A competitor analysis compares your company to another. Show your company's strengths by comparing it with another in the same industry. Let customers read your comparisons and decide for themselves why your company is the better one. Read these tips to write a competitor analysis.
Instructions
1. List the competitors. Name the companies that you are competing with. Explain what they do, where they do it and how they do it. You must list their good points to be credible. Then list your own points of comparison followed by why your company does it better.
2. Explain your specialty. Tell customers and investors what you do, especially what you can do that others can't do. You want to show your market niche.
3. Clarify who you are in the market and why you should be the one to capture this market niche.
4. Prove there is a market for your service or product. Make sure you show how large your target market is using numbers and charts. Research your market and present your proof. Show why your business reaches a segment others have missed.
5. List your strengths and your achievements. List any special awards your company has achieved. Then list your weaknesses and explain how you will overcome these weaknesses.
6. Describe your company in detail including your business plan. Tell your history, your present situation and your plan for the future. Outline all key players and what they do in your company.
7. Provide statistics to back up all your claims. Be clear, confident and honest. You aren't trying to hide your competition. You want to face it head on and then show why you are better.
8. Remember your goal is to show why your business will succeed over others in the market. Stay focused on your goal and then write a convincing competitor analysis proving your point.
