Armand’s 50 Things: Thing 12
Make a List of What My Competitors Don’t Have
When researching competitors, don’t just focus on what they are doing; you also want to be aware of what they are not doing. What are they missing?
Most of the time, you can easily spot exactly what your competitors don’t have. It’s obvious to you, but they just don’t see it. Where are they lacking and how can you make up for what they’re missing?
There are two sure fire ways to dominate a market. One is to be better and the other is to be different.
Knowing what your competitors are missing will allow you to be both better and different, guaranteeing your success in that marketplace.