Who are your competitors
When you start your business, you will always have competitors. Maybe you can not see them, but they will be there.
You are practically never alone in the market you want to operate in. There will always be one or more companies providing a similar service or product meeting the same demand as yours.
Know your competitors
Know your competitors – even better than they do themselves.
First,
identify them, then, seek as much information on them as possible.
- How many are they?
- How widespread are they - geographically?
- What are the other companies’ staffing level?
- What services do they offer?
- What is their price level?
- How is their quality?
- What are their weaknesses, if any?
- What is their image among their customers?
If there are too many competitors for you to know them individually you must determine the total number of competitors and try to pinpoint the ones presenting the biggest threat to your own existence.
 Find information
You can get such information in many ways. E.g.:
- You can call a rival and request brochures
- Find them on the internet
- Visit the shop
- Seek information on the library
- Buy their product
- Interview persons who have bought rival products
- ....
Cooperation
Often, it can be worthwhile considering your competitors as your colleagues or collaborators. If the market for your service is sufficiently wide or has the potential of expansion all parties would benefit from cooperation.
If you get an order too big for you to handle on your own two
competitors/colleagues may come in handy help fulfilling the requirement.
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Creativity demands deep insight of the specific problem.
- Søren Hougaard, fra bogen Iværksætterheld
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