© 2011 Apptivo Inc.
All rights reserved.
Before You Start a Business Understand the
Industry
If you are planning to start a business and you are going to be looking to investors or banks for
all or part of your capital be prepared to show the lenders that...
More
© 2011 Apptivo Inc.
All rights reserved.
Before You Start a Business Understand the
Industry
If you are planning to start a business and you are going to be looking to investors or banks for
all or part of your capital be prepared to show the lenders that you understand the industry you
are planning to compete in.
Many entrepreneurs don’t recognize that no matter what happens in
that industry it will affect your business, so the more you understand the industry the better
prepared you will be and the more likely you will be to succeed.
When you do a business plan, it includes discussion on the economics, distribution, competition,
and any other relevant factors of that industry.
It describes to outsiders the nature of the business
and the industry you are planning to operate in.
Thanks to the internet, the collection of industry information is no longer a problem.
There are
all kinds of websites that are packed with financial statistics, business analysis, trade
associations, an
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