Market

Accurately identifying and sizing your target market is one of the most difficult exercises that your company will face. Factors to consider include general economic conditions, sector growth, market penetration, volume, and price. Markets should always be defined using both "top-down relevance" and "bottom-up realism."

Market Tips

Use a single real-life example. This specificity will save you time and help your audience understand the problem Quantify! Unless the problem has a cost or opportunity associated, there is no market, no matter how painful the problem is Illustrate one solution. Restrain yourself from talking about every product your company offers Anticipate your audience's objections and address them. The audience will be thinking of those objections while you are talking

Chip Hardt, McKinsey & Co. (3:45)

Hardt specifies how to identify a business' target market, define the size of an opportunity and create accurate projections.

Get Real Girl, (0:51)

Alumna Julz Chavez describes her two market segments and focuses on her addressable market.