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MGT 471 - Entrepreneurship

This guide will help students in MGT research their industries and potential valuations.

Identify your industry (NAICS)

An industry is a group of businesses that produce and/or sell the same, or similar, goods or services (Ruediger & Olsen, 2013). 

To streamline collection of data about industries, the U.S. Federal Government developed the North American Industry Classification System or NAICS.

You can use NAICS codes to search for information about your industry, including typical the number of establishments, types of expenses, financial benchmarks, etc.  


Recommended resources

Remember that an emerging product might not fit perfectly into a single NAICS code. You might need to strategically weigh and average two or more industries to produce the best presentation.

Stuck? Consider which industry might lose customers to your product. For example, dessert hummus likely would appeal to consumers who purchase ice cream and/or frozen yogurt (311520).

Research your industry

These cover topics such as growth outlook, key success factors, and margins.

Research news and events affecting your industry

Research market share