As the title says, I’ve been working with a couple partners on a new venture. I really enjoy working with them and they have really solid track records (successful exits in the past), but I’m not sold on the business case for what they want to do.
I’ve been trying to conduct my own market research and keep coming to the same problem that the TAM is kindof indetermined.
It’s one of those antiquated spaces that could use some automation, but it’s tough to know how big the space really is. There’s a couple competitors but they are relatively small (which doesn’t give me a lot of confidence in market size because they’re small and have been around for decades).
They both have a lot of confidence that the market is big enough to support the type of thing we want to do, but I can’t get there.
One of the partners is an industry expert and key influencer and has a lot of confidence in the size so I’ve been trying to just trust him, but am struggling.
Any advice on how to approach this? I’m hesitant to dive in because of this lack of confidence in the TAM but really want to work with these people.
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