Everyone focuses on the Total Addressable Market (TAM), which gives an unrealistic expectation of your market size.
Instead SOM gives you a more practical estimate.
14 mental models that helped me build 10 startups and sell (a bunch of them) for millions.
Everyone focuses on the Total Addressable Market (TAM), which gives an unrealistic expectation of your market size.
Instead SOM gives you a more practical estimate.
Is the number of new users an average customer generates and a strong indicator of how highly your users like your product.
The higher your viral coefficient, the cheaper your acquisition costs.
The process of exposing your users to different versions of the product/ messaging to determine the most effective one.
All top companies do this on a regular basis.
The different stages that a buyer goes through before making a purchase.
Understanding what stage they're in helps you strategize your marketing accordingly.
A comprehensive step-by-step plan that companies deploy to bring a new product/ service into the market.
The basic version of your product with core functionality that's just enough to launch and gather feedback.
A measure of how much your product/ service is being used relative to the total market.
Eg: Netflix has a 21% share in the streaming services market in the US.
The activities that a user performs repeatedly while engaging with your app, reinforcing them to use it again, and again.
It comprises the different touchpoints that take a person from a complete stranger into a happy customer.
It measures how much a customer is worth relative to the cost of acquisition.
If it's less than 1, you're burning your cash by bringing in more customers.
The percentage of customers who cancel/quit your product relative to the total number of customers.
To increase LTV, you need to have a lower churn rate.
The gap that exists between a user's problem and the value delivered by the solution.
The higher the gap, the more you can charge.
Refers to the interaction that makes the users realize the value of the product or causes them to change their impression of the brand.
A plan designed to help owners/ shareholders sell their ownership partially/ completely.
14 mental models that helped me build 10 startups and sell (a bunch of them) for millions.
— Joe Speiser \u26a1\ufe0f (@jspeiser) October 24, 2022
More from Startup
>> How To Start a Lead Gen Agency <<
This step-by-step process will help you sign $5K - $20K clients in NO TIME.
Learn how to:
✅ Find Leads
✅ Book Meetings
✅ Sign Clients
✅ Scale Processes
// 𝐓𝐇𝐑𝐄𝐀𝐃 //
1/ Make sure you understand the lead gen process.
You NEED to know your shit before you pitch ANYTHING.
A few services you can offer to generate leads:
> Cold email
> LinkedIn outreach
> Facebook ads
> SEO
The list goes on.
Just perfect one of them & you’re SOLID.
2/ Find a niche to pitch your services to.
NICHE DOWN.
Use this doc to find an “untapped” niche:
https://t.co/aYptSNsZw6
I’d suggest choosing 1-3 to start with.
& focus ONLY on these.
3/ Find leads for outreach:
Sign up for a free @IcyLeads account at https://t.co/mz2kYnEko1 to find key decision-maker contact emails for outreach.
You can find emails from the list of niches provided above & filter out job titles such as:
> CEO
> Founder
> Marketing
Etc.
4/ Once you have a list of leads to pitch your services to:
It’s time to write your cold email outreach sequences.
Your cold emails should speak DIRECTLY to the prospect you’re reaching out to.
You can find some winning cold email templates
This step-by-step process will help you sign $5K - $20K clients in NO TIME.
Learn how to:
✅ Find Leads
✅ Book Meetings
✅ Sign Clients
✅ Scale Processes
// 𝐓𝐇𝐑𝐄𝐀𝐃 //
1/ Make sure you understand the lead gen process.
You NEED to know your shit before you pitch ANYTHING.
A few services you can offer to generate leads:
> Cold email
> LinkedIn outreach
> Facebook ads
> SEO
The list goes on.
Just perfect one of them & you’re SOLID.
2/ Find a niche to pitch your services to.
NICHE DOWN.
Use this doc to find an “untapped” niche:
https://t.co/aYptSNsZw6
I’d suggest choosing 1-3 to start with.
& focus ONLY on these.
3/ Find leads for outreach:
Sign up for a free @IcyLeads account at https://t.co/mz2kYnEko1 to find key decision-maker contact emails for outreach.
You can find emails from the list of niches provided above & filter out job titles such as:
> CEO
> Founder
> Marketing
Etc.
4/ Once you have a list of leads to pitch your services to:
It’s time to write your cold email outreach sequences.
Your cold emails should speak DIRECTLY to the prospect you’re reaching out to.
You can find some winning cold email templates
