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A competitive analysis is a strategy where you identify major competitors and research their products, sales, and marketing strategies to identify potential opportunities where you can out-perform them. Market validation involves gaining insights from the industry sector and from the prospective customers to ensure you develop the right product for the right customer.

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Business plans outline a company's go-to-market strategy, financial projections, market research, business purpose, and mission. The business plan is also a prominent tool used to secure investors and financing for a business.

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