As a venture firm, we want to see our portfolio companies go after big market opportunities by encouraging them to conduct experiments in order to figure out just how they can pursue those opportunities. The best way for them to assess any given situation is to do what’s called a “bottoms-up” market analysis, which requires putting in some hard, detailed thought about their ideal customers and their adjacent markets. Sometimes, however, founders might discover that they need to take a leap of faith when performing this analysis. Ulu Ventures Managing Director Clint Korver explains.
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