Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Business plan - financial projections

Options
  • 29-01-2014 2:14am
    #1
    lego101
    Closed Accounts Posts: 61 ✭✭


    Hi, I'm trying to fill out a business plan for a new product so I can submit it to my local enterprise board. I'm stuck on how to predict my sales, I don't see this as making much sense as nobody can predict how many people would buy your product? and over estimating would just make it attractive so why not?

    any tips on this please!
    Ken.
    Tagged:


Comments

  • Options
    #2
    Axwell
    Moderators, Computer Games Moderators Posts: 10,462 Mod ✭✭✭✭Axwell


    Plenty of information online about sales forecasting. You are incorrect in saying no one can predict how many people would buy your product. You can always work out the potential market, the key is to be able to make those sales.

    Ideally look at a similar product being sold by a competitor and use that as a guide and as part of your market research. Estimate how many of your product you could sell in a day, that gives you a week, a month and then a year estimate. You need to look at factors such as the price, where you are based, the market for your product and your ability to supply it to help you estimate. But you should have already looked into all of that when preparing your business plan initially.

    At the end of the day you are forecasting sales, its an estimate. So as long as your method of estimating makes sense then the figures will be reasonable and you wont have any issues. Company X sells this many a year at this price, and I feel I can get Y % of the market.

    Obviously If you just pluck things out of thin air your figures look unrealistic. Just use common sense and be realistic and having a comparison for everything to back it up helps. For example I was applying before for funding from EI related to games development for mobile and tablet games. I could research the number of tablets and smartphones sold per year, the age of those using them, if they had disposable income to purchase games. I could look at other companies making similar games and get their monthly sales. So I could easily tell EI how many people I could possible sell to, the average price a similar game would go for and based on other companies sales project what I should be able to sell based on a similar performance.


  • Options
    #3
    lego101
    Closed Accounts Posts: 61 ✭✭lego101


    brilliant reply , thank you :)


Advertisement