To develop an understanding of an industry, you must understand its structure. Exploring your industry will help you gather information to persuade others to work in this industry. For a large industry, information is easy to find. For smaller industries, which may be fairly new or filled with "mom-n-pop" and private businesses, a different approach is needed. Examples of where you may find industry information include:
Using these sources enables you to find out what information already exists, see the opinions and ideas of experts, and reach your own conclusions based on facts and analysis.
Industry reports include the following sections (all with data to persuade):
Search by industry or company name (if it is a large player). Reports include:
In the unlikely event that your industry is not there, find a related industry.
Note: use the Web Links to find leading organizations with an interest in this sector for more industry information
Example of SWOT analysis from Hoovers:
For niche or fragmented industries, think about who cares about the industry. It might not be gathered all nicely and packaged for you. You may need to rely on industry experts using First Research’s web links described above. Business news and articles will also help by looking for similar products, competitors, ideas, etc.