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So you have a hot new idea, and you need
to build a solid business plan. Where can you look for
market data? Think Internet. It's free, it's fast, and
with all the different search engines it can be pretty
smart, too. The challenge is, where should you look on
the Web?
Entrepreneurs use the Web to study their
competition. Many visit their competitors' sites and
study their products
and strategies. But you don't need to stop there. There
are plenty of good sources to help uncover the competition
you may not even know exists. I have compiled a list
of the 50 Not-To-Be Missed Web Sites for Business Intelligence.
These sites offer gold mines of directories and company
data
which you can use to identify leaders and key players,
research patents, study companies' financial data, read
up on news, and gain insights into the marketplace.
A major challenge of Web research is sifting through
the sheer number of sites that are returned by search
engines. Where do you look for credible data and well
researched reports specific to your industry and market?
I'd like to offer several strategies you can use to streamline
your research process, and improve the quality of your
results.
Tip number one: Look for publications that offer professional
editorial content, reputable industry directories, and
association sites with managed content. Industry associations
often turn their print materials into Web content, and
offer more timely updates of industry trends. They are
also good places to look for company lists. Don't overlook
the archives - some publications offer years of past
articles along with a powerful search engine.
Tip number two: Identify management and technical consulting
firms that are active in your industry, and see what
they have to offer on their Web sites. Firms are increasingly
using the Web to showcase their knowledge base. You may
find industry surveys, best practices in the industry,
newsletters, tips, and articles on topical issues.
Tip number three: Be sure to visit vendors' sites if
you are researching technical data. You may find substantial
libraries of white papers, product data, and technical
information.
Tip number four: Many public agencies have done a fabulous
job using the Internet to disseminate information. As
a matter of fact, more and more of the research data
published by the U.S. government are only available to
the general public in electronic format. From demographics
data to industry statistics to regulations, government
sites can offer incredible sources of data.
Tip number five: Not
all search engines and indexes are created equal. Your
best bet is to identify those
engines, indexes, and subject guides that focus on your
areas of interest. Evaluate the scope of the engines'
databases, how current the data are, the subject expertise,
and how smart and easy to use the search engines are.
Search IQ,
Search
Engine Colossus and Search
Engine Watch are sites where
you can read up and research on the search engines for
your area.
Armed with these strategies, you will find the Internet
can truly be a library without walls - and a great library
it is. Put it to use for your business.
Copyright Eva Chiu and InfoAdvantage.
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