How to do a competitor analysis for a startup (in one afternoon)
Build a competitor matrix that actually informs your positioning — not a list of logos. Direct + indirect competitors, the axes that matter, and the gap you can own.
- A draft of your value proposition
Step by step
- 01
List 10 competitors — not 3
5 direct (solve the same problem the same way), 3 indirect (solve the same problem differently), 2 'status quo' (spreadsheets, doing nothing). Most decks skip the status quo — that's a mistake.
- 02
Pick 5 evaluation axes
Price, target customer, key feature, distribution channel, weakness. Don't use vanity axes like 'innovation' — they don't help positioning.
- 03
Fill the matrix from public data
G2/Capterra reviews, pricing pages, LinkedIn job posts (what they're hiring for = what they're building), Reddit threads. 2-3 hours, max.
- 04
Find the gap
Which cell of the matrix is empty? That's your positioning. 'Cheaper for solo founders' or 'built for agencies, not enterprises' beats 'better and faster'.
- 05
Test the gap with 5 customer interviews
Ask: 'If [your positioning] existed, would you switch from [current tool]?' If 3+ say yes, you've found something real.
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