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I outlined other extensions, but that is the very start of all marketing research. I don't see how you can possibly just launch into a project without having an

by tansey 16y ago

I outlined other extensions, but that is the very start of all marketing research. I don't see how you can possibly just launch into a project without having any clue of how much money there is to be made in the area. The approach above is important because you need to be able to estimate how much revenue you should expect at various levels of growth. I suppose for me it's about whether I just want to have faith that my product is viable because I would use it, or I want to have a ballpark estimate that tells me how much I can realistically expect to get out of the company. How much can someone make at selling online commerce software? Don't you think that's an important question to have some handle on?

irahul 16y ago
> but that is the very start of all marketing research. Call it marketing research, but I am just interested in the potential market. I am reasonably sure there are many people who want to sell things and there are many who already are trading online. For me, the crux is how do I attract people who need this service but aren't aware of it. Unfortunately, I don't know how to go about it. In other thread, it is suggested it's mainly trial and error and I go with talking to actual customers and figuring out why they aren't selling/buying online. Things would be easier if I figure out my niche market and there needs. I respectfully disagree with your number analysis. My analysis is going to be vague. I have calculated the initial development cost(which is just the cost of living of 2 partners; we are paying our own expenses, no overheads for the product) and the server cost for initial days. I have plans for bootstrapping. I am reasonably sure the number analysis or the focus group stuff never translates to real figures. Shopify is at 6000 which is far, far less than any number analysis will come up with. In short, I know my investment, I have a vague idea how much I am going to charge and how long it will take for me to break even. Other than this, the only research I will be putting on will be in finding a way to reach out to potential customers. > The approach above is important because you need to be able to estimate how much revenue you should expect at various levels of growth. I would say that sounds good in theory but never works in practice. Can you point out some evidence(anecdotal) that things worked out as per the estimates? I am talking about the revenue estimation. I think there isn't a way to actually, successfully predict it. You can make an educated guess, but that's that. > How much can someone make at selling online commerce software? I honestly think there isn't a correct answer to that question. And I am not selling commerce software, I am offering software as a service over the web.

by tansey 16y ago

irahul 16y ago

> but that is the very start of all marketing research. Call it marketing research, but I am just interested in the potential market. I am reasonably sure there are many people who want to sell things and there are many who already are trading online. For me, the crux is how do I attract people who need this service but aren't aware of it. Unfortunately, I don't know how to go about it. In other thread, it is suggested it's mainly trial and error and I go with talking to actual customers and figuring out why they aren't selling/buying online. Things would be easier if I figure out my niche market and there needs. I respectfully disagree with your number analysis. My analysis is going to be vague. I have calculated the initial development cost(which is just the cost of living of 2 partners; we are paying our own expenses, no overheads for the product) and the server cost for initial days. I have plans for bootstrapping. I am reasonably sure the number analysis or the focus group stuff never translates to real figures. Shopify is at 6000 which is far, far less than any number analysis will come up with. In short, I know my investment, I have a vague idea how much I am going to charge and how long it will take for me to break even. Other than this, the only research I will be putting on will be in finding a way to reach out to potential customers. > The approach above is important because you need to be able to estimate how much revenue you should expect at various levels of growth. I would say that sounds good in theory but never works in practice. Can you point out some evidence(anecdotal) that things worked out as per the estimates? I am talking about the revenue estimation. I think there isn't a way to actually, successfully predict it. You can make an educated guess, but that's that. > How much can someone make at selling online commerce software? I honestly think there isn't a correct answer to that question. And I am not selling commerce software, I am offering software as a service over the web.