BizSugar.com › Marketing › How To Evaluate The Competition - Can You Win?

Nowadays it’s quite rare to have an idea that has absolutely no competition (and also makes for a viable product). In most cases, if there is a market for something, then there is at least one person serving that market.

So the question is, can a new startup capture market share?

How do you evaluate the competition, and decide whether or not there is room for one more?

In many ways I think this is more of an art, than a science.

Yes there are numbers to look at, but there’s so much more that goes into it than just the metrics (most of which, you are not privy to anyways).

In fact, although I tested a few tools to see what they came back with, I didn’t find any single silver bullet. Most of it was very manual.

Here’s what we came up with.