Finding inspiration and direction as a creator can be a challenging task, whether you're just starting out or have years of experience under your belt. It's important to identify your keys to victory - those elements that will accelerate your creative success. Jeremy Enns has shared some incredibly insightful and useful tips on how to do just that.

Gina Martinez

Gina Martinez

Feb 15, 20244 min read

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Finding inspiration and direction as a creator can be a challenging task, whether you're just starting out or have years of experience under your belt. It's important to identify your keys to victory - those elements that will accelerate your creative success. Jeremy Enns has shared some incredibly insightful and useful tips on how to do just that.

One key aspect that Enns emphasizes is the importance of understanding where to put your focus. As a creator, it's easy to get overwhelmed by the multitude of tasks and ideas vying for your attention. However, by identifying your keys to victory, you can streamline your efforts and ensure that you're making the most of your time and energy.

One of the essential metrics that every company should know is the Cost of Customer Acquisition (CAC). This metric allows you to determine how much it costs your business to acquire new customers. By dividing your marketing expenses by the number of new customers acquired, you can calculate your CAC. For example, if you spent $8000 on marketing in September and acquired 40 customers, your CAC would be $200.

However, it's crucial to measure the CAC in conjunction with the Customer Lifetime Value (CLV). The CLV is determined by multiplying the average value of a sale by the number of repeat transactions and the average retention time. By evaluating the CLV, you can identify profitable client segments and prioritize your efforts on the most rewarding audience.

Understanding your keys to victory as a creator involves evaluating your strengths and weaknesses. Enns suggests taking the time to reflect on your past successes and failures. By analyzing what has worked well for you in the past, you can identify patterns and strategies that can contribute to your future success.

In addition to reflecting on your past experiences, Enns recommends seeking feedback from others. By gathering input from trusted friends, colleagues, or mentors, you can gain valuable insights into areas where you may need to improve or focus more attention. This external perspective can provide fresh ideas and perspectives that may have otherwise been overlooked.

Another key metric that Enns discusses is the Customer Lifetime Value (CLV). This metric allows businesses to determine the average value of a customer over the course of their relationship with the company. By multiplying the average value of a sale by the number of repeat transactions and the average retention time, you can calculate the CLV.

Calculating the CLV depends on the specifics of your product or service. For example, if you have a monthly subscription-based model, the CLV calculation would consider the average monthly payment multiplied by the number of months a customer remains subscribed. If you have a one-time transaction model, the CLV would be based on the average value of a single purchase.

Once you have calculated the CLV, it's essential to evaluate the profitability of different client segments. By identifying which segments bring in a higher profit, you can prioritize your efforts and resources accordingly. It may be necessary to let go of clients who are decreasing your net profit and difficult to convert, in order to focus on the most rewarding audience.

In summary, identifying your keys to victory as a creator is crucial for accelerating your creative success. By understanding where to put your focus, evaluating your past experiences, seeking feedback, and measuring key business metrics such as the CAC and CLV, you can make informed decisions and optimize your efforts. Here are three actionable pieces of advice to consider:

1. Reflect on your past successes and failures to identify patterns and strategies that have worked well for you. Use this knowledge to inform your future decisions and focus your efforts.

2. Seek feedback from trusted friends, colleagues, or mentors. Their external perspective can provide valuable insights and fresh ideas that may have otherwise been overlooked.

3. Measure key business metrics such as the CAC and CLV to evaluate the effectiveness of your customer acquisition strategies. Use this data to identify profitable client segments and prioritize your efforts on the most rewarding audience.

By incorporating these strategies and metrics into your creative journey, you can unlock new levels of inspiration and direction, ultimately accelerating your creative success.

Resource:

  1. "12 Business Metrics That Every Company Should Know | Scoro", https://www.scoro.com/blog/12-business-metrics/ (Glasp)
  2. "How to Identify Your Keys to Victory (And How They’ll Accelerate Your Creative Success) - Jeremy Enns", https://jeremyenns.com/2021/11/keys-to-victory/?ck_subscriber_id=2100208664 (Glasp)

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