Quickly project the viability of your idea without having to build a full-blown business case.
What is this for?
Want to quickly validate and check the viability of your product or service? The “ballpark figures (revenue) template” helps you:
- To make a quick first indication on the market size, revenue and profitability of your product based on guesstimates that you will refine along the way.
- To project the viability of your idea without having to build a full-blown business case.
Download this PDF and print it on an A3 or A2 sheet of paper. You can also draw the diagram on a sheet of paper if you can’t print.
Before completing the Ballpark Figures (revenue) template you should do some basic research. Remember the idea is to come up with an estimated guess of your revenue, not a full-blown financial projection so don’t spend more than 30 minutes on this.
Time to define our customer. Do we offer a service or product? Who will use or buy our offering? How many? Write the answers down in the first grid on the template.
How often is your offering sold? How often is your offering used? These questions are important to determine the frequency of usage of your product/service.
In this step, you will try to capture the potential of your product/service. How large is the part of the market that you will address?
What’s the pricing of your offering? Does your pricing capture the value of your product/service? What will you charge for your solution?
Now multiply all the previous variables and you will have your estimated revenue. Time to analyze, adapt and iterate.