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The 7 Greatest Challenges in Market and Competitive Intelligence
Market and competitive intelligence (M/CI) is an essential component of successful organizations. But it’s a very complex field. There’s a network of stakeholders to manage, an unfathomable amount of data, and sometimes, a lack of clarity across the organization. Knowing how to recognize and react to these common challenges is a critical skill for competitive intelligence professionals.
M/CI is absolutely worth…Read More -
Business Process Automation: Start Small for Big Benefits
Automation is not as scary or complex for small and mid-sized businesses as you think. Start small and AIM AT Results.
When CEOs of small and mid-sized businesses see economic uncertainty on the horizon, they often need help determining where and when to rein in costs. The decisions are tricker for these companies because they lack the operational redundancies that…Read More -
Synthesis vs. Analysis: Breaking Down the Difference
Both synthesis and analysis play an important role in market and competitive intelligence (M/CI), but are two markedly different stages of a broader CI process. All too often, business leaders conflate synthesis and analysis, a mistake that can be very damaging to the overall success of M/CI efforts within an organization.
In this guide, we’ll break down the key differences between…Read More -
How to Do Market Research for a Business Plan
If you’re in the process of creating a business plan, market research will play a central role in helping you to shape your strategy. You could be working on a business plan to raise investment for a new startup, or pulling together a detailed strategy that outlines the expansion of an existing business into a new market. Regardless, a business…Read More -
How to Build a DIY Competitive Intelligence System with SharePoint
Competitive Intelligence (CI) teams can sometimes be a victim of their own success. You might start out with limited resources, but you find amazing tricks and hacks that allow you to produce some useful results. And then, immediately, everyone wants you to start producing reports for them.
Makeshift processes are impossible to scale up. Instead, you find that CI becomes increasingly…Read More -
CJ Spady Joins Fahrenheit Advisors to Lead Firm’s Expansion in Virginia’s “757”
RICHMOND, VA. (JAN. 10, 2023) – Fahrenheit Advisors announced today that CJ Spady, an experienced certified public accountant, finance executive, entrepreneur, and business consultant, has joined the firm to lead its expansion in the “757,” the southeast region of the state stretching from Williamsburg to Virginia Beach.
As managing director and 757 market leader, Spady is responsible for Fahrenheit’s business…Read More -
Fahrenheit Business Advisory Expert Spotlight: Doug Moore
Doug Moore moves businesses to new stages of growth, leveraging more than 20 years in the C-suite to deliver energizing strategies to small and mid-cap companies that increase sales and profits while right-sizing costs. Close collaboration with leaders empowered to make change results in actionable, quickly-implemented, and effective plans.
FUNCTION & SPECIALIZATION
CEO
COO
Chief merchant
President of retail…Read More -
What Should Be Included in a Competitor Analysis?
Analyzing competitors is a key activity for businesses in all industries, and plays a central role in the overall Competitive Intelligence (CI) strategy of the firm. By building a comprehensive understanding of the profiles, behaviors, and strategies of competitors, businesses can make more informed decisions and better position themselves for long-term success.
It’s important to note the distinction between a…Read More -
Use a Balanced Scorecard to Measure Business Performance
“There were 5 exabytes of information created between the dawn of civilization through 2003, but that much information is now created every two days.”
— Eric Schmidt, Executive Chairman at Google
The future’s history books — which I’m guessing will only exist in some digital format — will undoubtedly chronicle the past 50 years as a nearly incomprehensible explosion…Read More -
How to Effectively Select and Manage Vendors
Selecting a new vendor, while managing and monitoring your existing strategic vendors, is vital to the success of your organization. Vendors provide critical services and products to your organization, and it is imperative to ensure that no service interruptions occur and expectations are met.
Take for instance the current supply chain issues, if your organization cannot obtain needed inventory or…Read More -
Automation Provides Downturn Protection and Upturn Acceleration
As economic storm clouds gather, there’s one investment mid-market businesses should consider making no matter how dire the forecast.
Automation.
We’re not talking months of custom-code development or enormous investment, but off-the-shelf software (typically) that streamlines repeatable processes, drives efficiencies, improves employee morale, strengthens culture, and frees talent to tackle priority challenges.
Let the computers handle the drudgery of common,…Read More -
3 Ways for CEOs to Tackle Inflation Challenges
Inflation is the Darth Vader of every business today. For more than a year, rising prices have caused rising concern for CEOs distressed about protecting their profitability. With inflation giving us an unwelcome throwback to the 1980s, it’s no wonder it keeps Virginia Council of CEOs (VACEOS) members up at night.
Experts and pundits disagree on whether we’ve seen the…Read More