The main tasks of an entrepreneur, or what and how to do if you are an entrepreneur (part 2)
8. Foresight Are you not a psychic? Sorry. Well, let’s do it, then somehow differently. OK stop, seriously. No superfluous feelings are meant. Remember, we have already called control one…

Continue reading →

Painting house facades as a business idea
Buildings are almost always high. Stairs, hanging cradles, scaffolding and other smaller appliances are simply necessary for starting a business. And, of course, special paints, electric rollers, compressors. The complexity…

Continue reading →

Tips for a novice leader or 15 moments of truth
In business, if not at the very beginning, then a little later, when he grows up, you will have to be a leader, one way or another. Therefore, today's post…

Continue reading →

Industry Analysis through 40 Questions (part 2)

Competitors and Competitive Industry Analysis
22. How many competitors in this industry? Analyze your piece of the market, i.e. those with whom you are really competing. But be aware of the overall competition in the industry too.

23. Who will be (or are) your main competitor in the market?

24. How long have your competitors been in the market?

25. What market share do they own? In general, and each individual. Naturally, these will be indicative definitions.

26. Where are they and where do they work (that is, they offer their services and / or goods)?

27. How easy is it for other firms to enter this industry (that is, to get new competitors, from your point of view)?

Industry Suppliers
28. Who are the main suppliers in the industry?

29. What is their impact on you and your competitors?

30. Is there more than one supplier?

31. Is it easy (and profitable) for a supplier in this industry to enter the market independently and sell goods and services to end consumers past you?

32. What are their benefits from working with you?

33. Will it be possible to easily change the supplier in the future?

Industry Products
34. What types of products are offered in this market?

35. What is the uniqueness or advantage of your products?

36. What kind of products do your competitors offer (or can offer)?

37. What other products can consumers buy in exchange for yours?

38. Is there a substitutional market (a market that users can be a full replacement for yours)?

39. What are the key factors when choosing the type of product (ie market) with this opportunity?

40. What are the main qualities of the product in the industry? What is most important in a product (for consumers, not for you, of course)?

And so, I think, if you answer all 40 questions, you will have a working industry analysis that you can apply in your business activities. Answers to some questions, of course, may require more effort, but nothing can be easier, right? 🙂 Good luck with your industry analysis!

The main tasks of an entrepreneur, or what and how to do if you are an entrepreneur (part 1)
I will say right away: this topic should be considered, as it were, in a special plane, or something ... What do I mean? I explain. I am a supporter…

...

How to increase profits in your business (part 2)
How much will profit increase? Above, we have listed five methods for increasing profits. How much profit will increase depends on how effectively we implement all the changes in the…

...

Industry Analysis through 40 Questions (part 1)
Analysis of the industry is not only an important step in opening your own business, but also an important tool for conducting and developing your own business. Indeed, making an…

...