Do You Know Your Numbers?
Business is not mystery or luck. The more I study the GOATs, the more I realize, it’s just MATH. Read to the end for a free gift. 🎁 What you measure improves. FYI Skool metrics help you with some of these now and much more advanced metrics are on the way very soon. Let me know in the comments if you need a video to explain. The big numbers are: Total Revenue = total currency your group generates. Overhead = With the new Hobby option of Skool, just starting out, it can be literally $9 a month. (Unless you have other costs to deliver your offer). That means the rest is …….. Margin = Revenue - Overhead. CAC = Cost to Acquire Customers (for most this will only be measured in time. Monetary comes into play with ads which we aren’t primarily covering here). LTV = Lifetime Value. This means on average how long your members stay and how much money that puts in your pocket. Conversion Rate = What percentage of members take your offer. Knowing these numbers lets you score your business’s health by percentage. If the percentage is good, you scale the effort and scale results. To help you, my friend Claudio developed this calculator specifically for Skool. Let me know your numbers below so I can help.