It’s common for entrepreneurs to receive the advice that their business needs to stay one step ahead of the competition or else they will be swallowed by the big sharks.
But as a business, how can you stay ahead in the game – especially when sharks are plenty and they’re hungrier than ever?
Competition in the business world is inevitable. On one hand, it drives entrepreneurs to produce the best products that the market has ever seen. On the other hand, it’s the reason why a majority of businesses never make it to their second year. Carlos Slim once said: “Competition makes you better, always, always makes you better, even if the competitor wins.”
With around 550,000 businesses that start every month, your competitor list will continue to expand. But should that stop your business from becoming its best self?
Of course not. Whether you’re new to your market, or a veteran with plenty of industry experience, this blog shares a step-by-step guide for competitor analysis…