Competition, we all have it.
Your competitor analysis slide on your pitch deck is really important.
We all have competitors, even if not directly. We are often competing for the customers pound in their pocket. During your pitch please don’t say that you don’t have competition, but instead define why their solution is different and why you have an advantage.
Having a good understanding of your competitors is crucial, as it will allow you to ‘stay ahead of the game’ and it’s also a great learning tool. Often competition creates an opportunity for collaboration, and the fact that there are other solutions out there solidifies the market opportunity.