Get 10x from Competitor Analysis
Learn their mistakes and pivots in 30 minutes!
So you've just started your own thing and bumped into a competitor? Feels a bit scary, huh? But guess what, it's actually a really good thing. When we see someone already doing what we've thought of, it just proves people want what we're making. It is some what a validation that market exists.
So, how can we benefit from looking at our competitors and accelerate our business 10x faster?No, you're not just gonna point fingers or fuss about differences. Instead, you're gonna walk in their shoes, see where they started, and figure out why they're doing what they do.
Just like you and me, our competitors have their own big dreams and started from where you are at. They’ve struggled the same with MVPs, getting the first customer, finding the right product messaging, possibly micro pivots on products or their targets, etc.
I've got a cool trick to share: We can use a neat tool called WebArchive to sneak a peek at their past and learn how their business evolved along the way. It's like a time machine for websites!
Here's how you and I can hop on this time machine:
Let's go to this WebArchive Link
Type in the website of the competitor we're curious about.
Then, we go detective mode and follow the timeline to see how their story has unfolded. We'll see how their message has changed and the big steps they've taken.
Doing this can help us get a feel for their spot in the market, who they're selling to, and how they've grown. It's a pretty neat way to learn how they evolved, mistakes they made and pivots that costed them much! You can learn a lot from their mistakes and avoid it yourself or use it as your advantage to find a new niche.
And here's a magic trick if you're using any Web crawl enabled LLM solutions (e.g. Copy.ai).
Just type "Analyze the different captures of https://xxxx from web.archive and write a summary of how the product evolved its messaging from date on inception to today," and voila, you're a wizard!"
This is a trick that I developed myself and used for past 10 years on tens of ideas and MVPs I found myself or helped other entrepreneurs.
Try it yourself. It works like a charm 😎
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