Market research for startups

Founder Institute – March 27 th , 2011 - Berlin Pix (cc) BY NC SA, Rodrigo SEPÚLVEDA

Summary ,[object Object],[object Object],[object Object],[object Object]

1. Why is it important ? ,[object Object],[object Object],[object Object],[object Object]

Potential target revenue ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Potential valuation / fundraising ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Multiples ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

DCF Note : Let’s assume here the currency is irrelevant

VC ’s share ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Advice you ’ve already heard: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

2. Understand your market type ,[object Object],[object Object],[object Object],[object Object]

Examples of entering an existing market ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

A market that doesn ’t exist yet ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Sample new markets ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

A word of advice about innovation ,[object Object],[object Object],[object Object],[object Object],[object Object]

A mature market ,[object Object],[object Object]

3. How do you estimate your market size? ,[object Object],[object Object],[object Object],[object Object]

guesstimate http://shop.wetfeet.com/Browse/Ace-Your-Case/asd-%281%29.aspx

Existing markets ,[object Object],[object Object],[object Object],[object Object],[object Object]

http://www.comscore.com/Press_Events/Press_Releases/2010/3/comScore_Reports_January_2010_U.S._Mobile_Subscriber_Market_Share

Sum of all players ,[object Object],[object Object],[object Object]

http://tvnomics.typepad.com/tvnomics/vido/

4. Market entry strategy (in a nutshell) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Positioning: We sell THIS PRODUCT To THIS CUSTOMER At THIS PRICE To solve THIS PROBLEM PnL

How big is your market ? Reality check #1

What problem are you solving ? Reality check #2

Why will someone PAY for your product ? Reality check #3

1 strategy is NOT enough ,[object Object],4C 4P POS P&L 4C ’ 4P ’ POS ’ P&L ’ 4C ” 4P ” POS ” P&L ” 4C ’” 4P ’” POS ’” P&L ’”

What you end up doing depends both on your RISK profile and SWOT X Pos ” X Pos ’ X Pos ’” X Pos Return (m€) Risk (wacc) 10% 20% 30% 40%

Summary : entering a market ,[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],Pix (cc) BY NC SA, Rodrigo SEPÚLVEDA

Market research for startups

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Market research for startups