Identifying your competition
Why your competitors are not who you think (eg. when people buy food because they pity the owners/want the status)
Competitors usually lie in the same industry… because vastly different products can’t
give the same emotional treat.
Dragon’s Den appeal = as time pass during lunch/breakfast
Is NO COMPETITORS/COMPETITION good or bad?
No competitors yet, so opportunity OR no competition because other people have tried and failed (maybe the timing wasn’t right for them) or something you don’t see that they saw that they decided not to even try (inherent flaw in the plan)
But did they do EXACTLY what you’re planning to do? Can you draw conclusions from them?
Competitor obsession (or awareness) is a part of customer obsession because your customers perceptions of your business changes with the actions of other parties like government, activist groups, terrorists, religious figures, competitors and even business who are not in competition with you.