Channel: Alanis Business Academy

Category: Education

Tags: serviceable area markettarget market. estimating a businesses revenue potentialevaluating opportunityserviceable addressable marketdetermining business market sizeshare of marketentrepreneurshiptotal addressable markettotal available marketmarket sizehow much money can i make

Description: What’s better than watching videos from Alanis Business Academy? Doing so with a delicious cup of freshly brewed premium coffee. Visit lannacoffeeco.com and get free shipping on your online order. 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.