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Facts about your industry:

• What is the total size of your market?

• What percent share of the market will you have? (This is important only if you think you will be a major factor in the market.)

• Current demand in target market.

• Trends in target market—growth trends, trends in consumer preferences, and trends in product development.

• Growth potential and opportunity for a business of your size.

• What barriers to entry do you face in entering this market with your new company? Some typical barriers are:

  • High capital costs

  • High production costs

  • High marketing costs

  • Consumer acceptance and brand recognition

  • Training and skills

  • Unique technology and patents

  • Unions

  • Shipping costs

  • Tariff barriers and quotas

• And of course, how will you overcome the barriers?

• How could the following affect your company?

  • Change in technology

  • Change in government regulations

  • Change in the economy

  • Change in your industry