Tag – You’re It!Posted: February 16, 2017
February 16, 2017
I was reading the most recent issue of Successful Meetings. Why, you ask? Because if I am going to work – or protect – a meeting, conference or trade show with respect to CI, I should how they are being run and how they are changing.
Anyway, it had an interesting article for people who are being told that they are now doing meeting planning in addition to everything else they do. Taking it as inspiration, here are a couple of tips for DIYers who are (suddenly) told “Well, you know all about competitive intelligence, so why don’t you provide us with some in addition to everything else you are doing”:
- Be prepared to get going; While this may not have happened to you yet, the operative word here is “yet”. While it is not always true for CI teams that “If you build it, they will come”, when you are doing your own CI, eventually others will (a) figure out that you are doing this, and (b) some will realize that the CI is adding value. Then, it is but one step to being drafted, so prepare for it. Look at the next 8 tips and see where you stand now with respect to each one.
- Take advantage of training and education:: Take a hard look at any groups of which you are a member. Then check on groups that your organization or other employees are members of. Have their newsletters and magazines dealt with CI? If so, start checking the latest issues. Have they offered sessions on CI or related areas (strategic intelligence, war gaming, scenario development, long-range scanning)? If so, see if you can take a webinar of a past session. Also, check the agendas of their forth-coming meetings for sessions on CI that you can attend. There are also a variety of groups that run formal training programs and even annual sessions on CI. Among them are the Institute for Competitive Intelligence and the Fuld-Gilad-Herring Academy of Competitive Intelligence. Check them and others out.
- Stay current: There are numerous websites and blogs – such as this one – that you should tap into for current developments and discussions about CI. Staying current on CI is now a part of your job – it should have been at least a small part already.
- Identify internal and external partners: Here is where your networking is key. If you already have an internal network, use it. If not, start developing one now. Look around for potential external partners for your future research: think trade associations, affiliates and subsidiaries, academic research centers, suppliers, customers, and government agencies.
- Find out the reasons for the assignments: To do your best CI research and analysis, you must know not only what they (whoever they are) want, but, more importantly, what they intend to do with it. Knowing that, you may often be able to suggest an alternative line of research or research target that is faster or cheaper or more reliable.
- Show ROI: It helps to try to show the return on your investments (ROI) in CI. For example, if your analysis shows that a planned new venture is very, very risky, casually note that the15 hours of work you did will save the organization $6.2 million it would have spent on going forward with a failing venture.
- Be smart about non-ROI statistics: ROI is not all that your CI can provide and not the only thing to point to. How about time? If your CI doubles the time that your organization now has to respond to a competitor’s forthcoming new pricing regime, when compared with the last time this happened, tell people.
- Improve your existing skills and add new ones: You already are doing some CI so you have some basic knowledge – I hope. So first, work on improving your existing third-party skills, such as working with others, managing meetings, and communication, both written and oral. Good CI that is not properly communicated is not useful or likely to be used. Then work on adding new skills such as interviewing third parties, team management, improved technical expertise on what your firm does, and working meetings and conventions.
- Promote your value and CI’s value: Do not be shy about what you are doing and what value the (new) CI is bringing to your team/organization. Diplomatically use phrases such as “Our blind spots were…”, “Filling in the following gaps…”, “Providing us with an opportunity we were not fully aware of…”, and “Avoiding a previously unexpected threat…”.
 Andrea Doyle, “Planning for Double Duty”, Successful Meetings, February 2017, pp. 12-15.
 In the interest of full disclosure, I am on the faculty of ICI.
 For more on this, see John J. McGonagle and Carolyn M. Vella, Bottom Line Competitive Intelligence, Praeger 2002.