Porter's five forces model is a tool used to analyze the competitive structure of an industry. It can help you assess how competitive forces in your market, such as new entrants, suppliers, customers, substitutes and competitors, will affect your business. By understanding these forces, you can better position yourself to make strategic decisions about entering or exiting markets and what strategies to pursue. The five forces model can also help you identify potential areas of leverage for your business and how to use them to gain an advantage over competitors. By understanding the different competitive pressures in play, you can create a sustainable competitive advantage to give you a lasting edge in the market. With this knowledge, you can make informed decisions and be better prepared to succeed in the competitive business world.