Ready to smash the competition? In this episode we discuss exactly how to do that. In the first segment,[2:13] we consider ways how competition is an asset. In order to prove this point we discuss how competition forces you not to be complacent. Also when you have competition, it provides you with the opportunity to be the market leader. Lastly, we discuss an example of an entrepreneur who could benefit from more competition. In the second segment,[15:32] we discuss SWOT analysis. We discuss what questions you should ask for in each quadrant of the analysis and which are internal and external.
After the break, we discuss how to gain intel on your competition in the third segment[38:16]. We share some best practices for keeping up with your with your competition and what they are regularly doing. We discuss how going to conferences and trade shows are great ways to gather intel on your competition. Lastly, we discuss how you can separate yourself from the competition[46:54]. One of the things we discuss is staying lean as a company. We wrap the episode explaining why you should go after large clients and knowing your numbers.
Tools mentioned in this episode:
Know Your Numbers:
Cash Flow Statement(not mentioned in episode)
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