Inside Info on Markets Competitors

Question: My first business was a modest success, but I made mistakes and finally closed it. This time I want to do more advance research on potential markets and competitors. I'm short on time and money. Where should I go for info?

Answer: What you're suggesting is a wise move into something called competitive intelligence (CI). It's one of our favorite topics. We love the thrill of the CI chase - sleuthing for inside info on competing companies?digging for data on new markets. Here are some places amateur 007s can find intelligence gold, along with sources of professional CI help if you need it.

Want to join the competitive intelligence "in" crowd? Then you'll want to rub elbows (or at least Web browsers) with Fuld & Company (www.fuld.com), a CI pioneer based in Cambridge, MA. Fuld mostly caters to Fortune 500 types, but its Internet Intelligence Index (www.fuld.com/i3) is a cool tool with free links to over 600 intelligence-related Web sites on everything from monitoring services to individual industries. Call 617-492-5900; e-mail: info@fuld.com

Business.com (www.business.com) is one of the best single Web destinations for business research. It's a free and biz-specific search engine designed to help you find the companies, products, services and marketing info you need for smart decisions. Site has some 400,000 listings in 25,000 industry, product and service categories. This ad-supported site skips the frills. Business.com's home page features a simple list of 25 industry categories, each divided into dozens more sub-categories. Customize your visits and monitor news by industry.

Hoover's Inc. (www.hoovers.com) - once a niche player providing rifle-shot info on a narrow list of companies - has morphed into a more rounded CI source. Hoover's doesn't merely regurgitate data, it creates its own. Some is free; most you pay for.

Uncle Sam spits out mounds of statistical info, some actually useful for market research. Getting to what you need, however, can be tricky. FedStats (www.fedstats.gov) is a gateway to statistics from over 100 agencies. And surprise! It's actually well organized and relatively easy to navigate. Search by topic. There are hundreds, from Acute Conditions (like the common cold) and Agriculture, to Vital Statistics (marriages, births, homicides). MapStats section has profiles of states, counties and Congressional Districts. "Statistical reference shelf" lists collections of statistics available online. If the Feds produced it, you can probably find it via FedStats.

KnowX.com offers quick access to public records information. Search some categories for free; others you pay for. KnowX can help you gauge business risks by validating businesses, identifying owners and uncovering adverse actions. Find records for bankruptcies, real estate deals, corporate officers, professional licenses and more.

U.S. Census Bureau (www.census.gov) is a monster statistical center. Search by topic at the home page (click Search button on left). Census offers oceans of data products. The online catalog is being redesigned, so may not be viewable, but you can call 301-763-4636 (M-F, 8:30-4:30 EST).

The old Dun & Bradstreet - now simply D&B (www.dnb.com) - offers excellent business intelligence services through D&B Small Business Solutions. You can find info on new customers, old customers, your competition and new markets. Go to sbs.dnb.com or call 866-472-7362. The best info isn't cheap, but it's worth the cost.

Need Research Help?
If you don't have the time or energy to do your own research, these resources can help:

The Society of Competitive Intelligence Professionals (www.scip.org), in Alexandria, VA, is a non-profit membership group for people who create and manage biz knowledge. Their CI Marketplace, on the Web site, is a shopping mall for competitive intelligence resources, such as CI product and service vendors. Call 703-739-0696; e-mail info@scip.org

The Association of Independent Information Professionals (www.aiip.org), based in Baton Rouge, LA, has a referral service that provides contact info for up to three AIIP members who can help you with an information-gathering project. The referral is free and you would negotiate rates with the service provider. Call 225-408-4400; e-mail info@aiip.org