One of the keys to a successful business lies in its market. While entrepreneurs may possess the needed skills to launch their business and execute their larger strategy, the business ultimately needs a collection of buyers who are both willing and able to make a purchase. That’s why before we launch our businesses, we want to evaluate the size of our market or how many potential customers we can reach. By going through this process we can determine the revenue and profit potential for an idea and whether those figures support our business model. This video is the first of a three-part series on evaluating marketing potential. To start, you’ll learn how thinking through your total addressable market, serviceable addressable market, and share of market can help you gain a more accurate understanding of the potential for your business.
entrepreneurship,market size,evaluating opportunity,how much money can i make,total addressable market,total available market,share of market,serviceable area market,serviceable addressable market,target market. estimating a businesses revenue potential,determining business market size,
One of the keys to a successful business lies in its market. While entrepreneurs may possess the needed skills to launch their business and execute their larger strategy, the business ultimately needs a collection of buyers who are both willing and able to make a purchase. That’s why before we launch our businesses, we want to evaluate the size of our market or how many potential customers we can reach. By going through this process we can determine the revenue and profit potential for an idea and whether those figures support our business model. This video is the first of a three-part series on evaluating marketing potential. To start, you’ll learn how thinking through your total addressable market, serviceable addressable market, and share of market can help you gain a more accurate understanding of the potential for your business.
0 Comments