Identify Your Adversaries
The Blueprint > Find the Next Big Thing > Identify Your Adversaries
We’re excited to have you here!
Before we continue, tell us more about yourself.
Competitive Analysis helps you identify your position and potential growth in the space. It gives you a full view of the competitive landscape and an early indication of how your business will fair.
If your space has a lot of competing businesses, it’s a sign of a well-established market, and demand exists. However, it can also mean the space is saturated and you will need to differentiate what you offer to build market share. On the other hand, a space with very little competition gives you the upper hand in the market. However, it can also mean that demand is still low and you will need to ramp up the numbers for your business to grow.
Know your playing field
- Who currently offers the product/service?
- Who are the top competitors, and what are their advantages?
- Where are most competitors located? Will location matter?
- How much are they offering the product/service?
- Are there indirect alternatives to the product or service?
Competitive Analysis Matrix
Try this competitive analysis matrix to help you visualize
who you’re up against and how you will compete in the market space.
