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The ratio review sheet
A ratio earns decision rights only after its cohort, cost and timing survive inspection.
| Question | If yes | If no |
|---|---|---|
| Is LTV based on a fixed starting cohort? | The survival and expansion path can be inspected | The ratio may be survivor-selected |
| Does CAC include the same commercial boundary across channels? | The comparison has a common cost basis | The ratio is a boundary comparison |
| Is payback shown by cohort? | Cash exposure is visible | The ratio hides funding time |
| Are contribution costs included after go-live? | Value is closer to operating contribution | LTV may be revenue dressed as margin |
| Is expansion separated from survival? | The growth mechanism is visible | A few expansions can carry the average |
| Is the downside case shown? | The decision has a boundary | The ratio is a best-case promise |
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Reference & Evidence
Source: Author's worksheet for reviewing LTV:CAC before using it as a growth decision.