The Upwardly Mobile

It may seem basic to many of us, but it always surprises me how few people actually do their homework before going into a meeting, let alone launching a product or starting a business. Whether you’re meeting with the CEO of a potential client, planning a launch of a new service, or trying to figure out how to solve an internal process problem, it’s important to have some background and know what you don’t know. That said, here’s The Upwardly Mobile’s quick and dirty guide to doing your homework:

1. Researching a Person: If you’re walking into a meeting with someone new, it always helps to know a bit about them.  Search Google, Wikipedia, and LinkedIn. Even if you your research subject isn’t Steve Jobs, these methods will often reveal quite a bit. If you can’t find enough information, try local newspapers and other sources of public record.
2. Researching an Industry: Industry Research is one of the most important pieces of groundwork necessary for entrepreneurs and companies seeking to become new entrants to a market. While Google and Wikipedia may be your friends for researching a person (and can be helpful when doing industry research as well), it helps to have a specific research strategy. There are several very detailed guides that explain different research methodologies, but in general, you’ll want to paint a thorough picture of the industry by identifying key players, changes and challenges to the industry, key cost drivers, and typical operating and profit models.  Performing a basic SWOT analysis will help you understand the industry as a whole and your place within it.
3. Finding an Expert: Sometimes what you really need is an expert. You may be surprised to find that you already have one in your network. An account at LinkedIn or any of the other popular professional networking websites may not seem helpful now, but when you need to find an expert, it can be just the right thing. If you can’t seem to find anyone you know, try calling your alumni relations office and reaching out to owners of industry blogs or magazines. You may be surprised to find that many people are happy to help, even without compensation.