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Anonymous
Hey I am on Medialย โขย 1y
3. Analyze Your Competition To be successful, you can't afford to ignore your competitors. Take the time to study and learn from them. Larger companies devote significant resources to obtaining this sort of competitive intelligence. How you go about analyzing the competition can depend on the nature of your business. If you're a restaurant or store owner, you may simply be able to dine or shop at a competitor's place of business, ask customers what they like or don't like about it, and gain information that way. If you're in a field with more limited access to your competitors' inner workings, such as manufacturing, try to keep up with the news in relevant trade publications, speak with any customers you share in common, and obtain and scrutinize whatever financial information a competitor makes publicly available.
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