Who Is In Your Cereal?
Who is in your cereal? Or, more specifically, who are you sharing space within your brand category? It’s important to know your competitors. The marketplace is crowded, but find the top five companies or individuals you see as competitors, and look at what they’re doing that’s both different (points of differentiation) and similar (points of parity) to what you’re doing. How do they stand out? What are they doing exceptionally well that you might be inspired by?
We all have something unique to offer, but it’s important to remember that there is room for all of us. The cereal bowl you are swimming in may feel crowded, but there’s room for everyone’s unique flavor to come together to create something special.