Mistake #4: Ignorance Or Lack Of The Customer Net Worth

As we said in Mistake #3, marketing is conducted for the masses, but the customers come in one at a time. When you spend your money, you need to get value for your investment and you need to get an asset. That asset will be an asset or client that you can turn into a long-term business value.

One of the worst mistakes 99% of the businesses make is letting prospects and clients come and go with no thought as to how valuable they really are and how valuable they are to the future security of your business. You need that answer, which is the net worth of the customer.

Every customer is going to buy. How many times throughout the year? How long? If you don’t figure out these numbers, you really aren’t in business because you don’t have a valuable asset. Your business lacks value. It might have cash flow and you might have some money, but it’s fleeting and short-term.

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