Tue, 26 January 2021
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
In diligencing a startup, the size of the market is a key question. The larger the market, the greater the growth potential of the startup.
There’s rarely a need to pay for research as so much exists on the web.
In searching the web, you’ll find research reports giving market sizes, trends, analysis, and more.
The key here is to analyze the market at three levels.
The first is Total Available Market which is anyone the company could ever sell to.
The second is the Serviceable Market which is the target market the company wants to serve.
The third is the Beachhead Market, which is the first niche the company will pursue. Ideally, this is a small but well-defined group of companies that fit the startup’s current product.
It may not be the biggest or most lucrative market, but rather is the easiest to pursue.
The startup should have some interactions with the companies in the Beachhead market already.
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Category:general -- posted at: 6:00am CST