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The Capital Allocation Theory of Growth Series #7: The CFO Theory of Growth

The productive tension between growth and finance is not a bug. Growth wants more shots on goal. Finance wants to know when the cash comes back. A healthy...
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The Capital Allocation Theory of Growth Series #6: The Metric Stack for Growth Operators

Growth metrics sit in layers. The lower layers are not useless, but they are easier to game and easier to misunderstand. The higher layers are harder to...
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The Capital Allocation Theory of Growth Series #5: Attribution Is Not Incrementality

Attribution systems are useful, but they are not truth machines. They tell the company which touchpoints appeared near a conversion. They do not...
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The Capital Allocation Theory of Growth Series #4: The Next Dollar Is the Only Dollar That Matters

Growth teams often defend a channel by pointing to its historical performance. The average CAC is attractive. The blended payback is acceptable. The...
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The Capital Allocation Theory of Growth Series #3: Gross Growth vs Net Growth

Gross growth is the version of growth that looks good before the business has paid the full bill. It counts revenue, customers, signups, pipeline, or...
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The Capital Allocation Theory of Growth Series #2: There Is No Universal Growth Metric

A bad growth review starts with universal metrics. CAC, LTV, ROAS, payback, retention, NRR, conversion rate, and activation all sound precise until they...
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The Capital Allocation Theory of Growth Series #1: LTV:CAC Is a Story, Payback Is a Constraint

Growth teams like LTV:CAC because it turns a messy business into a clean ratio. The numerator tells a story about future customer value. The denominator...
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The Operator's Long Game — Series Index

The Operator& 39;s Long Game is a 6 part series. Use this index as the table of contents and read the posts in order. Read the series in order The...
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