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In this tutorial, the host explains how new business owners can predict sales forecasts for their business ideas. He outlines three key steps to achieve this. Step one involves researching the industry average conversion rate, which indicates the percentage of potential customers who make a purchase. For instance, a 2% conversion rate means that out of 100 viewers of a sales video, 2 will buy. The video encourages viewers to find relevant data for their specific industry to aid in accurate forecasting. The host introduces himself as a wealth and life coach, promoting the channel's content aimed at helping viewers increase their income and succeed in business.