Competitors can come in all shapes and sizes. Large opportunities you pursue may attract a variety of competitors and a larger number of them than you are used to seeing. Some ways you can think about different kinds of competitors:
- Companies like yours in terms of…
- Geographic coverage
- Depth of resources
- Experience with solutions
- Companies that have some of your capabilities…
- Do they focus on specific cities?
- Are their resources specialized in certain areas (deeper than yours?)
- Do they have more experience in areas of specialization?
- Indirect competitors
- Subcontractor to some of the above competitors
- Subcontractor to some of the above competitors
- Doing nothing
- Customers considering continuing with their current approach can be a huge challenge…do NOT underestimate this “competitor”.
- Great qualifying question…What happens if nothing changes?
Better understanding your competition can inform your strategy and minimize surprises!
Feel free to contact me directly for ideas and/or help on this or other topics!
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