STEP 2Select a Beachhead Market
In This Step, You Will:
- Analyze your top 4–10 market opportunities and choose one to pursue.
- Further segment that market to determine your Beachhead Market.
Selecting a Beachhead Market is part of the critical process of narrowing your focus and attention to one critical area of attack.
Why This Step, and Why Now?
It is crucial to start the process with a focus on a singular target customer. You do not have a lot of resources or time, so you must focus your efforts to gain early victories and then build off this progress. By choosing a well‐defined Beachhead Market, it will make all of the steps that follow much more efficient and effective because you will have great focus.
Let's Get Started
In Step 1, Market Segmentation, you built a matrix based on your PMR on your top 4–10 market segments. Now, select just one market opportunity from the matrix to pursue as your Beachhead Market; ignore the other markets.
Almost all first‐time entrepreneurs find that, ignoring market opportunities is difficult and even painful. They doggedly hold on to the idea that more markets increase their odds of success and that they are best off hedging their bets until one market takes off.
In fact, the opposite is true. Such thinking will decrease your ...