Ten Questions to Ask When Writing a Business Plan Competitive Analysis

The key to your competitive analysis is to differentiate yourself from your competition with a strength, or several strengths, that will attract customers. An unfortunate reality may be that there is too much competition from well-established, respected businesses for you to find or carve your own niche. It's better that you determine this while doing your competitive analysis than after spending a great deal of time and money on a business that cannot gain a competitive share of the market.