💎 TODAY'S JEWEL: The REAL Secret to Building Wealth - Know Your Customer's TRUE Value 💎
Family.. I hope everyone had a good weekend.. I actually had a pretty laid back weekend. My son Kash had a football scrimmage and other than coming to the Gym and batting cages with Ty it was pretty laid back.. Oh yea I took Nola to Herman Park yesterday evening too.... but let's hop in - I'm about to drop some knowledge that will literally transform how you think about your business forever.
The most PROFITABLE thing you will EVER do is understand and ethically exploit the marginal net worth of your customers. Most of y'all are leaving MASSIVE money on the table because you don't know this number.
Here's the breakdown:
Your marginal net worth = Total aggregate profit of an average customer over their ENTIRE lifetime with you (including ALL residual sales) MINUS your advertising, marketing, and fulfillment expenses.
Let me paint you a picture:
- New customer drops $75 profit on first purchase ✅
- They come back 3 MORE times per year
- Each reorder = $300 sale with $150 gross profit
- Average customer stays with you for 2 years
Do the math: $75 + (3 purchases × $150 profit × 2 years) = $975 per customer
That's NINE HUNDRED AND SEVENTY-FIVE DOLLARS per customer! 🤯
Once you know this number - and I mean PRECISELY know it - everything changes. You can afford to spend more on acquisition, you can create better experiences, you can build systems that MAXIMIZE that lifetime value.
Your homework: Calculate YOUR marginal net worth RIGHT NOW. Don't guess - get the real numbers.
Question for the community: What's your current customer lifetime value, and how are you maximizing it? Drop your numbers below! 👇
Remember - we're not just building businesses, we're building EMPIRES. And empires are built on understanding the TRUE value of every relationship.
No safety nets. Profit from Day One.
What strategies are you using to increase your customer's lifetime value? Let's discuss in the comments!