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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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If you have resolved to make your company more valuable this year, you may want to think hard about how your customers pay. If you have a transaction business model where customers pay once for what they buy, expect your company’s value to be a single-digit multiple of you...
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Some owners focus on growing their profits, while others are obsessed with sales goals. Have you ever considered making it your primary goal to set up your business so that it can thrive and grow without you?...
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Have you struggled to identify a recurring revenue model that will work in your business? If so, you’re not alone.  Most owners understand the benefits of recurring revenue, such as predictable cash flow and an increase in their company’s valuation, but struggle wit...
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Much is made of analyzing the personality traits of successful entrepreneurs. Some appear outgoing. Others are introverts. Some lean right, others left. Some are flashy. Others are monk-like with their money. Their diversity can lead one to the conclusion that there are no c...
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Repeat business drives the value of your company. There are two types of customers, which are sporadic customers and customers who buy regularly.  Turning regular customers into repeatable, predicable buyers increases revenue and profitability....
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