On market size
And how to underscore the opportunity you're going after
The biggest challenge right now as we meet with many Seed companies building in vertical SaaS at Work-Bench is not the tech or even the early GTM... the tech is being built quickly and really we have been so impressed with the early contracts/LOIs signed by all out hustling founders 💪
The biggest challenge is likely demonstrating that your market is big enough to achieve venture scale returns (if you choose to go the venture funding route)
Here are a few things you might consider adding to your pitch that can help underscore the size of the opportunity you're going after:
▶️ "Our vision is to X" -> this is ideally a massive, ambitious 10 year vision illustrating significant enough adjacent surface areas to go after that are actually quite difficult and maybe not obvious
▶️ "We can increase ACV by..." -> even if your initial ACV may be small for now, you can and should be able to preview adjacent product lines, use cases, or different teams/users/segments to go after in both the short and long-term to increase total wallet share
▶️ "We are really feeling velocity and momentum because X" -> you are experiencing tailwinds by serving a fast-growing / changing market OR because you are dramatically rethinking customer acquisition in completely new / interesting way
▶️ "Unlike other companies that have come before us, we can now..." -> there is a compelling Why Now tied to your specific approach (ideally in addition to "because of AI" 🙃)
And for how you plan to get a big share of your market:
▶️ "We've been able to get to early customers because unlike other players in the space, we..." -> you have a unique differentiator to cut through noise / saturation / competition
▶️ "What you may think...but we actually have found..." -> counterintuitive a-ha that only you / your company has vs. rest of the field
If you’re a pre-seed founder with enterprise ambitions in SaaS or healthcare, we at Work-Bench would love to connect and nerd out on 0-1 GTM together.
Follow me on LinkedIn for more!