Activity

Market Evaluation

  • 15 - 30 Minutes

The purpose of this activity is to evaluate the market you’re trying to enter. There are many factors that determine a hot or cold market and it’s important to do your preliminary research to avoid wasted time and money. If you fail to plan, then plan to fail. Don’t rely on luck.

Rate each of the 10 factors below on a scale of 0 to 10, where zero is extremely unattractive and 10 is extremely attractive. When in doubt, be conservative in your estimate.

When you’re done with your assessment, add up the score. If the score is 50 or below, move onto another idea—there are better places to invest your energy and resources. If the score is 75 or above, you have a very promising idea—full speed ahead.

Anything between 50 and 75 has the potential to pay the bills, but won’t be a home run without a huge investment of energy and resources, so plan accordingly.

Things to think about:

  • How attractive is the market for your idea?
  • Are there other markets that may be more promising?
  • Can you alter the idea to appeal to a more attractive market?

For more explanation continue to the activity.

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