what is a market size

In a recent article on "Venture Beat", venture capitalists (aka institutional investors with a good chunk of money) discuss the things they have gotten sick of over the years when reading through presentation materials from companies who are in need of funding. Here are three things we can learn from their experience: 1- "Fancy" Sales And Marketing Strategies Are Overrated Unless you have a very clear and cool new idea of how to introduce your product to the market, don't spend too much time on figuring out "fancy" sales and marketing strategies, but rather focus on the next two things we'll discuss in this article (market size and user cases). Presenting sales and marketing strategies often includes presenting generic numbers, which show that similar companies or products have achieved past and current successes within your industry, and that applying a similar strategy will work for you. This doesn't always help, since your pr...

what is a market size ? To answer this question requires you to know your market size. I realized how quickly the market is growing and how truly small my market share is given that 234 million people age 13 and older are mobile subscribers according to a report released by comScore. What is even more astounding is in March of 2010 almost 64% of these users sent a text message to another phone. (I am not a text sender even though many of my colleagues are.) What this data suggests is savvy small business owners to single office/home office to sales professionals can no longer engage in Captain Wing It by spraying and praying their actions all over the place with the hope that something will stick. The reason is simple is because most of their competitors are doing the same thing with the same results. Your message is quickly being covered by someone else's message. Now is the time to stand out, to be the Red Jacket. To stand out does require not only a written action plan,...