S7 E9 How to outcompete the competition – Understand your competitor’s Strengths and Weaknesses with Jeremy Gray artwork
Practical Solutions to Difficult Problems with Jeremy Gray

S7 E9 How to outcompete the competition – Understand your competitor’s Strengths and Weaknesses with Jeremy Gray

  • S7E9
  • 12:59
  • October 20th 2021

Understand your competitor’s Strengths and Weaknesses ​ Identify your competition Conduct internet searches. Exercise care in your search terms. Search your product, your industry. Use how to searches – A legal firm may search how to find a good lawyer. A ceramic adhesive manufacturer may search how to fix a broken plate Trade Associations are another great source of information Classify into Direct and Indirect competitors. Direct competitors are businesses that offer products or similar services to yours. Indirect provide different products that may meet your potential customer’s needs. Focus on Direct Customers Conduct an analysis of your competitors Strengths and Weaknesses. Strengths could include their market reputation, their employee’s skills, their physical assets etc. Weaknesses might include poor location, inefficient distribution. Less than optimum technology. Rank the competition’s strengths and weaknesses versus what you envision for your company. Be realistic in your assessment.

Tags: How to start a business; Achieve start up success; How to assess your competition; The successful entrepreneur; business common mistakes; small business startup; avoid these common mistakes of business; mistakes in business; IBGR.network; Jeremy Gray; Practical Solutions to Difficult Problems

Practical Solutions to Difficult Problems with Jeremy Gray

After over 30 years in the MNC corporate world at the C-suite or General Manager level I am now focused on helping Entrepreneurs and SME's succeed. Using the lessons learned from working in Europe, North America and Asia while as an MNC executive along with 7 years supporting smaller businesses I bring this knowledge to my listeners. The topics will change but the message will remain the same, how to profitably grow your business.

Download the IBGR Business Growth Radio App for Android and iOS to catch the show live and gain access to even more resources. Find the IBGR Business Growth Radio App on Google Play and in the Apple App Store.