Competition Archives

22 Competitive Analysis Questions to Beat Your Competitors

Business Intelligence, Business Planning, Market Research / By Dragan Sutevski, PhD

22 Questions You Need to Answer For Your Competitors

Each entrepreneur wants his business to be alone in the market without competition. But, it is an unrealistic and probably unachievable situation, at least for a more extended period, to operate without competitors.

You cannot avoid competition, regardless of the size of the business or industry and the market in which it operates. Even if there is no competition currently, it doesn’t mean it will last forever and will not appear shortly.

You should not be afraid of competition. But, you must implement a strategic and systematic approach to analyzing your competition. After analysis, you will need to use that knowledge in your daily business operations and management of your own business.

If you ignore your competition, you will have real problems manifested through declining market share, lower total sales volume, a decline in the number of customers, and the most significant problems as cash-flow problems. These problems will destroy your business. The fact is that you can not allow yourself to ignore such possible problems.

Because of that, here are the important questions to ask about competitors. Using these questions, you can easily conduct a comprehensive competitive analysis that can be part of your market research and make informed decisions for your small business.

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Your Ultimate Guide to Do Competitive Research

Marketing / By Dragan Sutevski, PhD

Your Ultimate Guide to Do Great Competitive Research

As an entrepreneur, you can’t simply say screw the competitor because such thinking could harm your company in the long term. You can’t simply say screw the customers because your business existence depends on that customer. You need a high level of competitive research to succeed as an entrepreneur.

To beat the competition and achieve a high level of competitive advantage, and be close to your customers, you need to be smarter than your competitors. You need to have enough knowledge about your competition but also of your buyers if you want to be able to make the right decisions for your business.

Many entrepreneurs talk about competitive research in very different ways. This is because competitive research is a broad term and might end up in many various directions, various knowledge, and multiple processes. However, we must clearly understand that it is only one bit of the bigger picture where your business operates.

As an entrepreneur, you will need to be aware that you don’t have to invest a large amount of money on fancy competitive research tools from the beginning. It is more important to know that this research needs to be done by you, and only you, in most cases, because competitive research is about performing the groundwork. It’s about going out of the building.

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13 Steps to Beat Your Competition

Marketing / By Dragan Sutevski, PhD

Whether you’re a large or small business, one of your biggest challenges is beating your competition. This article looks at the top 13 ways to get there.

How can you beat your competition? This is an essential and always actual question you will ask yourself as an entrepreneur. This question sounds like asked with too much military voice. Beating is something that military personnel use. However, this is the most frequently asked question from entrepreneurs.

The first step in beating your competition is to plan ahead. When you know what you need to achieve in the coming months, you can ensure that you have a solid strategy that can make or break your company. This will prevent you from reacting to your competitor’s moves instead of planning ahead and using your resources to your advantage.

If you beat your competition, you will have more market shares. If you have more market share, you will have more customers. More customers will bring you higher sales and profit.

Here, I want to share 13 steps to help you win a battle, but not a war, because this war is a never-ending process in the business world.

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How to Be One Step Ahead of Your Competition?

Marketing / By Dragan Sutevski, PhD

Every entrepreneur wants their company to be one step ahead of the competition. This goal will improve the overall market position of the company and will bring constant business growth.

As a part of 15 small business marketing advice, one of those pieces of advice for entrepreneurs was to be one step closer to their customers and one step ahead of their competition. Here are some of the most critical elements that can help you be one step ahead of the competition.

This is simply combining the knowledge for most crucial business elements as competition, customers, and products and services that will always make your company ahead of the competition. After collecting real knowledge for these three critical elements, your job as an entrepreneur is to improve all your business processes according to that knowledge.

The way to outsmart your competitors is by being one step ahead of them. Here’s how to do it.

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5 Things You Can do When Competitors Attack You

Entrepreneur / By Dragan Sutevski, PhD

Competitors are on the market because your customers want to have possibilities to choose. They are not because of you. They are there because of your current and potential customers. But, what you can do when competitors attack you?

Yes, your customers want to choose, they want more than one option because they know that if there are competitors and they need to choose between more options they will receive better value for them.

In such a way, on a market there is you, your small business, your products and services and your competitors, their business and their products and services. You want to take as much as possible market share, and your competitors want and really hard work to take as much as possible from the market share. This is the battle that will never stop, and you need to be aware that competitors will always look to find different ways to attack you as an entrepreneur, your small business as their competitor and your products and services as their competitor’s products and services.

Now, what you need to do when competitors attack you with all their powerful weapons?

Let’s look at some of the tactics that will make you more prepared to handle such battles when your competitors attack you.

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