Define and Size Your Market

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 course 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?