Many small business owners — both in eCommerce and traditional retail — make the mistake of focusing solely on short term revenue instead of also considering customer lifetime value (LTV). “Many entrepreneurs find themselves in a race to the bottom, as they begin to focus on using revenues to keep up with expenses instead of produce profits,” writes Eric Siu at Entrepreneur. The misguided focus is understandable. After all, revenue is what keeps your business afloat. As a result, … [Read more...]