40. Unlimited Marketing Budget

Brad Sugars continues to discuss the Niche of the business and goes into great detail on how to generate an “unlimited marketing budget” for your business. Brad explains acquisition cost, how much it costs to buy a customer. If you spend $1000 on an advertisement and you get 10 customers from it, your acquisition cost is $100. Business is not about selling products off a shelf. In the entrepreneurial sense, business is about buying customers for a certain price, then make that money back in lifetime value of that customer. If you can buy a customer for less than the profit on the first sale, you can have an unlimited marketing budget. It takes marketing from being an expense to being an investment.