Why Ecosystem Value Needs to be Part of Your TAM
Whether your company is just starting out or already a global enterprise, one of the most important numbers you need to measure is the total available market (TAM). Having an accurate read on your TAM is crucial to setting growth goals as well as concretely showing investors and stakeholders that your company is worth their resources.
Traditionally, TAM is known as the overall revenue opportunity available or foreseen for a specific product or service—with a key component of estimating the future expansion or size.
One way to better leverage your TAM and add better insight into future growth is to evaluate your ecosystem. Business ecosystems are a key strategy for accelerated growth. The IDC 2019 State of Ecosystem report supports this—businesses with an ecosystem model grow 50% faster.
I’ve learned how to measure and leverage Ecosystem Value to successfully define markets, approve capital requests, and close million-dollar contracts.
- Date - July 18, 2019