The 10 Ways to Evaluate a Market is a checklist that’s helpful in identifying the overall attractiveness of a new market: urgency, market size, pricing potential, cost of customer acquisition, cost of value delivery, uniqueness of offer, speed to market, up-front investment, up-sell potential, and evergreen potential.

3. Lack of Research & Planning
Financial Mishaps
Undifferentiated Offer
Ineffective Marketing
Market Inadaptability
Poor Leadership

4. WHAT SHOULD I DO?

5. TenWaysTo
EvaluateAMarket
Business CreationSeries
Presentedby MarcNicholson

6. Isthepotentialmarketattractive?
Rate each of the ten factors on a
scale of 1 to 10, where 0 is
TERRIBLE and 10, FANTASTIC.
When in doubt, be conservative
with your estimate.

7. 1-10

8. Urgency
How badly do people want
or need this right now?
The more urgent, the better the price
offering.

9. MarketSize
How many people are
purchasing things like this?
Based from data, do we have a
demand?

10. PricingPotential
What is the highest price a typical
purchaser would be willing to spend
for a solution?
Is the effort worth it? Do we get the
mark-up we deserve?

11. CostofCustomer
Acquisition
How easy is it to acquire a new
customer? On average, how much will it
cost to generate a sale, both in money
and effort?
Is the advertising cost reasonable?

12. CostofValue
Delivery
How much would it cost to create
and deliver the value offered,
both in money and effort?
Do we need logistics help?

13. Uniqueness of
Offer
How unique is your offer versus
competing offerings in the market,
and how easy is it for potential
competitors to copy you?
Is your USP strong?

14. SpeedtoMarket
How soon can you create something
to sell?
Will the timeline work in alignment
with your plans and capital?

15. Up-front
Investment
How much will you have to invest
before you’re ready to sell?
Are you a lone-funder? Do you have
partners who can help?

16. UpsellPotential
Are there related secondary offers
that you could also present to
purchasing customers?
Are there sub-niches you can also tap
into if this is pursued?

17. EvergreenPotential
Once the initial offer has been
created, how much additional work
will you have to put into it in order to
continue selling?
Do you have the capacity & interest to
maintain processes?

18. PRACTICECASE
You are wanting to establish a farm
tourism business in Amadeo as
someone who has connections to
coffee plantations and an ongoing
degree in Agri-entrepreneurship.
Use the guide discussed to decide
whether you will push through with
the business.

20. Sooftenpeopleareworking hardat
thewrongthing. Workingontheright
thingisprobablymoreimportantthan
workinghard.
CatherineFake,CofounderofFlickrandhunch

21. References:
https://personalmba.com/10-ways-to-evaluate-a-market
https://jkcapital.com.ph/blog/why-small-businesses-fail-
and-how-to-prevent-it//
https://data.adb.org/dataset/2022-adb-asia-small-and-
medium-sized-enterprise-monitor-volume-1-country-and-
regional
https://www.statista.com/statistics/1271464/start-up-
failure-reasons/