Publication number: ELQ-72023-1
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How To Create Market Sizing For Your Startup
This video will give you the tools to understand and analyse your business' market
In this video, Andrew demonstrates how you can market size properly for your business, establishing reasonable estimates of your business' potential market.This video will help you to establish your business' place in the market.
Andrew breaks down this video tutorial into three simple steps:
- What is Market Sizing?
- Methods for Creating Market Sizing
- For Capital and For Running
In the first step, Andrew gives a brief overview of what exactly market sizing is and why you need to perform it in your business. This will give you a simple understanding of how market sizing can work for your business.
He then goes on to show how you can find out the total market size for your business. Andrew offers two different methods of coming up with your business' market size. Andrew demonstrates how what he calls the "bottom up approach" can be effective in estimating an accurate market size. Andrew shows how you need to research different areas of your market in order to come up with an accurate market size.
Finally, Andrew shows exactly why market sizing is essential and how you can use it in your business planning. He suggests that even if you aren't seeking investment, market sizing is still incredibly useful.
4 mins 01
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