The fourth of the six questions that I believe every business needs to answer is “Why do your customers choose you?”
Perhaps the most important question to start with is “who are my competitors?” You have to understand who or what you are truly competing against and what that competition’s strengths and weaknesses are. One of the questions that many businesses fail to ask is simply, “what category do I belong in?” Understanding your category and your specific competitors sets the stage for developing your unique competitive strategy. Finally, you need to clearly capture your value proposition.
And you thought I was asking a simple question!