Don't be discouraged - starting is half the battle. I ran into this just this week when I was debating starting my blog. If I'd sat around thinking of the competition (say, shoemoney.com) then I'd never get anywhere. But by seeing the competition, you can get ideas and figure out how to differentiate yourself. While my blog is still a work in progress (read: major updates and content still to be fleshed out in the next week or so), I've already come up with some ideas of how to branch out and find my niche.
I say go for it - at best you'll find success, at worst you'll develop your art and marketing skills some to gear up for a second serious run.
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