COMPLETING THE JIGSAW BY UNDERSTANDING COMPETITION

How well do you understand your competition and the industry you operate in as an entrepreneur? Growth Accelerator Malawi held Gap Lab 2 ‘Industry and Competition’ giving entrepreneurs a chance to judge how they fair in comparison to their competition.

The Gap Lab while still having the customer’s underlying needs at its centre was about what makes the business different from others that are vying for the same customers. The entrepreneurs were encouraged to think outside the box so that they looked at all competition from like products/services or substitutes.

Temwani Gunda of JAT investment stated: “We see how it is all connecting and it is making it clear that we must really identify the true underlying customer need. Then we will be able to shape our product to meet those needs better than our competition.”

Each of the founders left with a new appreciation for the possibilities that exist just by understanding who their customers are as well as who their competitor is and how best they can then meet the customer needs in comparison.

Learn more: https://growmalawi.com/