Is Your Market Big Enough? 3 Steps to Assess Your Startup’s Market Size

Even with a great idea you won’t go too far if there isn’t a big enough market that allows your startup to grow significantly. That’s why you should assess the size of the opportunity you’re working on, since the very beginning.

MARKET SIZE IN 3 STEPS

Certainly, there are several ways to estimate your startup’s market size and you should look for the most reasonable methodology in your case. The most important is to work on some kind of logic. Here, we’ll base our logic on 3 well-known market concepts: Total Addressable Market (TAM), Served Available Market (SAM) and Target Market.*

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3 Key Financial Indicators That May Save Your Startup’s Life

Crijn Bouman, founder of Epyon Power, told me once:

We found out that the cash was running out too fast and as a typical technology startup, it takes a little longer to develop the product than anticipated, it takes a little bit more money than anticipated, the market is a little later.

Certainly, this is a very common situation, when you’re attempting to develop innovative products and services.

As a founder, you must pay special attention to the cash your startup has available now and in the near future. Once it’s a limited resource, it will be consumed while you are not able to generate enough revenue to offset the overall costs. And without money, your startup is over.

So, to be prepared for such challenge, I strongly recommend you to understand and keep in mind these 3 financial indicators: Cash Available, Cash Burn Rate and Cash Runway.

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XXII: Finding Traction in Virtual Reality and Artificial Intelligence Technologies – with Damien Mulhem [Ep#3]

In this episode, I interviewed Dam Mulhem, co-founder of XXII—a french startup that designs solutions based on Virtual Reality (VR), Augmented Reality (AR), Mixed Reality (MR) and Artificial Intelligence (AI). Dam brings to the conversation important elements that have helped XXII to get in the traction stage as: economies of scope, B2B vs. B2C, culture evolution and new platforms. On the other hand, there were significant challenges in the way too, as: finding the great use of VR and focusing team’s efforts on XXII’s priorities.

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