Workshop 5

Business Strategy Simulator

Market Sizing · Positioning · Scenarios · Stress Test

Market Sizing — TAM / SAM / SOM

Build your market size from real customer counts, not research reports. Adjust the funnel to see what revenue opportunity is realistically available to your startup.

Segment Definition
500k
€228
SAM Filters
What % of total segment is in your target market?
15%
% who use digital tools & match your product requirements
60%
SOM — Your Capture
Realistic % of SAM you can win
3%
10%
TAM
SAM
SOM (3-yr target)
Market opportunity funnel
TAM — Total Addressable Market
All potential customers × ARPC
SAM — Serviceable Addressable Market
Your geography × tech-qualified filter
SOM — Your 3-Year Revenue Target
Your realistic market share
Revenue build — monthly progression to SOM over 36 months
Monthly revenue run-rate
SOM target
Calculating...
The Theory Behind Market Sizing

Market sizing is not about finding the biggest number — it is about proving you understand your customer. Investors do not fund markets; they fund founders who can explain precisely who will pay, how much, and why the number is credible. A €50B TAM impresses no one if the SOM is built on guesses.

Top-Down Approach
Start from the total market

Begin with an industry report (e.g. "the global CRM market is €50B") and apply filters to reach your slice. Fast to communicate, but easily manipulated — any filter assumption can make the number look good.

⚠ Risk: the "1% of China" trap — picking an enormous market and claiming a tiny share looks credible but proves nothing about how you will acquire customers.
Bottom-Up Approach
Build from real customer counts

Count identifiable, reachable customers and multiply by realistic revenue per customer. Harder to fake. Investors prefer this because it forces specificity: which companies, which segments, how do you reach them.

✓ Preferred by investors. This simulator uses the bottom-up method.
TAM — Total Addressable Market

Every possible customer for your category, worldwide, regardless of whether you could reach or serve them. Sets the theoretical ceiling. Formula: N customers × ARPC.

SAM — Serviceable Addressable Market

The subset of TAM you can realistically reach with your current product, geography, and go-to-market. Filtered by language, regulation, technical fit, and distribution channel.

SOM — Serviceable Obtainable Market

What you can actually win in the next 2–3 years given your team, budget, and competitive position. This is your real target. Investors look here. A credible SOM requires a specific acquisition plan, not just a percentage.

Red Flags That Kill Market Sizing Credibility
No source cited — "the market is €10B" with no reference
SOM = X% of TAM — percentage claims without a customer acquisition plan
TAM includes non-buyers — counting people who would never pay for your product
ARPC too high — assuming premium pricing before any customer validation
Market defined too broadly — "e-commerce" when you serve Lithuanian SMEs
No growth assumption justified — growth rates copied from industry averages
KEY QUESTION TO ASK YOURSELF
"If I had to name 50 specific customers right now — companies or people I know exist and could call tomorrow — would my SOM still hold?" If not, your SOM is too large.

Competitive Positioning Map

Rate yourself and up to 4 competitors on both axes using the +/− buttons. White space between clusters is your strategic opportunity.

Load a real industry map
Choose your positioning axes
Rate each player on both axes (1 = low · 10 = high)
Price (Low → High)
Player X score Y score Quadrant
Switch to the Competitive Map tab and move the dots to see your strategic interpretation here.
Porter's Generic Strategies — The Theory Behind the Map

Michael Porter argued that every sustainable competitive advantage falls into one of three strategies. Trying to be all three at once is a strategic trap — he called it "stuck in the middle". The positioning map helps you see which strategy you are actually pursuing, and whether your competitors are bunched together (an opportunity) or spread across different quadrants (a harder market).

Strategy 1
Cost Leadership

Be the lowest-cost producer in the market. Compete on price. Win through volume. Requires relentless operational efficiency.

On the map: bottom-left (low price, basic features)
Examples: Ryanair, Walmart, Wish
Strategy 2
Differentiation

Offer something customers value so highly they pay a premium. Could be brand, design, features, integration, or service. Requires deep customer knowledge.

On the map: top-right (high price, rich value)
Examples: Apple, Notion, Figma
Strategy 3
Focus / Niche

Serve a specific segment so well that no broad competitor can match you within that niche. Can combine with cost leadership or differentiation within the niche.

On the map: any quadrant — but serving a narrow slice
Examples: Basecamp (SMB only), Linear (dev teams)
The Danger Zone — Stuck in the Middle

Porter's most important warning: if you try to be everything — cheap AND premium AND for everyone — you end up with none of the advantages of any strategy. You are too expensive for cost-sensitive buyers and not differentiated enough for premium buyers. On the map, this appears as a dot hovering near the centre with no clear identity. The fix: make a deliberate choice and own it.

How to Read White Space on the Map

White space — a quadrant with no competitors — is not automatically an opportunity. Ask two questions before pursuing it:

Is white space an opportunity?

Yes — if customers exist in that quadrant but no product serves them. Competitors cluster together because they copy each other, leaving the outskirts under-served.

Is white space a warning?

Yes — if nobody is there because customers don't want that combination. High price + basic features is usually empty because nobody buys it, not because it's untapped.

Scenario Planning — Bear / Base / Bull

Model three futures for your startup over 18 months. Set different assumptions for each scenario and see the projected revenue paths side by side. The gap between scenarios reveals which assumption matters most.

Bear — Things go wrong
Base — Realistic plan
Bull — Things go right
Bear MRR at M18
Base MRR at M18
Bull MRR at M18
18-month MRR projection — all three scenarios
Bear
Base
Bull
Sensitivity — which assumption drives the biggest difference?
Calculating...
The Theory Behind Scenario Planning

Every business plan is a forecast — and every forecast is wrong. Scenario planning does not predict the future; it prepares you to respond to different versions of it. The discipline forces you to separate facts from assumptions and to identify which levers have the most leverage on your outcome.

Bear Case
What must you survive?

Not a disaster scenario — a plausible bad outcome. High churn, slow growth, price pressure. The bear case tests whether your unit economics still hold under pressure. If you cannot survive the bear, your model has a structural flaw.

Key check: can you reach break-even before cash runs out?
Base Case
What you actually plan for

Your operating plan. Should be grounded in proven acquisition channels and comparable benchmarks — not best-case assumptions rebranded as realistic. Most investors read the base case as an optimistic scenario; plan accordingly.

Key check: is every assumption validated or clearly flagged as a bet?
Bull Case
What you could achieve

A plausible upside — not a fantasy. Used to size the prize and set ambition. The gap between base and bull reveals what you need to unlock: a new channel, a viral loop, a partnership. If bull requires a miracle, it is not a scenario.

Key check: what specific thing needs to go right to reach this?
The Three Levers of SaaS Revenue
Price — the highest-leverage lever. A 10% price increase with 0% churn impact = 10% more revenue forever. Most founders underprice. Price anchors perceived value.
New customer growth — linear impact. Doubling new customers roughly doubles revenue, but requires doubling acquisition spend or building a viral/referral engine.
Churn — the most dangerous lever. 10% monthly churn means you lose your entire customer base every 10 months. Reducing churn from 5% to 3% has a massive compounding effect over 18 months.
MRR vs ARR — What the Numbers Mean
MRR (Monthly Recurring Revenue) — the operational heartbeat. Tracks growth month-to-month. MRR growth rate of 15–20% monthly is exceptional for early-stage; 5–10% is solid.
ARR (Annual Recurring Revenue) — MRR × 12. Used to value the company. SaaS companies are typically valued at 5–15× ARR depending on growth rate and churn.
Net MRR Growth = New MRR + Expansion MRR − Churned MRR. The goal: expansion revenue from existing customers eventually offsets churn — this is called negative churn.
THE SENSITIVITY INSIGHT
The sensitivity analysis above shows which variable — price, growth, or churn — swings your outcome the most. That variable is your biggest risk AND your biggest opportunity. Focus your early experiments on the highest-sensitivity lever. If churn dominates, fix retention before you scale acquisition. If price dominates, test willingness to pay before you discount.

Strategy Stress Test

Flip your key strategic assumptions one at a time. See how each pivot changes the revenue outcome, time-to-first-revenue, and overall strategic viability. Use this to identify which assumptions must hold for your model to work.

The Theory Behind Strategy Stress Testing

Every business model rests on a stack of assumptions. Most founders present their model as if the assumptions are facts. Stress testing does the opposite: it treats every assumption as a hypothesis, then asks "what happens to the business if this is wrong?" The assumptions that break the model are the ones that deserve the most urgent validation.

The Assumption Hierarchy
FATAL
Demand assumptions — do enough customers have this problem badly enough to pay? If wrong, the business cannot exist.
CRITICAL
Pricing assumptions — will customers pay this price point, and will it hold? Pricing errors can be corrected but require painful renegotiations.
MAJOR
Acquisition assumptions — can you reach these customers at an acceptable cost? CAC surprises kill more startups than any other single factor after product-market fit.
MODERATE
Retention assumptions — will customers stay? High churn signals a product-market fit gap, not a marketing problem.
Unit Economics — The Foundation
LTV (Lifetime Value) — average revenue generated by one customer over their entire relationship. Formula: ARPC ÷ Churn rate. If churn is 5%/month, average lifetime is 20 months.
CAC (Customer Acquisition Cost) — total sales & marketing spend ÷ new customers acquired. Includes salaries, ads, events, and tools.
LTV:CAC ratio — the key health metric. Below 1:1 = you lose money on every customer. Above 3:1 = healthy. Above 5:1 = you may be underinvesting in growth.
CAC Payback Period — months to recover acquisition cost. Under 12 months = healthy for SMB. Under 18 months = acceptable for enterprise.
🔁 B2B SaaS Benchmarks
  • Monthly churn: 1–3% healthy, >5% danger
  • LTV:CAC ratio: >3× healthy
  • CAC payback: <12 months
  • MRR growth: 10–20%/month (early stage)
  • Gross margin: >70% for software
🛒 Marketplace / E-commerce Benchmarks
  • Take rate: 10–30% of transaction value
  • Repeat purchase rate: >30% (healthy)
  • CAC:LTV ratio: <1:3
  • Gross margin: 30–60% (lower than SaaS)
  • Contribution margin: target positive by M18
🏢 Enterprise / Consulting Benchmarks
  • Sales cycle: 3–12 months (plan for it)
  • Contract size: €10k–€500k/yr
  • Churn: <10% annual (much lower monthly)
  • Expansion revenue: critical to model
  • Gross margin: 40–70% including services
The 10 Most Common Fatal Assumptions in Startup Models
1. "Customers will pay once they see the product" — they need to see value, not features.
2. "Churn is low because we haven't launched" — free users leave at high rates when billing starts.
3. "Our CAC will drop as we scale" — it often rises as easy channels saturate.
4. "Word of mouth will drive growth" — viral growth requires deliberate engineering, not hope.
5. "10% conversion from free to paid is conservative" — 2–5% is typical; 10% is exceptional.
6. "Enterprise deals close in 3 months" — 6–18 months is standard; budget cycles are annual.
7. "Gross margin stays constant at scale" — infrastructure and support costs often grow faster than revenue.
8. "We can raise prices later" — early pricing anchors the market; moving up requires strong justification.
9. "Competitors won't respond" — incumbents can copy features fast once they see traction.
10. "The team can execute the plan as written" — hiring, culture, and coordination are underestimated execution risks.
THE FALSIFIABILITY TEST
For every key assumption in your model, ask: "What experiment would prove this assumption wrong within 30 days?" If you cannot design that experiment, you do not have a testable assumption — you have a belief. Good founders run the cheapest possible test of their most dangerous assumption first, before building anything else.

Glossary — Key Abbreviations & Terms

A quick-reference guide to every abbreviation and concept used in this simulator. Keep this tab open while working through the other modules.

Revenue & Market Metrics
TAM — Total Addressable Market
The total revenue opportunity if your product captured 100% of the market — every possible customer worldwide, regardless of geography or feasibility. Formula: N customers × ARPC.
SAM — Serviceable Addressable Market
The portion of TAM you can realistically target with your current product, geography, language, and distribution channel. Filtered by tech readiness and fit.
SOM — Serviceable Obtainable Market
The realistic revenue you can capture within 2–3 years, given your team size, budget, and competitive position. Your actual operating target. Must be backed by a specific acquisition plan.
MRR — Monthly Recurring Revenue
Predictable monthly revenue from active subscriptions or contracts. The core health metric for subscription businesses. Tracks growth, expansion, and churn in real time.
ARR — Annual Recurring Revenue
MRR × 12. Used for company valuation, investor reporting, and benchmarking. Early-stage SaaS companies typically valued at 5–15× ARR depending on growth rate.
ARPC — Annual Revenue Per Customer
Total annual revenue divided by total number of customers. Used to calculate TAM and LTV. Also called ARPU (per user) or ACV (Annual Contract Value) in enterprise contexts.
Unit Economics
LTV — Lifetime Value (also CLV)
Total revenue generated by one customer over their entire relationship with your business. Formula: ARPC ÷ annual churn rate. If monthly churn is 5%, average lifetime is 20 months.
CAC — Customer Acquisition Cost
Total sales & marketing spend divided by new customers acquired in the same period. Includes salaries, ads, events, tools, and commissions. The most commonly underestimated startup cost.
LTV:CAC — Lifetime Value to CAC Ratio
The fundamental unit economics health check. Below 1:1 = you lose money on every customer. 3:1 = healthy baseline. Above 5:1 = possible underinvestment in growth. Benchmark: aim for >3×.
CAC Payback Period
Months required to recover the cost of acquiring a customer from their gross margin contribution. Formula: CAC ÷ (ARPC/12 × gross margin %). Target: <12 months (SMB), <18 months (enterprise).
Gross Margin
Revenue minus cost of goods sold (COGS), expressed as a percentage. Software: 70–90%. Marketplace: 30–60%. The higher the gross margin, the more each additional euro of revenue contributes to covering fixed costs.
Churn Rate
Percentage of customers (or revenue) lost in a given period. Monthly churn of 2% = annual churn of ~22%. Revenue churn can be "negative" if expansion revenue exceeds lost revenue — the most powerful SaaS growth signal.
Strategy & Positioning
PMF — Product-Market Fit
The degree to which your product satisfies strong market demand. Marc Andreessen: "the only thing that matters." Signs of PMF: organic growth, low churn, customers willing to pay more, NPS >50.
GTM — Go-to-Market Strategy
The plan for how you reach and convert customers: channels (direct, partner, self-serve, outbound), pricing strategy, positioning, and sales motion. GTM failure kills more startups than bad products.
USP — Unique Selling Proposition
The specific benefit that makes your product different and better than alternatives. A real USP is provable, relevant to the buyer, and hard to copy quickly. "Better UX" is not a USP; "processes invoices in 3 clicks vs. 47" is.
WTP — Willingness to Pay
The maximum price a customer will accept before switching to an alternative. Determined by perceived value, alternatives, urgency, and switching costs — not by your costs. Price up to WTP, not down to cost + margin.
Moat — Competitive Advantage / Barrier to Entry
A durable structural advantage that protects your market position. Types: network effects, switching costs, proprietary data, regulatory licences, brand, cost advantages. Features are not a moat — they can be copied in weeks.
NPS — Net Promoter Score
Survey-based metric: "How likely are you to recommend us?" Promoters (9–10) minus Detractors (0–6). Scale: −100 to +100. Above 50 = excellent. Strongly correlated with organic growth and low churn.
Business Models & Structures
SaaS — Software as a Service
Cloud-delivered software charged via subscription. Key advantages: recurring revenue, low distribution cost, scalable. Key risks: churn, high early CAC, price anchoring. Examples: Slack, Notion, HubSpot.
B2B — Business to Business
Selling to companies rather than individuals. Longer sales cycles, higher contract values, procurement processes, and multiple stakeholders. Churn is lower; acquiring each customer is harder and more expensive.
B2C — Business to Consumer
Selling directly to individuals. High volume, lower price points, faster decisions. More vulnerable to churn and price sensitivity. Requires strong brand, viral loops, or paid acquisition at scale.
SMB — Small & Medium Business
Companies with typically 10–250 employees. Between B2C (volume) and Enterprise (value). Often self-serve or low-touch sales. Higher churn than enterprise but shorter sales cycles and faster revenue.
MVP — Minimum Viable Product
The smallest version of a product that delivers enough value to test with real customers and begin learning. Eric Ries (Lean Startup): the goal is to test the riskiest assumption with the least effort, not to ship the minimum quality product.
ROI — Return on Investment
Gain from an investment divided by its cost, expressed as a percentage. In a B2B context, your customer's ROI from using your product is often the most powerful sales argument. Formula: (Gain − Cost) ÷ Cost × 100%.
Quick-Reference Cheat Sheet
TAM
Total Addressable Market
SAM
Serviceable Addressable Market
SOM
Serviceable Obtainable Market
MRR
Monthly Recurring Revenue
ARR
Annual Recurring Revenue
ARPC
Annual Revenue Per Customer
LTV
Lifetime Value
CAC
Customer Acquisition Cost
PMF
Product-Market Fit
GTM
Go-to-Market Strategy
USP
Unique Selling Proposition
WTP
Willingness to Pay
NPS
Net Promoter Score
MVP
Minimum Viable Product
ROI
Return on Investment
SaaS / B2B / B2C / SMB
Business model types