MARKET SIZING
Investors do not want “everyone is my customer”. They want TAM, SAM and SOM.
Three circles, one idea
TAM
Total Addressable Market: everyone who could ever buy.
SAM
Serviceable Available Market: the part you can actually reach with your product and area.
SOM
Serviceable Obtainable Market: the share you can realistically win in the first years.
Example (illustration only)
A home bakery in Chennai: TAM is all cake buyers in India, SAM is buyers within delivery range of the kitchen, SOM is the few hundred loyal customers you can win this year.
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Also read: How to Write a Business Plan · Our books