Welcome to another round of great ideas from around the web.  Wednesday Wisdom is all about sharing articles and resources to grow your business. If you’ve found something interesting this week, please feel free to share it in the comments section below.

Sometimes to read Wednesday Wisdom fully and take in the videos and podcasts it could easily take you a couple of hours, which is why I often say sit back and grab a coffee, but today I’m going to invite you to have a whisky or an espresso because Sydney Shirt Retailer Shirt Bar is offering exactly that to customers at it’s Sydney store. With retail being in the doldrums due to the recession, it’s great to bring a bit of innovation to your business.  What innovation can you bring to yours?

Now that you’re suitably relaxed, or wired if you went for the espresso option, finally please scroll down to the bottom of this post and spare 2 minutes to answer the question at the bottom, in the meantime here’s the rest of what we’ve found:

Nic Windley explains Why the Customer Lifetime Value Formula Is Crucial To Your Business. Put simply this is the amount of money that a customer is likely to spend with you over the life of their custom. A good example is a supermarket, to a supermarket your value is not the £100/$100 you spend each week but the amount you spend over 5-10 years ie £25-50k. So if you decide to take your custom elsewhere, that’s a lot of potential business to loose.

So, what’s the Secret to Winning Repeat Customers?Michael Kaleikini writing on Entrepreneur.com  explains how.

If you’ve wondered about the value of Twitter to your business,  Jose Jimenez in an interesting article on Forbes.com asks:  Does A Small Business Need to Tweet? Short answer is: no it doesn’t, but read the post why you should and why you should use Twitter even if you decide you don’t want to Tweet.

If you’re working on a Business plan you might be interested in SmallBizTrends’  Latest Business Plan Tips to incorporate in your plan, and if you’re already established and wondering: Is Your Business Ready to Scale? Danny Wong asks 3 simple questions which you should ask yourself before moving to the next level.

So that’s what we’ve found this week, but what about you please share your finds in the comments below.

Finally, I’ve been thinking of moving Wednesday Wisdom over to the Facebook Fan Page and the Linkedin Group, but sharing the articles throughout the week rather than just on a Wednesday. I’d be interested to know your thoughts on this.