3 Scales of Entrepreneurial Opportunities
Fundable by VCs and many Angels
Main Street Entrepreneurship (Small Business / Lifestyle)
Mighty Middle (Mid-Potential)
Venture Scale (Unicorn Potential; Extreme Scale)
Hundreds of thousands; Very low millions ($10^6)
A few million to tens of millions ($10^7~$10^8)
Hundreds of millions (>=$10^9)
Potential value in 5-10 years Addressable Market Size in 5-10 years (including growth)
Blue Pond (Small region, small niche)
Blue Lake (National, international niche)
Blue Ocean (Large national, international market)
•Differentiation within city / neighborhood •Relationships with customers
•National differentiation •Moderate fixed costs (product design / refinement) •Brand / reputation for quality •Moderate learning curves
•Network effects •High fixed costs (product design / refinement) •Strong Patents •Strong learning curves
Common Sources of Competitive Advantage
Fast (<1 year)
Moderate (1-2 years)
Slow (5+ years)
Speed to Financial Self Sufficiency
Note: Scale potential is based on a combination of addressable market size, sources of competitive advantage, and multiples. It is a judgment and may vary across evaluators, be imperfect, and evolve.
Potential for High Returns for Entrepreneur
mindframeconnect.com mindframeconnect.com
Globalive
Source: Ben Hallen and Ed Hallen, Re-Considering th e “Mighty Middle” of Entrepreneurship
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