What You Need To Know About Competitive Analysis For Your Business Plan
As you draft your business plan, you'll quickly learn that learning as much as possible about the competition is a crucial element to your growth strategy. Whether it's marketing, pricing, business organization, or even just the launch, understanding who and where your competitors are will help you develop your blueprint for success. The competitive analysis section of the business plan is where you'll be reporting all the data and compiling research. This information will help potential investors understand why your business will succeed, and will also show any reader of your plan how well you can strategize.