In order for an entrepreneur as confident as possible about their entrepreneurial ideas and the success of their business ventures, he needs to make a detailed analysis of industry in which he wants to compete with. Strategic industry analysis is of great importance for every business entity. In order to analyse business opportunity, one should look back at what the opportunity really is, as well as what the traits of entrepreneur should be, as entrepreneurial behavior and motivation. When a business idea exists, it is important to analyse the industry to which it belongs which should bed one by Green's model. This model includes industry condition, pertaining to Porter's model that assesses the attractiveness of an industry branchby analyzing barriers, substitutes, competition, bargaining power of buyers and suppliers. Industry condition will also be described by the knowledge and demand it requires, as well as the structure of the industry that processes the life cycle and the barriers and competitiveness of entry. It is also crucial for the entrepreneur to investigate macroeconomic changes that determine demand in a specific market, and thus can contribute to the development of ideas or the transition to new markets. As a business venture must outpace competition, analysis also includes competition analysis as well as a tool for defining value innovation that will help the entrepreneur create benefits. In addition to all the above elements of industry analysis, which will be theoretically defined, later in the paper, they were practically tested on the example of the "Studenti podučavaju" company, which will deal with the merging of students who hold instruction and teaching in different subjects, courses, etc. and students, other students and students. others seeking such instruction.