Case Study: Growth Mentor - Competition?
A deep dive into a successful business and what makes it so.
Every business plan on the planet has a section on competitors. For early-stage startups, it's an exercise in fantasy or fear. Far better to think about what else your customer is doing today to make progress.
In our Growth Mentor case study, there was no competition. But there are many other ways a customer could make progress.
Let's look at a use case to make this clear:
Most of us can figure out a website analytics program to track the basics, such as the number of visitors and their source. But think about a marginally more complex use case of monitoring a marketing campaign. How would you ensure the program's ROI?
You could:
Read pages of documentation.
Ask a coworker to help you.
Contact the analytics support team, but that won't work because your tech stack is unique to your company.
Type your questions into Google.
Those are the existing alternatives. And they are far more critical than any real or imagined list of competitors.
Foti Panagiotakopoulos, the CEO of Growth Mentor, relayed one more that validated both the problem and began his journey towards a solution.
He was struggling with his marketing tasks and was doing all of the above 'existing alternatives' as an engineer with no business training.
