market analysis follow-up call
TRANSCRIPT
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Market Analysis Follow-Up Call
Dial: (218) 486-1616Access code: 173991#
To mute (and then unmute) : *6
Go To Webinar Meeting ID: 586-450-289
This call is being recorded
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Purpose
• Follow-up on any questions from:
– Presentation
– Free Goodies
• Describe follow-up support
– 1-on-1 help
– “Building a Credible Market Analysis for Investors” Tele-seminar Series
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Today’s Agenda
• 11:00 Housekeeping
• 11:05 Purpose, agenda & check-in
• 11:20 Context / Review three phases
• 11:30 Q&A on presentation, freebies
• 11:45 Review on-going support options
• 12:00 Q&A
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Check-in
• Name
• Company
• Your interests/goals for today’s call
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Market Analysis Toolkit
Business Concept Questionnaire
22-page article: How to Analyze a Market
Free Tele-class – Additional info, Q&A, Interactive Teleclass
Subscription to email newsletter
Free tools and support to begin to engage with the market:http://www.tennantconsulting.com/sdforum.html
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To recap the roadmap:A three stage, iterative process
1
2
3
Two days
Two weeks
Two months
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Write down your business concept:- Who are your customers- What are their goals, challenges?- How many customers are there?- Who are the competitors?- What are the main market trends?- How much funding do you need?- What are the technology trends?- What are the greatest risks?
Review with advisors or experts you trust:- What are the greatest risks?- Where would you begin?- Who should I talk to?
1 Idea Screening
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2 “Quick and Dirty” Market Analysis
What you can do from your desk, a trip to the library, and a coffee shop
http://www.flickr.com/photos/stuartbryant/2375453358/
http://www.flickr.com/photos/momboleum/2381309199
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Free article: Ten steps to increase your market success:- Clarify your research objectives- Define your ideal customer and possible market segments.- Identify how customers solve the problem today.- Size the market – demand and supply.- Identify market, technical, industry, societal and regulatory trends that
affect spending on your category of solution.- Identify what you imagine to be your customer’s selection criteria and
buying process.- Talk to 3-5 “friendlies” to validate your customer’s goals, problems and
evaluation criteria, how they would buy, and alternative solutions.- Identify your customers top three goals, challenges, and pain points and
their relationship to your solution.- Write down the top three reasons you believe customers should buy your
solution instead of how they do it today or competing solutions.- Define your sales model.
2 “Quick and Dirty” Market Analysis
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Conduct 20-30 interviews with representative customers
3 Detailed Market Validation
So, that’s the idea. On a 1-5 scale, how likely would you be
to buy one?
I love it!Nobody else has
this. I’m a 5!
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Sample Interview Questions
• What are your top 3 goals? Challenges?
• Typical day in your life?
• How do you solve this problem today?
• Who would you trust for advice?
• How would you want to buy it?
• What would you expect to pay?
• What services would come with it?
• If you had three choices in front of you, what criteria would you use to evaluate them?
• What did you expect to talk about that we haven’t?
3
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Today’s Agenda
• 11:00 Housekeeping
• 11:05 Purpose, agenda & check-in
• 11:20 Context / Review three phases
• 11:30 Q&A on presentation, freebies
• 11:45 Review on-going support options
• 12:00 Q&A
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Questions?
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Today’s Agenda
• 11:00 Housekeeping
• 11:05 Purpose, agenda & check-in
• 11:20 Context / Review three phases
• 11:30 Q&A on presentation, freebies
• 11:45 Review on-going support options
• 12:00 Q&A
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Ongoing Support Options
• 1-on-1 Consulting/Coaching– Custom projects – where I do the heavy lifting
– Coaching – 1-2 days/month, you do the heaving lifting
• Teleclass Series -- “Building a Credible Market Analysis for Investors”– Six 75-minute sessions (7.5 hours total)
– Small group format
– Business Concept & “Quick & Dirty” phases
– Two payments of $150 ($300 total)
– Money-back guarantee – if you attend & do homework
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“Building a Credible Market Analysis for Investors” Teleclass
Curriculum
Primary goal: Learning the process to present your case Receive feedback on your idea & market analysisLeverage other entrepreneur’s ideas & contactsIf interested, send email to [email protected]
• Session #1 - Clarifying your business concept• #2 - Identifying key risk and research objectives• #3 - Sizing your market; prioritizing market segments• #4 - Market trends & competitive differentiation• #5 - Preparing to meet with “friendlies”• #6 - Business plan review
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Today’s Agenda
• 11:00 Housekeeping
• 11:05 Purpose, agenda & check-in
• 11:20 Context / Review three phases
• 11:30 Q&A on presentation, freebies
• 11:45 Review on-going support options
• 12:00 Q&A
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Questions?
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Thank You!