Business Vs Industry: What's the Difference?

Many sales professionals know their own business and that of their customers really well. Sometimes, though, they don't know what's happening in the industry. What's the difference? 

The customer's business refers specifically to their own operation: 

• Organization chart 
• Roles and responsibilities 
• Key customers 
• Short-term strategy 

Their industry is a different matter entirely. This is information such as: 

• Key competitors - Companies that do similar things or serve the same customers 
• Technology changes 
• Outside factors that can impact them (oil prices, industry 
  scandals, regulations) 
• Who the players and opinion leaders are in their industry 

Knowing your customers' industries as well as their businesses makes you more valuable to them, and shows you more opportunities than you thought existed.

Source: https://communispond.com/insights/blog/589/the-difference-between-business-and-industry/

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