I’ve worked in mining, mobility, and fintech. I’ve invested in companies making software, micro-irrigation systems, paper, animal feed and chilli sauce. One of my learnings through this journey is that the fundamentals don’t change. Or, as Robert Smith of Vista Equity Partners puts it, “All software tastes like chicken.”
Porter’s five forces (or your framework of choice) applies across industries. Unit economics matter no matter which company you run. Your product needs to have utility for customers, whatever you sell. How you treat and grow people does not change.
Yes, there are nuances in every industry (KFC tastes different from chicken curry) and you develop insight by diving deep and spending time in it. But, see, even that is consistent across industries!
All to say: 1) if you are fundamentally sound and willing to learn, don’t be afraid to move to a different sector, and 2) don’t let anyone coax you into thinking ‘this industry works differently’.