Learning Stream Playlist

Defining and Segmenting Competition Explained

Ken Burke 5 min
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You want competition. Why? Having competition not only validates the market you're in but is an indicator of an established market—which is a risk-reducer from an investor's point of view. Embrace your competition. This overview covers the importance of evaluating the strengths, weaknesses and position of your competitors.
Defining and Segmenting Your Competition in Depth

Ken Burke 24 min
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Most entrepreneurs think only about direct competitors. But what about the alternatives customers have to fulfill the need your product or service addresses? Here's an opportunity to explore in-depth who your indirect competitors are—from alternatives to your product or service to various "free" options your customers have. This video also includes a competitive segmenting exercise, how to build a competitive binder, as well as a discussion of Wallet Share.
Define and Segment Your Competition Workshop

Ken Burke 5 min
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Time to put pen to paper—or fingers to keyboard. Take a look inside the Prep Worksheet that prepares you to define and segment your competition for your business plan. The key to success is taking the time necessary to deeply understand your business and be prepared to run it—use this workshop and Prep Worksheet to do just that.

Contrary to popular belief, your business should have plenty of competitors. Thriving competition shows you’ve pinpointed a viable market. Defining and segmenting your competitiors helps you better articulate your company’s unique value, while reassuring investors that your offerings will fill an existing need others recognize as an opportunity. In this learning stream, we’ll delve deep into the competition, with strategies for identifying and evaluating competitors and classifying them to discern where opportunities lie to fill gaps in the market.

You will learn: