To determine the size of your potential market, tighten the focus until you have a clear and specific picture. By applying successive industry and market segment funnels, you can arrive at a target market which is both credible to investors and feasible for you to serve well. This learning stream introduces the market funnel framework, a three-step process for defining your target audience and sizing segments in terms investors can use and you can apply to your financial plan.
You will learn:
- When defining my target market, should I go big or think small?
- How do I identify a market big enough to support my business?
- What calculations do investors use to determine whether they’ll see a viable return on investment?
- What resources can I use to define my industry and its segments?
- What is my “sweet spot” target market, and how do I size it?
- How can I assign a dollar amount to my target audience?
Video Runtime: 35 Minutes
Estimated Time to Complete With Worksheets: 1 Hour