3. Validate market and product

Estimate total potential income
Income and Profit Exercise
: Consider:
  1. Make a calendar - when is your product or service needed? what will you do at other times
  2. How many people will buy your product or service
  3. How much will each person buy?
  4. How much will they pay and how often?
  5. How much will it cost you? Consider transport, your costs to buy, labor, storage, processing, losses, etc.,
  6. identify possible competition - and how they affect your business (e.g., extent and cost of service/product)