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03Mar
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…
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03Feb
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,…
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03Feb
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…
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21Jan
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…
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21Jan
Proposal Writing: Feature versus Benefit
Often times when companies present their solutions before the government, they talk a lot about themselves. When you’re thinking about themes, working a brainstorm session with your team, or actually writing your proposal, be sure that you’re focused on your customer. Features are attributes of your solution. Be it products or services, features are those things that can differentiate you…
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22Dec
New Year’s Resolutions for the Contracting Community
2015 means new opportunities. Not just in terms of upcoming contracts, but within your organization as well. Here are some suggestions on how to make the most of opportunity knocking: Use the No Bid. There are far too many companies that feel like once they’ve invested B&P dollars, they must bid an opportunity. Encourage your team to use discretion in…
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22Dec
Finishing Strong: 3 Habits of Winning Teams
Winning federal business dollars is cutthroat business. Especially in today’s hypercompetitive marketplace where LPTA contracts now represent a third of contract awards, and large ID/IQ vehicles reign for maximum value to the government. Winning teams work hard to win. And many differentiate themselves from the competition in how they handle a contract post-award. Here are three habits of highly effective…
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14Feb
Avoiding Proposal Mistakes
In an effort to spread the love this Valentine’s Day, we bring you five mistakes of proposals. In the federal contracting world, of course. Ignoring the person your proposal is for. Talk about what your customer needs and wants. Be in tune with their requirements, both explicit and implicit. Spend some time getting to know what exactly they’re looking for…
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07Feb
The Snow Storms of Capture
With snow and ice storms impacting much of the country this week, we’re reminded that preparing for bad weather is a lot like preparing for capture of new business within the federal marketspace. Here’s our top five bits of advice for handling either. 1- Prepare ahead of time. You never want to face the storm without the proper resources. For…
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07Feb
An Ethical Culture of Gathering Intelligence: We Never Cross the Line
With conflict of interest issues as a growing concern within the federal contracting community, it’s important that your consultants don’t pollute your ethical processes. With a shrinking number of federal procurements and budget dollars at play, it is critical that you play it safe in the realm of business ethics. More RFPs mention conflict of interest and more protests equate…