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To truly gain investor attention, your target market must be sizable. In other words, there needs to be a lot of customers with a problem that is ready to pay for your solution.
I usually break the “target market” category into three pieces:
Available
The Available Market is anyone who could purchase the company’s product or service. Look for numbers in the billions to be indeed compelling.
Serviceable
The Serviceable Market is the sub-segment that would most likely be a strong candidate to purchase the company’s product or service. This number is usually in the millions of dollars.
Beachhead
And finally, there’s the Beachhead Market, the first set of customers the company will pursue. The company should list beachhead customers in the pipeline, showing market validation.
Conveying these three items in your pitch presentation will show an investor that the market cap is sizable, that many companies are willing to buy your product, and you have a solid go-to-market strategy.
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Hall T. Martin is the founder and CEO of the TEN Capital Network. TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group
