Identifying 'market white space' with investor David Teten - Technical.ly Brooklyn

Business

Oct. 7, 2014 7:37 am

Identifying ‘market white space’ with investor David Teten

Gaps in the market are opportunities. A VC who has backed a couple of Brooklyn firms offers his tips for finding them.
David Teten speaking at Techweek NYC 2014.

David Teten speaking at Techweek NYC 2014.

(Photo by Brady Dale)

A VC who’s invested in Dumbo’s HowAboutWe and Fort Greene’s Gigit says the key to investing is finding a place in the market where customer needs are going unmet.

ff Venture Capital’s David Teten gave a presentation on identifying “market white space” at Techweek New York 2014.

For example, Teten said, MMS gave people a way to share images quickly over mobile, but Snapchat gave people a way to share them for only a few seconds. Companies that successfully identify white spaces are quickly and widely imitated. That’s why at startup networking events you’ll here a lot of versions of “Airbnb, but for cameras” or “Uber, but for buses” or “Facebook, but for cats.” That kind of thing.

Teten is a big advocate of going deep with his research. He put a SlideShare up on his website and it’s embedded below. However, to whet your appetite for digging through the whole thing, here are some of the standout points he made during his talk:

  • Private information is more valuable than public information. If you’re basing a venture on things you know because you’ve worked in the industry or have friends who do or found some secret report from AT&T lying in a bar somewhere, that’s more likely to yield a strong company than basing it on info anybody can look up online.
  • Research beyond Google. There’s a lot of information that Google doesn’t index. Go to libraries and look through the subscription-based databases they have access to. Go straight to sites with documents, like Scribd and SlideShare and look there. Search Google Books.
  • Look at the websites of failures. If someone tried to solve the same problem unsuccessfully, their website is probably down; however, some part of it is very likely to be at Archive.org. Have a look. The idea might not have been what sunk them. You can also use this site to look at old versions of current websites.
  • Cash is a good market signal; venture capital is a lousy one. If you can run a crowdfunding campaign on it, that’s a great sign; if it’s getting invested in now, it’s probably not going to get invested in.
  • Help others so they’ll help you. Before asking anyone to talk to you, ask yourself what you can do for them first. If there’s some way for them to see how you can help their work, they will be more likely to help yours.

Check out the full SlideShare here:

Advertisement

[slideshare id=2695435&doc=market-research-teten-091210231809-phpapp01]

 

FYI: Teten can also do vertical pushups.

You must appreciate accurate, relevant and productive community journalism.  Support this sort of work from professional reporters with seasoned editors.  Become a Technical.ly member for $12 per month -30-
CONTRIBUTE TO THE
JOURNALISM FUND

Already a contributor? Sign in here
Connect with companies from the Technical.ly community
New call-to-action

Advertisement

5 pitches from the Made in NY Media Center program turning creatives into founders

How a biotech robotics startup founded in a community hackerspace by a leftist activist just raised $10 million

Funding news about Honcker

SPONSORED

Brooklyn

You can win up to $360,000 at the WeWork Creator Awards

Philadelphia, PA

Vistar Media

QA Engineer

Apply Now

Philadelphia, PA - Center City

Odessa

Business Architect

Apply Now

Philadelphia

Vistar Media

Sr. Software Engineer

Apply Now

Funding news about Barking Labs Corp.

Blockchain solutions for the refugee crisis

Notation Capital raises $27 million venture fund, dispenses with ‘pre-seed’ label

SPONSORED

Brooklyn

Explore how diverse teams build dynamic products with Dev Bootcamp

Philadelphia

Vistar Media

Front End Engineer

Apply Now

Philadelphia, PA

Vistar Media

Software Engineer

Apply Now

Sign-up for daily news updates from Technical.ly Brooklyn

Do NOT follow this link or you will be banned from the site!