They say there’s nothing more flattering than being copied. In business, trying to do things just like a competitor may not be the best strategy. Nothing wrong with learning from your competition. But there’s something wrong with copying your closest competitor.
In any business, there’s competition. When you’re planning your business, whether you’re just starting out or working on your tenth annual strategy, knowing the competitive landscape is incredibly important. Knowing the competition helps you understand where your pricing falls in the market, if your unique selling proposition is truly unique, and ensures your ability to answer questions about your industry.
Listen in as Michelle and JoyGenea talk about their competitive analysis processes, both when they started business and today.