How to Make a Pitch Deck for Investors Part 7 – 5 Places to Find Market Research for Your Market Slide | Ep. 116 | Business Podcast
Summary
Part 7 of our mini series on how to make a pitch deck for investors to raise money for your company in 13 slides.
In this episode we continue with your Market Opportunity slide and explain fives places you can look to find market analysis and research reports to put this slide together.
Best of all, these five places to find market research are free.
Use these resources and get your market opportunity analysis pitch deck slide written today!
What is this Perfecting Your Pitch Mini Series?
We’re perfecting your pitch so you have the very best chance to raise the money from investors to take your business to the next level.
If you want to raise or borrow money you need the right pitch deck. Do it wrong and it’s the difference between raising the money you need for your business and not raising any.
You’ll get it right by following this simple, proven, battle tested thirteen slide pitch deck outline.
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Hello friends. Welcome to the show. Today we continue our miniseries on how to build a pitch deck for investors so you can raise money for your company. Today we are doing an extra part on your slide five market opportunity and I am going to give you several ways and sites to check out to do your research so that you can get the data that you need for the slide so that you can build your market opportunity from the ground up and not the top down here we go.
Welcome to build a business success secrets. The only podcast that provides straight talk for entrepreneurs, whether you’re an entrepreneur starting with an idea or growing your business. This show is for you. We’ll teach you how to build a strong mindset, powerful body and profitable business so you can achieve success and here’s your host, Brendan. See White, I wanted to do a second part of our market opportunity slide because a lot of entrepreneurs get caught up in trying to figure out where they can find the data and I have five places to send you and ways to figure out what your market looks like.
Number one google search and google maps. Let me give you an example. Google search is really simple to use as I’m sure, you know, but what a lot of people don’t do is they don’t keep pulling the string, They don’t keep trying new searches When you do a search, look at the automatic fill in the search box things that come up when you start typing a search and look at those and that will start to provide you hints Of what other people search for because it may take a few tries, maybe even a dozen to get the right combination of key words and phrases to get to the data that you’re looking for. So in Google search really pull the strings on one of the links and keep your main tab open.
You probably have 50 of them open like me at the end. Eventually you can find a lot of good data on your market. Another one is google maps. And what I mean here is recently had a student who had a was a hairdresser and she was opening up a new salon and we were trying to figure out what the market was. And in a salon your real market is in your local area, probably within a 20 minute drive or 15 miles I would say would be the maximum making some of this up. But you have to make some assumptions.
And all we did at the end of the day is we went to google maps, we picked a address and then we said hair salons and they all came up, we started counting them. Then we figured out where they were. Then we could investigate what they did from there. We did all of the type of math that we did in the Italian restaurant example in the previous episode of this series. Another good place. Speaking of google maps is yelp yelp does reviews of all local businesses. So again you could use yelp.
Those are the top end search engines and the way to use them that I recommend number to do a census search. The U. S. Government keeps a ton of information just google us census statistics and it will bring you to a government site and they have all sorts of things broken down and the awesome thing They haven’t broken down by area. So now you can figure out demographics and household size and all of that sort of stuff. # three the U. S. Economic site, it is called the U. S. Bureau of Economic Analysis or B. E. A. And R. Us. Government keeps incredible statistics on the economy and all the segments of it and what people spend and how much they spend and how much an industry is worth, all for free.
You can check that out at B E. A dot gov again, it’s the Bureau of Economic Analysis U. S. Bureau of Economic Analysis B. E. A dot Gov. Number four industry associations and Industry reports industry associations are there to promote the industries that they represent. So for instance if you have a fishing tackle company you can go to the Sport Fishing Association of America and they put out an annual report and guess what? It’s free because they want to promote that industry to the general population.
And you can find these for almost anything. If you don’t know what the association is called, just Start Googling Association of Farmers Association of Mechanics Association of make it up dog food. I’m sure there’s all sorts of associations out there and they pull that money from everybody in that industry and build these reports so they can promote it and so they can educate the existing people in the industry of what’s happening don’t overlook industry associations. Their reports are incredible.
It’s one of the first places that I got data with my first company when I did the online fishing social networking and e commerce site is I went to the Sport Fishing Association of America and I found this gold mine. It was this whole report tens of thousands if not hundreds of $1000 worth of economic analysis. And then you can take that data and then you can leverage that and go to the census and you go to be a and now you’re starting to get some incredible market information. The fifth resource for you to figure out your market opportunity or market size is independent research reports. These reports can cost money, some of them are worth it.
But here’s a little hack that I have used and gotten a lot of reports for free. And what I do is I find that research report, they’ll usually give you an executive summary because they want to put a teaser out there. Otherwise people are going to pay $997 or some of these reports are $12,000. And they do take a ton of time what somebody does out there is they will get these reports and they will leak them and then you can find them on the internet but you’ve got to be able to get the right search terms or combination.
And what I do is I’ll get the report and then I’ll put in, let’s just use the um, on the fishing kick today. I don’t know why. Let’s say it’s the rod manufacturers Association industry report and that’s what it’s called. Well, I will put that in plus I will add pdf and that little thing of pdf. It will search through the internet and look for that report and more times than none, I find these reports and even if a report is a year or two old, it’s still relevant unless your industry is growing some crazy percent a year, which is possible in the tech space for sure.
But even a year or two you’re going to start to still have relevant data that can guide you into an analysis that gives you a good representation of what your market is. Find the industry report. You can do that by googling it and then just add pdf on the end of that search and see what comes up or power point presentation or Excel spreadsheet. But put that at the end and then your search will be narrowed into finding that and more times than not, I think you’ll discover that you can get some of these for free, quick review.
We have five resources for you to check out to get your market sizing information. One google google search, general google maps. And then I talked about yelp, which is a great place, Census Search or the Census Bureau U. S. Census Bureau. Just google us census data and it will take you to the site, the Bureau of Economic Analysis b E A and you can go there at B E a dot gov. Industry associations and their reports and Independent research reports, which we talked about on how to put in that little hack at the end so that you can have google find that PDF PowerPoint or Excel spreadsheet for you.
Put these resources to work and get your market opportunity slide built. Stay tuned for the next episode in our mini series of how to build a pitch deck for investors so you can raise money for your company when we tackle your business model slide Until then I’m rooting for your success. Thanks for being generous with your time and joining us for this episode of build a business success secrets. Before we go, let me ask you a quick question. Are you the type of person who wants to get 100 out of your time, talent and ideas?
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