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Market Sizing & Competitive Landscape Worksheet

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How big is your opportunity? It's easy to find out with some creativity, smart assumptions, and basic algebra. Knowing your market size before you invest your time or ask investors for money is key to investing wisely.

Who else is providing the value you provide? Who else is similar, and what can you learn from them? What trends, opportunities, threats, news, etc in your industry can help you or hinder you? Understand your competitive ecosystem, and thrive in your new business.

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Market Sizing & Competitive Landscape Worksheet

  1. 1. What’s my opportunity (market size)? What’s my landscape (competitors & ecosystem) 1 of 7 Part 0 Insights: To start and to end (30 minutes) To start: check in with your process on understanding your users and customers Actions: What did you do? Who did you talk to? About what? What barriers did you face? Insights: What about lifestyle, market, industry, problem, excitement, friction, incentives, needs, pain points, values, deeper “why”s surprised you? Who will pay and how much? 1. 2. Questions & next steps: What would you like to explore further? What are you unclear on? What interesting lead will you further? Is there a new kind of user/customer/org to pursue? 1. 2. To end: Takeaways and next steps. Ask questions. Bug your coaches! Takeaways: Most interesting/sharable tidbit from today? What do you want to try? 1. 2. By ___________________, I will _____________________________________________, to size my opportunity. Research notes: How big is your market? How can you learn more or test the opportunity? 1. 2. 3. By ___________________, I will _______________________________________, to map competitive landscape. Research notes: Who else solves the problem? What can I learn from them? What’s important about my ecosystem, who’s in it, or how it’s changing? 1. 2. 3. By Angela Ognev of Redesign Happy: Workshops & coaching for teams energised by action and insight. Created for the PACT Incubator, powered by DBS. Questions? angela@redesignhappy.com More tools? http://www.redesignhappy.com
  2. 2. What’s my opportunity (market size)? What’s my landscape (competitors & ecosystem) 2 of 7 Part 1 Definitions: Market Sizing (15 minutes) Word/Phrase Brief definition / Use case Why it matters to me market sizing The process of estimating the potential of a (#1) market (TAM) (#3) Total demand for a product/service in $ per year Segmented Addressable Market (SAM) (#3) Segment of the TAM targeted and within reach Share of the Market (SOM) (#3) The portion of SAM that you can capture with existing resources top-down sizing approach (#4) Starts with market and industry data, looking at location and those who can buy bottom-up sizing approach (#4) Starts with your customers. How many potential customers and how much/often do they buy? market penetration (#6) How much of all possible customers are reached, by all companies? market share (#6) How much of the reached customers does a particular company have? Gross Revenue (#6) Total amount made (you sell your own products( Net Revenue (#6) Amount made after all deductions By Angela Ognev of Redesign Happy: Workshops & coaching for teams energised by action and insight. Created for the PACT Incubator, powered by DBS. Questions? angela@redesignhappy.com More tools? http://www.redesignhappy.com
  3. 3. What’s my opportunity (market size)? What’s my landscape (competitors & ecosystem) 3 of 7 Part 1 Note-taking: About market sizing (15 minutes) Why size your market? (#2) What are the pros and cons of top-down versus bottom-up market sizing? (#5) Why do investors care? (#7) What kind of market do you have, and how do you address it? (#8) Current/existing shifting/resegmenting new market Definition & example: Definition & example: Definition & example: How do you address it? How do you address it? How do you address it? How did we calculate the total number of diapers used per year in the US? What general ideas/methods did you take-away? (#9) By Angela Ognev of Redesign Happy: Workshops & coaching for teams energised by action and insight. Created for the PACT Incubator, powered by DBS. Questions? angela@redesignhappy.com More tools? http://www.redesignhappy.com
  4. 4. What’s my opportunity (market size)? What’s my landscape (competitors & ecosystem) 4 of 7 Part 1b Worksheet: Bottom-up market sizing approach (20 minutes) (#9) Total Addressable Market (TAM): Revenue/year for 100% of market share (#9) -Focus on total market size -All potential customers/organisations x revenue/customer/year -How many people x how much money each time x how often Consider: what kind of people, how do you reach them, how often/long would they engage, how much can they pay, how much do they pay now, etc. Workspace: What factors are important to address? What numbers should you look up? Answer: Show equation in words and give an order of magnitude estimate Segmented Addressable Market (SAM): based on your current business model (#9) aka Served Available Market. -Focus on your own technology / what you can serve within total market / who you can target Workspace: How will you adjust the TAM number? Answer: Share of the Market (SOM): based practical limits, how much you can reach in 1st years (#9) aka Serviced Obtainable Market. -Focus on your realistic market share, given competitors, constraints, other market factors Workspace: How will you adjust the SAM number? Answer: By Angela Ognev of Redesign Happy: Workshops & coaching for teams energised by action and insight. Created for the PACT Incubator, powered by DBS. Questions? angela@redesignhappy.com More tools? http://www.redesignhappy.com
  5. 5. What’s my opportunity (market size)? What’s my landscape (competitors & ecosystem) 5 of 7 Part 2 Definitions: Competitors & Ecosystem (15 minutes) Word/Phrase Brief definition / Use case Why it matters to me competitors (#1) Similar products or services to the same customers at similar prices alternatives (#1) Products or services in different forms that have the same functionality substitutes (#1) Products or services with different functions that serve the same purpose competitive ecosystem (#2) A community with member organisms also include suppliers, lead producers, competitors, and other stakeholders, each with roles. competitive advantage (#2) Cost or differentiation that allows you to sustain profits Porter’s 5 forces (industry rivalry, threat of entrants, threat of subs, bargaining power of buyers, bargaining power of suppliers.) (#4) Framework to analyze level of competition (and attractiveness) within an industry and business strategy development PEST (political, economics, socio-cultural, technological) (#6) A way to understand the macro environment SWOT (Strengths, weaknesses, opportunities, threats) (#7) Structured planning method to look at favourable and unfavourable traits By Angela Ognev of Redesign Happy: Workshops & coaching for teams energised by action and insight. Created for the PACT Incubator, powered by DBS. Questions? angela@redesignhappy.com More tools? http://www.redesignhappy.com
  6. 6. What’s my opportunity (market size)? What’s my landscape (competitors & ecosystem) 6 of 7 Part 2 Note-taking: Competitors & ecosystem (15 minutes) Consider what’s happening now, where you are position, and what will happen in the future. Competitive Advantage / Strengths & Weaknesses (internal) (#3) What’s different about you? Features, customers, distribution, technology, price, deep pockets, connections, etc. (#3) Who are your partners? Those who help, support, distribute, validate, etc. (#3) Who are your competitors in the future? What if Google/Facebook/Apple/Amazon entered? (#3) (Do this on your own time!) Porter’s 5 Forces Analysis of Competition & Strategy Dev Opps & Threats (external) (#5) Industry Rivalry Competition Threat of new entrants Low / Medium / High Low / Medium / High Threat of substitutes Low / Medium / High Bargaining power of buyers Low / Medium / High Bargaining power of suppliers Low / Medium / High By Angela Ognev of Redesign Happy: Workshops & coaching for teams energised by action and insight. Created for the PACT Incubator, powered by DBS. Questions? angela@redesignhappy.com More tools? http://www.redesignhappy.com
  7. 7. What’s my opportunity (market size)? What’s my landscape (competitors & ecosystem) 7 of 7 Part 2b Worksheet: Build your SWOT analysis (20 minutes) (#8) Capitalize Strengths (internal) (#8) capabilities, resources, brand, processes Invest in Opportunities (external) (#8) ecosystem, mortgage, things we’re not doing yet Shore Up Weaknesses (internal) (#8) capabilities, resources, brand, processes Identify Threats (external) (#8) ecosystem, mortgage, things we’re not doing yet Insights/Ideas (#9) Actions (to research, to do , to test etc) (#9) 1. 2. 3. 4. By Angela Ognev of Redesign Happy: Workshops & coaching for teams energised by action and insight. Created for the PACT Incubator, powered by DBS. Questions? angela@redesignhappy.com More tools? http://www.redesignhappy.com

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