Your business should not shy away from having numerous competitors, despite what is commonly believed. Competition is actually beneficial as it indicates a profitable market. Instead of avoiding it, you should embrace your competitors.
By understanding and categorizing your rivals, you can effectively communicate the distinct value of your company. This will also assure investors that your products or services meet an established demand that others acknowledge as an opportunity.
Throughout this course, we will thoroughly explore the concept of competition, providing strategies to identify and assess competitors, and classify them to identify areas where you can fill market gaps.
Discovering and Monitoring Your Competition
Unfortunately, many entrepreneurs overlook the identification of their indirect competitors. However, I will ensure that you understand how to recognize these crucial competitors.
Remember, you are not only competing with your direct competitors. I will teach you about the significant concept of wallet share and how to leverage it to your advantage.
The competitive binder is an invaluable tool to stay updated on every move made by your competitors. I will guide you through a sample competitive binder.
If you believe you have no perfect competition, I will demonstrate that you indeed do. I will show you how to uncover your competitors.
Feeling overwhelmed by the amount of competition? Let me help you solve that problem.
I will provide a detailed walkthrough of a compelling case study that illustrates the step-by-step process of defining and segmenting your official competition.
Now it's time to put your thoughts into action. Explore the Prep Worksheet that equips you to define and segment your competition for your business plan. The key to success lies in thoroughly understanding your business and being prepared to manage it. Utilize this workshop and Prep Worksheet to achieve just that.
I suggest downloading this convenient course guide to support your journey through the course. It also serves as an excellent reference material for future use.
Who this course is for
- Start-Up Founders
- C-Suite Executives
- I'm not graduate from economic bachelor and English is not my mother tongue. But this course and how Mr. Ken explained the content is really easy to understand for beginner like me. Thanks to Mr. Ken for answered all of my question with a fast and easy understandable answer! ~ Diantini S
- Perfect timing and the insights till now are those that I was exactly looking for.... Excited to learn more ~ Yogen P
- Such an amazing course. You'll be able to understand and create your own business plan and you'll get a lot of valuable advices ~ A Cerimagic
- Lot’s of info in this course. Ken really takes you from A to Z . Just what I needed for my business to take off. Thanks ~ Hugo M
- I'm new to the business world and have been looking for courses with practical guidance. This course definitely provides that and so much more ~ S Slawinski
- So far so good! A lot of challenges I'm facing in my work place Ken has highlighted the root course, which I was not expecting. He is clear, very engaging and breaks down the jargon. He is straight talking, right down to business attitude. I've just completed the first chapter and he's restoring a little faith in me so quite excited to keep learning (I know, I sound like a nerd) ~ Harrie T
- This course is the right match for me as I know some about business but believe in always improving. I also want to make sure I have a solid foundation for my business so I'm positioned right for the new year, and growth ~ E Jollymore
What you'll learn
- Why do I need competitors?
- Which companies are my competitors?
- What if I can’t find any competitors — or what if my company has too many?
- Which categories do my competitors claim?
- How can I identify opportunities within those segments?