You decide to startup to solve one of the problems Yay!
As you describe your prod, the 1st question is "What's your TAM?" & as you quickly multiply, you know it's a $300M problem, and the market will pay $50-$100M for your sw.
You can get to $30M, right!?
Let's do a IoT in manufacturing play, you decide. 10000 prospects, $1B TAM.
Hire more devs, sales people, build more of a platform, than a niche product. Marketing too, since this has to be a big bang launch!
18m later, very little as it turns out.
This is the story of "TAM too small" too often
Trying to be a BIG fish in a BIG pond, vs a big fish in a small pond
Founder can't gamble, they've only one shot at success
Differing risk appetites of VCs and founders cause the TAM chasm
Don't die jumping the TAM chasm!
Read medium.com/swlh/whats-my-… for more
Pick your market wisely, and don't fall into the TAM chasm!