In this mini training, Colin discusses the importance of understanding competition in the print industry. He emphasises that successful businesses must be adaptable and aware of both large and small competitors.

The training covers methods for identifying competitors, analysing their strategies, and leveraging insights to improve one's own business. Colin also highlights the significance of attending industry events and maintaining a balance between competitor research and business operations.

Video - 18 mins long

Takeaways

• A successful business is about being adaptable.
• Pay attention to both large and small competitors.
• Competitive analysis provides insights into alternative solutions.
• Identify customer segments that competitors are targeting.
• Understand competitors' value propositions and strategies.
• Use Google and LinkedIn to identify hidden competitors.
• The 'midgie effect' illustrates the danger of ignoring small competitors.
• Analyse competitors honestly to improve your own offerings.
• Stay updated with competitors through alerts and social media.
• Balance competitor analysis with running your business.