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How Do I Build A Winning Business Plan Part 2 By Neil Best
Competitor Analysis - Keep it Real
Failure to identify competitors in your business plan is a warning sign to potential investors that either:- you've not done enough research; you haven't acknowledged the competition you face; or that actually the market is not large enough to support any competition. You're not going to find anyone to invest in your business if the latter is true.
It is much better if you acknowledge realistic strengths and weaknesses of your closest competitors, and how you will address those with your business model. It also acts as evidence to the potential investor - as mentioned above - that the market is large enough to support a number of businesses. A... [ Read Article ]
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