Take it to the Next Level: 3 Market Research Resources that Boost Competitiveness in Business and Careers.

Successful business owners and career professionals who sustain a competitive edge consistently rely on research and analysis of the market to make decisions and implement strategies that get results. As a business owner, I schedule time within my business schedule to conduct market research and analyze data to see how it will affect my coaching services. Most important, I encourage and guide my clients to use those skills in growing their businesses or in finding a new job.

When I talk to people who own businesses, want to start a business, or are seeking a new job, I find that they have researched and analyzed their competition in the business or job markets. As a professional business and career coach, I recommend that they:

· Use the Internet as an information source
· Read business periodicals and newspapers
· Network strategically

The reasons behind using these three resources are different and distinct; they also have important similarities. Understanding how to use these resources to analyze the marketplace, showcase your unique strengths and work hard to overcome the competition can be major assets to your success.

· Search and use the internet

Online technology is a quick way to search for trends, news, and data. If you own a business, you can “scope out” your competition and see if there are other companies, products and services that you and your business need to add. If your products and services compliment another company’s, you can think about building an alliance or joint venture with them.

The Internet provides job seekers and career changers access to job postings, tools, and resources that can enhance their job search techniques and strategies. Among the resources available are online career support organizations and listings of professionals who can help job seekers personally, e.g., career coaches, resume advisers, recruiters, training programs and videos, etc.

Most importantly, business owners and job seekers can get current, critical data that will help them create their contact approach to get their foot in the front door.

· Read business periodicals and newspapers

Today, I renewed my most valuable resource, the business journal in my city. The site http://www.bizjournal.com/ offers 40 or so business newspapers that are published weekly in print and online. I use my city’s business journal to help me read about up and down trends in my cities’ market, which businesses are succeeding, and who are the “mover and shakers” spotlighted and honored for achieving leadership success. I look at the list of events different professional and local groups are offering and register to attend them. I read advice articles on how to growing a business or how to conduct an effective job search.

About six months a go I started reading the Wall Street Journal. I start by reviewing the “agenda” on the left side of the front page. It provides an overview of the story along with the section and page location of the story, so I can quickly turn to those that interest me. Sometimes, I can see a trend or forecast that has helped either my business or those of my clients. Your area also may have a great local newspaper. Look in the business section for information.

As for magazines, I am careful about buying and reading them for a couple of reasons. First, there are so many to choose from. Second, magazine articles may take as much as three months to appear in print, making the information stale by the time you read it. But some issues of magazine offer educational CDs while others offer special reports. Look at magazines that can help your business or your job search.

· Network strategically

Networking with individuals, groups and organizations is extremely important to promoting you, your business, and your career experience if you are seeking a job. How you do it is the issue.

I networked by: (1) joining professional organizations whose purpose is to network with other business professionals and give out referrals; (2) joining professional associations with a large membership, educational and developmental resources, and different network groups, and (3) co-starting different personal network and development groups in both career change and/or business development. Sometimes this was necessary because I could not find a group that addressed my needs as well as the needs of others with similar goals.

Recently a group of small private business owners got together and started our own business development group that meets once a month. At each meeting we briefly introduce ourselves and tell a short commercial about our business, but most of the time is spent on a business topic will help us grow our businesses and help each other. Try it yourself.


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