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The Process

You Can’t Enter Every Contest

From an economic standpoint, competitive barbecue makes no sense. In a Kansas City Barbecue Society event, teams turn in six individual portions of four meats: 6 (chicken, ribs, pork, and brisket).  A typical entry fee is $300; travel and transportation costs for pulling your big rig total $200 or more; charcoal, wood, ice, rubs, sauces, and incidentals add another $200. And meat – oh, the cost of meat: most teams cook 36 to 50 pounds of incredibly-expensive Wagyu brisket to turn in six perfect slices.  Meat costs can easily top $500.  When all is said and done, the cost of

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5 Ways to Win Federal Contract Dollars

From early market research to Price to Win positioning, Richter & Company’s goal is to help you win business.  Here are five of our top recommendations for consistently winning federal dollars: Plan your work; work your plan.  Get involved in the program early.  If you’re an incumbent contractor, even earlier than that.  Preparation for the re-bid begins on day 1 of the contract.  Build relationships with the buying and end user customers.  Influence the RFP, so that discriminators rule in your favor.  Prove the benefit of your solution.  Build a value added team, build a plan, and then follow the plan,

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Competitive Analysis and Price to Win – like PB&J

Often times, clients want to hire us to perform a Price to Win analysis late in the game.  You know… when the RFP is out, the proposal is due in 28 days and their hair is on fire. They tell us they don’t need a Competitive Analysis, but are looking for Price to Win support for the program.  And while we’re happy to help our customers in any way we can, this is not an ideal situation. Competitive Analysis and Price to Win Analysis go together like peanut butter and jelly.  We don’t want to separate them! Competitive Analysis defines

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SWOT Part 2: So What?

As I said before, the other most common mistake that deprives SWOT analyses of their value is the failure to take the essential next step, after it has been completed.  “What is that next step?” you may ask.  The answer lies in the fundamental intent behind the SWOT analysis.  The purpose of a SWOT is to help analyze and assess the competition.  And what is analysis, other than simply deriving meaning from data?  There is a big difference between observation and analysis.  Simply put, observation provides the “what,” while analysis provides the “so what.” Herein lies the reason why many

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What is Price to Win?

Price to Win is both a process and a result.  Price to Win as more than a number, but could be best defined as the cost-capability tradeoff that embodies your company’s strategy. Price to Win, the process, identifies the position your company needs to achieve to meet your company’s business goals and objectives.  It does not necessarily mean winning.  You may want to position with your customers, but not actually win a program.  You may need to bid on a program that you don’t actually want to win because it doesn’t fit your corporate objectives.  The Price to Win process

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The Two Things (Most Likely) Wrong With Your SWOT Analysis

Whether you love them or hate them, SWOT Analyses have been around for many decades, and they continue to pervade the realm of business development and strategic decision-making, most commonly in competitive assessment.  I could talk at length about why these simple quad charts have garnered so much attention (both positive and negative) over the years, but I won’t.  I continue to see value in SWOT analyses, but only if they are done properly and completely. What I want to talk about is what almost everyone does WRONG with SWOT analyses. In my experience, the two most common mistakes that

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Trust the Process: More than Checking a List

Price to Win is always an ongoing process, which undergoes many iterations before an actual proposal is ever delivered.  Richter & Company’s training courses are designed to give you the tools and templates you need to maximize the benefit of your competitive intelligence and price to win efforts.  Actionable intelligence is derived from following the process, while trusting the skills of your analysts to deliver quality results to your capture team. But it’s more than simply checking a list:  the process is designed to lay the foundation of your winning proposal. Plan work based on requirements.  Designate resources.  Can you

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Making the Call: Competitive Analysis

At Richter & Company, we make the call.  Primary research– actually talking to people within industry– provides quantitative data we need to make sound analysis. On most projects, there are 150 to 300 contacts that we reach out to.  In our consulting role, we have flexibility in reaching out to companies as a third party.  Because we’re not vested in an opportunity, we have the ability to ask about the opportunity, problems with the procurement, the competition, and likely solutions. Primary research faces the largest risk of disinformation- any business development manager can offer unreliable information, but it also offers

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The Framework of Competitive Analysis

Competitive analysis can be a daunting task.  At Richter & Company, we believe strong, reliable processes build the foundation and framework for sound, defensible analysis.  Competitive analysis can be broken down into three parts: Business Intelligence forms the foundation of competitive intelligence.  It focuses on quantitative numbers, like financial metrics and number of units produced.  Business intelligence consists of solid, irrefutable data points that define a company. Competitor Intelligence lays out the framework for analysis.  It is made up of quantitative data (business intelligence) and qualitative data.  While quantitative data defines, qualitative data describes.  Capabilities (general and specific), relevant news

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SWOT to Strategy

Many companies include the SWOT chart as part of a competitive intelligence presentation.  They spend a lot of time preparing the strengths and weaknesses, opportunities and threats, and creating a beautiful image.  And… that’s it. SWOT charts were designed to be springboards for creating strategies.  What products or services will the company leverage?  How will they differentiate their offering?  What story will they tell?  What are their weaknesses?  Are they aware of them?  How will they mitigate those weaknesses?  How are they perceived by the outside market?  What kinds of opportunities and threats exist outside of the company’s control? Strengths

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