A Slice of Competition

Competition is the best thing since sliced bread... it inspired some baker to make a better(sliced) product and happier customers.

The answer was in wrapping the sliced loaf so it would not go stale. This wasn't better bread... it was better packaging.

Think beyond the bread.

These digital days there are new technologies and, therefore, new opportunities everywhere. Your best competitors are testing and learning. So, know thy enemy ... but don't follow them... take the market lead by understanding your customer better than anyone... better than themselves. As you ask them what they want, consider solving their problems beyond your existing solutions. Being a "market disruptor" like Apple and Google starts with staying ahead of your customers... while also learning from your competitors.

How often do you update your Competitive Analysis? It is for more than a feature match to sell against. Remember to do one for your internal team to get to the truth of where you stand in relation to what you are striving for... and compared to others. Then you can decide what to prioritize your resources on and what features to go public with... and when.

Get at the real you... re-think the Sweet Spot your are selling. 
Check out a recent overview and video on it HERE.

Also do a SWOT Analysis - a brutally honest assessment of your:
Strengths - Unique Value Proposition
Weaknesses – and the plan to solve them
Opportunities – For company and market
Threats – For prospect’s time and budget

Download a 1-sheet HERE for you to fill out (link http://bit.ly/SWOTAnalysis)

Being objective can be difficult. Give me a call for some tricks on how to get at your true story.

Here are a few classic examples of how to display your assessment...

                                 Competitive Matrix - Example for Sandy Bay

                                   Forrester Magic Quadrant