Start-Ups

Analyze Your Competition

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Executive Summary

There are businesses out there trying to do what one does, only better. Conduct a competitive analysis in the market so one know where the business stands and can rise above the competition. Competition is what inspires some businesses to strive for greatness and causes others to falter. "The term competition sometimes scares people; it puts them in an adversarial, negative mindset," says the author. "But it shouldn't be that way. It should put one in a positive mindset." Deciding who the competitors are, what they offer and what their niches are will help one to better position the business, experts say.

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