Publication number: ELQ-50023-1
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How to Position Competitors Without Any Negativity
7 Ways to Position Competitors Without Any Negativity
Introduction
Most entrepreneurs spend far too much time thinking negatively about competitors, and can’t resist making derogatory statements to their own team, to investors, and even to customers. This approach only makes these important constituents question your integrity, intelligence, and your understanding of business basics. Pointing out flaws in others does not give you strength.
As an investor, I always listen carefully to what an entrepreneur says, and does not say, about competition. Every business area has competition and every customer has alternatives, so a smart entrepreneur needs to acknowledge these as a positive in defining a big market, and position the features of a new solution in this context. Here are seven key ways to do this:
- Step n°1 |
Frame the competition as manageable
Investors want to see evidence of specific competitors who make the market, and your sustainable competitive advantage to hold your own. They don’t want to hear of no competitors, or a long list implying a crowded space. Use three generic categories, and relate your position to a key player in each.
- Step n°2 |
Highlight your positives to suggest competitor shortcomings
Talk about competitors with positive statements about the advantages of your own product. For example, “While Product X has worked well in the server market, my product also provides Cloud support, to drastically reduce IT costs and maintenance.”
