Alex Becker on LTV and why its so important - Long term value method

Alex Becker here on determining and explaining why the LTV (Long Term Value) of a customer is so important to understand.  It really is the foundation for being able to "scale" a business up.  Without ascertaining the precise value of what a customer is worth,  how can you determine what to spend to acquire new customers to scale your business?  With the LTV of a customer discovered,  you now have the confidence to spend X amount on gaining new customers knowing that you have your return on investment covered!