Sopela Business Market

Top Menu

  • Home
  • Mail us

Main Menu

  • Home
  • Advertising
  • Business
  • Corporate
  • Entrepreneurs
  • Industry
  • Marketing
  • Media
Sign in / Join

Login

Welcome! Login in to your account
Lost your password?

Lost Password

Back to login

logo

Sopela Business Market

  • Home
  • Advertising
  • Business
  • Corporate
  • Entrepreneurs
  • Industry
  • Marketing
  • Media
  • How to be a Hospitality Industry Training Teacher

  • We Have To Bring Industry To The U . s . States

  • Envisioning the way forward for the Mining Industry

  • Technological Advancements within the Automobile Industry of america

  • Ruggedized Computers for Multiple Industry Needs

Business
Home›Business›Do You Have a Plan for your Business Competitors?

Do You Have a Plan for your Business Competitors?

By Flavio Otis
January 16, 2023
47
0
Share:

Making plans for your business is an important part of maximising your chances of success. You need to think about what you want to achieve and how you want to achieve it, try and anticipate the risks and setbacks you might face and think about how you can minimise the damage they can do to your business. More complicated kinds of planning take in the brand you’re building – will your projects support it and expand it or undermine it and make it less coherent?

Without plans like this success is a difficult thing to find. One aspect of your planning you need to include is your competitors – who are they and what are they doing? If you don’t know then you risk big, expensive surprises.

It can be worth looking into professional business strategy consulting to help you make the best plans for your future success, but let’s start here with the competition.

Who Are They?

The first thing you need to do is identify who your competitors are. This isn’t as exhaustive as it sounds – you don’t need to know every single business operating in your industry, just the ones you’re in direct competition with. That could be other businesses local to you, as well as the online competition that your customers are tempted by. For example, if you’re running a bricks and mortar retail business in a small town, then your significant competition could be other shops in neighbouring towns, specialist online retailers in your industry and of course the behemoth that is Amazon.

If you have the resources it can be helpful to get some help with this aspect of the problem. Competitor Intelligence agencies can help with this prioritisation, finding the businesses that are directly competing with you for the same audience and ranking them against each other (and yourself!) so you know who you need to be most worried about.

Who are You?

The best way to insulate your plans from competitive threats is to identify and emphasise the unique features that distinguish you from your competitors, but to do that you need to know what your customers see in you! Spending money on products, branding and marketing that leans heavily on your green credentials, for example, isn’t a good use of resources if that’s not an important factor for your customers.

Market research can tell you where you already stand out from the competition and allow you to emphasise those qualities further as you build your business and ensure you’re offering a clear beacon to your customers.

Previous Article

Cirque du Soleil & You: How to ...

Next Article

Make the Most Out of the PM ...

Share:

Related articles More from author

  • Business

    What Makes for Meaningful Marketing? TUSHY Creator Miki Agrawal Speaks Out

    September 11, 2021
    By Flavio Otis
  • Business

    Working With Corporate Law Firms: An Overview For Businesses

    October 12, 2020
    By Flavio Otis
  • Business

    Cirque du Soleil & You: How to Spend an Unforgettable Night in Las Vegas

    January 5, 2023
    By Flavio Otis
  • Business

    Business Review: Opening A Liquor Store In Florida

    August 4, 2020
    By Flavio Otis
  • Business

    Business Management Methods

    July 7, 2020
    By Flavio Otis
  • Business

    How to Reduce the FOMO effect at trading

    June 15, 2021
    By Flavio Otis

Comments are closed.

  • Business

    What Businesses Should Know to Maximize ROI With a Virtual Data Room

  • Advertising

    Creative Business Advertising for that Grand Opening

  • Business

    Online Advertising Mistakes to Avoid

  • Recent

  • Popular

  • Comments

  • Make the Most Out of the PM Kisan Samman Nidhi Yojana

    By Flavio Otis
    January 21, 2023
  • Do You Have a Plan for your Business Competitors?

    By Flavio Otis
    January 16, 2023
  • Cirque du Soleil & You: How to Spend an Unforgettable Night in Las Vegas

    By Flavio Otis
    January 5, 2023
  • Finding Out More About Disposable Vape Pens

    By Flavio Otis
    December 29, 2022
  • The Metrics You Should Be Using To Measure Law Firm Profitability

    By Flavio Otis
    December 23, 2022
  • Make the Most Out of the PM Kisan Samman Nidhi Yojana

    By Flavio Otis
    January 21, 2023
  • 5 Affordable Marketing Tactics That Actually Work With Smaller sized Budgets

    By Flavio Otis
    October 16, 2019
  • Marketing for Professionals

    By Flavio Otis
    October 16, 2019
  • What Drives Entrepreneurs to produce Something From Nothing?

    By Flavio Otis
    October 20, 2019
  • The advantages of Learning What Effective Entrepreneurs Do

    By Flavio Otis
    October 21, 2019

Recent Posts

  • Make the Most Out of the PM Kisan Samman Nidhi Yojana
  • Do You Have a Plan for your Business Competitors?
  • Cirque du Soleil & You: How to Spend an Unforgettable Night in Las Vegas
  • Finding Out More About Disposable Vape Pens
  • The Metrics You Should Be Using To Measure Law Firm Profitability
  • The Ultimate Guide to Coworking Spaces for Remote Working and Entrepreneurs
  • Good Insulation Is a Must for Every Home or Office
  • What Andrea Riposati From Dante Labs Has to Say About Startups
  • 3 Tips for the Best Use of Your Contract Lifecycle Management Software

Archives

  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • May 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • Mail us
Copyright 2020 Sopela Business Market - All rights reserved.