10 Ways to Evaluate a Market

10 Ways to Evaluate a Market

Scale your answer from 0-10

1)   Urgency

a)    0-10

2)   Market Size

a)    0-10

i)     Who buys it?

ii)    How big is the market?

3)   Principle Potential

a)    0-10

i)     Highest price for Solution

4)   Cost of Customer Acquisition

a)    0-10

i)     How much to generate a sale?

(1) Money

(2) Effort

5)   Cost of Delivery

a)    0-10

i)     Cost to

(1) Create

(2) Deliver

6)   Uniqueness of Offer

a)    0-10

i)     Chance of copycats

7)   Speed to Market

a)    0-10

i)     Speed to Sell

8)   Upfront Investment

a)    0-10

i)     Cost before the sell?

9)   Upsell Potential

a)    0-10

i)     Secondary offers

10)         Evergreen Potential

a)    0-10

i)     Additional Work to sustain?

 

50 or below-Tank it

50-75 (Purgatory) Plan accordingly

75 and above= Go for it

Benefits of Competition

No Risk because you know there is a market

Best way to observe your competitors is to

Understand there

Value

Attention

Pricing

Closing

Happiness

Issues

Needs being/not being met