When you initially launch your home business venture, it is vital that you take a close and unbiased look at your direct competition so as to gain the insights that will be needed. This is probably one of the most key parts of your business plan, and it is often ignored bu would-be entrepreneurs, unfortunately.
If you are set to launch your home business, the first step is to analyze your competition before your quit your day job. In fact, you will to set aside a specific duration of time at regular intervals to take a peak at your competition and gain crucial business ‘intel’. A few of the areas you should certainly observe include their sales copy, their unique competitive advantage and marketing/advertising postion. Do not fail to look at any of these critical areas; it is indeed essential that you cover each one of them. Be certain to talk with your competition whenever you can, realizing that most business owners, believe it or not, really do enjoy discussing their home business ventures since they are so near and dear to their hearts. Really, it is much like parents enjoy discussing their kids in many cases. Just invite another business owner to lunch...
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