Welcome to the Thunder Founder Newsletter issue #3!
You can expect us to share a new topic every week relevant to scaling your company and successfully fundraising!
We have discussed fundraising and investor updates in the last couple of weeks. One metric that falls in between those two topics is market size! You need to understand your market size and how to address that market before and after you raise your round.
But how do you research your market? What is TAM? What is SOM?
Investors want to see that you have done your market research. They will look for calculations such as Total Addressable Market (TAM) and Serviceable Obtainable Market (SOM) in your deck. You will also need to apply these calculations when you are ready to create and capitalize on your go-to-market strategy.
Below are a few articles and explanations about determining your market size. These articles will explain market size and how to calculate TAM and SOM that you can apply to your deck and investor meetings
What the Experts Have to Say
How To Effectively Determine Your Market Size.
This article gives a good review of what market size is, and how to determine market size and TAM. This author gives a good explanation of why you need this information and how to apply it to your business plan. Read more
How to Measure and Target Your Startup's Market.
This article gives an in-depth look at how to measure market size using TAM, SOM, and SAM. The author does not stop there after calculating those metrics. They explain how to use those metrics to determine your company approach and compare your market with the competition. Read more
What is market size and why is it important?
This article gives another good perspective on market size and how to determine it. The author focuses on how to measure and obtain the serviceable obtainable market (SOM). Read more
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Written by Jason Kirby - https://www.linkedin.com/in/jasonrkirby
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