A common item missing from most plans is a breakdown of the company’s TAM, SAM, and SOM in the marketing section of their plan. Wondering what these acronyms mean? Well, you’re not alone—many entrepreneurs are not familiar with these terms. Here’s a quick explanation of what they mean, followed by an example.

Managing a Business

The Importance of TAM, SAM, and SOM in Your Business Plan

A common item missing from most plans is a breakdown of the company’s TAM, SAM, and SOM in the marketing section of their plan. Wondering what these acronyms mean? Well, you’re not alone—many entrepreneurs are not familiar with these terms. Here’s a quick explanation of what they mean, followed by an example.

By Caroline Cummings |

Cash Flow 101: What Is Cash Flow?

Not paying attention to your cash flow? Even profitable companies can fail if they don't have a clear understanding of the cash flowing into and out of their businesses. Here are the cash flow basics, and what to watch out for.

By Noah Parsons |

I Just Started My Small Business—Do I Need Payroll Software?

Payday is typically a moment people look forward to. But for many small businesses and startups that are just getting started, it’s a huge source of stress and frustration. Why? Because payday means payroll—and payroll is complicated and takes time. Luckily, automating payroll makes things a whole lot easier.

By Jenna Lee |

6 Simple Tricks to Avoid Late Paying Customers

If your business is growing and you've made a ton of sales, it might look on paper like everything is great. But until those customers pay their invoices, you can’t use that revenue to pay your own bills. But what can you do to encourage your customers to pay faster? Start with these six simple tricks.

By Meredith Wood |

Resilience: The Antidote to Burnout for Entrepreneurs

You finally started your own business. Don’t let burnout snatch it away from you! Passion will get you far, but it does not prevent burnout. Here's how burnout can creep up on entrepreneurs, and 5 tactics to help you prevent it.

By Beth Kennedy |

Want to Start a Business? Hone Your Sales Skills

If you really want to succeed as an entrepreneur, you need to start learning the ins and outs of business. An important place to start is by building your sales skills. Here are the top sales skills you need as an entrepreneur.

By Mike Monroe |

Free Invoice Templates to Help You Get Paid Faster

Whether you’re a freelancer or running your own small business or startup, you’ve got to get paid—preferably on time. A simple, professional invoice can make all the difference. Here are some free invoice templates you can use to easily create your own invoices.

By Angelique O'Rourke |

How a Buyer (or User) Persona Can Improve Your Business

A buyer or user persona is a fictional character that represents a business’s customers or potential customers, based on what you know about their demographics, behaviors, and what motivates them. Here's why you need a buyer or user persona, and how to create one.

By Noah Parsons |

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A common item missing from most plans is a breakdown of the company’s TAM, SAM, and SOM in the marketing section of their plan. Wondering what these acronyms mean? Well, you’re not alone—many entrepreneurs are not familiar with these terms. Here’s a quick explanation of what they mean, followed by an example.