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don t let this be youRESEARCH

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M y Industries

Market Segment Character Reality

Local Content Guides Hip Journalists Hard to Expand

Services Strategic Consulting Polished Salesman Hard to Fund

Space Incentive Prizes Angry Scientists Hard to Execute

Enter p riseSoftware

Planning Pro Consultants Hard to Sell

Video Games Social Platform Artistic Engineers Hard to M ake

Entre p reneurs h ip Information Naïve Visionaries Hard to Succeed

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Goals of Research

Defend your decisions

Plan to succeed

Identify subtle opportunitiesAvoid deadly mistakes

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The Ride

The Journey

The Destination

Without research«

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Adeo s Pillars of Research

1. M arket Segment Definition ± Are you playing in the right field?

2. M arket Size Estimation ± Is this a lucrative game?

3. M arket Character Analysis ± Are these the teams that you want to play with?

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segment

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W hat M arket are You In?

Segmentation Exam p le 1 Exam p le 2 Exam p le 3

1. Market Retail Enterprise Software Education

2. Segment Discount Productivity Online Learning

3. Focus / Sector Online Coupons Project Planning M ath Games

QuestionsAre you in discount

retail or onlineretail?

Are you enterpriseor personal;

software or IT?

Are you ingames or

education?

D efining your market right shows you where to look for information

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You can not escapethe market

that you are in.

You look like this online

but act like this in the world

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size

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How Big is Your M arket?

Attributes Small Medium Large

Annual RevenueUnder $10 Bn(casual games)

$10 to $100 Bn(online CRM )

Over $100 Bn(newspapers)

Annual Growt h25%

Fast Growth5%

Limited Growth-10%

Shrinking Fast

Concentration M any SmallCompanies

Few M edium andM any SmallCompanies

M ostly LargeCompanies

Operating CluesCollaborative with

New Entrant toLearn & Succeed

Friendly with NewEntrant to Disrupt &

Be Acquired

Hostile with NewEntrant to be

Destroyed

M arket size and growth provide you with operating clues.

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Size W arnings

Small M arket with Little or No Growth

Large M arket Shrinking Rapidly

Heavy Concentration of Large Companies

Good markets create great companies

Bad markets kill good companies

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character

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W ho are the Players?

W ho are the market leaders ?W ho are the new entrants ?

W ho are the active investors ?W hat are recent investments ?W ho are the to p personalities ?

W hat are the media publications and blogs ?W hat are the major events and conferences ?

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Do you fit?

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secrets

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Tips

Your early assumptions are wrong

Naysayers are often right

Industry character matters significantlyW ithout competitors, there is no business