What should a business plan say about competitors?

Describe their strengths and weaknesses.

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  1. Ignore them completely
  2. Describe their strengths and weaknesses ✔
  3. Assume they do not exist

Why: A market analysis identifies competitors and describes their strengths and weaknesses.

Huh, didn't know that: A market analysis identifies competitors and describes their strengths and weaknesses.

The dad joke
Know the competition, win the mission.
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References

Answer: Describe their strengths and weaknesses. A market analysis identifies competitors and describes their strengths and weaknesses.

  1. Scouting America: Entrepreneurship www.scouting.org/merit-badges/entrepreneurship
    Identify your business's competitors, and describe their strengths and weaknesses
    Checked 2026-11-07.

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