Who’s Your Competition?
Working with Startups for the last 17 years, I’ve heard this many times when I ask about their competition. “I don’t have any competition. No one is doing what I’m doing.” My response is always the same. A broom will beat out a vacuum cleaner if the Customer lives in a cave with no power. Whether yours is a well-established business or a startup, ask yourself these questions: What problem am I solving and how many other solutions are there?
- Who has the “big bucks” to develop the same thing I’m working on?
- Who makes the most noise for Customers to hear?
- Who does the most damage and how do I measure against them?
- Where are the Customers going now?
- What kinds of complaints are the other solution providers getting?
What advantages do I offer and do I have any proof? Clear answers to these questions can help you win Customers. Do the things Customers want that they’re not getting from anyone else.
