Successful estimation starts with your belief system.
If you confidently believe you can estimate something, you can.
This course shares the secrets to building your self-confidence.
Precise estimation is a vital skill for business success, a skill this course will teach you.
Hiring managers want to know whether you have what it takes to estimate successfully.
Want to work for one of the best companies like Morgan Stanley, Amazon, Facebook, or even Google?
You MUST master the art and science of estimation to get that job!
Precise estimation skills are also crucial for entrepreneurs to master.
If you plan to launch a hot new product, then you need to know if it’s really hot BEFORE you invest your valuable time, effort, and money in it!
And it’s an absolute requirement if you’re looking for third party funding such as venture capital.
You’ll learn the basic rules for logical, professional and compelling estimation.
You’ll learn effective market sizing formulas and know how to answer strategic questions related to product launches.
You will also learn when to increase investment levels … and when NOT to increase them.
Corporate executives need this skill to make better decisions and get promoted faster.
The course is laid out to make it as easy as possible for you to master the skills of estimation.
Everything is explained very simply, and practical examples are given throughout the course.
You will be amazed at how quickly and easily you master this vital skill.
You’ll learn to assess industrial background, macro drivers, insights, and frameworks to solve any estimation problem.
Here are just a few of the real-world cases you’ll study in this course:
Enroll now and become an expert estimator faster than you thought was possible.
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Estimation or market sizing case is to figure out a quantitative variable relevant to the problem you are solving. This type of questions are challenging. They may be ambiguous, complex, and you’re supposed to present a solid answer with minimum information. However, this techniques are extremely important for lots of people in the business world.
In this section, I'll discuss a strategy to crack an estimation case.
Let’s solve the question I used as an example: "How many people wear blue in London on a typical Tuesday?
In this course, we’ll use Global Industry Classification Standard, also known as GICS, to define each sector and sub-sector. Global industry classification standard was established in 1999 by Standard & Poor’s and MSCI Barra. This new standard was to be used for categorizing companies into sectors and industries throughout the world. The demand for such a standard was driven by those in finance.
You'll find the full list of Global Industry Classification Standard
Energy is one of the ten sectors identified by GICS. Within Energy, GICS identifies two industries: “energy equipment and services” and “oil, gas, and consumable fuels”. Within each of those industries are various sub-industries such as equipment/service, exploration/production, drilling, refining/marketing, and coal/consumable fuels.
In this chapter, you'll find the general energy flow.
In our first case, we’ll calculate the minimum number of gas stations needed in Germany.
Lifeblood of every country oil has become the world's most critical source of energy since the mid-1950s. Its products underpin modern society, mainly offering energy to electrical power industry, heat homes and supply fuel for vehicles and aircraft to carry goods as well as people all over the world. And that’s main reason why we choose this estimation case for energy sector.
Even the simplest of consumer goods requires a complex process to get it to market - but it is not something many consumer think about.
Before the goods arrive at the retailer, manufacturers need to find and bring together the basic materials that are needed to execute the manufacturing of the product. Those materials do not come from thin air. Those basic materials have an entire industry focused on providing those basic materials for use in the products.
Manufacturers and distributors of capital goods compromise the Industrials Sector.
In this lecture, we’re going to choose a transportation sub-sector case study within industrials, we’ll estimate how many people fly in and out of O'Hare International Airport.
Due to its intensive use of infrastructures, the transport sector is a vital component of the economy and a common tool used for development. This is even more so in a global economic climate where economic opportunities have been more and more linked to the mobility of individuals, products and information. A relation between the quantity and quality of transport infrastructure and the degree of economic development is obvious. High density transport infrastructure and highly connected networks are commonly associated with high levels of development. When transport systems are efficient, they offer economic and social opportunities and benefits that lead to beneficial multipliers effects such as better accessibility to markets, work and other investments.
Consumer discretionary sector is focused on any consumer spending which is not essential to survival. Discretionary spending tends to grow and shrink with how well the economy is doing.
The case we would like to go is to estimate the ticket revenue of Barcelona FC generate in a single season.
Let’s move to another subsector of consumer discretionary – automobile. We’ll calculate the market value of BMW vehicles in Mongolia.
In this movie, we’re gonna estimate the market value of Luis Vuitton women bags and luggage in Shanghai in a year.
In this case, I’ll estimate high-end bespoke clothing market size for men in China per annum.
Publishing which means Publishers of newspapers, magazines and books, and providers of information in print or electronic formats is really interesting subsector within customer discretionary, because it's closer to our everyday life
In this case study, I’ll size men’s fashion magazine online market in US.
The consumer staples sector focuses on what consumers rely on for everyday necessities. These are things which the consumer needs to buy regardless of what is happening in the economy or with their personal finances. Stocks in this sector are seen as bringing stability to a portfolio and have potential for solid growth over a long period of time.
Consumer staples sector normally has the most standard estimation cases, the whole process should be quite straightforward, as the size of the market is most probably driven by demand.
This case could be a fairly easy, we’ll estimate the amount of Red Delicious apples sold in US each year. Red delicious apple is originally known as the Hawkeye, this can be the most popular, most maligned, most ironically named of all apple varieties in America.
The healthcare sector covers many industries, sub-industries, and a wide variety of companies. This sector includes any company which focuses on products and services that are related to health and medical care
In this case, we’ll guesstimate the market value for diabetes treatment in Canada. The reason why we pick and choose it as an example is that rising prevalence of diabetes is one of the serious healthcare concerns on a global level.
Personally, I think at the end of the day the only outcome that matters is whether or not the world is better off as a result of me having done the work, so healthcare is always one of my favorite sector, because it can make a long term impact to the world.
Those companies which provide services to commercial and retail customers are included in the Financials sector. Within the sector are many different types of firms, such as:
Insurance would be an interesting subsector in financials industry, because insurance company is quite closer to our lives, but people rarely understand how they make profits and what the size of the revenue would be like for insurer.
At its core, insurance is all about managing risk. Driving a car is risky. Most people do not have the funds to pay for vehicle damage and medical bills from a serious car accident. Insurance companies take on that risk and cover the customer’s expenses in the case of a covered event. In return, the insurance company collects a monthly premium from the customer. This money provides a pool of funds used to pay out customers and the customer gets peace of mind. This is ultimately the insurance company’s bread and butter: managing risk on behalf of their customer’s.
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