Market Sizing and Forecasting
For any business plan, two initial and important things are to determine the market size and business forecasting.
Proper market analysis and accurate forecasting are the keys to get success in business. Market size is defined by the number of potential buyers and/or sellers of a product or service. It helps a company to understand the acceptability or importance of a new product or service. Forecasting helps businesses in budgeting, planning, and future growth. Utilizations of capital in an efficient way is more delicate thing in new businesses.