What is one of the biggest red flags for an investor? Hearing an entrepreneur/startup say they don’t have competition. Every startup has competition, regardless of product, service, and/or industry. While acknowledging competition is the first step, startups must also find a way to stick out from the crowd – and simply declaring your startup is the “best”, won’t cut it. To succeed, you need to have concrete evidence to back up why your startup is better than the other companies in the market and articulate your competitive advantage flawlessly.
In this webinar, we will discuss:
1.) how to research competition specific to all aspects of a business especially if the product does several different things and thus has several competitors for each “function”
2.) how to articulate that a company solves the problem better than the competitors (being cheaper isn’t a competitive advantage!)