Here are a few tips to get you started...

o  Define you competitors broadly - start looking at ALL businesses in your local area, not just your direct competitor's. If you sell pizza then you're obviously competing with the pizza store three stores down. However you need to be aware that you're also competing with the Thai store next-door and the Pub across the road.  Include anyone that has the potential to steal your hungry customers away - even the Coles at the end of the street. 

o  Scope out the competition - This is the easy part! It's so easy you can do it in your underpants... All you need is an Internet connection - though it maybe wise not to leave your home. - Go online and see if they have a website, or if they come up in Google search results. Use alternative phrases and keywords to see which competitors have a strong online presence.  Take note of the online sites on which they are listed.  Were they easy to find?  Is your business listed on these sites?

- If they have a website, do they provide services such as online ordering? If so, order from them. Not only is this an anonymous way to suss out their business, but by experiencing their service first-hand it'll make it clearer how their business operates and what they do differently.

o  Experience the competition - If you're up for it, go and dine at your competitors restaurant. Question their every move and pay attention to the services they provide. You can use this knowledge to create your own opportunities to improve your business.

o  Talk to the customers - Find out what your customers like, and don't like about your competition. What do they think about the quality of their products, their service and the experience as a whole? Remember, your goal is to make these customers loyal to you so don't be too pushy!

What other tactics have you got to get to know your competitors?