When Shirley was talking to Adnan about the importance of knowing the terrain, she mentioned to him that an important step is understanding the “landscape of players.”
What is the landscape of players?
This refers to the businesses, organizations, or individuals who are conducting business in the same marketplace your business will be in or that may impact or influence that market.
Why is it important to figure this out?
- Learning from existing businesses (e.g., failures, successes, inspiring ideas) is very helpful for growth
- Knowing your competitors well will help you figure out how to differentiate your business from theirs
- Broadening your horizons will help you think about who might be a good business partner(s).
How do I identify my landscape of players?
Identify the businesses, organizations, and individuals who are conducting business in your industry. You can start with those in the same industry and then expand to those in related or adjacent industries. Later in the course, we’ll come back to this and decide which players are competitors and which might be partners.
This is optional, but it can be helpful to conduct a review of the activities, trends, and financial results of key players. You can then use this information to better understand the industry you’re working in and get more ideas for your business.
Now you try it!
While some of these players might not be obviously similar or related to the Grow-Well business, they are still part of the landscape of players for the baby food market. The more you can understand who else is operating in the same market as you, the more you’ll see where and how your business might stand out.