Task: How do I make money?

Required Question

What are you selling? and How much are you selling it at?

The best best way to find out how much you should charge is studying your competitors, which you did you the last stage.


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What is the size of the market you want to capture?


What % of that market can you potentially get?


How many paying users is that per month?


How much revenue is that per month?

If the revenue is too low, lets go back to the drawing board and see if you can appeal to a bigger market. Perhaps you are being too conservative. However, most of the time we overestimate. If the number here is too low, it's possible this market or this problem is not a big enough problem to solve. It's not too late to go back to the drawing board.

However, if your service requires reaching a critical mass first, then maybe it's very hard to come up with a revenue analysis here. However, regardless, coming up with something is better than nothing.

Read here to find out figure out your pricing strategy.

Here are some tools to help you understand your market:

  1. Google Trends - This tool gives you the trend of a certain keyword.
  2. Google Insights - A page with all the tools to help you learn about your customers.
  3. Facebook ads - This is not a tool, but when you advertise with them, they will help you calculate the # of people from some of the search filter requirements you fill it. It looks through Facebook and tell you exactly how many users fit your description.