DIGITAL STARTUP SOCIETY BLOG — 30 Days to Leveraging Your Competition to Grow Your Online Business Fast

In today’s marketplace, competitors need to collaborate on different projects, whether charity fundraising, creating awareness in the audience, or educating customers. Collaborating with your competition is a win-win for you, the industry, and the customers.    Get More Exposure – When you work with a competitor, you’ll automatically be introduced to their audience as someone who is trusted and valued. Likewise, you’ll do the same for them. This may seem a scary proposition, but if done right, you’ll all get more exposure, and the customer ends up with more choices that are good for everyone, especially customer satisfaction, which is...

One of the most exciting aspects of studying your competition is that you can prove your concept before spending money or time investing in starting the business. This one thing alone makes all the competitor research worthwhile. After all, you have limited time, limited resources, and you’re just one person – you might as well prove the idea is doable before taking the plunge.    To get started, you’ll want to: Identify Your Top 3 Competitors – Figure out the top three people or businesses you’ll be competing with as you start and run your business. An excellent way to...

When you develop a business idea in your mind, the first thing you need to do is look up your idea online to find out who your competitors are. When you study your competition, you can eliminate a lot of the risk that goes into starting a business by evaluating whether your idea is profitable, finding out who the customers are, and even locate people you can team up with to reach even more people.    Let’s explore all the things you can learn by studying your competition.  Understand Your Market – Aside from understanding your ideal customer, you need...

Many online business owners mistakenly think they can skip steps when they are building a business. The main reason is mindset. If you view your business as a gap measure instead of a viable business, you may not spend the time necessary to research your idea, which includes thorough research into your competition before starting, believing you’re not going to make much money anyway. Why bother with all that?  The truth is an online business is a very viable way to run a business. You may earn pocket money for the weekend, or you may make millions. It’s all in...