Wells Fargo Small Business Roundup

If you’re looking for ways to document and chart your competitors, these resources, including in-depth explanations about competitive assessment and free competitive analysis templates, can help. Gathering data on your competitors not only shows you where your business stands in the market, but it can unlock the potential of new opportunities.

“What Is a Competitive Intelligence Program?”—This article breaks down in depth the reasons for and development of a competitive intelligence program. It covers the role, uses and methodology used in creating such a program, as well as an array of tactical information and some of the pitfalls of which you need to be aware. In addition, it offers extensive information about the tools you can use to gather competitive intelligence. The article closes with additional links that are specific to web-based programs and the role of measurement in organizational research.
“Competitive Analysis”—This article features a perspective on competitive analysis that takes into account competitor profiles, charting market share and competitor strengths and weaknesses and barriers to entry based on the competitive landscape.
“12 Tips for Doing Competitive Analysis“—If you’re looking for a basic road map to undertake competitive analysis, these tips can help. From putting yourself in the shoes of your customer to resources that can help you get the data you’re after, this article offers a solid, simple approach. It’s also worth checking out the accompanying articles: “Market Research Basics for Small Business” and “Top 10 Market Research Mistakes.”
SWOT (Strengths/Weaknesses/Opportunities/Threats) Analysis Template—This free template begins with a detailed explanation of SWOT analysis and offers examples of how it can be used. The template is available as an HTML screen or as a downloadable Word file. The site also offers a link to a free PEST analysis template. PEST, an acronym for Political, Economic, Social and Technological, can be used to assess the overall market for any business.
“Introduction to Strategic Planning”—This downloadable pdf, available from the U.S. Small Business Administration, highlights the SWOT analysis as a component of overall strategic planning. Within that framework, it covers: assessing the current business environment; defining your company’s purpose and mission; deciding what you want the business to look like in three to five years; the SWOT analysis; and mapping out a course to take the company from its current to its desired position.
SWOT Examples—If you’re looking for examples of SWOT analyses in action, check out these free downloadable entries. The site offers sample SWOT analyses from Amazon.com, Dell, eBay, Starbucks, Wal-Mart and many more.