11. Lifetime Gross Profit LTGP | $100M Lost Chapters Audiobook

Lifetime gross profit, LTGP, the arms race of business. LTGP, the amount of gross profit a customer collects over the lifespan of a customer. In other words, how much total money you make from a customer minus everything it costs you to deliver it. Now that's easy to understand, but can be hard to figure out if you don't have a CRM or a customer relationship management tool. That tracks some of these metrics for you.

That's okay though. I'm going to give you some back-and-napkin ways to calculate it. LTGP, step one, gross profit. The first thing you have to figure out is gross profit. Gross profit is what's left over from a purchase after you deliver the goods or service.

Note, this isn't net profit, which is what's left over at the end of the month after you paid all expenses. This is just what's left over on the core thing you sell. You then run your business on the gross profit to pay the rest of your bills and hopefully have some left over for your pocket at the end of the month. Author note Many entrepreneurs mix up gross profit and net profit. Gross profit is money left over after only subtracting the cost of making and delivering your product or service.

We already have this episode, so unlocking it is cheap and permanent: the full transcript (5 minutes, 1,044 words), segment and word-level timestamps, and .txt, .srt, .vtt and word-level JSON downloads, as many times as you like, forever.

No account needed, we create one from your checkout email. With credits it is 1 credit; packs start at 10 episodes for $5, and monthly plans are cheaper still.