Competitive Analysis: Mistakes to Avoid
The following are several common mistakes that can decrease the effectiveness of your competition section:
- Assuming you have no competition! (Please don't do this! Claiming you have no competition or anything remotely similar is a sign of inexperience that readers pick up on immediately.)
- Failing to identify both direct and indirect competitors.
- Underestimating the power and strength of competitors.
- Omitting the specific competitive advantages you hold over your competition.
- Demonstrating a lack of knowledge or strategy to combat changing competitive conditions.
- Failing to define and clarify your position, strength, and market niche focus.
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