How to Find Your Market Size When Nobody Publishes the Numbers
It is quite important to have information when you want to decide what job you want to do. You need statistics to know the market size. In some countries, a lot of information and statistics are available, and you can easily determine the market size accordingly.
The consumption rate is equal to the sum of production and import. You can first check the statistics given by the Customs in order to determine the import rate. Sometimes the market size can be found based on companies' financial statements. In developed countries, financial statements are published, although providing this information depends on the type of business.
The larger a business, the more public its usage and the easier its characterization. On the contrary, the smaller a business, the harder it is to know the market size, unless you think out of the box, act smartly and develop creative methods.
To identify a market's features, you do not have to find the information about that same market directly. Check the people who provide services to that market; you may know the market through them. You can also do this through syndicates and unions. For example, suppose a business's union has 10 thousand members. You can guess how many people are active in that business, because it has 10 thousand members in its union.
The high number of competitors in a business is not always bad. For example, one cannot give up the wish to open a restaurant simply because there are too many people in the restaurants' union. You must consider the market needs and the proportion of supply and demand.
Some websites sell information on market sizes, but you do not need to buy information. A great deal of it is available. For example, if you go to the US Customs and the Canada Border Services Agency, all the analyzed information is available. You just need to be able to find the methods of identifying the market size.
To gain tangible results out of the research you do, record the analysis results of each stage in a table. Such a table can hold the market size, the market status, the market history, the market future, the future influential factors, the market growth, and import and export. Using this table both in writing a business plan and in crafting other necessary items such as a marketing plan, you have the key results at your disposal and can easily make important decisions.
After the analysis, you may decide against starting a job. Or, on the contrary, you may find such a position in that business that you make others your partners, either because of the capital or the resources they can offer you. Consider these points as a part of your strategies to enter a market.