Mastering Your Industry: Competitors, Products, & Suppliers

A detailed plan to discovering competitors, products, suppliers in your industry to help grow your business.
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  • Lectures 23
  • Length 1 hour
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 4/2015 English

Course Description

It is important to develop a solid understanding of your industry. This includes who your competitors are, what products they offer, who your suppliers are, and possible areas for growth. This course walks you through each of these variables and how they impact your business.

This course provides videos from professors and real-world entrepreneurs who have built their own successful businesses, PDF downloads of exercises to complete for your own business, and topic evaluations to see where you stand in your industry knowledge.

The course curriculum is divided into six sections consisting of a general introduction called "Gaining Industry Knowledge" which discusses the importance of why you should be familiar with the different areas of your industry. The introduction is followed by five sections which discuss more in-depth topics to help you understand your industry to give you a competitive advantage. The sections include: Industry Characteristics, Competitive Rivalry, Influence of Suppliers, Nature of Customers, and Substitute Products.

This course was developed for anyone looking to start a new business, entrepreneurs growing an existing business, or anyone looking to refresh their knowledge of the industry they are currently in.

What are the requirements?

  • Download the PDF files to complete certain sections of the course

What am I going to get from this course?

  • Demonstrate your industry knowledge.
  • Describe the general characteristics of your industry.
  • Evaluate your competition's strengths and weaknesses.
  • Identify potential suppliers to meet your business needs.
  • Understand channels of distribution and target markets.

What is the target audience?

  • Entrepreneurs
  • Managers
  • Executives
  • Students
  • Employees looking to further their knowledge

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Gaining Industry Knowledge
Introduction: Who We Are
Preview
01:21
Entrepreneurs discuss knowing your industry
Preview
02:05
Gaining Industry Knowledge
Article
Internet Resources
Article
Google Searches
Article
03:29

Dave Twombly was no stranger to the garbage business when he decided to start his own venture. With 9 years of experience in the industry he knew exactly what he needed to do to serve the people of Florence, OR.

Section 2: Industry Characteristics
The importance of knowing your industry
Preview
06:07
Terms to know
Article
Industry Characteristics
Article
Research Questions
Article
8 questions

If you can answer "true" to a majority of the following questions you are most likely in a very attractive industry. If not, this may be a difficult industry but don't lose hope. You can still be successful. You will most likely have to compete on price and exceptional customer service.

Section 3: Competitive Rivalry
David Neeleman: Founder JetBlue & Azul Airlines
06:39
Don't ignore your competition
Article
David Neeleman: Understanding the Competition 1
01:53
David Neeleman: Understanding the Competition 2
01:51
Your Top Five Competitors
Article
7 questions

If you can answer "true" to a majority of the following questions you are most likely in a very attractive industry. If not, this may be a difficult industry but don't lose hope. You can still be successful. You will most likely have to compete on price and exceptional customer service.

Section 4: Influence of Suppliers
Inputs and Suppliers
Article
Inputs and Suppliers Exercise
Article
6 questions

If you can answer "true" to a majority of the following questions you are most likely in a very attractive industry. If not, this may be a difficult industry but don't lose hope. You can still be successful. You will most likely have to compete on price and exceptional customer service.

Section 5: Nature of Customers
Strategies for knowing our industry
08:17
Nature of Customers
Article
Nature of Customers Exercise
Article
6 questions

If you can answer "true" to a majority of the following questions you are most likely in a very attractive industry. If not, this may be a difficult industry but don't lose hope. You can still be successful. You will most likely have to compete on price and exceptional customer service.

Section 6: Substitute Products
What are substitute products?
Article
Substitute Products Exercise
Article
5 questions

If you can answer "true" to a majority of the following questions you are most likely in a very attractive industry. If not, this may be a difficult industry but don't lose hope. You can still be successful. You will most likely have to compete on price and exceptional customer service.

Conclusion
Article

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Instructor Biography

The Main Street Entrepreneur, Build your dream company doing what you love.

Since 1994, we have been meeting with and interviewing successful business builders. We have toured their facilities, met with their employees, observed their behavior, and recorded their stories. Our fieldwork has uncovered the critical practices successful entrepreneurs use to start and build thriving companies. When these practices are used in a new and growing venture, the probability of success goes up dramatically; when these practices are absent, the probability of failure is high. Our entrepreneurial training programs will teach you how to implement these critical practices in your own business. By mastering these concepts, you will greatly improve your odds for success.

Our team is comprised of individuals with extensive experience as entrepreneurs, business consultants and university professors. We also have an in-house film department that has interviewed and filmed hundreds of entrepreneurs around the world.

At The Main Street Entrepreneur, our mission is to provide the most innovative and engaging resources available to help aspiring entrepreneurs and business builders create successful ventures. We help turn ideas into opportunities, opportunities into business models, and business models into thriving organizations. While doing so we pledge to maintain values of exemplary leadership, continuous improvement, distinguishing service, excellent efficiency, total integrity, and a broader contribution.

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