Some websites you can use to find different industry data include: Use This Ecommerce Business Plan Template To Enter Your TAM, SAM, And SOMAn effective business model is paramount to profit creation.
Your business model is the framework of how you plan to capture a share of the market.
Correctly estimating your market size and how much market share you can corner is a key element in any ecommerce business plan.
There are three important elements in assessing market size: The total addressable market is the total revenue opportunity for your product or service.
While there are simple ecommerce businesses that rely on gimmicks, like Ship Your Enemies Glitter (which sold for $85,000 in 2015), the real opportunity for revenue is in solving other people’s problems or your own.
Lindsay Mc Cormick, founder of BITE Toothpaste Bits, wanted to solve a problem that directly affected her.
The serviceable available market is the market size that is geographically and/or politically available for you.
The serviceable obtainable market is the market size that your product can realistically capture.
You as the business sell directly to an individual consumer.
If you are selling a physical product, outline your product acquisition and delivery process.