Basketball To Business

What's up, basketball trainers? In this podcast episode, I dive into the world of business numbers, focusing on the concept of lifetime value (LTV) and how it relates to advertising, especially through Facebook. My goal is to create a "money machine" that returns three to four dollars for every dollar spent. I reflect on my experience training kids from sixth grade to college and how understanding the cost of acquiring a customer through Facebook ads is crucial. It's not just about minimizing costs but also about acquiring high-quality customers who stay longer. I illustrate the complexity of calculating LTV by emphasizing the importance of considering the actual costs to provide a service, rather than a simplified formula of price times the number of purchases. Tracking these numbers has made me realize the potential of focusing on private training clients who pay more and stay longer. The insights from LTV calculations have helped me determine how much to spend on acquiring new customers