1. As you are trying to determine your TAM, what are some specific steps you would take during the analysis of the data to ensure the integrity/accuracy of the data? Data accuracy (or lack thereof) can play a very large role in production scheduling, ad/marketing spend, initial hiring decisions, etc.
2. As you are determining the profile of the beachhead market, how would you eliminate biases from the process of creating that profile?
3. As part of Step 6, what are specific use cases that you can create for your product or service to increase its market life cycle? In other words, as the market matures, what would be some ways you can prevent the decline in market share of the product and create a new market life cycle without necessarily creating a new product from the ground up?
4. It’s easy to get “lost in the weeds” during the product spec process. You may understand the product in a way that may be difficult for your customer to understand. How would you convey the value of the product (to the customer) in a way such that the customer is very willing to pay the price you are asking?
5. Price is what you pay, value is what you get. What would be some specific ways in which you would convey the value proposition of your product to your target customer such that price objections are few and the conversion rate (from prospect to customer) is high?
6. What would be some creative ways in which you would target the decision maker (who actually makes the decision to buy your product or service), rather than spend time trying to work your way through layers of bureaucracy? In other words, how would you identify and target the decision maker to whom you would make your pitch?
7. How would you identify your core competency (or competencies) and improve upon it (them) to further insulate you from competition? Is this an ongoing process or a one time thing?
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