10. Cost To Acquire A Customer CAC | $100M Lost Chapters Audiobook
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Cost to acquire a customer equals CAC. How much does it cost you to make money? Every business owner always wants a new low-cost way to get new customers. Because the lower your cost to get a customer, the better your ratio is between what you spend and what you make. If you spend $10 to make $1,000, it seems a hell of a lot cooler than spending $900 to make $1,000.
This is how crazy wealth gets made. Here's the problem. Most entrepreneurs have never calculated their actual cash. They report on how much ad spend it costs them to get a customer, or they think that their content leads are free, or their outbound team, they don't consider the only the commissions, etc. Then they're surprised at the end of the month when they're not making any money.
That $1,000 sale you thought cost you $200 to make really costs $500. And as small of a difference as that may seem, in some businesses, that can be the difference between $1 million per month and $10 million a month. It's that important. So let's talk about how to know for sure. Unlike LTGP, CAC is a hard science.
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