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This makes TAM a valuable tool in sizing up new features and products. In addition, TAM can attract prospective investors because it shows your full revenue potential, with research and calculations to back up the opportunity. Building products to meet all the needs of all people is not only hard, but it’s also expensive.
Create an ideal customer profile to target prospects who are mostly likely to spend their hard-earned money on your product or service. Consider how unique your product or service is. Niche businesses Instead of appealing to the mass market, a niche business caters to a smaller, more defined market.
Salespeople, especially newly hired ones, won’t have the same passion for or knowledge of the product as you do. The founder is uniquely positioned to connect with buyers Also, as a startup founder, you’re in the best position to reach out to prospects online or in person through your professional network.
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