Competitor analysis template and strategy for start up businesses
This article sets out a useful way of conducting competitor analysis before you launch your business, to work out how to best position a brand and product.
When to do competitor analysis
How to do competitor analysis
We've put together a free competitive analysis template to help business owners with this process.
Step 1: Listing competitors
Step 2: Classify competition based on points of differentiation
Step 3: Turn your research into a diagram that can be used in a slide deck
Competitor analysis based on two key metrics:
Competitor analysis based on more than two metrics:
Slack 'Petal Diagram'
The 'Petal Diagram' is useful if you need more than 2 metrics to show the differentiating factors between you and your competition. This style of competitor analysis was first introduced by Steve Blank. You can read more about it here.
Now you know the basis for how to conducting competitor analysis before you launch your business, to work out how to best position a brand and product.
At Mum's Garage, we run programmes to support companies to develop uniquely valuable products and brands. If you think we can help you to launch and grow your company please contact us.