Competitive Edge for Entrepreneurs ~ Scott Andrew Alpaugh
As an entrepreneur, it’s essential to stay ahead of the competition. One way to do this is by conducting a competitive analysis. A competitive analysis allows you to understand the strengths and weaknesses of your competitors, identify opportunities for growth, and make informed decisions about how to position your business in the market. Here are some tips for conducting a competitive analysis in 2023: 1. Identify your competitors: The first step in conducting a competitive analysis is to identify who your competitors are. This includes both direct and indirect competitors. Direct competitors are businesses that offer similar products or services to yours, while indirect competitors are businesses that offer different products or services that could be used as an alternative to yours. 2. Analyze their strengths and weaknesses: Once you have identified your competitors, analyze their strengths and weaknesses. This includes lo...