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As a business owner, your time is your most valuable asset. However, selling your time by billing clients hourly or daily can be a serious roadblock to growth. When customers rent your time instead of buying a result, your business model lacks leverage, making it difficult t...
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There is never enough money to invest in developing products when you’re running a self-funded business. When you’re running your company out of cash flow, most of your resources go into selling your existing products and services, leaving little left over to fund your n...
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Picture a magic slot machine. Each time you pull the arm, you make back a multiple of whatever you wagered. How much time would you devote to cranking that arm? When it comes to the value of your business, you can make many bets, but only one has a virtually guaranteed ...
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If your company becomes dependent on you, it may end up costing you down the road. The most valuable companies don’t rely on the owner’s involvement to succeed. However, finding extraordinary talent to replace yourself can be challenging....
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Many factors drive your company’s value, but perhaps the most important is how your business would perform without you. To get your company to flourish when you’re not around, you need owner-like effort from your team. Inspiring owner-like effort comes from cultivating ...
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TAM vs Target

October 18, 2022
As you enter the fourth quarter of the year, you may be starting to think about your marketing plans for 2023. Terms like Total Addressable Market (TAM) and Target Market may surface in your planning, and you could be tempted to use them interchangeably. However, your TAM a...
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Have you ever noticed that you get some of your best ideas in the shower? Every morning, you’re stuck there for a few minutes doing something you’ve done since you were a child. Your mind knows it has a couple of minutes to think. Employees get the same mental holid...
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Specializing in one product or service allows you to focus on delivering that thing better than everyone else. It enables you to hire (or train) specialists in your field, improving the quality of your work, which leads to happier customers. And satisfied customers buy again...
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Most company founders are good at the first stages of entrepreneurship. But in the phases that follow, they may only be average. Just because you have a knack for starting companies, doesn’t necessarily mean that those skills translate well into growing one. There are cele...
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If you’re trying to figure out what your business might be worth, it’s helpful to consider what acquirers are paying for companies like yours these days.  A little internet research will probably reveal that a business like yours trades for a multiple of your pre-ta...
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