Understanding Your Competition

Your competitors can offer lessons in carving out more market share; this tutorial demonstrates what you can learn. Steve Mariotti, founder of Network For Teaching Entrepreneurship, recommends identifying your competitor’s weaknesses and using them to create a niche for your business. Honest Tea’s Seth Goldman discusses the importance of innovating more quickly than larger competitors and differentiating your product from its competition. Mike Sheldrake, owner of Polly’s Gourmet Coffee, recommends applying your competitors’ best ideas to your business while Pet Camp co-owner Virginia Donohue recommends consulting your local Chamber of Commerce for advice and identifying attributes that could give your business a competitive edge.