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Nailing your Market Slide
The traction slide is one that many founders dedicate loads of time to but always feel isn’t sufficient. The reality is that when you have strong metrics, traction is extremely easy to share because you have “traditional” traction. But if you don’t have that type of traction, building an impactful traction slide can be tricky.
Here is how to do it…
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How to nail your market slide:
Work from the bottom up, NOT the top down - The single biggest mistake that founders make on this slide is that they start by looking up the size of the market/industry and working backwards from there. This is the wrong way to do it. You need to start from the bottom up. So instead of saying your market is $1B and you’ll capture 10% for $100M, you need to say, our product is $10; we believe in 1 year we can sell 100k and in 10 years we can sell 10M for $100M. Work your way up, not down.
Forecast your growth - The market slide is an opportunity to separate your short-, medium-, and long-term audiences. A company like Facebook started with a few universities, then all universities, then all people. This means that their market slide would have shown the market while they targeted Ivy League schools, then all schools, then all people. This allows them to show investors the market size as they grow in a realistic way.
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