Exploring an industry involves gathering large amounts of data, as well as talking to members of the industry – the ones who know most about it. Important information to get about your industry includes:
- Is the industry growing?
- Where are the opportunities in the industry?
- How is new technology being used in the industry?
- Are there young, successful businesses in the industry?
- Who are the key players in the industry?
- What are the typical financial results for businesses in this industry?