mobile-apps, investors, angel-investors, web-appsI’m creating an application. Let’s say that in my target market there are 10 million potential users. I know that all of them reasonably can benefit from using the application but there’s no way to guarantee any minimum number of users. It’s a completely new product in the market, so there’s few “current interests” in the concept with which to base my argument. I have about a dozen responses from potential users but that’s not a big enough pool to determine an average.
My thoughts are that I could be ultra-conservative with my numbers. e.g. “even if we only get this many users, we can still reach this target.” but I don’t want to turn them off with small numbers. I also really don’t want to pitch the idea of high numbers and then get the question “What happens if we fund you and virtually no one utilizes this application?”
The rhetorical questions I’ve had before totally kill momentum during presentation so it’s important I hit the points that hold water and keep moving. Are confirmed interests going to be my best bet or is a relatively dense target market more viable?
I would suggest to say “10 million potential users” and follow it up with an explanation on how you can encourage these users to firm up interest in your application.
By saying a huge amount of potential users you can grab the attention and interest of your investors, explain also that these users are not sure to be attained and follow it up with the things you plan to do to reach your goal.
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