Business Strategy Course:
Competitive Strategy Course: Learn Competitive Strategy in Business
Learn to build a robust competitive strategy for your business in this HubSpot Academy course! Discover how to define, segment, and track your competitors. Create a competitive matrix to showcase your business’s unique strengths and develop a greater understanding of your market.
Who is this for?
- Small business owners and startup founders looking to establish a strong market presence and differentiate their new business from competitors
- Marketing managers who want to refine their company’s competitive strategy
- Individuals interested in understanding how businesses evaluate and position themselves against competitors
What you'll learn
- Define, segment, and track competitors to articulate your business value
- Develop a competitive matrix to visually highlight strengths compared to competitors
- Create a unique competitive advantage by positioning the business as a market leader
Includes
Inbound Sales
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Instructors
Ken Burke
Ken Burke, founder and CEO of The EntrepreneurNOW! Network is a speaker, serial entrepreneur, mentor, and author. Ken founded MarketLive, a market-leading, enterprise class eCommerce software platform used by major merchants generating $2b annually in online sales through the platform. He sold MarketLive to Vista Equity Partners in 2016. Ken authored the book, “Prosper - 5 Keys to Thriving in Business and Life" which will be release Jan 2021. Ken has also published hundreds of articles and…
Curriculum
Define, Segment and Track your Competition
Lesson - 41 min
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Lesson instructor: Ken Burke Contrary to popular belief, your business should have plenty of competitors. Thriving competition shows you’ve pinpointed a viable market. Defining and segmenting your competitors helps you better articulate your company’s unique value, while reassuring investors that your offerings will fill an existing need others recognize as an opportunity. In this lesson, we’ll delve deep into the competition, with strategies for identifying and evaluating competitors and classifying them to discern where opportunities lie to fill gaps in the market.
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Build a Compelling Competitive Matrix
Lesson - 33 min
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Lesson instructor: Ken Burke The competitive matrix is a graphic that highlights your unique strengths vis a vis other players in the space. The visual snapshot is easy for investors to parse — but it’s more than a pretty picture. As you identify your most relevant strengths and how you stack up against competitors, the process of developing a competitive matrix gives you a greater understanding of your market and your business, and a valuable marketing tool. This lesson will cover how to identify the most relevant strengths to plot on your graph, how to identify and evaluate competitors on the matrix, and how to position your business as a market leader.
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Create a Unique Competitive Advantage
Lesson - 32 min
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Lesson instructor: Ken Burke The competitive matrix is a graphic that highlights your unique strengths vis a vis other players in the space. The visual snapshot is easy for investors to parse — but it’s more than a pretty picture. As you identify your most relevant strengths and how you stack up against competitors, the process of developing a competitive matrix gives you a greater understanding of your market and your business, and a valuable marketing tool. This lesson will cover how to identify the most relevant strengths to plot on your graph, how to identify and evaluate competitors on the matrix, and how to position your business as a market leader.
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Competitive Strategy Course Next Steps
Lesson - 10 min
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Feedback is the breakfast of champions!
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Course transcript
Competitive Strategy Course: Introduction Video [Transcript]
Hello, everybody, and welcome to understanding your competition on HubSpot Academy. My name is Ken Burke, and I'm excited to be here today with you and deliver this course to you as well. Now I want to make sure that you understand the difference between success and failure in running your business could very much be understanding your competition. So I want to make sure that we give you the tools and techniques to understand your competition and dominate them. Unfortunately, most entrepreneurs do not spend the time and give the energy they need to understand the competition and how to compete against their competition. There's a whole lot that you could do to gain that competitive advantage, and that's what we're going to talk about in this course today. Now a little bit about me. I'm a serial entrepreneur, and about 25 years ago, I started a company called Market Live. We were an enterprise-class e-commerce company. We did about $2 billion of transactions for our customers online in the e-commerce space. So I've seen a lot. I was in a very competitive space, and I learned a lot about working with your competitors and how to position against them. And that's what I'm going to be teaching you here today. I'm also the CEO of Entrepreneur Now, and Entrepreneur Now is dedicated to helping entrepreneurs start, run, and grow their business.
All right, now, let's get into the course a little bit and talk about what we're going to be covering. The first section is going to be defining and segmenting your competition. Now, the cool thing about this is that you have a lot of power over how you define and segment your competition, and this is going to allow you to position yourself. I want to teach you how to emerge as the industry leader through this process, and that's important. I'm also going to discuss some concepts around direct and indirect competition and the all-important wallet share.
Now, in the second part of the course, we will be delivering you a competitive matrix. I'm going to teach you step by step everything you need to know to create that competitive matrix. Now, if you're looking for money, if you're going to go out for investors or even if you're working on a project inside your company, you're probably going to be required to create a competitive matrix. And I want to give you all the tools in which to do that. But more importantly, I want to provide you with the tools so that you can position yourself up into the right. Now you're saying, What does he mean by that? We're going to teach you that you want to be up into the right in every competitive matrix because that's the best position.
All right, the third area, which is my favorite area. I'm going to teach you how to create a unique competitive advantage for your business. I want to make sure we understand what makes you unique, special, and different in the world. We're going to give you a lot of techniques and tools to do this because it drives your entire business strategy to make you unique, special, and different. All right. I'm excited to get started with you today so let's get to it.
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