Some times it pays better to be the big fish in a small pond (find niche markets that you can dominate.) Be careful with the "we only need 1% of the market to

Some times it pays better to be the big fish in a small pond (find niche markets that you can dominate.) Be careful with the "we only need 1% of the market to make millions." You can fool yourself into thinking getting that 1% will be easy. Depending on the product, the sales channel is different. Focus on how many customers you can get to the top of your sales funnel. You loose a certain % of customers along the funnel and you end up with a certain number of paying customers. Even if the market is 5 million people, if you only get 100 in your sales funnel, then that is an issue. If you are going with Adwords, there are pretty standard conversion rates you can follow to figure out how many customers you need to look at your product in order to earn X dollars a month. If you have expensive product that requires a salesperson, then find out how many deals can get done in a day/month/year. Even if the market is big, but sales are slow, it doesn't matter in the end.