BBB Business Tip: How to Implement a Competitor Analysis

One common mistake business owners make is assuming their competitors are identical to themselves. In reality, your business likely offers something unique—a better product, service or solution. Identifying these distinguishing features starts with comparing your offerings to those of your competitors, making research essential. So, how can you be sure you’re truly standing out? Follow these five simple steps from the Better Business Bureau to gain insight and elevate your strategy.