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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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LPTA Awards: Sad to Say, They’re Not Going Away

Over the course of the past several years, “best value” has reigned supreme in the federal contracting world.  But with the economic downturn, we’ve seen an increase in Lowest Price-Technically Acceptable (LPTA) contracts.  Despite the general aversion for LPTA awards, they’re here to stay. Last summer, Washington Technology did a survey among contractors regarding LPTA contracts.  68% of the survey’s respondents said the LPTA has negatively or mostly negatively impacted their businesses; pointing to suffering profits, lowered salaries, and an influx of junior staffers as results of increasing LPTA awards. And 66% of respondents said the LPTA has negatively or

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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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Richter & Company Welcomes Brandon Conroy

Brandon Conroy, former Competitive Intelligence Analyst at Northrop Grumman, has joined Richter & Company as Executive Competitive Analyst.  As an Executive Analyst, Conroy will provide senior-level competitive analysis and business development support for clients.  Conroy will also be involved in training development. “We’re excited to have Brandon join our team,” said Randy Richter, President and Founder of Richter & Company.  “His strong analytical and CI skills, paired with experience within the defense market make him a wonderful addition to our company.” Conroy holds a Bachelor’s degree from University of Maryland and has worked nearly 15 years within the defense and

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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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A Strong Knowledgebase

In the journey of competitive intelligence, it’s essential to have some kind of knowledgebase to store information.  This knowledgebase allows you to capture data, analyze historical trends and preposition information as you move into the future.  Here are a few characteristics of a strong knowledgebase: A strong knowledgebase is shared by your team.  Too often, there are no shared data points between coworkers.  One has a Rolodex of his references; another has an Excel file saved on her desktop.  The best knowledgebase is one that’s shared among coworkers so it’s robust and constantly updated.  In order for that to happen…

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