This is the beginning of the beginning.
Before you sketch a product, build an MVP, or pitch an investor, start here:
Is the opportunity big enough to be worth it — for you, and for them?
You’re about to invest time, talent, and capital. Make sure the market is big enough, urgent enough, and painful enough to justify the fight.
Your job at this stage is to frame the game you’re entering — not just the size of the market, but your unique angle, your entry point, and why it matters now.
If you pitch investors later, this is where they lean in — or tune out. You’ve got two slides to hook them:
- Is the Market Opportunity compelling?
- Do you have a Competitive Advantage to win it?
Nail those, and you earn their attention for the rest. Miss them, and you’re fighting uphill from slide three on.
And here’s the catch — these slides aren’t just for them.
They’re your gut check too.
If these two sections don’t ring true, don’t waste your time — or anyone else’s.
Purpose
- Define and pressure-test the market you plan to enter.
- Identify your first customer targets and their biggest pain points.
- Frame your opportunity clearly enough to become a slide in your pitch deck.
- Establish whether the idea deserves more time, energy, and capital.
When to Complete
- Before drafting a product spec or wireframe.
- Before raising pre-seed or friends/family funding.
- When you can’t yet answer: “Why is this market worth the fight?”
Proof Sections
Market Definition
- What market are you entering?
- Who is the end user or buyer?
- How is this market currently served (or underserved)?
- What frustrates them? Where is the friction?
- B2B SaaS: “We’re targeting mid-sized construction firms that manage bids, subcontractors, and compliance using email threads and spreadsheets. This creates constant errors, missed deadlines, and costly rework. Our platform streamlines these workflows into a single, auditable system built for field teams, not just back-office admins.”
- B2C CPG: “We’re entering the $20B kids’ snack market, specifically targeting health-conscious parents. Today, most ‘healthy’ options are either high in sugar or priced out of reach. Our product offers an affordable, low-sugar snack with clean ingredients, packaged for school lunches and everyday convenience.”
- Services: “We’re serving independent restaurants that rely on third-party delivery apps. Current options charge 25–30% fees and provide little control over customer data, eroding already thin margins. Our service creates a local cooperative delivery model, lowering costs while giving restaurants direct access to their customers*.”*
TAM / SAM / SOM (Conceptual Draft)
- TAM: Total Addressable Market — the whole category, globally or regionally.
- SAM: Serviceable Available Market — the portion realistically reachable.
- SOM: Serviceable Obtainable Market — your initial niche or wedge.
At Concept stage, skip the chart. Just build a 3-sentence logic stack with back-of-napkin assumptions.
Access Strategy (CEO Signal)
- How will you break in?
- What’s your wedge?
- Which channel, partner, or persona do you understand deeply?
- B2B SaaS: “Launching with regional hospitals where the team has prior IT experience and credibility.”
- B2C CPG: “Starting with Whole Foods Southwest, leveraging the founder’s prior supplier relationships.”
- Services: “Piloting with three Houston manufacturers in the founder’s network to build a dense referral base.”
This is about your ability to execute, not just your spreadsheet.
Optional: Market Insight
- What’s shifting in this market that creates a new opening?
- Regulation? Technology? Buyer behavior?
- Demonstrates you’re thinking strategically, not reactively.
- B2B SaaS: “New OSHA compliance rules are forcing manufacturers to track safety data digitally — spreadsheets won’t cut it anymore.”
- B2C CPG: “Gen Z shoppers are abandoning legacy soda brands in favor of functional, low-sugar alternatives with clean labels.”
- Services: “Rising fuel costs are pushing small delivery firms to seek outsourced route optimization they previously ignored.”
Execution Requirements
- A clear articulation of your first target market segment.
- TAM/SAM/SOM logic draft — simple, text-based.
- Documented pain points or frustrations validated via at least 3 conversations.
Domain Adaptability: Moderate
The questions are universal, but framing differs by domain.
- B2B SaaS / Software Products
- Focus on workflow inefficiencies, adoption barriers, and switching costs.
- Identify verticals where existing tools are weak or fragmented.
- B2C Consumer Packaged Goods
- Emphasize frequency, brand loyalty, and retail/distribution leverage.
- Target specific consumer segments with identifiable purchasing habits.
- Services / Ops-Heavy Models
- Look for industries where human-driven processes dominate.
- Highlight measurable savings in time, money, or compliance risk.
Expected Output
- 2–3 paragraphs of logic-backed market framing.
- A short TAM/SAM/SOM narrative (Google Doc optional).
- No charts required — show logic, not artwork.
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Optional Enhancements (Pro-Level Execution)
- Voice of Customer Deck — Slides with direct quotes from early interviews.
- Back-of-Napkin Financial Model — Show pricing × initial market math.
- Market Map — Landscape of competitors, gaps, and white space.
- Regulatory Angle — Outline where policy shifts may create opportunity.