This activity is intended to help you get immersed in your Industry and your business by subscribing to and reading one or more trade publications, and by researching and joining one or more associations.
One of the benefits of developing your own business plan is that you become more knowledg
eable about your business and your industry. Trade journals are magazines written specifically for a type of business or industry and they can be a wealth of information. Trade associations are groups of businesses that get together for professional development, networking and training opportunities.
How do you benefit by joining trade publications or associations? Here are a few suggestions:
- To learn who the leaders are and what they are doing and saying.
- To identify networking, educational, marketing or advertising opportunities.
- To learn about the Industry or industries affecting your business.
- To keep current on Industry issues, trends and events.
- To discover possible leads or ideas for customers.
- To keep tabs on your competitors.
- To make contact with suppliers or customers.
Action
The main point of this step is to set out to become an expert on your targeted business and Industry.
- In a library or on the Internet, search, locate, and read trade publications relevant to your business. If a publication seems appropriate, subscribe to it.
- Research relevant trade associations. Select at least one suitable association and join it.