Last week we delivered a feasibility study to a client and here is what we found for Client X:
â€¢Â Â Â Total Estimated Market â€“ $15M with a likelihood of getting about 10% of market share
â€¢Â Â Â Cost to get product to market = $1.5M plus 1-2 yrs of operating expenses
â€¢Â Â Â CONCLUSION = probable struggle to break-even and not a large enough market to pursue
What is our advice?
- Find out if there is a market – BEFORE you spend a lot of $$
- If you donâ€™t know what to do ask for help
- When you find there is little to no market â€“ KILL THE IDEA and move on