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Total Addressable Market (TAM)

TAM is the total revenue opportunity if you captured 100% of your target market. It's a ceiling, not a target. Investors use it to gauge the size of the bet; founders use it to prioritize segments. The mistake most startups make: they cite a giant TAM to look impressive but can't explain how they'd actually get there. A credible TAM calculation is bottom-up, not top-down from a market research report.

Real-World Example

For example, if there are 50,000 mid-market software companies in North America and each pays $24K/year for your product, your TAM is $1.2B.

At Cactus

We help founders build bottom-up TAM models that hold up in investor meetings — not just cite Gartner reports.

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