When was the last time you researched your competition, if ever? If you own a business or even have an idea for a business, you should be researching your competitors! You might think, "Well, why would I want to do that?"

It's simple! Competitors are inevitable, and you need to make sure you stand out from the crowd! If your marketing looks like your competition's marketing, how can prospects tell the difference? Figure out ways you can improve and do better in those areas so you stand out.

Keep in mind Sandler Rule #35: If Your Competition Does It, Stop Doing It Right Away.

Start by Google searching local competitors. Get familiar with them and their business by looking through their social media, websites, reviews, newsletters, etc. Take note of who is doing poorly and who is doing well. What should you be doing that they aren't doing? What are they doing that isn't helping at all?

Then, expand your search. Look outside of your city and state. Who stands out to you and why? For example, they may have a great website but lack credible content or a call to action.

If you're looking for ideas of what you can do, look outside your industry. What are organizations that aren't competing with you doing? There's no need to reinvent the wheel! Take what works in other industries and see how you can make it work for your organization.

Keep track of your competitors and what people are saying about them. Analyzing them to do things differently will help set your business apart and make you stand out. Researching your competitors is an excellent opportunity to learn and improve. And don't just do it once. Schedule research and analysis every year, so you don't become stagnant. Keep improving so you'll continue to stand out!