EVALUATE YOUR COMPETITION
No matter how unique your idea, what patents you hold and what trade secrets you possess, sooner or later there will be a competition knocking on your door.
Your competition falls into 2 categories
* - a player who has been in the market for sometime
* - a new player who has entered into the scene and is looking to unsettle you.
Strategies:
Establish Company Size
Know the Market
Determine your competitors brand image
SWOT the rival
Use the internet
Use Technology
Source: Intelligent Entrepreneur : June 2013. Volume 4. Issue 10.
