Entrepreneurship · Market research

Affordable Ways to Research TAM, SAM, SOM?

Jenny Kwan Co-Founder and Technical Lead of Woodlamp Technologies

May 11th, 2018

There are loads of consultant research reports available for $5K for a single user license. Quite frankly, that's much better spent on seed to experiment, get to MVP, and get PMF.

What are ways to research TAM, SAM, and SOM that actually make sense for an angel-seeking startup?

(I'm launching Infallisys, which is building a platform-as-a-service for analytics and data science. It's a data team in a box, allowing SMBs seeking to be data driven to do so without hiring a single data engineer or data scientist, instead using the analytically oriented personnel already in-house. We avoid the staff spend and circumvent the impossibility of attracting that first senior data engineer. So I'm basically looking for the equivalent of the Gartner report for SMBs in the US by vertical, and how much they spend on BI, analytics, batch-based ML.)

Roger Brown International Business Leader, Technology, Oil and Gas

May 11th, 2018

Alyssa, There is a big market for what you are planning to do with Infallisys . Keep me posted on your progress. I am one person that is extremely tired of paying $5K for something that only gives me 40% of the answers that I need. Digging down to the SOM requires specific data crunching.

Rob Hirsch Traveler, nature lover, & entrepreneur

May 13th, 2018

Great question. When I did this, I got the numbers but never really bought into them, probably because I did it too early on.

I remember thinking, this is a pain in the ass and it shouldn't be. Hope it works out; I look forward to anything that simplifies the startup process.

Alexandre Azevedo Founder of The Traction Stage Blog & Podcast

Last updated on May 11th, 2018

Hi, Alyssa.

Congratulations for your idea! Let's democratize technology!

Regarding your dilemma, maybe you could count on some free (or less expensive) reports together with some assumptions (similar percentages, similar researches, similar markets) and assess that information during your product validation process.

For example, you could find a research of similar, but more niched market and adopt the percentages for the big market (of course, if that makes sense!). After that, you could ask some of your beta users or interviewees if that numbers make sense and why.

Best regards.