Running a competitive analysis: Find, drill down, and evaluate your competition

So you have an idea and you think it's the next big thing. This could be the idea that you've been waiting for - the idea that's going to make you mega successful and famous. You've bought the domain, you've incorporated the name, and you've given your family a detailed timeline for your imminent success. But wait... if this idea is so great, why hasn't someone else capitalized on it?

• So how do you figure out if someone has already capitalized on your idea?
• What happens if there is someone doing the exact same thing or building a very similar product?
• Is it game over or proof that you did indeed identify an opportunity?

These are questions every entrepreneur, product manager, and even CEO have had to ask themselves at some point. You might have competitors. How do you find them? And more importantly how do you know what to make of them?

This class is designed as a how-to guide to finding and assessing your competition. Learn how to use advanced search techniques to find even the most stealthy competitor and then drill into them to assess their strengths and weaknesses.

What you'll learn:

• Advanced search techniques to tune out search "noise" and hone in on potential competitors.

• Alternative search engines and ways of searching for potential threats.

• How to use tools like SemRush to track your competitor's ad spends, ranking, and ad placements.

• How to use news and PR outlets to gauge the velocity of your competition.

What you'll do:

At the end of the class, you'll have the opportunity to use your newfound skills to seek out competitors for an idea you're working on or for a generic idea that's provided.

You will make assessments of your competition and learn to think critically about what each competitor presents. You'll get the opportunity to post your detective work and get direct feedback from me.

• Welcome to the class!
• First thing to do
• The idea we're going to use as an example
• Search techniques for finding competitors
• Running a competition analysis
• The class project
• Keep the learning going