Lesson 5: Competitive Analysis

The focus of this lesson is to identify “existing alternatives” to their businesses to better understand direct and indirect competitors.

Required Outcomes

  • Student will create a list of key competitive factors.
  • Students will research direct and indirect competitors for their business idea and another team.
  • Students will analyze their competition to understand the strength of their idea.
  • Students will refine their BMC based on their learning.

Competitive Analysis

Competitive Analysis Grid

Use the Competitive Analysis Grid worksheet with your group to identify four direct or indirect competitors to your business. List as many different competitors factors as you can for each competitor.

Understanding the competition will help you better understand your own business.

Supplemental Reading