Recently, I learned about a new way of looking at your competitors and this process is called a black hat.
The idea is simple: every organization has its strong and weak points. By looking into your competitors, you can assess their position and create a follow-up actions to mitigate their advantages.
The black hat assessment is only the entry phase, where intelligence brief is prepared. After that, the next steps are SWOT analysis and adjusting your price to win strategy.
The importance in this process is to find the right people.
The right people
The right people are those who are action oriented. You need to find people who are high enough in the hierarchy and who can take the actions and move them to completion. Otherwise, the entire effort and resources will be for nothing. If you find the right people, but they are not empowered to make the change, then you might waste a lot of time doing the transformation and your competitor will most probably adjust their weak points by that time. The right people also means the right people to gather the intelligence and the right people to provide the analysis.
The right project
The black hat process is very expensive exercise. You need to find a project bids that are worth the investments. Example of such bids are big government spending projects. Those are lengthy and provide enough revenue for organizations to be interested in winning them.
The right methods
Use the right methods and strategies for brainstorming, SWOT and other tools is also a very crucial step. Also, right approach to track the actions and to follow up on pending tasks is equally important.
Don’t forget that only a great outcome will justify the amount of resources spend on the activity.
I hope this article was useful and expanded your knowledge on the world of business efficiency.