In this enlightening masterclass, we discuss the imperative of comprehending the dimensions of your market—specifically, the…
Total Available Market (TAM),
Serviceable Addressable Market (SAM), and
Serviceable Obtainable Market (SOM).
This training breaks down how navigating the vast waters of entrepreneurship without a clear "map" can lead to inefficiencies and missed opportunities, akin to sailing without a compass.
By employing the Size Your Market Maker(TM), we aspire to empower founders to articulate their business's potential and refine their strategic focus, thereby enhancing client service and operational effectiveness.
Through illustrative examples, such as Maven Clinic and Rent the Runway, we will demonstrate how defining these market segments not only clarifies your business's opportunities but also illuminates the path to sustainable growth.
Join us as we embark on this masterclass journey, transforming nebulous market concepts into actionable insights that will propel your venture forward with clarity and purpose!
Takeaways:
Understanding the total available market (TAM), serviceable addressable market (SAM), and serviceable obtainable market (SOM) is crucial for founders aiming to scale their business effectively and strategically.
Navigating the intricacies of market sizing without a clear map is akin to embarking on a journey without a compass, leading to potential misdirection and inefficiencies in resource allocation.
The Size Your Market Maker(TM) empowers entrepreneurs to not only delineate their market segments but also to craft actionable strategies that align their growth aspirations with realistic outcomes.
Regularly reviewing and updating your 4-Page Growth Plan(TM), which includes insights on TAM, SAM, and SOM, can greatly enhance your team's focus and overall strategic alignment in the pursuit of growth.
Chapters:
00:31 Navigating Market Opportunities
03:20 Understanding Market Dynamics: TAM, SAM, and SOM
10:31 Understanding Market Size: TAM, SAM, and SOM
25:56 Segmenting Your Total Addressable Market
30:12 Segmenting the Total Addressable Market by Occasion
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Coco Sellman, the host of the Force for Good Business Show, believes business is a force for good, especially with visionary women at the helm. With over 25 years of entrepreneurial experience, she has launched five companies and guided over 500 startups. As Founder & CEO of A Force for Good, Coco supports purpose-driven women founders in unlocking exponential growth and prosperity. Her recent venture, Allumé Home Care, reached eight-figure revenues and seven-figure profits in just four years before a successful eight-figure exit in 2024. A venture investor and board director, Coco’s book, *A Force for Good*, reveals a roadmap for women to lead high-impact, high-growth companies.
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