Chapter 15: CMA – Competitive Market Analysis

The content is slowly gearing up to starting a business. 

Once you have identified a model that works for you, the next important step is CMA.

From my experience, every time I identify a business model that interests me, I google search the business I want to start.

I find it’s the best way to see who other service providers are (exist and are operating in that field) and what the competition is like.

  • Are they doing a good job?
  • Could I do it better?
  • Has this been done before or do I have a new market?

Often, I find myself getting carried away with business development ideas without doing CMA first.

Doing a CMA is often a sobering experience.

It is vital though for new business success.

Delaying or avoiding it is grounds for unnecessary setbacks.

If the market is saturated, it will be harder for your site to rise to the top. If there are no other quality or dedicated service providers, the opportunity has a greater chance of success.