Intro: Explore & Understand the Market
When you think about your next business idea, venture or product it is essential to understand current consumer trends and the market environment, get a clear picture of who your potential competitors and customers are and get a first idea how large your potential market could be.
However, it is also important not to get stuck in analysis paralysis (I also have to remind myself of that every day), for this reason it is essential to have a structured process and a clear timeline.
This is why we prepared a 5 day “Explore & Understand” sprint, where you will be guided every day through another focused work package.
- Day 1: Market Trend Analysis
- Day 2: Market Environment Analysis
- Day 3: Competitor Analysis
- Day 4: Customer Deep Dive
- Day 5: Market Sizing
In the process we also provide you with the right tools, templates and consolidated lists of resources that are relevant at each step of the way, so you can save time for finding them yourself.
So buckle up and get ready to hustle! 🚀🚀🚀
P.S. I will use the case of a 🍋food supplement venture, to give you examples throughout this business challenge toolkit.