How do you stack up against the competition, both direct competitors and indirect competitors? Whether you’re planning to start a business, are in the first months or years of running a business, or have been in business for decades, it’s important to know how you compare to your competitors.
This free worksheet is designed to help you perform a simple competitor assessment. You choose 3 competitors and 5 categories (such as pricing, customer service, reputation, experience, etc.), and then give your business and your competitors’ businesses scores of 0-10, with 10 being the highest.
Who are your strongest competitors? What are they doing better than you, where are they falling short? Which types of marketing do they use to reach new clients and customers? Have you differentiated yourself from your primary competitors? What could you improve in your business that would make you stand apart? Is it time for a price increase? Do you need to offer more products or services, or package them differently?
If you don’t have clear answers to any or all of the questions above, consider hiring a marketing coach with small business experience to help you perform your competitor research.
If you’d like to discuss your competitors, schedule your free consultation with one of our small business coaches, or e-mail firstname.lastname@example.org.
Please note: We proudly provide coaching and consulting services for small business owners in Denver, Colorado, and the U.S.