Find the trade or professional association for the kind of business you plan to pursue.
Look at local hamburger restaurants. How do they pursue imitative strategies, and where do they offer their innovations?
Pick five online businesses in the same industry. From their Web sites, see if you can identify what they think is their competitive advantage. Do you agree with their assessment? Why or why not?
Think of the life cycle of an industry. Give examples of industries that are at the different stages, and be ready to defend your classification.
