Where Are They?
First, prepare a list of the names and locations of all possible people (that you know about) who are now buying or may buy (hopefully yours) what you are selling. Next, identify all competition (that you know about) that operate regularly in your territory.
The list of competitors includes those with places of businesses located outside your territory. Competition is businesses or people who are after the money that is available for the purchase of items or services that you want to sell — namely, products and product services. This what you are selling may be in the form of a component part that they acquired and incorporated into what they are selling. A competitor may become your client but, when this happens the client is no longer considered as your competitor. Conversely, when the client becomes your competitor, you should no longer consider him or her as a client. However you may want to think about this.
If a prospect is located outside your territory, then you'd have to consider the practicability of servicing that account. That is another problem to think about.