It turns out they've got to fish where the fish are.

Recently it has become very much in fashion to call women the emerging market of the emerging market.

By the way, what market type are you in?

Maybe I know a whole new market.

Another is where you take a segment or re segment an existing market.

This market is now estimated at over 800 million dollars annually.

Why? Because you've never asked the question what type of market am I in?

Now, it turns out that what the hockey stick really represents are startups in a new market.

We believe that the winds of change are here, and that we can do it.

By the way, this little bump in year one this represents the fallacy in new markets.

Because investors saw the potential for return at a time of slowing economic growth, and so they created financial products and financial innovation tailored to the emerging markets.

So, our sales curve in an existing market literally should be one of taking shares.

Those new model cars are on the market.

Is this new model available on the market?

You're going to another place. A nice new city built especially for prawns.

Xigi is a new community site that's built by the community,

Build run a special administrative zone.

And in fact they created an entirely new market that solved problems that customers didn't even imagine until they actually saw this new device.

Is this new model available on the market?

It turns out they've got to fish where the fish are.

The troll market! The troll market?

In this market?

As the real questions are, if they don't exist, how will they find out about you?

Philanthropy is the market for love.

We want to be careful about what our sales curve looks like.

If you're doing a clone market that is copying a US business model in a foreign country, that probably is the second closest to immediate profitability because you know the market exist that you just need to implement it in your local country.

Now what does that result in their valuation, or in terms of their market cap?

That one? Is that one the best?

So in summary, the questions you want to ask are how big can this be, how much of it can we get, what's the growth rate of the market, is the market itself declining or is it in flux or is it taking off? and most importantly here is talk to customers and the sales channel, and next important is you can get some pretty good market size estimates by competitive approximation if it's an existing or resegmented market, or even if we're going to clone a market outside the US.

But that's not true for Beethoven.

Maybe if I do it on a small amount,

(Laughter)

One of the things I just want to reemphasize because we mentioned it earlier is the difference between single sided markets and multi sided markets.

Trade companies aim at a new market in Asia.

So in a new market, one of the things you need to be thinking about is that, is there any possible way to move this curve in?

lifecycle adoption curve popularized by Geoff Moore in a book called Crossing the Chasm.

I mean, Adam Smith, already writing in the late 18th century, said,

So, the story that most people know is the story of free or open source software.

One is existing market.

Browse around and choose what you're drawn to.

She went to the market to buy fresh vegetables.

The stock market is often called a dangerous one.

It turns out that the type of market changes everything.

They say, that is unbelievably expensive.

They've got so much sunk in it that it's very difficult for them to spot emerging new markets.