STEP 10: Select Market Stepping Stones

Climate and energy ventures need to identify a long-term target market opportunity that enables profitability and impact at scale, even if they don’t capture this opportunity until many years later. This gives the venture a north star that makes it easier to determine short- and medium-term next steps. Often, this determination happens before or at the same time as identifying an initial market. We can think of the venture’s long-term target as the “Big Prize.”

In many cases, entrepreneurs will identify this Big Prize prior to identifying an initial market entry point (known as a Beachhead Market). Once you have your eyes on the prize, you can work backwards to identify a pathway to getting there. The markets that you target along this pathway are your Market Stepping Stones, and the Beachhead Market is the first stepping stone on the path. Usually, it's one that entrepreneurs can reach with a relatively simple and quick-to-develop version of their solution. It also needs to be a market with established demand today, not just projected growth in the future.

The process of selecting your Market Stepping Stones forces you to think long-term while staying grounded in the present. You’ll analyze which markets are easiest to enter now, which ones will help you build credibility and resources later on, and how each step brings you closer to the greater impact you’re chasing. Your Market Stepping Stones should be a logical sequence that minimizes risk and maximizes growth.

By the end of Step 10, you’ll have a clear, actionable plan for how to grow your venture in stages, starting with a manageable Beachhead Market and expanding strategically. This roadmap is not only an important internal guide for your team but also an important external signal for investors and partners, showing them you’ve thought through the journey ahead.