Have you ever felt you were really, really good at something, then found yourself totally outpaced by someone who was way better? Whether we’re talking sports, school, business or who makes the best apple pie at Thanksgiving, all of us have, at one point, been left in the dust.
Realizing you aren’t competitive in a certain field can sting, but it can also be a useful learning opportunity. In fact, knowing how well competitors perform is key to your own victory. This is especially true for business where your competitor’s standing is almost as important as your own. But, how do you determine this?
You need to perform an industry analysis. Let’s get started.