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3 Kinds of Research to Support the Growth of Your Firm [Video]

In this video blog, Lee Frederiksen describes three different types of research that you can use to support the growth of your firm. These are research strategies and questions that you can ask to really help energize how you move forward.

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TRANSCRIPTION:

I’d like to talk about three kinds of research that you can use to support the growth of your firm. These are research strategies and research questions that you can ask to really help energize how you move forward.

The first of those is what I call “opportunity research” that’s where you’re looking at different markets or different segments and you’re saying “is the opportunity in this market better or worse than the opportunity in the other market” so we’re not only interested in the growth of the market but also how they view your firm currently. What is the strength of your brand, what kind of barriers are you going to overcome? And how do you compare to the competition?

The second kind of research is what we call “brand research” that’s where we look at your firm as a whole and we’re asking the question “what is the perception of your brand?” How is it seen compared to your competitors? How do prospects and referral sources see you? What are your strengths? What are the things that differentiate you? And where do you deliver the real value?

The third type is what we call “client research”. And there we’re looking at your client. The people that you are working for and we’re asking what are their characteristics? What do your best clients have in common? How do they go about making the decisions for who they are going to work with?

These three types of research can be used separately or in combination to really give you a head start. If you’re interested in learning more about this topic, go to hingeuniversity.com/courses and learn more about the range of things you can learn through Hinge university and how they can help you explore these three kinds of research for your firm.

Lee Frederiksen, Ph.D. Who wears the boots in our office? That would be Lee, our managing partner, who suits up in a pair of cowboy boots every day and drives strategy and research for our clients. With a Ph.D. in behavioral psychology, Lee is a former researcher and tenured professor at Virginia Tech, where he became a national authority on organizational behavior management and marketing. He left academia to start up and run three high-growth companies, including an $80 million runaway success story.

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