First: Find the most desiring market (a customer that desires your offer) A desiring

Opportunity Exploitation Map market is a

1 2
desirable
© Nettra Pan, 2022

market (to a
Target a desiring founder)!
Create a desirable offer
market

Explore multiple *Evaluate then Focus (select the

Articulate your Refine your market choose the most most strategic*
Start here idea
idea opportunities attractive option entry point)
to you
Market 1
Segment 2a

*
Solution Market 2
Offer Customer Offer Offer TAM
Segment 2b Segment 2a
Problem Segment 2c
Market 3

Selected Initial target

You Your idea …evolving Market market market
(and your team) (with team inputs) opportunity set opportunity segment
https://www.flickr.com/photos/opengridscheduler/24248086419
Source: Marc Gruber‘s (2014) Opportunity Exploitation Map
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✉ nettra.pan@city.ac.uk
1
Later: build a venture around your offer
Opportunity Exploitation Map

1 2 3 Choosing a
© Nettra Pan, 2022

Target a desiring
Create a desirable offer strategic
market
start
Explore multiple *Evaluate then Focus (select the
Articulate your Refine your market choose the most most strategic*
Start here idea
idea opportunities attractive option entry point)
to you
Market 1
Segment 2a

*
Solution Market 2
Offer Customer Offer Offer Segment 2b Segment 2a
Problem Segment 2c
Market 3

Selected Initial target

You Your idea …evolving Market market market
(and your team) (with team inputs) opportunity set opportunity segment

Source: Marc Gruber‘s (2014) Opportunity Exploitation Map

@nettra
✉ nettra.pan@city.ac.uk
2
Even later: build a lasting company around your venture
Opportunity Exploitation Map

1 2 3 Choosing a 4
© Nettra Pan, 2022

Pursuing
Target a desiring
Create a desirable offer strategic success
market
start beyond survival
Explore multiple *Evaluate then Focus (select the Diversify
Articulate your Refine your market choose the most most strategic* (strategically)
Start here idea
idea opportunities attractive option entry point)
to you
2aa…
Market 1
2aa 2aa…
Segment 2a

*
Solution Market 2
Offer Customer Offer Offer Segment 2b Segment 2a 2ab 2ab…
Problem Segment 2c
Market 3

Selected Initial target Expansion and

You Your idea …evolving Market market market penetration
(and your team) (with team inputs) opportunity set opportunity segment targets

Source: Marc Gruber‘s (2014) Opportunity Exploitation Map

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✉ nettra.pan@city.ac.uk
3
 Initial target customer segment: critical market for new ventures
What is my market?

Focus first:
• Unlike large firms, entrepreneurs
typically only serve one segment
• Once found, this segment deserves
your full attention

Diversify later:
• New product lines and new markets
may be targeted later on

MAR 27, 2019 | Entrepreneurship & New Venture Strategy | Nettra.Pan@epfl.ch | @nettra Slide credit: EPFL, Shirah Foy (2015)