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New Business Development: What are some resources for evaluating potential market size?
JB
JB
Joy Broto Nath , Global Corporate Trainer & Strategist answered:

There are so many resources just for identifying one attribute and enlisting all of them is difficult. Let us look at an example. The first one that you have mentioned is total addressable market. So, it is also known as the market size. Now to understand this one attribute alone you need to first define your target customer. Once you have done that, you must estimate the number of target customers, then determine your penetration rate and only then can you calculate the potential market size based on volume and value. My suggestion is try looking for mathematical formula instead of resources. For example, we will again go to market size. To calculate the market size the easiest formula is to count all the potential customers that would be a good fit for your business and multiply that number by the average annual revenue of these types of customers in your market.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath

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