You have an idea for a business: how should you identify competitors?

In the previous post, we analyzed suppliers. Now it’s time to look at competitors, those who are already in the sector and those who may yet to emerge. Why should you also look for the latter, who are not actually in the sector yet? Sometimes their appearance suddenly changes the conduct of business in the entire sector. An example of this is Apple, which in 2007 began selling a strange phone – a smartphone – that turned out to be

Continue reading