Business Models 101: Competition
In this part we will discuss your Competition and how important it is to know your competitor but without focusing on them too much.
I have to repeat it on every page but starting something on your own, creating value for you, your family and the world is a totally recommendable thing to do. You want to create your company. This is GREAT. The world has been made by people like you. Entrepreneurs. Self-Made Men, Creators, Builders people that believed an obstacle is just another great challenge to overcome, to solve and put behind them as an achievement.
Here are the main questions you have to ask yourself about your competition.
- Who are our competitors?
- ow are they ranked??
- owwis the market developing (growing, stagnating, diminishing)??
- ow do we differentiate from ourr competitorsH
- owwbig, how strong are our competitors??
- How are they seen from our common customers?