A Quote by Jay Samit
Many first-time founders fail to understand the difference between the potential of the Total Addressable Market (TAM) and the very finite subsection they can hope to capture. No company ever captures the entire market they pioneer. Innovation doesn't happen in a vacuum, and others will jump in from the moment you've identified the potential.
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From the very first inkling of a concept, founders need to gather a target group of five to ten potential users to begin the feedback loop. We all think we know how the market will react to new ideas, but actual users live with the pros and cons of the existing market conditions every day. They are the market experts.
A startup job is an investment, after all: Venture capitalists may wager money, but you're staking something more precious - your time. And unlike VCs, you can't spread your risk by betting on a bunch of companies at once. Start with TAM. That's 'total addressable market,' and if it's not big enough, there's no point in talking.
I think innovation as a discipline needs to go back and get rethought and revived. There are so many models to talk about innovation, there are so many typologies of innovation, and you have to find a good innovation metric that truly captures the innovation performance of a company.
With its population making up one fifth of the world's total, China offers a market with enormous potential.
No one cares how valuable your product is if its addressable market is small. The key isn't so much the number of users as it is the dollar size of the market.
There's a very distinct difference between a really wonderful DIY label and a soft drink company, or a car company, or a clothing brand, and you will always understand that difference.
Are you living up to your potential? God made you with potential - potential for greatness! If you do what you can do, and trust Him to do what you can't, you will grow into the person He gave you the potential to be!
It took the United States until 1920 to give women the franchise and another 40 or 50 years to start utilizing women's potential. How many women of incredible potential did we fail and what achievements were lost to all because we never tapped that potential?
There are some people in your life who bring back old memories. And there are others - your first kiss, your first love, your first sex - who, the moment you see them, bring a spark...and something far more potent. They bring back your old life and with that, potential. And possibilities. And the feeling that if you were back in that time, life could be so very different from where you're stuck right now. That's the most tantalizing thing....I want my potential back.
As Americans, we should all be concerned by the potential for any company beholden to a foreign government - especially one that doesn't share our values - to burrow into the American telecommunications market.
It is impossible to understand the financial health of big financial institutions and their potential impact on the market. They don't even understand it themselves.
The difference between Libertarian and Conservative is that Conservatives understand this, and know that unregulated capitalism will eventually end with human meat sold in market places, and slavery. Alas, many Conservatives think that everything has to be regulated and controlled.
There is a complete difference between art and the art market. Prices are high now for the simple reason that there are people are willing to pay them. The market dominates the art world today because at the moment collectors call the shots. Like everything else that won't last forever.
By elevating the dictum of the market to the role of the sole criterion of rationality and efficiency, economics denies even all "respectability" to the distinction between essential and non-essential consumption, between productive and unproductive labor, between actual and potential surplus.
We are, in a certain way, defined as much by our potential as by its expression. There is a great difference between an acorn and a little bit of wood carved into an acorn shape, a difference not always readily apparent to the naked eye. The difference is there even if the acorn never has the opportunity to plant itself and become an oak. Remembering its potential changes the way in which we think of the acorn and react to it. How we value it. If an acorn were conscious, knowing its potential would change the way that it might think and feel about itself.
Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier.
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