Total addressable market analysis – what does it mean for your plans To predict the number of future customers we use Total Addressable Market analysis, TAM. The technical term TAM refers to the number of possible customers and the number of products that they will buy as a whole. This is the full market. If you sell cars, everyone can…
How prices are perceived from seller and buyer
If you are a shop owner, you know people who complain about high prices and move on. Others pay voluntarely more. They are happy to have your product, and to thank and encourage you. In my price negotitations normally there is no result in half of the cases. The other side is not willing to pay what I want for…
Price Negotiations and Decision Tree
Going into price negotiations is difficult. What is the negotiation scope of the other side? How much bargaining power do both sides? What do I want? How to avoid getting lost in bargaining? After looking into auctions, where for psychological reasons it is difficult to make rational decisions, I look at the decision tree with estimated earnings and probabilities. Auctions…
Growth Hacking und Market Analytics
Who needs Growth Hacking? Usually start-ups. Survival and growth need exponential growth here. That could double weekly sales. Growth hacking also works for more traditional companies that can expand their production fast enough and still grow their market. Growth hackers are people who achieve such sales growth using methods that are not directly visible and easy to conceive for the…
Storytelling makes successfull
How do I find the right story for my product, how does my storytelling become a success? Products are enhanced with storytelling. I am looking for a 17 mm socket, which of the three available nuts or wrench sockets will I buy: Simple picture on blue background, price € 5.60, supplier unknown Same picture as 1., but additional information that…
Why we use Bitcoin for creating wealth, not for daily payments
Bitcoin is a freely tradable cryptocurrency. A currency needs security against unauthorized copying. With normal money this is done by the central bank and the state, with bitcoins with strong encryption and a publicly accessible database with 262 gigabytes of data in May 2020. There is a maximum of 21 million Bitcoin to be scraped. Currently there are 18.4 million.…
Food Truck – how to use it for making money
Business location for starters – the Problem We think there is a lot of money to be made with a mobile snack stand, a food truck and other sales vehicles. Additionally it is not only making money: it is fun to prepare and selling food and drinks. For example, independent sausage sellers in their food trucks and carriages on the…