Choosing the right industry and sub-industry ensures that the project is aligned with specific market needs and trends. This alignment is crucial for developing targeted strategies that resonate with the intended audience.
Different industries require different resources and expertise. By accurately identifying the industry, you can allocate the right kind of resources, whether it's technology, human skills, or materials, tailored to the industry's specific demands. It also ensures that team members with relevant industry expertise are involved, which can significantly impact the quality and efficiency of the project.
Categorising your Projects by what Industry & Sub-Industry they fall under also helps you as a business to identify what core areas your business thrives in or potentially needs some more focus to grow in. It will allow you to see from a high level if your business specialises in particular types of Projects or if there are particular types that your workers struggle with.
Correctly identifying the industry and sub-industry is crucial for long-term strategic planning and scaling the project and your business in the right direction.