State how big your market is. There are two methods for estimating market size – top down and bottom up. The bottom up approach is more credible, therefore we suggest using that. First, figure out who buys products similar to yours. These people are your potential customers. If your product is novel, look for current solutions to your problem and determine who buys those. Then figure out how much your potential customers would be willing to pay for your product, i.e. the unit price. Last, multiply the number of potential customers by the unit price to estimate your total addressable market.6. How much progress have you made?