Greetings, with a friend of mine, we will be applying to a governmental program that financially assists young entrepreneurs to start their own startup company.
Our project is a form of product recommendation system where site owners embedd our system to their sites and we will be sharing the revenue of the advertisement with our users. We plan to go live after 6 months of software and business development concurrently. I am well aware this sounds like Google Adwords but it is actually different.
Both of us are computer scientists thus we have a rather weak financial background. For the product we want to develop, we have been asked to do a rough estimation of 2 years of annual revenue of the company. We are having really hard time to make such predictions.
How can we estimate the growth of site owners that embedd our system and the amount successful advertisement.
How can we estimate/guess the base users at the begining of the project once it goes live.
What percentage of the revenue should be used on the marketing of the system.
Is there any statistical data regarding a such system as ours, where we can use to do such calculations.
I will be grateful for any suggestion or any way to do such financial foresight for a brand new project.