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Randomly multiplying a sample by an arbitrary "small" percentage is a terrible way of demonstrating profit potential. Unless you can demonstrate otherwise, the
by bmcleod 17y ago
Randomly multiplying a sample by an arbitrary "small" percentage is a terrible way of demonstrating profit potential.
Unless you can demonstrate otherwise, the correct calculation is:
$12 * 100,000 * percentage of people that are your mum = $0-$24
- nathanh 17y agoExactly. People only have to convince 0.0000000001% of a 6B person market to marry them, but it's still a hard thing to do.
- fizx 17y agoActually, I bet I could convince at least 1/100 of that group to marry me. It's the mutual compatibility that's the problem.
- staunch 17y agoYour comment can be boiled down to "You made a guess, and guesses are totally useless." Not very helpful.
- bmcleod 17y agoNot really, there's a very particular type of fallacy that is people sticking small seeming percentages on markets and then suggesting that that percentage is achievable profit. Unless you go completely viral it's going to be one sale at a time with no percentages in sight. Percentages would occasionally be an acceptable form of measurement when there is significant market research regarding a highly targetted group. A good way to work out if the members of that group would buy stickers is to ask 100 of them at random and see how the answers went. Then assume that a good portion of those were just saying yes and will not follow through. There's a significant benefit to saying yes in that you are more likely to gain the option of buying a sticker without necessarily having to buy one.