When growing your business, we focus on these areas –
Total Addressable Market
Determine the actual market you’ll be trying to enter. Ideally you’ll have unique offerings within a sizable total addressable market (TAM). Speak with potential customers you plan to sell to. Make sure you’ve done the right kind of market research.
Product/Service & Roadmap
Determine required product features that will make an impact. Develop a plan to test or beta test the MVP (Minimally Viable Product or Service) in the market.
Go to Market Strategies
Once you’ve successfully beta tested your product, determine what your go to market plan is. Things to consider: Should you introduce domestically in one region then expand? When and how and should you introduce your product or service internationally?
Strategy for Potential Exits
Figure out possible exits available to you. Speak with potential acquirers, including both strategic and financial buyers. Be sure to speak with investment banks who understand and specialize in your industry.