People want something unique and different, so don’t compete—create your own.

In a nutshell that’s the motto CEO and business founder Jeff Pedersen lives by, and what enabled him to start, and continue running, his successful business, Cariloha.

Many of today’s current marketplaces are saturated. So if you don’t have the time and/or money to compete with well-known and well-funded brands, find a niche where you can create your own marketplace.

Pedersen recalls first starting his company in 2007 where they produced and sold island-leisure products. Unfortunately, sales were not anywhere close to what he and his executive team had projected they’d be at after opening their first three stores.…