All entrepreneurs, whether offline or on need to know this key number to run a profitable business. We online marketers have elaborate tracking for conversion rates, click through rates, etc, but we do not track the lifetime gross profit of a customr. Even a company just starting out should have some idea of this number, otherwise how do you determine the price of your product.

The first step as a new business, you should research industry data, ask others to find how long the average...

Let's say you have a website, or have purchased one, and are seemingly stuck trying to figure out how to generate more money online. This is fundamentally about good marketing. Apply your creativity to achieve great results. Implement new methods to add more revenue, and drive those efforts daily to increase your profits.

I'm a big fan of Philip Kotler and I wanted to share some of the wisdom I've learned in my MBA program at Keller Graduate School of Management. In order for this...