Start Up Planning Guide | Small Business Competitive Analysis | Questions to Help Entrepreneurs
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Small Business Competitive Analysis – Questions to Help Entrepreneurs Compete
Continuing our start-up series of questions which will, this post, focus on your company’s competition and on your own competitiveness within that industry. If you’re just reading this blog for the first time, you are joining us for the fifth installment of an eleven part series, with each segment focusing on one particular aspect of business. This segment questions are designed to help you the entrepreneur become more competitive in the marketplace by asking provocative questions.
A. Start-Up Vision, Mission, Goals & Objectives
B. Development & Structure
C. Market Analysis
D. Product & Service Offering
E. Competitive Environment
F. Strategic Planning
G. Marketing & Sales Planning
H. Organization Structure & Management
I. Operations Planning
J. Risk Analysis & Contingency Planning
K. Financial Plan
This blog will focus on one area — Competitive Environment.
Following are a series of 5 questions that will help you understand your competitive environment.
This list of questions should trigger discussion and more questions. The time you spend now could make the difference between success and failure.
Competitive Environment Questions:
1. Who are your major competitors?
2. Is the market dominated by a few major players or many players?
3. Identify the strengths and weaknesses of each competitor.
4. Characterize the nature of competition both inside and outside the industry.
5. Describe possible competitive threats and risks.
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