reputable businesses. With lower barriers to entry, we see a lot of pretty dodgy-looking businesses out there. Buyers have become more discerning, and they want to ensure they aren’t falling for a trap.

You’re legit – and it’s easier to see

As someone who is a legitimate service provider – like yourself – it doesn’t take much for you to stand out from the crowd. Other start-up businesses may struggle to build trust because they are creating cheap imitations, or using AI tools to write their content. This makes them look fake, and it’s quite easy to spot. When you’re a heart-centred entrepreneur who’s present, visible and genuinely cares for your audience and clients, you don’t just stand out, you shine as an example of legitimacy. Not only that, buyers are more interested in social or referral validation these days – because you can get a coaching certificate by purchasing a $20 course. The qualifications aren’t as relevant these days – instead it’s our connection. Our network.

As long as you have a clear strategy and a method to validate your business quickly, you can rise above the noise and establish your presence.

And it won’t cost you nearly as much money or time as it did for those of us who started over 10 years ago.

3. Fresh Perspective

Starting your business now gives you a fresh perspective that more established businesses might lack. With so many online business owners still clinging to outdated strategies, you have the advantage of seeing the market through new eyes.

For example, in the past, content marketing relied heavily on long-form blog posts. Back in the early 2000s to 2014, this was a powerful way to generate traffic. But in today’s world of social media and short-form video, that approach is no longer as effective. You don’t have to follow the same old strategies — you can take a more innovative approach by leveraging newer platforms and formats like Instagram Reels or TikTok.

But even Instagram has changed in the past year, and established business owners are not adjusting their strategies. In 2024, the highest-reaching posts on Instagram were carousel posts. But people who grew their following using Reels are really struggling to change their strategy. They’ve become so used to using reels for growth, they almost don’t WANT to know that their strategy needs an update.

Likewise, many established businesses avoid running ads, even as paid advertising has become an essential part of growth. They almost wear their organic growth as a badge of honour – they got to 20k followers without ever spending money on ads, so why would they start now if they want to get to 40k followers? Their reluctance to embrace newer strategies creates a huge opportunity for anyone who is late to online business.

But it’s not just how you market.

It’s also market opportunities. There are untapped niches everywhere online. Many established entrepreneurs don’t tap into them because they cannot actually see they exist. An example of this is financial literacy for people with variable incomes. The established providers in the financial literacy space have built their success focusing on people with static incomes. Their advice is difficult to translate for those who don’t have that available to them.

But to completely shift their focus to variable incomes would be hard for an established person in the market. Plus their existing audience is mostly aligned with their existing content. So it could also cause them to lose followers. Their desire to hold onto what they have, means those market gaps are available and uncontested for new players.

Those businesses that are coming at this fresh, notice what’s missing. That’s a really powerful capability that you have when you are late to the business party. You actually see where the gaps in the market are. Instead of just creating a new version of something that exists, you can identify new demand, where there is a real lack of supply. You can see market opportunities where established businesses cannot.

4. Leapfrog and Learn from our Mistakes

One thing established business owners love to do is talk about themselves. They share their mistakes, the journey of starting their business, and the things they would do differently. They are on podcast interviews, they speak at conferences, and they share openly in their own content. That is SUCH an advantage for anyone starting today.

Learn from the mistakes of established businesses, and you can leapfrog them really fast! When I first started my business I really struggled with list growth and consistent content creation and distribution. I can see the difference it has made for my business trajectory, compared to others who started around the same time as me or after me, and got that part right. So I bang on about list growth and content consistency until I’m blue in the face! I don’t want others to make the same mistakes as me.

Many of my clients have leapfrogged me.

And I love that.

I want that for everyone who listens to the podcast, actually. Tap into the mistakes, lessons and insights from those who’ve paved the way before you, and leapfrog them.

Not only that, established business owners have paved the way in reducing buyer resistance as well – it used to be a tricky thing to ask for money on the internet. People were dubious about putting their credit card details into a checkout. I had customers in my first year of business ask if they could post me a cheque instead. Paypal buyer protection didn’t exist when I started my business.

Whilst you might think being late to the party is a bad thing, it really isn’t. It means there is so much extra insight for you to access, and some of the biggest challenges of getting off the ground have been taken care of for you.

There’s so much benefit to starting later…

While the business world may feel oversaturated, the reality is that there are more opportunities than ever. The barriers to entry are lower, the tools available are more powerful, and you have the freedom to adapt and grow quickly. Even if you feel like you’re starting late, these four benefits show that being late to the business party can actually give you a competitive advantage. So, don’t let the fear of competition hold you back. If you have a clear strategy, the right tools, and a willingness to innovate, there’s never been a better time to start your business.

Let’s Fast-Track Your Business!

Which brings me to your #Tashmas gift for Day 3!

I have recorded a brand new version of my “Fast Track Your Business” training.

I first recorded Fast Track Your Business back in 2016, and I update it every year or so. This NEW version is specific to the current market, and helps you to map a clear strategy for your business so you build a business that’s profitable and sustainable as quickly as possible.

Grab it here: tashcorbin.com/fasttrack

AND DON’T FORGET – there are DAILY podcast episodes for the 12 days of #Tashmas! See you tomorrow for another practical episode, and another special gift.

Thank you so much for joining me for this episode of the podcast!

Until next time, I cannot WAIT to see you SHINE.