How Fortune 500s simulate competitor moves and block their attacks
(and how you can defend your product):
(and how you can defend your product):
Step 1: Choose your competitors
Consider any alternatives to your product including:
β Direct competitors
β Similar solutions (substitutes)
β Startups disrupting your industry
β Competitors in a different market
Consider any alternatives to your product including:
β Direct competitors
β Similar solutions (substitutes)
β Startups disrupting your industry
β Competitors in a different market
Step 2: Place people in the role of each competitor
Hereβs where they pretend to be your competitor
Give them a list of the competitive tools, advantages, and capabilities their business would have
Hereβs where they pretend to be your competitor
Give them a list of the competitive tools, advantages, and capabilities their business would have
Step 3: Simulate attack
Each team comes up with different ways to attack your business
What moves are the most likely? The most devastating?
The winner is the team who comes up with the attacks that damage your business the most
Each team comes up with different ways to attack your business
What moves are the most likely? The most devastating?
The winner is the team who comes up with the attacks that damage your business the most
Step 4: Figure out the impact and chances of each attack
Talk through what happened when teams attacked your business
β Which part of your business is most vulnerable?
β Which attacks hurt the most?
β Whatβs the financial damage?
β How likely is each attack?
Talk through what happened when teams attacked your business
β Which part of your business is most vulnerable?
β Which attacks hurt the most?
β Whatβs the financial damage?
β How likely is each attack?
Step 5: Prevent
As a group - come up with defenses against the most likely and damaging attacks to your business
Strong defenses will keep your business growing and safe from competitors stealing your customers
As a group - come up with defenses against the most likely and damaging attacks to your business
Strong defenses will keep your business growing and safe from competitors stealing your customers
Summary:
1/ Choose competitors
2/ Pretend to be your competitors
3/ Attack
4/ Impact and chances of each attack
5/ Prevent
1/ Choose competitors
2/ Pretend to be your competitors
3/ Attack
4/ Impact and chances of each attack
5/ Prevent
That's a wrap!
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@BrianFOConnor
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Follow me for more on strategy and product positioning β
@BrianFOConnor
Can't get to everything today?
Head back up and retweet the top tweet so you and others can find it later!
Here's the link:
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