Module 15: Market

Learning objectives: find out how to define and quantify your target markets.

Once you have excited investors about the overall opportunity, they want to know how big your business could become. Are you in an appealing market? Is the market big enough for you to generate millions or billions of revenues? Do you need to convert every customer to achieve your goals, or only a small percentage? This module shows you how to master your markets, by defining three target markets, quantifying them in a bottom-up calculation, verifying that they are big enough, and validate them using external data to identify growth rates over the years ahead. 

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Written and audio guide: 22 mins

Summary video


How to approach it

Slide template

Investor insights, covering common mistakes and tips and tricks

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2 Tool exercises

Define and describe your three target markets (~45 mins) 

Quantify, verify and validate your markets, so you know they are right for the business you want to build (~30 mins)





Screenshot of the market spotter

U2R Market Spotter

How you define your market is critical. Investors won't invest unless they understand and are excited by it. The U2R Market Spotter takes you through the process of defining markets using the most common approach (TAM, SAM and SOM). It will also help you to come up with the right descriptions, so you can explain it and find the right market data more easily. 

U2R Market Sizer

Once you have defined your markets you need to know if they are big enough. How large are they today? How big will they be in five years' time? The U2R Market Sizer guides you through the process of a 'bottom-up' quantification. The tool automatically calculates your CAGR and uses your margin to gauge whether the market is likely to excite VCs.

Screenshot of the market sizer

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