By Cruz at October 07 2019 08:20:17
I teach that you should seek to learn from competitors; obviously never copy another business's idea or what they are doing, but you can absolutely learn from their mistakes or see what they are doing and discover ways to improve it. All of that analysis belongs in your business plan: make sure you have your competitors under the microscope and make sure that is a solid chunk of your plan. That is some of the best research and information you will gather about what will make your business successful in future.
Make sure you are researching each point of your budget, make sure that you are giving it context and it makes proper sense within your overall plan.