One of the most overlooked, forgotten, and intentionally ignored sections in a business plan is the analysis of the competition. Don’t kid yourself. You have competition. Everyone has competition. It might be direct competition; another business selling the same service or products. Say you sell house paint. There are probably several other paint dealers and [...]
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Talking to small businesses and entrepreneurs writing business plans, I find that business owners often wish that they had no competition. Businesses usually are thinking that with no competition, the entire market for their product or service will be theirs. I don’t think that is the case – especially for newstartups that have truly innovative [...]
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