What is one idea worth to your business?
It sounds weird – but that’s one of the primary questions we use when looking at attending different seminars, using different marketing tools, advertising etc and is an exercise we use with all our mastermind coaching group.
One of the best ways to understand how much an idea is worth is to understand the lifetime value of a customer? (From wikipedia) – “The lifetime value of a customer is is the net present value of the cash flows attributed to the relationship with a customer.”
Let’s use an example: