The Market Opportunity Navigator is designed to help you get a clear overview of your potential market domains and make confident decisions on where to play next.
To set a promising business strategy, you need to discover your available market opportunities, assess their attractiveness and choose which ones to focus on.
The Market Opportunity Navigator guides you through this 3 step process with a visual, easy to apply framework.
Three dedicated worksheets help you to ask the right questions and make your best choices apparent.
Your core abilities or technologies can create different offerings for different types of customers. Uncovering your landscape of opportunities is challenging but crucial.
A varied set of market opportunities is an asset in and of itself, as it increases your chances of focusing on the most promising option. It also provides the basis for plan-B, if required, and for unlocking new growth opportunities over time.
Market opportunities can vastly differ in their attractiveness. Yet evaluating and comparing options is often an overwhelming task, with the need to generate one clear pattern from endless bits of information.
A systematic evaluation process makes sure that you haven’t forgotten any key consideration, and allows you to visually map your options and compare them. It provides the basis for team discussions so that you are less susceptible to biases and intuition.
Market choice requires commitment which may lock you in. Yet playing in an uncertain world demands flexibility to make sure you can pivot and adapt over time. Balancing this delicate tension between focus and flexibility is challenging, especially for resource-scarce ventures.
By consciously keeping related options open, you can mitigate your risk and avoid a potentially fatal lock-in. This Agile Focus Strategy helps you to bake agility into the DNA of your venture, and has significant implications for how you build and design your company.
These tools tell you how to rapidly find product/market fit inside a market, and how to pivot when your hypotheses are incorrect. However, they don’t help you figure out where to start the search for your new business.
This is exactly why the Navigator is a key addition. It provides a wide-lens perspective to find different potential market domains for your innovation, before you zoom in and design the business model or test your minimal viable products. This framework can act as the front-end of Customer Development. It helps figure out the most promising starting position – market domain – for your customer development process and figure out where to play before zooming in on how to play.