Hi everyone. Today, I want to talk a bit about what to do when building up an education plan and looking at how much knowledge you need to acquire for your online business.
One of the things you need to do when looking at the financial viability of any business is you want to analyze a couple of numbers. The first number is you want to understand what the lifetime value of a customer is.
One of the things you can do to build your business is to automate it. And by automated, try to generate leads automatically, try to market to leads automatically, and try to follow up automatically. Now, depending on the price point of your business, if it's low enough, you could actually get people to convert automatically. So let me just walk you through a typical process. And this process in online marketing specifically is known as a funnel.