Many of these, especially those with billion to trillion-dollar valuations, belong to growth industries, which are defined as sectors of the global economy that experience higher-than-average growth rate. Know your industryEntrepreneurs entering a growth industry should know the ins and outs of the sector and target regions, from the movement of the regulatory landscape to trends to discussions around ethics and social effects, especially where new technologies are involved. To help you better understand the prospect of a growth industry, analyze past and present trends across multiple timeframes. Entering a growth industry usually requires entrepreneurs to be familiar with new technologies. It's a race — keep up with the speedOne thing you cannot afford to do when entering a growth industry is to rest on your laurels.