Need to catch up? Go to Day 1.
To do a proper analysis I provided an easy walk thru – Competitive Analysis PDF This document will allow you to type directly into PDF! Save it, print it, or distribute it to colleagues. Below is an example of what you’ll be doing.
List the Competition – Make a list of agents or firms that directly compete with your business. If you’re an industrial agent, write down competing industrial agents. If you have a CRE firm, write down other firms that directly compete with your business.
Competition Analysis with 3 Biggest Competitors – Usually there are only a few actual competitors to your business. Leave out agents / firms that are lesser than you, instead only focus on the three main competitors that you perceive as threats to your bottom line. Use a scale of 1 to 10 (10 being best) and rank each factor. The PDF will calculate your totals for you.
Questions to Ask Yourself – There are 13 questions that will give you a clear idea of your strengths, weaknesses, opportunities, and threats. Answering these honestly will be a great insight to how you run your business.
Final Analysis – After you’ve taken some time to critically think about your business, answer four final questions. These answers will show your biggest strength, your greatest weakness, an opportunity that will allow you to gain more clients, and the main threat that potentially takes clients away.
When you’re finished, move on to Day #3!
Download the Competitive Analysis PDF