‘C’ is for Competition, too.

As an entrepreneur, there are tons of mistakes than can easily be made … that’s the scary part. On the flip side, in order to prevent surprises and mistakes, there are certain measures you can take to protect your business. Take the competition, for example. Who are they? What do you know about them?

“If you know the enemy and know yourself you need not fear the results of a hundred battles.” ~Sun Tzu

At minimum, consider setting up Google News Alerts for your company as well as your top three competitors. Watch what is happening in the news surrounding your industry and make sure you know about any new, up and coming competitors before they become well known.

Make time to visit the competition’s website to see what they’re working on and how they’re handling content. Find them on Twitter and Facebook and make note of what they’re doing their, too.

When you’re in a pitch, find out who you’re up against prior to the presentation and do your homework to know who you’re up against.  The more you know about your competition, the better you know your own company, the better you’ll do in business planning, service offerings, client service, etc.