When many of us think competitors, we think direct competitors.
Businesses that offer a similar product or service.
But what about indirect competitors? Those businesses whose product or service isn't similar but satisfies the same need as yours.
Or businesses competing for the same share of money in your customer's wallet.
Understanding your target ideal client and what motivates them to buy your product and services will help you determine your indirect as well as your direct competitors.
Going through the process of learning who your full competition is - direct and indirect - makes it far easier to determine how to position your product or service so that you can stand out.
This is because you will have thought more laterally than others.
To find out more about why you should take the time to really understand your competition and for some tips on how to go about it check out my blog ‘Better Than All The Rest’
Want to have a go yourself but want some expert advice and guidance? Join the Secret To Standing Out