CAC = total sales + marketing spend ÷ new customers in period. Include ad spend, sales compensation, tools, and overhead.
Monthly costs ÷ new customers per month. Include every cost that wouldn't exist without acquisition activity.
True win rate counts from first qualified conversation, not from proposal stage. Most companies overestimate by 15–20 points by only tracking proposal-to-close.
Multiplies all stage conversion rates together. 60% qualified-to-proposal × 45% proposal-to-close = 27% true win rate.
From first qualified conversation to signed contract. Most companies underestimate by only measuring proposal to close.
EBITDA as a percentage of revenue. Used to calculate current EV and model the dollar impact of commercial efficiency improvements.
EBITDA = gross margin minus all operating expense %s. Excludes interest, taxes, D&A.
Typical EV/EBITDA by BSI tier and revenue scale
| Revenue range | Low | High | Midpoint | |
|---|---|---|---|---|
| <$10M | 4x | 7x | 5.5x | |
| $10–50M | 5.5x | 9x | 7.3x | |
| $50M+ | 7x | 12x | 9.5x |
Reflects typical PE transaction multiples for private companies. Adjust upward for high growth, high recurring revenue, or category leadership. General PE benchmarks — not proprietary Lucidify data.
| Category | Buyer question | Baseline | Target | Delta | PLZ status | Zone | Progress |
|---|---|---|---|---|---|---|---|
| Assurance signals | "Can I trust this company?" | 52 | 72 | +20 | Within PLZ | Moderate Strength → Strong Signals | |
| Comprehension signals | "What exactly does this company do?" | 55 | 74 | +19 | Crosses PLZ | Moderate Strength → Strong Signals | |
| Differentiation signals | "Why this company instead of another?" | 48 | 70 | +22 | Crosses PLZ | Weak Signals → Strong Signals | |
| Validation signals | "Is there evidence this works?" | 58 | 76 | +18 | Crosses PLZ | Moderate Strength → Strong Signals | |
| Leadership signals | "Does this company lead or just participate?" | 45 | 68 | +23 | Crosses PLZ | Weak Signals → Strong Signals | |
| Structural coherence | "Does this company feel coherent and stable?" | 54 | 72 | +18 | Within PLZ | Moderate Strength → Strong Signals |