The North American Industry Classification System

At the start of your research, it may not be clear what specific industry you should be examining. A good strategy is to find out if your business idea is classified in an industrial classification system. These systems organize industries by assigning them a numeric code. The most commonly used system is the North American Industry Classification System (NAICS). Once you know your Industry Classification Code you can use this number to:

Do you need to:

• Gather and analyze competitive information?

Do you need to:

• Research your customer analysis?

Do you need to:

• Conduct your industry research? 

Check Out Books & Business Plans For Inspiration

This section will introduce several "how-to" books on business to help you get started with your research. These books will primarily introduce you to business plan writing. These books will also introduce general business types such as retail and service business models.

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The North American Industry Classification System

At the start of your research, it may not be clear what specific industry you should be examining. A good strategy is to find out if your business idea is classified in an industrial classification system. These systems organize industries by assigning them a numeric code. The most commonly used system is the North American Industry Classification System (NAICS). Once you know your Industry Classification Code you can use this number to:

Related Business Plans Are Great Models

In the page below you will find examples of successful business plans. Researching your business plan can be a very time-consuming experience, but it is an essential and worthwhile investment. Your business plan will become your most important day to day operating tool. The information resources and strategies in this guide will help you create an effective plan and increase your chances for business success.

Media Coverage Can Reveal A Lot About Your Industry and Competitors

Books To Help You Get Started

There is a good chance that someone has written a book about starting a business in your particular industry. "How-to" books are a great starting place in business research because they contain a collection of useful information in one single resource. They often provide a good introduction to business planning specific to your industry, and many contain sample business plans. Contact your local library to see what business-related books they have in their collection.

Use Directories To Make A List of Competitors

To create a list of competitors and find basic information about them (e.g. number of employees, contact information) you will need to consult business directories. Many directories are available online for free, while others are fee-based commercial databases. You can find directories that are particular to an industry or geography. Your local library will likely have a good collection of directories that you can consult in person.