What Is Competitive Intelligence? Why Do Gig Workers Need to Know?

What Is Competitive Intelligence? Why Do Gig Workers Need to Know?

Many people have an idealized vision of the world of freelance and gig workers. They picture you lounging on the couch, sleeping in late, working when you feel like. If you are a freelance IT specialist or project management pro, you know that image doesn’t even come close to the truth. 

If anything, those who make up today’s contingent workforce must work harder than their counterparts in traditional employment positions. For example, in addition to providing top-notch tech support services, a gig worker must also be responsible for keeping the books, marketing, payroll and taking out the trash. 

And when it comes to the highly competitive field of IT support, gig workers must stay a step ahead of the competition. And that can be very hard to do if you don’t know who your competition is and how they are performing. 

And that’s where competitive intelligence comes in.

 

What Gig Workers Need to Know

As Entrepreneur’s Encyclopedia defines it, competitive intelligence is the process of gathering actionable information on your business’s competitive environment.

They go on to say, “Competitive intelligence essentially means understanding and learning what’s happening in the world outside your business so you can be as competitive as possible. It means learning as much as possible–as soon as possible–about your industry in general, your competitors, or even your county’s particular zoning rules. In short, it empowers you to anticipate and face challenges head on.”

If you are a freelance IT specialist and you want to develop your competitive intelligence, you will need to do your homework. You should be checking the websites and social media feeds of your competitors regularly. Entrepreneur mentions a number of other resources that might be helpful, including: 

  • Yahoo! Finance: you’ll find a variety of data and financial news. “And,” Entrepreneur reports, “much of it’s free.”
  • Usenet groups 
  • Press releases and newswires
  • Chambers of Commerce
  • Better Business Bureau
  • Trade associations  
  • Trade magazines and newspapers

Techadox offers IT specialists, project managers and other gig workers another option. You can expand your business horizons by working with our network of businesses. Contact us for more information.