We're deciding whether to enter a new business. In the previous step, we identified resource gaps. These gaps need to be filled, either through organic growth or inorganic growth. It turns out that it's easier to consider the inorganic growth option first. That's what we are going to do. Here are the five steps again. We did step one synergies. We did step two resource gaps. Resource gaps can be done at the level of the generic value chain. Now it's time to be more specific and identify potential candidates. The reason is that, optimal inorganic growth choices might vary by partner. So let's move to step three, identifying candidates. Broadly speaking, there are three types of potential candidates: The first is insider generalist. These are companies that are already active in the new business and occupy all steps in the value chain. The second category is also insiders, but this time specialists, so they are active in the new business but only do a subset of the value chain segment. So only a few steps of the value chain. And then the last category is outsiders. So these are companies that might help you to enter new business but are not active in that business themselves. Now, if your resource gap is very large, then a useful starting point might be to begin with insiders and particularly an insider generalist. Because you would require a lot of resources and almost by definition, an insider generalist has those resources. Let's revisit our earlier example of sports car diversifying into theme parks. Now, we've just said that if your resource gap is large, it might be useful to start with an insider and perhaps an insider generalist. It turns out that the theme park's value chain really consists of two different stages or two big chunks. In the first step, R&D is really about designing the theme parks, building it, setting it up. The remaining steps are really about running the place once it has been designed and built. Thus what we could do, we could try and find insiders that are active in the first part of the value chain, companies with experience in designing and building theme parks. And we could find companies that are experienced in the second stage of that value chain. Really running the place once it has been built. Because this business is new to you, you may have an idea of what type of candidates you're looking for. But you may not know their identities. So if it's important that you seek help here, maybe talk to investment bankers, maybe talk to industry experts, or maybe ask your market intelligence department to do some market research. Importantly, here you need to get specific, if you can identify no candidates, you have no choice but to do organic growth. However, if you can identify some candidates, you could consider inorganic growth. That's what we're going to look at next.