Open Source Startup

Unit 5: Identifying Your Market

Key Takeaways

• Understand how to scope and size your market
• Understand how to select your beachhead market
• Understand how to develop an end user/target customer profile
• Understand how to clearly define customer need
• Understand how to evaluate your competitive position
• Understand how to define MVP features

Readings

• Disciplined Entrepreneurship
• Step 1: Market Segmentation
• Step 2: Select a Beachhead Market
• Step 3: Build an End User Profile
• Step 11: Chart Your Competitive Position
• Lean Product Playbook
• Chapter 3: Determine Your Target Customer (Step 1)
• Chapter 4: Identify Underserved Customer Needs (Step 2)
• Chapter 5: Define Your Value Proposition (Step 3)
• Chapter 6: Specify Your Minimum Viable Product (MVP) Feature Set (Step 4)
• Startup Owner’s Manual
• Chapter 10: Develop Product and Company Positioning
• The Product Book
• Chapter 3: Creating an Opportunity Hypothesis
• Chapter 4: Validating Your Hypothesis
• Product Manager’s Desk Reference
• Opportunity Statement Template

Deliverables

• Scope and size the initial market for your startup
• Select the beachhead market for your startup
• Develop the end user/target customer profile for your startup
• Write out a clear definition of your startup’s customer need
• Write out your startup’s competitive position
• Define the features of your startup's MVP