In Episode #48 Neil and Eric discuss their respective strategies for studying competitors. Listen as both hosts explain why examining the competition—while occasionally valuable—is not as helpful as examining customers, and why your big strategy shifts should be determined by YOU as opposed to the competition. Time Stamped Show Notes: 
00:10 – How much should you focus on your competitors?
00:15 – Neil doesn’t focus on competitors too much 
00:29 – Remember that the market is HUGE
00:45 – There’s a LOT of room out there
01:03 – Making a shitload of money as #2 or #3 is awesome—you don’t need to be #1
01:47 – Just focus on building your OWN business
02:12 – SEMrush
02:15 – Use it to gain keen insight into what your competitors are doing
02:49 – AdBeat
02:54 – See what your competitors are doing with more granularity
03:13 – If you’re going to pay attention to competitors, may attention to new products and market shifts 
03:55 – If you don’t, you’ll get left behind
04:10 – Don’t sweat the small stuff—look at their roadmap
04:46 – Talk to your customers BEFORE making a big shift 
05:05 – As long as you’re talking with your customers, you’ll never miss a beat
05:50 – Don’t do legwork for free
06:35 – When all you do is monitor your competitors, you’re playing a constant game of catch-up 3 Key Points: 
When it comes to competitors, only pay attention to their new products and market shifts—the rest is small potatoes.
You do NOT need be #1.
Never forget the market is HUGE.

Leave some feedback:
What should we talk about next? Please let us know in the comments below.
Did you enjoy this episode? If so, please leave a short review.

Connect with us:
NeilPatel.com
Quick Sprout
Growth Everywhere
Single Grain
Twitter @neilpatel
Twitter @ericosiu



Learn more about your ad choices. Visit megaphone.fm/adchoices

In Episode #48 Neil and Eric discuss their respective strategies for studying competitors. Listen as both hosts explain why examining the competition—while occasionally valuable—is not as helpful as examining customers, and why your big strategy shifts should be determined by YOU as opposed to the competition. Time Stamped Show Notes: <ul> <li>00:10 – How much should you focus on your competitors?</li> <li>00:15 – Neil doesn’t focus on competitors too much <ul> <li>00:29 – Remember that the market is HUGE</li> <li>00:45 – There’s a LOT of room out there</li> <li>01:03 – Making a shitload of money as #2 or #3 is awesome—you don’t need to be #1</li> </ul> </li> <li>01:47 – Just focus on building your OWN business</li> <li>02:12 – <a href="https://www.semrush.com/">SEMrush</a> <ul> <li>02:15 – Use it to gain keen insight into what your competitors are doing</li> </ul> </li> <li>02:49 – <a href="http://www.adbeat.com/">AdBeat</a> <ul> <li>02:54 – See what your competitors are doing with more granularity</li> </ul> </li> <li>03:13 – If you’re going to pay attention to competitors, may attention to new products and market shifts <ul> <li>03:55 – If you don’t, you’ll get left behind</li> <li>04:10 – Don’t sweat the small stuff—look at their roadmap</li> </ul> </li> <li>04:46 – Talk to your customers BEFORE making a big shift <ul> <li>05:05 – As long as you’re talking with your customers, you’ll never miss a beat</li> </ul> </li> <li>05:50 – Don’t do legwork for free</li> <li>06:35 – When all you do is monitor your competitors, you’re playing a constant game of catch-up</li> </ul> 3 Key Points: <ol> <li>When it comes to competitors, only pay attention to their new products and market shifts—the rest is small potatoes.</li> <li>You do NOT need be #1.</li> <li>Never forget the market is HUGE.</li> </ol> Leave some feedback: <ul> <li>What should we talk about next? Please let us know in the comments below.</li> <li>Did you enjoy this episode? If so, please leave a short review.</li> </ul> Connect with us: <ul> <li><a href="http://neilpatel.com/">NeilPatel.com</a></li> <li><a href="https://www.quicksprout.com/">Quick Sprout</a></li> <li><a href="http://www.singlegrain.com/">Growth Everywhere</a></li> <li><a href="http://www.singlegrain.com/">Single Grain</a></li> <li><a href="https://twitter.com/neilpatel">Twitter @neilpatel</a></li> <li><a href="https://twitter.com/ericosiu">Twitter @ericosiu</a></li> </ul> Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>

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In Episode #48 Neil and Eric discuss their respective strategies for studying competitors. Listen as both hosts explain why examining the competition—while occasionally valuable—is not as helpful as examining customers, and why your big strategy...

Best Strategies for Studying Your Competitors | Ep. #48

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