← Every exhibit

Table Table 3 Growth that compounds

Which common shortcuts lead to dangerous miscalculations of payback velocity?

ShortcutWhy it failsCorrective protocol
Blended revenue paybackDirect delivery and support costs are ignored, understating payback timeCalculate payback exclusively against net variable contribution margin
Zero-churn assumptionDefected accounts leave unamortized CAC balances that slow cohort recoveryFactor actual monthly cohort survival probabilities into the recovery schedule
Upfront billing treated as zero paybackAnnual prepayment covers year 1 cash but does not mean CAC was zeroDistinguish working capital cash collections from economic break-even
Excluding sales management overheadFront-line salaries are counted while sales engineering and enablement are droppedUse fully loaded acquisition costs in the initial investment balance
Masking contraction with price hikesTopline retention looks stable while active account usage deterioratesTrack gross margin contribution at constant price boundaries
Blending acquisition channelsOrganic referrals with 3-month payback hide paid search campaigns with 24-month deficitsSegment payback calendars strictly by acquisition channel and customer tier

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Reference & Evidence

Source: Table from this essay. Sources and interpretation are given in the article.