1. Step 2: Select Beachhead Market

2. How to choose a beachhead market Segment further Workshop
Outline
Overview
How to choose a beachhead market
Segment further
Workshop
November 24, 2018

3. Analyze top 4-10 market opportunities from step 1 Choose one!
Overview
This step:
Analyze top 4-10 market opportunities from step 1
Choose one!
Further segment to determine beachhead market
November 24, 2018

4. Use primary market research from step 1 Must pick one
Overview
Use primary market research from step 1
Must pick one
Can be hard to ignore other markets
Think that more markets => increased odds of success
…But, more markets => lack of focus
November 24, 2018

5. Overview
November 24, 2018

6. How to choose a beachhead market Segment further Workshop
Outline
Overview
How to choose a beachhead market
Segment further
Workshop
November 24, 2018

7. How to choose beachhead market
”Beachhead” is from military
Want to invade enemy territory with water access
Idea
Deploy forces onto beach
Force out enemy
Establish control
Use beachhead to attack other areas..
November 24, 2018

8. How to choose beachhead market
Usually multiple options / paths to success
Not just “the one” market
Get started by doing
Action produces data
Avoid picking the “largest” market
First market is learning exercise
Best to start with something small
November 24, 2018

9. How to choose beachhead market
7 Criteria for selecting beachhead market:
Customers well funded?
Customers accessible?
Customers willing to buy?
Can you deliver whole product?
Is there entrenched competition?
Can you leverage additional segments if you win?
Market consistent w/ values, passions, goals of team?
November 24, 2018

10. How to choose a beachhead market Segment further Workshop
Outline
Overview
How to choose a beachhead market
Segment further
Workshop
November 24, 2018

11. Don’t worry about focusing “too much”
Segment Further
Don’t worry about focusing “too much”
MIT has yet to see entr. who focus too much
If anything, focus too little
Start with market that you can dominate in a short period
Narrow, focused
November 24, 2018

12. When do you stop segmenting?
Segment Further
When do you stop segmenting?
When the opportunity matches three conditions:
Same product
Same sales process
Word of mouth
November 24, 2018

13. When do you stop segmenting?
Segment Further
When do you stop segmenting?
When the opportunity matches three conditions:
Same product – all users will use same product
Do not have to make slightly different products (too broad)
Same sales process
Word of mouth
November 24, 2018

14. When do you stop segmenting?
Segment Further
When do you stop segmenting?
When the opportunity matches three conditions:
Same product
Same sales process – sales process to end users will be the same
Salespeople can use same tactics
Interchangeable language, value proposition, sales channels, etc.
Word of mouth
November 24, 2018

15. When do you stop segmenting?
Segment Further
When do you stop segmenting?
When the opportunity matches three conditions:
Same product
Same sales process
Word of mouth – end users in a community can communicate
November 24, 2018

16. How to choose a beachhead market Segment further Workshop
Outline
Overview
How to choose a beachhead market
Segment further
Workshop
November 24, 2018

17. Work in your teams to select your beachhead market Worksheets A, B, C
Workshop
Work in your teams to select your beachhead market
Worksheets A, B, C
November 24, 2018

18. Work in your teams to select your beachhead market Worksheets A, B, C
Workshop
Work in your teams to select your beachhead market
Worksheets A, B, C
November 24, 2018

19. Work in your teams to select your beachhead market Worksheets A, B, C
Workshop
Work in your teams to select your beachhead market
Worksheets A, B, C
November 24, 2018