Yes the markets are competitive but that’s because there is so much money out there, real estate is a trillion dollar industry
If you go hard and service the hell out of your clients, master branding, marketing and advertising you can make it
And on top of that you can actually model other successful people
Tons of sales programs on a broad level as well as a niche level (ie. can find real estate sales training on Youtube)
In a blue ocean business you can’t model success because your market doesn’t exist
You can only model approximately based on other blue ocean entrepreneurs – crossover isn’t full model though
Don’t spend your savings and time on product dev to find no demand for your products and your blue ocean was actually a mirage
You’re a VC with a lot of money, connections and previous success. VCs can choose the best startup ideas, throw money at 10 of them and have 2 big successes (obv doesn’t apply to most people reading this)
You’re already a wealthy and successful entrepreneur. This means you have the business acumen, leadership ability and cash to take a shot. You can sink 500k into a blue ocean business, pay for the marketing, build a team, and not have to rely on investors. And you have a big financial safety net as well as multiple sources of income so you can afford to take the loss, in return for a shot at massive success (still probably not the best use of your cash, seeing as how you have high profit businesses to reinvest in)
While it’s not a blue ocean strategy, I do have a client in a service business in a relatively new and growing market as an industry leader (although with competition and without creating the market). These are hard to find at the right stage, but possible. Would be difficult to give you a roadmap to duplicate though.
Within a broad competitive market you can niche down your market to reduce competition, for example you have a marketing company but you only do marketing for dental clinics, and your site/channel is dentalclinicmarketing.com. This way you’re an expert, your pitch is easier, closes for dentists is easier and your competition is smaller (but so is your pond to fish in).