How to research your competition

We have talked about researching your competition in the past and how important it can be to existing businesses and new startups. Let me tell you a couple of ways to do your research. First thing to do is to figure out what you want to learn. What level of service do they provide, what is their price points, what areas do they service, and the big one. How can you kick their ass! This is ultimately what you want to do. When I ask my local clients here, that is one of the first things on their list. Either they know the guy running the shop down the street and they hate him, or they are best friends and they want to outdo each other. Either reason is ok. As long as you want to better, then you will be better.

I would start with your friends. Ask them if they have had any run ins with your competitors. Be a customer of your competitors and try them out if you can. Send in a secret shopper. Research online for reviews of your competition. Find some of their coupons and check their offers. Heck, even go through their trash if you want to get real info. These are just some ideas that you can use to take a stronger position in your market

The Master has spoken!