This exercise is very important.
It will allow you to find those key elements
of your project that make it different from others.
Will make it stand out in the market.
So from both an investor perspective and an identity perspective it matters.
But finally don't neglect the power of having a product that really stands out,
that is special.
So let's look at this question of differentiation in competitive
positioning.
I think there's some basic kind of things we want to know.
One is, what is the market in which my organization or enterprise operates?
What is the sphere in which I am going to operate and claim my place?
Second, what are the common products customers and geographies or
locations that my organization's going to share with other organizations?
Where's it fit in across those three dimensions?
Finally, the big question is what really differentiates and
sets my organization apart?
If you can answer those three questions,
you're getting closer to understanding your competitive position.
And being able to communicate it clearly.
We are going to work on getting to the point where you really have a good grip
on your competitive stands and position in the market.
Think about two different phases of competitive analysis.
At the start-up when you're just had an idea and
just rolling out your first products or services.
Understanding the competition matters, because it's going to give you that
initial orientation about what to do, where to aim, how to proceed.
So, the start-up stage, it gives the social entrepreneur
an opportunity to signal to others what is that's going to happen.
Where this organization or enterprise fits in the environment.
And it's a kind of great kind of starting point for
an entrepreneur to be able say, this is where I fit.
This is where my vision going forward is going to leave me.
But for an ongoing social enterprise, one that's been around.
One that finds its place in an existing market.
Competitive Analysis is very useful,
because the world in which enterprises operate constantly changes.
New entrance come in.
The policy or economic environment may shift.
There are changes that constantly happen,
so Competitive Analysis is something that is very valuable once you've gone into
the process of being a social entrepreneur running an enterprise.
It's a valuable thing to kind of check back and
see hows the world change from when I entered to where it is right now.
It gives you this opportunity to say how has the landscape changed and
how has my position in that landscape evolved.
Think about,
to start with, as you kind of get this idea of competitive position and going.
Think about three levels.
Think about the general market, which is every type of organization serving
the same product, same consumer, same location or geography.
That will give you a large number of organizations very broadly construed
as the general market.
50 organizations, something like that.
20, 30, 50 whatever, it's a large number.
But that's not going to be where we stop.
We're going to drove down one level further,
which are those direct competitors.
It's going to be three, five,
10 organizations at most who are going to be very close to what you want to do.
But that are going to have some important differences that you can highlight and
that can make the case for your place in the marketplace.
So think about it as kind of a funnel.
With a large number of organizations at the top, a smaller number,
their very close to where you are.
And then of course you in this mix.