Getting the basics right
CHECKS 1 TO 4 Research your competition
What is it?
Without careful and regular monitoring of your competition, you will quickly fall behind in the battle to attract and retain customers. Do not obsess over your competitors, but instead form a high-level view of who they are, what they do and how well they do it.
Three reasons to do it
Buyers can be fickle. If you don't remain competitive by focusing outwardly from your business, you may lose many buyers before you know why it's happening.