There’s more to describing your market to an investor audience than its size.

As discussed in the previous post, the issue of whether or not a large amount of money in the market is changing hands is more important than its raw size.

At least two other points deserve consideration:

• Is it a red ocean?  In case you’re not familiar with this term, please take a look at the Blue Ocean Strategy website, which has links to a bunch of materials from the group that thought this up.  A red ocean is an ocean red from the blood the many competitors are drawing from one another, with no one getting an advantage.  Sadly, many venture-funded markets today are red oceans for the simple reason that copycat investors fund multiple instances of the same company.
• Is it an Enthusiast, Early Adopter, or Early Majority market?  Or worse.  The basic text here is Geoffrey Moore’s “Crossing the Chasm” (website here).  Each kind of market values different things in an product or service, and mistaking one for the other can kill a venture.

That’s all for today.  Sorry for the rush.