This is a YouTube video titled "Do you really know your LTV?" containing a discussion about understanding customer lifetime value (LTV) and its importance for making informed business decisions, such as calculating true margins, scaling, and reinvestment. The content appears to be a monologue or single speaker explanation without indication of multiple speakers or involvement of Nicolas Cole.
If you don't understand what the LTV is of your average customer, it's hard to make decisions around, well, what is my true margin? How much am I really making here? How much can my business scale? How much could I reinvest in new things? And if you pair this with I don't know what my customer acquisition cost is, or you think I'm not spending any on ads, but I have an entire team of labor, but you're still calling it zero. That's going to lead to a lot of faulty decisions. So it's really not until year two, year three, or four, until your business starts to mature, that you get a true sense of what the lifetime value is of of your customer.
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