Competitor research for founders: study alternatives, not just similar startups
A competitor is any option a customer uses instead of your offer. Spreadsheets, internal staff, agencies and doing nothing can matter more than another startup with a similar website.
Compare the decision customers actually make
Map alternatives against the customer's buying criteria: total effort, reliability, switching cost, price and support. Verify public claims from the provider's own materials and record the date. Avoid assuming that a missing feature means customers are dissatisfied; their existing process may already be sufficient.
A worked example
A booking product discovers that its main alternative is a receptionist's notebook. Winning requires a simple migration and daily usefulness, not a longer feature list than competing software.
Illustrative scenario; this is not a claim about an actual Conxn client or guaranteed results.
Your action checklist
- Include manual workarounds
- Interview customers who chose another option
- Update the comparison when evidence changes
Should I copy a competitor's price?
Use competitor pricing as context. Your delivery cost, customer segment and scope may differ, so copying a headline amount can create an unprofitable offer.
AI-assisted editorial guide for practical business planning. Adapt the framework to your context and seek qualified advice for material financial, legal, employment or contractual decisions.