A Quick Guide to Market Sizing for Founders
While building a start-up, the compass that guides your every move is market sizing. It's the difference between wandering in the wilderness and forging a path to success.
For start-ups, the compass that guides every decision, every pivot, and every leap of faith is market sizing. It's the North Star that ensures founders embark on a journey with a clear understanding of their destination. Did you know that 42% of start-ups fail because there isn't a market need for their product? This is where market sizing steps in, arming founders with the knowledge they need to navigate through their journey of entrepreneurship.
In this quick guide, we're going to demystify the concept of market sizing and unravel the acronyms - SAM, TAM, SOM - that can spell the difference between soaring success and stumbling setbacks for your start-up. So, whether you're just sketching out your business plan or you're a seasoned entrepreneur looking to fine-tune your strategy, let's dive into the world of market sizing and chart a course for your start-up's success.
🌀 Today’s Issue at a Glance
What is Market Sizing?
TAM, SAM, SOM - Decoding the Acronyms
Calculating SAM, TAM, and SOM
Beyond TAM, SAM, SOM - Other Essential Concepts
Applying Market Sizing to Your Start-up
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