Question
My software is a monthly subscription based service (cloud storage for photographers) but my market size is almost impossible to calculate. There are a reported 3.5 million photographers in the world but some speculate there can be up to 5x or more than that as most do photography part-time. Any suggestions on how to best present some top-down or bottom-up projections?
Answer
I've done many revenue projections for investors in my startups. As long as you have a methodology and rationalization for your projections you will be fine. So pick the more conservative number, assume a 5% market penetration, and explain what the numbers will look like.