Measuring You Marketing Opportunity

Came across this really cool, yet super simple visual illustrating how to frame your market opportunity for start-ups and entrepreneurs.

http://steveblank.com/2011/03/08/a-new-way-to-teach-entrepreneurship-the-lean-launchpad-at-stanford-class-1/

Start with the total available market.

How many people would want/need your product or service?

How large would the market be in $ if every demand was met. What would that look like in terms of total number of product bought or services rendered?

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Next determine your maximum market share.

How many customers can use the product or service?

How many have the money to buy it?

How much can I possible produce?

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Now you can build a target market.

Who am I going to sell to first?

How will I let them know about me?

If I see everything possible to my target market how much would that be?

Sometimes it is the simplest visuals that mean the most.