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FT Essential Guide to Writing a Business Plan by Vaughan Evans

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4

Competition

“Competition’s a bitch – but that’s what gives us puppies.”

Unattributed

In this chapter

  • Your competitors
  • Competitive intensity
  • Competition in a start-up
    • Direct and indirect competition
    • Competitive response
  • Industry competition risks and opportunities

Competition is a shame. If your business were the only provider of your product or service, customers would be queuing round the block and you could charge them what you like, within reason.

But life isn’t like that. There is always competition. And the more successful your business, the more likely it is that competitors will be eyeing up your niche.

So why is competition frequently dismissed, almost as an irrelevance, in so many business plans? In eight out of every ten ...

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