It is important to analyze your competitors. The easiest way to do that, choose a few businesses who are selling the same producs or services and look for information about them.
What are the main competitors that can have a large influence on your business?
What is Their Unique Value Proposition?
How are They Advertising/Marketing?
What Are Their Weaknesses?
What Are Their Strengths?
What Are Their Values?
How Do They Engage With Their Customers?
Do They Have a Social Media Presence?