Ropes: How to Check in on Your Competition

Know the Ropes of your Business

by Nicholas Tart · 0 comments

From Know the Ropes – Check out Your Market and Competition

This should take you less than 30 minutes and you’ll have a great understanding of how your competition and industry works.

Check in on your competition

  1. Collect contact information (preferably phone number) of five of your competitors or related businesses.
  2. Develop a list of five questions you would like to ask them about their business (you can choose a few from this list).
  3. Call the business (or email them if you can’t find a phone number) and ask to speak to the owner.
  4. Ask them if they have a few minutes to help out a young entrepreneur.
  5. If they do, ask away!
  6. Write down their answers.
  7. Rinse and repeat.
  8. Use the script below to make these phone calls.
  9. [Ring…Ring…]

    Them: “Hi, this is Bizzy McBizzerson with JuniorBiz. How may I help you?”

    You: “Hi Bizzy! My name is [your name] and I’m a young entrepreneur who is interested in learning more about [their industry/market/business]. Can you put me in touch with the owner of [their company]?”

    Them: “Yeah, I’m the owner.” or “Sure thing. His name is Nick Tart. Let me redirect you.”

    You: “Great! Do you have a moment for a few questions?” or “Hi Nick! My name is [your name] and I’m a young entrepreneur who is interested in learning more about [their industry/market/business]. Do you have a moment for a few questions?”

    Them: “I sure do! Hit meh!”

    You: [Ask away!]

Always smile when you’re talking to someone, even on the phone. Your smile makes your voice more pleasant. It will make people more likely to open up to you and reveal their secrets.

Let me know that you did this today. Tweet meh!

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