5_CI for Small Business
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Transcript of 5_CI for Small Business
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Competitive Intelligencefor Small Business
Summer 2011
Dr. Ahmed Nassar
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Dr. Ahmed Nassar CI for Small Busin esses 3
What Do Entrepreneurs Need?
Access to capitalEntrepreneurial cultureBasic infrastructureTalented employeesPeer networksMarket, industry and competitor informationAccess to marketsTraining in all aspects of business
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Dr. Ahmed Nassar CI for Small Busin esses 4
Why Small Businesses Need CI?
Reduce risk of making wrong decisionsGet early warning of threats and challengesUncover inaccurate assumptions
Learn what they dont know Understand market niches and differentiationFind potential alliances and partners
Develop a strategic action plan
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Dr. Ahmed Nassar CI for Small Busin esses 6
Delivery of Competitive Research Services
Counseling/technical assistanceCompetitive research
Administrative supportExpanded functionsE-commerce/Web marketing analysisGIS services
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Indentifying Information Needs
Business Support Info:
Financial adviceLegal adviceHiring or workforce assistanceManagement trainingOperations/process assistanceWeb design/marketing
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Indentifying Information Needs ( 2)
Business Research Info:
Marketing listsCompetitor informationCustomer information/demographicsMarket and industry trendsBest practicesExperts
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Key Business Question 1:Who Are My Competitors?
Who else is in my space? What are their basic offerings (product, service,
price, market strategies, delivery method, etc.)? With whom could I partner?
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Key Business Question 3:What Are the Characteristics of M y M arket?
How large is it? Is it shrinking or growing? What are the potential niches? What are the channels of distribution to get my
offerings to the market?
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Key Business Question 4:What Are the Trends and Developments in
M y I ndustry?
What are the trends and developments in my industry? What are the current trends? What are the future forecasts? Who are the industry leaders?
CompaniesPeople
What are the best practices? How is technology impacting the industry? How do I stay up to date?
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Analysis & Reporting
Focus on what answers the business owners question - Actionable Intelligence:
Identify key competitive insights Offer recommendations and next steps Summarize information and provide executive
summary
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Dr. Ahmed Nassar CI for Small Busin esses 14
Recap of Small Business Needs
Basic question:
What market space are you in, who else is there, and how will you differentiate yourself to reach customers?
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Dr. Ahmed Nassar CI for Small Busin esses 15
Recap of Small Business Needs
We need to know what we dont know:
Competitors
Potential partners Market characteristics Price points New product/innovation opportunities Key industry experts, associations, publications and
trade shows Opportunities on the Web
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Dr. Ahmed Nassar
CI Environment
CIEnvironment
CorporateSecurityThreats
TechnologyDevelopments
& Sources
Political,Economic,
& SocialForces
Markets & Customers
CompetitorCapabilities,
Plans, & Intentions
IndustryStructure& Trends
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Dr. Ahmed Nassar CI for Small Busin esses 17
Recap of Learning
Strategic information provides businesses with acompetitive edge, reduces risk, tests theirassumptions, and leaves more money available to the
business Key business information needs include competitors,
customers, market, and industry intelligence You can gather information from published or human
sources Analysis turns information into actionable
intelligence
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Dr. Ahmed Nassar 18
Thank You Very M uch
CI for Small Busin esses
