CHAPTER 12
Competitive Differentiation
If you know the enemy and know yourself, your victory will not stand in doubt.
—Sun Tzu
To master Competitive Differentiation is to master the ability to gather competitive intel. This requires utilizing the intel-gathering process you learned in Chapter 6 and applying it to competitors by:
- Conducting competitive research.
- Making astute observations.
- Asking good questions.
We have observed how crucial the competitive intel-gathering process is during deal reviews. We often see a distinct lack of information about competitors, which ties a seller’s hands when it comes to formulating strategy. In some cases, sellers are not even aware of the companies and individuals with whom they are competing while pursuing an important opportunity. This chapter examines what you need to know and how to find it through the process of research, observations, and questions. But in order to know the competition, you must first know yourself.
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