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As brands approach the $1M–$10M revenue range, they often find themselves stuck—still hustling, but with slower growth and rising costs. That’s where CTC’s Global Accelerator comes in. In this episode, Richard Gaffin is joined by Joy Sharma and Jan Almuni to share the blueprint for how seven-figure brands break through to eight.
They reveal the step-by-step playbook used across dozens of brands in the Accelerator program … and why the secret to scaling isn’t one big move, but the right next move at the right time.
You’ll learn:
- Why creative volume is a non-negotiable, and how to build it cost-effectively
- How the “two-and-two” marketing calendar framework drives consistent growth
- What landing page testing can teach you about offers, personas, and real incrementality
- Why retention isn’t a backend problem … it’s baked into every step of the growth journey
Show Notes:
- Get your FREE mystery shopping report from Stord — compare your CX against two competitors at stord.com
- Explore the Prophit System: prophitsystem.com
- The Ecommerce Playbook mailbag is open — email us at podcast@commonthreadco.com to ask us any questions you might have about the world of ecomm
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[00:00:00] Richard Gaffin: Hey folks. Welcome to the Ecommerce Playbook Podcast. I'm your host, Richard Gaffin, Director of Digital Product Strategy here at Common Thread Collective.
And I'm joined today by two special guests from our Growth Accelerator program, Joy Sharma, who heads that up. And then introducing a new face to all of us here, Jan Almuni, who heads of growth for our global accelerator division. What's going on guys? Good to have you on the pod. So I think today we're gonna jump into some specifics around the, the Growth Accelerator, or sorry, rather, global Accelerator focuses on growing brands from sort of the seven figure range to the eight figure range.
And we're gonna be focusing on some specifics around the steps that you need to be taking as a seven figure business. In 2026 to get to that eight figure mark. So, I'll throw it over to you guys joy, and, and Jen maybe give us, first I'll go to you, joy. Give us just a little bit of background about the Global Accelerator Program and what it is specifically that you do in that program.
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[00:02:23] Joy Sharma: I said background on the program is, I think we launched this last year. The idea was that we wanted to give the full service that we do for all our customers at enterprise level and do it for seven figure businesses. At a price that makes sense to them. think since then
[00:02:36] Richard Gaffin: Mm-hmm.
[00:02:36] Joy Sharma: has I would say we've taken a, we have a bunch of customers now, a lot of people, a huge team I would say at this point. And what we were talking about today is we are, we run into this conversation a lot of times, like when you're a seven figure business, what are actually the things you need to do to grow to an eight figure business?
Like, what is the roadmap? What are things I need to do, and how much of this is consistency or am I missing out on stuff? So what we want to do was like, we wanted to build this into a playbook of these are things you need to do not only win in
[00:03:08] Richard Gaffin: Yeah.
[00:03:08] Joy Sharma: but also like win in 2026 and become a eighth figure business. So
[00:03:12] Richard Gaffin: Yeah. Cool. So let's, we'll, we'll throw it over him then to talk about that specific playbook. For seven Figure Brands, this is something we don't often talk about on this podcast specifically. So let's, let's jump into that then, Jan. Talk to us a little bit about, first talk a little bit about your role at the Global Accelerator and then we'll kind of jump into the playbook.
So let's start there. So what are, what are you doing for the Global Accelerator and what's your role there?
[00:03:35] Jan Almuni: Richard thank you very much for the introduction. Thanks Joey. Super excited for being on the podcast. A bit about myself. Here at CDC I'm the head of strategy and accelerator. I'm trying to help also grow strategies, build the strategies together in the playbooks, together with the clients. To scale businesses from seven figures to eight, and obviously possible to nine. But obviously we're trying
[00:03:57] Richard Gaffin: Mm-hmm. Of course.
[00:03:59] Jan Almuni: Building playbooks with some kind of naming that we're gonna share today. But at the end of the day, it's some kind of. Points, key points that every single seven figure businesses should start building and should start testing. Obviously in some, some businesses want to test it because they have easy money, because they have more money, they want to test it higher a level, someone wants to start testing one at a time. But obviously it's important if you are targeting to an eight figure business to start testing this. Pay books. is kind of my role also helping the team. Talk to each other and try, try to learn each other experience and then try to share with each other all our tactics and our problems and that we are having scaling this business. But that's a been my issue of set of strategy. Yeah.
[00:04:42] Richard Gaffin: Gotcha. Okay. So let's jump into those playbooks then, which you mentioned. So, before we kinda hit record here, we talked through the four key points of those. So I'm gonna list those out as sort of an overall summary and then we can dive into each one of them one by one. So, first and foremost being of course, creative volume and diversity.
That won't be any surprise to people who've listened to this podcast or who are involved in e-commerce at all. That's the name of the game right now. Second is around. How to build out your marketing calendar and how to set your offers. Then third, talking about landing page and persona testing.
And fourth, finally thinking about retention strategy. So let's start with number one, which is creative volume and diversity. How do you approach that as a seven figure business?
[00:05:21] Jan Almuni: One of the most important
[00:05:22] Richard Gaffin: Mm-hmm.
[00:05:22] Jan Almuni: seven figure business is creating the system of creatives. I think as we see here at CDC creatives is based on angles, offers and personas and audiences, and then from there you just need to get more volume and create more of this kind of triad of, of these three things. We always give the client with this kind of concept block. I always tell them this is a framework. I wish they were able to even expand that and create their own with some clients we're actually doing that. I think for example, chat, GBD and this kind of super helpful for that like. We're trying to also
[00:05:56] Richard Gaffin: Mm-hmm.
[00:05:56] Jan Almuni: them, Hey, create me like 20 personas with 20 angles to test that. Building this is super important, this creative volume. 'cause at the end of the time, meta is a volume game as we know. Also now with Andro, meta of a diversity also game. the end of the time. We just need to launch new creative with different messages to see which one sticks. And actually, as I always say, it's like try to find a golden nugget, putting paid
[00:06:21] Richard Gaffin: Mm-hmm.
[00:06:21] Jan Almuni: 'cause once we have find a golden nugget, then it's just pushing hard that machine and exploiting that until we have or fatigue or until we reach certain level of, of raw that it's interesting for us and it's profitable, obviously. I think one of the systems we're now pushing for these seven brands 'cause they don't have so many. Betting, like they cannot bet so much, they don't have so many cash.
[00:06:42] Richard Gaffin: Mm-hmm.
[00:06:43] Jan Almuni: cash problems. using a system which they already have, and I'm seeing that in a lot of seven business, which is the organic side. have huge tiktoks, we have huge Instagram reels, but then on the ads side, we're trying to ete or come up with an ad trying to hire a creator. But we actually already have a, a c community manager, or the founder already pushes some videos by themselves on Twitter and so on. If we actually see, like one of the three steps I tell them is sometimes first create the system, which we call the volume playbook. Then the second one is. We are already launching in TikTok.
Start keep testing on TikTok, the ones that stick. TikTok. Also Instagram reels. I think that because of the nature of the platform, it's super easy to see what sticks and what not. 'cause it's super easy in tool. In two, three days you can see what's viral and then get that content and just launch it on media.
On media buying on merit, and just put spend behind it. you'll see. Actually, it's a safer bed. Sometimes it will work. We have tested that with several brands. Sometimes it'll work directly to purchases. That has happened with several brands. Sometimes it acts as a middle funnel kind of pushy, which is kind of, it's more tutorial, it's actually one of the best engaging ads, and it's working fantastic because the business actually grows thanks to that. And I think once you create that volume, like that system that can push, we actually recommend 90. Ads per month. I'm launching 150
[00:08:09] Richard Gaffin: Okay.
[00:08:10] Jan Almuni: with some clients that want actually to scale much faster. Then the key here is the creative analysis. It's speaking which angles are the winners, which ones we should not be pushing. SME algorithm is telling us with Ross, 'cause our A BO with and drama is easy, is like we open an A
[00:08:27] Richard Gaffin: Yeah.
[00:08:27] Jan Almuni: we drop the ads and let the algorithm actually tell us which one is the winner, which one is the
[00:08:33] Richard Gaffin: Mm-hmm.
[00:08:34] Jan Almuni: Able to un understand better and purchase because of that. And then that's the second part, which is what you said Richard.
Really good, is that diversity side is the heat rate. The heat rate normally is surrounding three 4%. that's
[00:08:47] Richard Gaffin: Mm-hmm.
[00:08:47] Jan Almuni: need volume. But then once we hit the golden nugget, it's not keep betting on more. It's like keep the volume game, but on the side keep iterating. And we call it this 50 50. It's like now that we have launched this many ads. Keep launching them, but look at the winners and now iterate with the, we have a, I think since you have one of the great blogs that I have shared, like 20 times or more with some clients, like it's 30 ad formats blog posts that we have, and it's kind of get that winner and just do diversity on that angle, on that audience.
Keep pushing to
[00:09:21] Richard Gaffin: Mm-hmm.
[00:09:21] Jan Almuni: personas behind different people that you see, like different soup audiences that I call with different, like with different
[00:09:27] Richard Gaffin: Yeah.
[00:09:28] Jan Almuni: Pictures and so on. That's be the, the first
[00:09:30] Richard Gaffin: Yeah. So se send the same message, but make it look. As different as possible with your iterations, right? So you're not necessarily iterating on sending a new message or targeting a new audience. You're iterating on doing, I don't know, a cinema graph here, and then, I don't know, short form video, long form, video stills, all that type of thing.
Let, let me go back to your, the first, oh, go ahead. Go ahead. Joy.
[00:09:54] Joy Sharma: I think it's a cost thing. I think it's a cost thing actually for seven figure businesses because they can't keep making all the new ads. So what we recommend is basically in that a B, everything that's spending make attritions on it. There's that incredible blog. That's a way to make 30 different ads of the winning angles go and make them. And then also like make sure half of your ads are still net new. And that's like the best cost optimization. But I think this is, you run a correlation between the customers that actually grow from seven to eight and are the fastest growers in the
[00:10:24] Richard Gaffin: Mm-hmm.
[00:10:25] Joy Sharma: there's basically a hundred percent correlation.
Like it's not even like 80%, 90%. Like everyone who does create a volume wins and everyone who doesn't win.
[00:10:34] Richard Gaffin: Mm.
[00:10:34] Joy Sharma: I think this is a. A mentality thing more than anything else for seven figure business because eight figure business are used to it. They're like, okay, we have a creative system in place and for a lot of seven figure business, it's
[00:10:44] Richard Gaffin: Mm-hmm.
[00:10:44] Joy Sharma: these small amount of creators, they make like 10 ads a month and so and so forth.
For them, it's actually a big thing what happens, right? The second they make a hundred ads is like, oh, previously I used to launch 10 and like three of them
[00:10:57] Richard Gaffin: Mm-hmm.
[00:10:58] Joy Sharma: of them work, and I launched a hundred and only 10 work, or like only five. I think that's like the huddle that nobody gets over quickly. But that's essentially what like hit rate is. Like we have talked about hit rate so many times, but like if you actually for seven figure customers when the first time go through it, they're like, oh, that, that's what it means. And I think part of the reason is like when you make so few ads and your at account doesn't have like has 50 ads in total, most of that are gonna work because you actually
[00:11:23] Richard Gaffin: Yeah.
[00:11:24] Joy Sharma: conquered any of the real estate placement ever. I think like that huddle, people just don't get over it for a lot of
[00:11:30] Richard Gaffin: Mm.
[00:11:31] Joy Sharma: Like they have the system, it's like doing more of it. I think it's more of that, that idea, that's why it's like create a volume. You
[00:11:37] Richard Gaffin: Yeah.
[00:11:38] Joy Sharma: volume first and then focus on diversity and like, this is the funniest thing that we see, which is like the way they make more ads is they will look at the last ad that worked well and let's make more of that to actually like a fundamental for, because like you've
[00:11:51] Richard Gaffin: Yeah.
[00:11:52] Joy Sharma: won that real estate placement, like move on. find something else and like that's basically two. These are two detrimental things that we actually should remove instead of like creating new systems.
[00:12:02] Richard Gaffin: Interesting. No, that's an interesting observation that like that idea of like, well, this worked in the account in the past, so let's just make new versions of it. I mean, that's definitely like a really easy temptation to fall into for sure. You'd mentioned at the kinda the first point that you made there, Jan was around.
Building the system. And so of course, I think for a lot of people in the seven figure range, the question is like, well, how do you build the system? And now I've had two conversations now on this podcast with global Accelerator clients who are both super, super successful and I was able to observe as well that yes, like they have a very clear operating system, just generally speaking, and then also for the creative specifically.
So talk to me about what the characteristics are. Of those operating systems, what are some tactics that people can use to get to the type of volume that we're, we're looking for here?
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[00:13:16] Jan Almuni: I think most important, the first thing of these systems is based on the. They're concept log. I think the one that we share is super useful, but they own it. Most of them, like they use that concept log to build their own, kind of
[00:13:31] Richard Gaffin: Mm-hmm.
[00:13:31] Jan Almuni: and then they send it much more to the creating thing. I think that's the first thing is this concept log, which actually we pull down in our Excel that we send the client is offer audience and, in this case message, right. Both
[00:13:48] Richard Gaffin: Mm-hmm.
[00:13:48] Jan Almuni: create one ad in. In this case, we create three. The one we share this Excel and they pick it up. That's why I tell my client, please keep filling them up. I think the best ones
[00:13:58] Richard Gaffin: Mm-hmm.
[00:13:59] Jan Almuni: have as clients are the ones that own that system. the other hand, I think one of the best systems that we have
[00:14:06] Richard Gaffin: Mm-hmm. Mm-hmm.
[00:14:24] Jan Almuni: then with this con, like content creators, normally they have ambassador programs or they have their regular content creators hired based
[00:14:32] Richard Gaffin: Mm-hmm.
[00:14:32] Jan Almuni: percentage of the number of ads they do. Some of them have reached. Several deals with percentage of spend, percentage of of purchase. I have seen that throughout the, the accounts, but most of them are content creators. We share the ads, we share the concepts. Normally they don't share the ads specifically 'cause they know that the con content creators are really good. Normally they are influencers. Normally they are small content creators, like small micro influencers. We see the content and then we make them. Create the ads based on what they know of content creator and what they know about the brand. And I think that usually gives us a lot of volume. then one of the good things is the, then the editor team, that's one of our tactics, is then the editor team just get the UGC with the different hooks that we, that they are saying and we are actually talking about. And then it
[00:15:19] Richard Gaffin: Mm-hmm.
[00:15:20] Jan Almuni: it down to statics, to small chunks. And then at the other of the day, it's one UGC, we can transform it into 10 20. Statics gifts,
[00:15:29] Richard Gaffin: Mm-hmm.
[00:15:30] Jan Almuni: that we were talking. Right. That's the good thing. And even if it's not a winner yet, we have already done 20 ads of diversity, meta and drum learns much more.
'cause he understands every single section,
[00:15:41] Richard Gaffin: Mm-hmm.
[00:15:41] Jan Almuni: type of ad. Some people are better with boomerang, some people are better with G. And then actually we create 20 ads from one simple video. then you just have, some of my clients have this kind of. Big team of content creators, like small content creators at the end of time, like they're micro influencers. We don't have this huge influencer paying or this huge person behind it. Just small content creators that we share ads and ads with them. Ads ideas, right? And then just
[00:16:08] Richard Gaffin: Mm-hmm.
[00:16:08] Jan Almuni: the, the content. The good thing about this, and I think Joey mentioned it, is like systems are the ones that don't stop, right? The ones that don't stop 'cause we are delivering results, but at the end of the day. The actual team of, of editors. Normally I have some kind with one editor, he only iterates and then the system gets flowing 'cause we have new content iteration. It's kind of 50 50
[00:16:32] Richard Gaffin: Hmm.
[00:16:32] Jan Almuni: and then it's how you two x the content. That's a
[00:16:36] Richard Gaffin: Yeah. Yeah, that makes sense. So, oh, go ahead, joy.
[00:16:42] Joy Sharma: I think, I think also
[00:16:44] Richard Gaffin: Sure.
[00:16:45] Joy Sharma: I think we can just spend the whole podcast on creative if you want to just, 'cause I think at this point we are gonna be close to like 80 customers
[00:16:51] Richard Gaffin: Mm-hmm.
[00:16:52] Joy Sharma: we have seen so many creative systems across all these. And I think the few that I would like to point out that like were the best or the like, they intrigued me a lot, which were number one, like nobody created like at a seven figure range should ever care if their editor is like onshore or offshore.
Like that's the like point blank. I just don't want a person to charge us more than a grand a month to just edit videos. Like that's point number one. I think from a creative sourcing point, like I love the ad, did you see the ad from Breathe? Which was like made by their founder, I think like. That is the best side.
Like there's not a single customer in the sim figure that we've actually said to like not said to get their founder involved. Like that's the best way to go and source creators because your limited on resources. Like I think that's one really good tactic. The second, which is like my favorite is, first of
[00:17:38] Richard Gaffin: Hmm.
[00:17:39] Joy Sharma: think a lot of
[00:17:39] Richard Gaffin: Mm-hmm.
[00:17:40] Joy Sharma: should have headquarters in LA or New York, but if you have, I think you should eek out all the value out of that. What I mean by that is like if you're in New York, you should get out and just film content in New York that's native there. That's a really good tactic. You've seen work and the most Beautiful. one was was a, there's a business that's in LA what they do is they went out, they saw their highest quality customers, like the people who spent the most with them. They figured out using a zip code on like, which are the customers that live within our radius to their headquarters. They reached out, they were like, Hey. What if we actually hire you part-time? And these are real people, like they, they're like corporate moms, or sorry, they're corporate lawyers. Or like stay at home moms and like actually really authentic people.
Or like, Hey, we are gonna pay you a grand a month or $500 a month and come here and let's shoot content
[00:18:28] Richard Gaffin: Beautiful.
[00:18:29] Joy Sharma: on a weekly basis once a week.
[00:18:31] Richard Gaffin: Mm-hmm.
[00:18:31] Joy Sharma: like the most beautiful, I would say, system I've seen to build really authentic creative at scale because they would just book five of them. In a week for one hour inside
[00:18:41] Richard Gaffin: Yeah.
[00:18:42] Joy Sharma: in the studio, and they just pump
[00:18:44] Richard Gaffin: Yeah. That's awesome. Yeah, I think like the, it's, it's about getting creative, about sourcing, at least that seems like part of it, but also like, just to kind of recap a couple of things, Jan said, it's like if you have an editing team that can do it, right, you don't actually have to source that much new creative because those creatives can then be translated into 20 or 30 different iterations, which gives you at least part of the volume that you need.
And one thing too, like I, I just wanna. Make sure that a call out because you mentioned it earlier, Jan was our concept log which is again a spreadsheet that we sent over to clients. The idea with the concept log is that it allows you to ideate a lot of good ideas first. So if you start out with the idea and you start out by creating dozens and dozens and dozens of ideas, then the actual briefing process from those like core ideas of what offer, what angle and audience are you pushing towards.
The actual briefing process out to certain creators becomes a lot easier because you know exactly what needs to be said before you're actually asking people to create anything for you. And so I think, yeah, that's something that we've been harping about at Common Thread for a long time, is that having the idea first, making sure that it's targeted in the right direction, that the message is right is where it all begins.
Once you have a lot of those, then it kind of rolls out from there. You can send 'em to creators. You get a lot of iterations via editors and create sort of a, create a flywheel that way. But let's. Let's move to our next few points here. 'cause as you mentioned, Joey, we could spend all day talking about creative, but let's talk about the the marketing calendar here.
So, Jan, talk to us a little bit about kind of what you're thinking with your seven figure businesses as far as calendar building and offer construction goes.
[00:20:17] Jan Almuni: It is here in the marketing calendar aspect, like we use it to boost this kind of spin. 'cause once the
[00:20:24] Richard Gaffin: Mm-hmm.
[00:20:24] Jan Almuni: system is put in place, once we have already built the kind of acquisition machine that I call it, it's kind of use the calendar to boost this kind of moments and to get this kind of differential, a R rose, yada y, yada, by building a cal a sustainable calendar. most, like we normally take the most correlated with the marketing calendar of the country we are targeting. For example, this August is Labor Day, for example. We try, like we are trying to share with all our customers, use Labor Day as an offer, use that Labor Day as a moment to boost spend and to boost the attention.
'cause customers are already. for attention because it's kind of a holiday. What we normally share with the, with the customers that one thing is important is what I see in seven figure businesses is that most of them that have not triggered that calendar, that calendar tactic they come with to c, DC without a calendar, not
[00:21:14] Richard Gaffin: Mm-hmm.
[00:21:15] Jan Almuni: They're just running by intuition. Like,
[00:21:17] Richard Gaffin: Mm-hmm.
[00:21:18] Jan Almuni: a moment, la Now let's, because of. Is more than because of a ideologist, because of a issue. Like, oh, we're lacking spend, we need to drive a moment. And that's okay in some cases, but they don't have the calendar standardized and they're not kind of training and testing according 'cause.
We all know the big moments. We all know that Black Friday is huge. Moment. Memorial Day this year was a huge moment. we all know Christmas will be a good huge moment, but. are not training and they're not testing based on the calendar on an evergreen way, like meaning every single month. And the tactic we're sharing also always is the tutu.
It's like kind of build two small moments, a drop, a small kind of giveaway. It's a two small moments, and then drop two big ones, meaning a sale, a discount a huge offer by one, get one. And you need to test those on an evergreen month, meaning on August, for example. 'cause
[00:22:10] Richard Gaffin: Mm-hmm.
[00:22:11] Jan Almuni: we know it's not as impactful as Black Friday.
We know people are not looking at e-commerce every single day in Labor Day, but we know people are doing that on Black Friday. And I think the marketing calendar is the like now that we are running towards the Q4, it's super important to build it, to start testing things too small, too big. 'cause then on the big moments, you are not willing to test.
Like I'm suggesting. Don't test on big moments. Don't test on Black Friday.
[00:22:36] Richard Gaffin: Right.
[00:22:37] Jan Almuni: run the offer that has won. For example, in some
[00:22:40] Richard Gaffin: Mm-hmm.
[00:22:41] Jan Almuni: buy one, get one. It's the best offer. We have run it several moments, Memorial Day Black. We, well actually with some clients, we've done this pre-Black Friday to test more moments. then on the black Friday we test moments, this kind of marketing calendar. We used to boost that spend and also to make the engine that the acquisition, the acquisition machine that Jo and I just shared about creative volume, get more spend and actually train
[00:23:04] Richard Gaffin: Mm-hmm.
[00:23:05] Jan Almuni: Get meta, more spend, get meta, more revenue, get meta, more learnings, yada y yada.
And then on the evergreen period, those learnings are already in place. And I think that
[00:23:15] Richard Gaffin: Mm-hmm. Mm-hmm.
[00:23:32] Jan Almuni: business, you need to build more of that 'cause you need more like noise and you need to build those moments to try and figure out which one is the best. then I think win on Evergreen, but also have these moments to boost spend is super important for, for us and for the seven figure business.
I think that's, that's
[00:23:48] Richard Gaffin: Yeah, so, so to clarify, you're saying, so the, the two and two strategy is two, so two small drops or small moments, and then two kind of big, bigger offers. And you're saying you're doing this every single month, two, two of each,
[00:24:01] Jan Almuni: Yeah, we're
[00:24:02] Richard Gaffin: or is that over the course of the year? What's, yeah. Yeah.
[00:24:04] Jan Almuni: some clients. We have a huge moment in a month and we do two small and one huge. That's for example, if we have a huge moment this last month, we also have play a lot with urgency, like in the two big moments, shorter moments, but huge moments with big discounts.
Think that are, that is working super good, at the end of the day, day it's two small moments. Two. Time periods that we launch an email that it's getting the attention, and then the two big ones to acquire and to squish a bit the sponge every single month.
[00:24:33] Richard Gaffin: Mm-hmm.
[00:24:33] Jan Almuni: the, sorry, joy.
[00:24:36] Richard Gaffin: Yeah, that makes sense. Wait, Joey, did you have some go?
[00:24:41] Joy Sharma: Yeah. So also like the idea of a moment is basically, yeah, yeah. The idea of a moment is the same thing, which is, is there a reason the customer should buy today that will not exist tomorrow? So that also includes, it's inclusive of all these things, which are like offers this landing page testing, which are like. Is there a way I can structure whatever I have with a landing page test? Like this is the reason you should buy it today. It's the same original product. Can I, for example, August is a good example, which is if you're selling whatever you're selling, if it actually plays into kids going back to school, can I actually just take the same product I sell on a evergreen basis and call it back to school actually sell it in an angle that's back to school on the landing page that's related, like relevant to that? like the best CRO tactic, but it's actually a reason that existed that will not exist tomorrow. That doesn't necessarily need to include discounting. So that's like the difference between a big and small, big
[00:25:26] Richard Gaffin: Mm-hmm.
[00:25:27] Joy Sharma: a discount, which is like labor's day. Like there's always something happening.
There's always some sale happening for seven figure business. They're not doing it usually, which whereas like their competitors are doing it, eight figure business are doing. So that's like the big moment and for a small moment it's like, can I do offer this and can I do landing business and can I connect to the marketing moment that's happening in the month? And that's
[00:25:45] Richard Gaffin: Yeah, no, that makes sense.
[00:25:46] Joy Sharma: can
[00:25:46] Jan Almuni: sorry.
[00:25:47] Joy Sharma: the
[00:25:47] Richard Gaffin: Go ahead.
[00:25:47] Jan Almuni: of the things we
[00:25:48] Joy Sharma: through.
[00:25:48] Jan Almuni: launched with this brands, 'cause obviously in seven figure brands, you cannot bet that high. cannot
[00:25:53] Richard Gaffin: Mm-hmm.
[00:25:53] Jan Almuni: offer is gonna work for sure. I'm putting all the spend behind one of the tactics we're running. For example, labor Day is a clear example. I'm starting one day before with this kind of member programs.
We're also gonna talk about retention. But this kind of member programs, which is you have one day early access and depending on the results of that early access, I can bet more or less meaning I can put open caps, I can spend more. 'cause I know people are willing to come back and the offer is actually working. And if the, the email has not worked. I normally tend to tell my clients, you're returning customers, our customers who already love the product, and those are the ones that you need to ask first. If they're willing to like, love, come back for the offer. And it's like I send them an email, Hey guys, this offer is, is working for you, as Joy said, right?
Labor Day. Do you think it's good? The Labor Day message, which obviously I don't, we don't message it like this, it's just kind of calling it like that. If it. with them if they listen to that and they love it. I'm pushing hard on Madras 'cause I know it's gonna be a good moment to acquire people. I think that's how we
[00:26:54] Richard Gaffin: Yeah.
[00:26:54] Jan Almuni: And that's on a, like I love you said every single month. Yes. That's every single month.
[00:26:59] Richard Gaffin: Yeah.
[00:26:59] Jan Almuni: figure businesses are more volatile and then you need to have a higher speed. 'cause then to reach eight figure and to establish as an eight figure, then you can. To play higher tactics, but in seven figure businesses is a quick market.
'cause you have a lot of competitors. You also have the big brands they can go slow, but
[00:27:18] Richard Gaffin: Mm-hmm.
[00:27:19] Jan Almuni: getting the market. And then you need to be a bit faster in this, in this game.
[00:27:23] Richard Gaffin: Yeah. No, I mean, and there's a good point too about like, just generally the value of planning ahead. And I think that's definitely something that is very difficult at a smaller scale where you're always struggling to see like, how are we gonna make our revenue number this month? When really, like, if you wanna find success, we have to be thinking about is next month and the following month and the following months, revenue numbers as well, and making sure that you're planning ahead of time for that.
Okay. Cool. Let's let's scoot on to number three here. We're talking about landing pages and persona testing, so, talk to us a little bit about what that looks like in the seven figure environment.
[00:27:56] Jan Almuni: I think here in the seven figure business, you also we also mentioned offers, like it's kind of,
[00:28:01] Richard Gaffin: Mm-hmm.
[00:28:01] Jan Almuni: pages, personas. It's based on, we normally what we do is build kind of a customer journey, a different kind of offer, which is not based on the evergreen, like selling one product. It's actually bundling three products.
It's actually putting the product a with like the refills for example. kind of building an offer that it's super that's the offer, right? That's super nice for, as we call it, acquisition offers, entry offers, which is super nice for the customer to entry the brand to understand the brand.
We are seven figure businesses. We are not selling because the huge name we have behind li right? Nine figure, 10 figures. They sell by the name we have to sell by. Hey, test the product. Do you love it? And then with this kind of offers, normally what we do is we black them out. use a blacked
[00:28:43] Richard Gaffin: Mm-hmm.
[00:28:43] Jan Almuni: page, we send new customers to the landing. With that offer in the, in the landing pages is the same with landing, like with different messages, not offering anything, just testing a message.
[00:28:55] Richard Gaffin: Mm-hmm.
[00:28:55] Jan Almuni: with like kind of the three are the same kind of dynamic, which is kind of building a landing page blacked out, not in the website. Launching
[00:29:03] Richard Gaffin: Mm-hmm.
[00:29:04] Jan Almuni: landing pages and then test if it's incremental.
That's the most important part. Is the
[00:29:10] Richard Gaffin: Mm-hmm.
[00:29:10] Jan Almuni: more incremental that where we are launching an evergreen or in a moment, is that differential Then if it's differential incrementality, meaning it's two x three x, like getting us the two x raw and two x revenue, then we can push it on the homepage. Actually, we
[00:29:24] Richard Gaffin: Mm-hmm.
[00:29:25] Jan Almuni: that he has retail and it's like, oh, can I push it also on retail? Yes. If it's actually differential. Then we can talk about a full strategy of the business, but the, at the end of the day, kind of offers our full we have a great example, which is kind of the machines of shaving and it's like. put the shaving machine refills and then it's like the offer is super easy to acquire. The, the machine, the shaving machine, that's the entry
[00:29:48] Richard Gaffin: Mm-hmm.
[00:29:49] Jan Almuni: It's like I'm getting you much cheaper. It's kind of a SaaS tactic. It's, I'm getting you cheaper to entry.
[00:29:54] Richard Gaffin: Yeah.
[00:29:55] Jan Almuni: it as I know my product.
'cause obviously founders and and CEOs know that their product is super good. That's the best thing about them, like about these businesses and they want to substitute the market. It's like I'm letting people test the product. It's super good. You love it. Now I'm charging you normally. If we can do subscription business model, that's, that's amazing.
That's one of the best things 'cause we're trying to build a Mona Lisa of, of c, d, C, but if we're trying to resell them as a subscription, that's amazing. If not, we use tactics of even marketing. We do, we drop them with the marketing calendar. Right. And we try to at least build. keep, acquiring from ascus.
We have given them this differential price to test the, the product
[00:30:36] Richard Gaffin: Mm-hmm.
[00:30:36] Jan Almuni: works super good. We have tested that with several brands. It actually have been coming to the homepage to, with some, some brands that we run.
[00:30:45] Richard Gaffin: Yeah. So real quick, because I don't think I've heard of it, what's the Mona Lisa of CTC.
[00:30:50] Jan Almuni: Monali at CDC. It's actually based on a tailored suite. It's actually
[00:30:55] Richard Gaffin: Oh yeah. Yeah.
[00:30:55] Jan Almuni: super important. We're gonna talk it on retention, but I think one of the most important parts here the keep stacking customers. Don't forget about them because we have talked right now one of the four main points of seven figure. They love acquisition. That's awesome. They love to acquire customers to keep launching ads, to keep acquiring customers. sometimes you need to figure it out to go back to your customers and be like, Hey guys, come back. 'cause I need your LTV. That's in the SaaS industry. I've worked with several SaaS companies. They know that from day one, they're willing to give you free the product, right? But then they know they need to give you LTV to justify the c. In some e-com that I'm seeing, they forget about the returning. Even with one product, they forget 'cause it's like they're not gonna purchase my product again. then they don't test the offers. They don't test landing pages. They actually don't test. And that's important part messages, right? Personas, which could actually buy more than two. One angle that I really
[00:31:53] Richard Gaffin: Mm-hmm.
[00:31:55] Jan Almuni: Like, oh no, I only say one uni product. People are not gonna buy one more.
Like for example, I don't know, like, mm. Sha like shaving cream or something like that. Or, or chaps, like they're gonna, this is CPG, but when once is one product like a pen, right? It's like only one person is gonna buy one. But you forget about if the gifting site, for example, some people can buy more than one, more than once in a month.
'cause if they're gifting
[00:32:19] Richard Gaffin: Mm-hmm.
[00:32:19] Jan Almuni: as a gift they need is a success and people love it, they're gonna keep coming. That's some
[00:32:24] Richard Gaffin: Mm-hmm.
[00:32:24] Jan Almuni: testing it on a blackout landing page. we push on a menu, on a, on a header or whatever building kind of offers.
[00:32:31] Richard Gaffin: Mm-hmm.
[00:32:32] Jan Almuni: important for
[00:32:32] Richard Gaffin: Yeah.
[00:32:33] Jan Almuni: businesses.
[00:32:34] Richard Gaffin: So just to clarify too, how are, how are you measuring the incrementality of a landing page versus business as usual, let's say?
[00:32:41] Jan Almuni: We normally run the uni economics and that's super important 'cause obviously we're paying cac. Normally we have an Excel that we run with the. With the offer, with the unit economics based on the price. 'cause normally the price is reduced with discounts. Then we put the cost of delivery, then we put the CAC and then we calculate our A MER target. If we actually see that this A MER is actually bringing us more profit month over month because we are retaining them and actually it's bringing us more revenue, more LTV than the Evergreen offer, then it's when we're seeing it's an incremental value. 'cause even if
[00:33:12] Richard Gaffin: Mm-hmm.
[00:33:13] Jan Almuni: bit more cac. It's actually bringing more profit to the business.
And then that
[00:33:17] Richard Gaffin: Right.
[00:33:18] Jan Almuni: if it's much, it needs to be a bit differential 'cause you're playing with putting it on the homepage. Like the other part is normally we, we have this with some clients. Well you can still run the every like the offer in a blackout page and keep it there and don't move it. But normally if it's incrementality calculating the unit economics based on LTD of month over month, once you see the difference, like, once you see the difference of unit economics based on evergreen, Right.
of the kaan evergreen, then you launch it on, on the home bit. That's the, that's the calculation we run.
[00:33:48] Joy Sharma: Yeah, I think. Jan means incremental profit, like not roas, attribution, incrementality. He just means like more
[00:33:56] Richard Gaffin: Right. That makes sense.
[00:33:57] Joy Sharma: acquiring it and net new customer agree.
[00:33:59] Richard Gaffin: Sure.
[00:34:00] Joy Sharma: Also, I think like a hot take on landing pages for seven figures. Business should be, I don't think you should ever do CRO if you're a seven figure business.
You would just never
[00:34:11] Richard Gaffin: Mm-hmm.
[00:34:11] Joy Sharma: of conversion rate optimization and like, this is the funniest thing ever because when you're seven figure business, like 95% of your traffic is paid. And if you are running it with CDC or you're running it with everyone, what happens is you don't see instant changes in conversion rate.
What happens is, like, if you remember, the algorithm for cost cap is like it's estimated action rate. So if you actually are ever able to improve your conversion rate, that
[00:34:33] Richard Gaffin: Yeah.
[00:34:33] Joy Sharma: spend more until the conversion rate goes down. So essentially like there's no CVR, like your conversion will
[00:34:39] Richard Gaffin: Interesting.
[00:34:39] Joy Sharma: because of CO. I think it works differently for eight figure business when you have organic and you have direct and you have so many different things, but like CR doesn't work and also like they're super expensive. They're super long to projects and I think the best CR hack for seven figure businesses is like we, I think Taylor talked about this in admission, which sort like the best CR hack for seven figure business might be.
Instead, if you have a, if you're selling dog food, if you make a new landing page where you run German chef with dog food ads to a German chef with dog food landing page, that's gonna actually do the same impact. You're gonna unlock
[00:35:10] Richard Gaffin: Yeah. Interesting.
[00:35:11] Joy Sharma: you would've improved your convert,
[00:35:12] Richard Gaffin: Yeah, no, that's good because that's definitely a question that we get a lot, at least in admission too, is like, wow, what should I do to for CRO or whatever. And it's like, yeah. I mean, I think even on the level of like, there's probably some tweaks that you can make to make it slightly better or whatever, but at a certain point it's like, if people know they wanna buy, they're gonna buy and messaging it properly is gonna be the, the best hack for that anyway.
Okay. Let's let's jump to our last point here, which is around retention. So yeah, talk to us a little bit about like what. Growing this piece looks like for brands in this kind of seven figure range.
[00:35:42] Jan Almuni: Totally. And here is important 'cause normally retention, we use the email, like we use the email side. We use the SMS side. But the most important part is using the acquisition already planned ahead about retention. Don't think about
[00:35:58] Richard Gaffin: Hmm.
[00:35:58] Jan Almuni: when you have acquired 1 million customers and they have churn, you need to start thinking about retention or while you're acquiring customers because I think that's important.
We see a lot of net active files, which is what we call here in C, D, C, the net active file of customers based off net customers, new net customers. And then we have the at-risk customers. We see a lot of at-risk customers churn. 'cause normally at CDC, we have the average of 180 days, more or less like. Six months once the customer is churned.
And we see that like if you have not been able to sell him. Another thing on meta ads for meta, it's like a new customer, so you are gonna pay full cac. And as we know, like because of lot of shitty cohorts, like CAC is always increasing because everyone is more expensive than the last. And then if you're not thinking previously about this retention, you're not thinking about what we said, right?
Testing offers. Testing an offer that actually has a subscription. Testing a landing page to kind of mem like with a message of members with a message of collection is, for example, with jewelry brands, then you're not thinking about a customer that is going going to come back. You're just acquiring
[00:37:03] Richard Gaffin: Mm.
[00:37:03] Jan Almuni: just to build your higher number. the end of the day, some business are coming that they are running from for years, and you see how many customers they have acquired in the past, because they don't have these retention mechanisms, they are not getting the cash from them again. just losing them and maybe they acquired a bit again with new offers.
Or for example, in Black Friday, we reacquired a lot of customers, but at the end of the day, we pay a lot of cash for them. Whilst when you drop a subscription, when you drop a member program, when you drop, reusable products. 'cause that's also, you need to be thinking like within the customer journey that we, we talked about in landing pages, right?
When you say this message for example, Joyce said about dog food, right? If you talk to that owner about, first you need to give them this because he's zero and one H one year, sorry. Then between two years and five years, you. Send a second product. Then between five and six you have this product. Then it's kind of this customer journey that they need to obviously keep purchasing to come to the back, to the
[00:38:03] Richard Gaffin: Mm.
[00:38:03] Jan Almuni: It doesn't need to be a subscription, it can be a subscription. But then they are keeping, you are building your offer and your product towards an LTV towards building up returning revenue. And that's when I told you about the p and the sending emails.
[00:38:17] Richard Gaffin: Mm-hmm.
[00:38:18] Jan Almuni: are the people you need to be talking more. 'cause they're, they are the customers that are building your business actually. Don't
[00:38:23] Richard Gaffin: Mm-hmm.
[00:38:24] Jan Almuni: about them and keep acquiring more customers. Sorry. I think it's keep a, keep talking to them.
Keep building. For example, with product development, which is one of the horizontal growth of retention, you need to ask your customers, which product do you think is the best one? And one of the tactics in all the, in all the playbook we have talked today, one of the most important parts, and I think Joey agree with me, is have you interviewed your customer?
Are you talking with your customers? Using it for ads, which actually works fantastic. But no, no, really talking to your cus like interviewing your customer and being with, talk with them, how they use the product. What do you think it's lacking? What do you think it's best? Because then they give you a lot of ideas to testing ads, which is great to acquire more people, but also they give you ideas of how to evolve the product, how to evolve the offer. And that's how you can get a lot of ideas. And that's building a retention strategy based on, and we normally tell them, don't build only a calendar to acquire, build a calendar and a strategy to retain them. That's super
[00:39:20] Richard Gaffin: Mm-hmm.
[00:39:21] Jan Almuni: you don't need to lose those customers. Actually, those customers, we can, we, if we can please.
Let's not pay C anymore. That's Mona Lisa. Because if you can stack customers, they're gonna give you the cash every single month to acquire more customers, which are gonna be more expensive. But at the end of the day, 9, 10, 11 figure businesses are this business that have a customer over years and years and you. purchasing. Keep purchasing. Like big drinking brands are the ones that you keep purchasing. Keep purchasing, they never lose you. And then, then they have become you a fan they stack customers. And then the new ones, they acquire them and they pay a lot of C, right? They do the huge ad to acquire even more customers.
Even sometimes they buy business, right? But they do these high bets 'cause they have so many customers on the backend. That they are allowed, and that's important to see retention in every single step. We talk like it's kind of a playbook, That it's linear. The retention part is important in every single step.
[00:40:21] Richard Gaffin: That makes sense. And I think like one thing that we've talked about a lot on this podcast is sorry, I'll, I'll get to you real quick. One thing we talk about a lot in this podcast is that your email list is the lowest hanging fruit. And the amount of brands that are at this level that are actually taking full advantage of it is like relatively low.
And so if you can begin to tap into just getting your basic flows set up, like that type of thing, like that's, there's a huge opportunity there to crack open. But sorry to cut you off. Joy, why don't you go ahead and jump in here.
[00:40:47] Joy Sharma: I think it was just a comment that, I'm actually sad that you said I don't
[00:40:50] Jan Almuni: Yeah.
[00:40:51] Joy Sharma: the
[00:40:51] Richard Gaffin: Sure.
[00:40:51] Joy Sharma: like I don't, I think we need to make that part so famous because like us being an agency, like people only come to us when there's a problem. And most of the time the problem is year over year. I'm not growing, like looking at the last month, looking at the last three months, year over year, I'm shrinking 70% of the times when we actually look at it. It's not that their new customer acquisition is lacking year, year, it's actually returning revenue. And then we are sitting there like, like this is not a problem I solved today. Like this was a problem that I was supposed to solved like six months ago because your file started shrinking. And I actually think that net active customer
[00:41:22] Richard Gaffin: Mm-hmm.
[00:41:22] Joy Sharma: is a thing that no seven figure business ever looked at. There's actually no Shopify report to look at it
[00:41:28] Richard Gaffin: Yeah.
[00:41:28] Joy Sharma: need status for it. There's no two
[00:41:30] Richard Gaffin: Yeah, no, yeah, that's a good point. I mean,
[00:41:33] Joy Sharma: a
[00:41:33] Richard Gaffin: and just to kinda like,
[00:41:34] Joy Sharma: piece of information.
[00:41:35] Richard Gaffin: summarize that a little bit or rather kinda like define it more clearly, like net active customers is, if you've been listening to this podcast, you'll definitely have heard of it before following our content. That's the idea of.
Essentially it's like the, the amount of customers who have recently purchased and are kind of in that window before they quote unquote churn or would have to repurchase. And again, like you're saying, there's no real way to track that outside of stats, but having some understanding of how many net active customers you have and whether that file is growing or not, as opposed to whether or not just overall revenue is growing or your overall number of customers is growing, is really, really crucial to understanding like.
How well you're actually acquiring new customers. So yeah, that's, that's a super, super important thing to focus on.
[00:42:14] Jan Almuni: one
One part that
[00:42:15] Richard Gaffin: yeah.
[00:42:15] Jan Almuni: tell seven figure businesses. Is to also think about LTVC and that's a profitable cac.
[00:42:21] Richard Gaffin: Mm-hmm. Right.
[00:42:22] Jan Almuni: some of the business Joy said, never think about this. At net acquisition in ours and status, one of the most important parts, which I love is the at risk.
Like all my, all my clients, all the ARI to clients have looked now at the at risk 'cause is this between end of their life and when they churn.
[00:42:40] Richard Gaffin: Mm-hmm.
[00:42:40] Jan Almuni: when
[00:42:40] Richard Gaffin: Mm-hmm.
[00:42:41] Jan Almuni: need to pay full cock. Then what I call
[00:42:43] Richard Gaffin: Mm-hmm.
[00:42:43] Jan Almuni: cock is. Don't give them, like don't give them a, give them a discount a little bit below CAC to at least
[00:42:51] Richard Gaffin: Mm-hmm.
[00:42:51] Jan Almuni: a roll. 'cause once they turn, you need to pay full C again. Then if you do
[00:42:55] Richard Gaffin: Yeah.
[00:42:56] Jan Almuni: if you do them a discount, a small discount just for them, they will keep first the attention, which is super important. For example, now that we're running on Black Friday, the most important for next three months is keeping the attention of all the customers for this year. if you lose the attention of someone in October, that's the worst thing. 'cause they will not come on Black Friday. month
[00:43:15] Richard Gaffin: Yeah.
[00:43:15] Jan Almuni: intense offers and most intense ads throughout the world, will not come to your brand at the end. You
[00:43:22] Richard Gaffin: Mm-hmm.
[00:43:22] Jan Almuni: of brands in your home. You'll not go there if you keep the attention looping. That's important. How you can do it is first email marketing. You said it like. Kind of SMS and kind of moments. Second and most important is if I cannot even get them, I'm paying a small LTV cac. The difference between LTVC, right? The small amount of money that I gave them by discount, that I do a gift or something like that. Ract, the C is actually profit. It's actually making money much cheaper than not going to acquire a new customer on, on, on media buying or on the market.
[00:43:55] Richard Gaffin: Right. Yeah. It's about thinking about the value of the customer over a specific window. But go ahead, joy.
[00:44:01] Joy Sharma: I also think like. I think the most underutilized, and this is like something that everyone should try, is the, the cheapest
[00:44:08] Richard Gaffin: Mm-hmm.
[00:44:08] Joy Sharma: give, like the formal discount is actually a gift card. And I think like it's a, it's a worthwhile discussion of having internally or what the unit economics of a gift card is.
Normally, what we have seen is like, this is the most insane thing for athletes retention or app risk customers, which is on average a gift card is used 33% of the time. So if I give you even a hundred dollars. You can just say like, the value of perceived value of a hundred dollars is actually just $33 to the business. If you structure it well in a way, like, okay, what's the tier, what's the A OV? You might actually come out to be, oh, to use this, you need to buy another product. And then the actual cost of the gift card to me is like, if I gave a hundred dollars, it's like 33% of the people are gonna use it if it's $33, but it's actually not 33. Because you need to buy a perk from me again. So it's like the cost of delivery, which if it's like say 10%, then it's like it's
[00:44:54] Richard Gaffin: Mm-hmm.
[00:44:55] Joy Sharma: discount for a hundred dollars gift card is like the best way to retention, which is we are so confident you're gonna like this again, that we are gonna give you a hundred dollars to try this perk, which is like, you buy
[00:45:05] Richard Gaffin: Yeah, yeah, yeah. No, that's
[00:45:07] Joy Sharma: card, like this is
[00:45:07] Richard Gaffin: no margin. Or rather, all right, I should say all margin giveaway, which is like, you give the gift card, it's not really like a loss to you. Yeah, I think that's a, it's a genius idea. Let's okay. We're kind of running up of time here, so let's, let's wrap it up. And one question that I'd like to ask everybody on this podcast is.
Based on like the discussion topic that we've had today, what, what's the one thing that you would give one piece of advice you would give to a seven-figure business? Listening to this, out of the four things we talked about, out of all of the kind of places this discussion has gone, what's the one thing that you would do right now to affect the most change?
[00:45:43] Jan Almuni: For, for me clearly is, Your turn.
[00:45:48] Joy Sharma: I would do the step. Next.
[00:45:50] Richard Gaffin: for it. Joy.
[00:45:51] Joy Sharma: I would do the step next, which is like, depending on where you are from the four steps we just mentioned, just do the
[00:45:56] Richard Gaffin: Yeah.
[00:45:56] Joy Sharma: one like that.
[00:45:57] Richard Gaffin: What about you? Jam?
[00:45:58] Jan Almuni: I think totally that like reading up sleeve, depending on the face that you are, I think one of the most clear thing is go to your organic. Look at which angles are working, then build an offer towards those customers. Look at the comments, look at what people is talking about. Then build an offer and landing page based off that. Black that out and test ads, the same ads that you're looking on organic. Put money behind and send them to those landings. You will see, as Joey said, CRO, you will see some more purchases. People are more happy 'cause you're answering them questions. People are actually looking at the message they were following on organic.
I think that's one of the things. Most of businesses don't do on seven figures, which is go to your
[00:46:39] Richard Gaffin: Mm-hmm.
[00:46:39] Jan Almuni: pick what is working, look at what they're talking about, use it on the offer and on a landing page test that don't run on homepage, don't run on betting. Like I tell, it's betting. When you run
[00:46:50] Richard Gaffin: Mm-hmm.
[00:46:51] Jan Almuni: homepage that you don't know if it's gonna work, that.
I think that's gonna, you will see some differential, but always obviously keep testing. And as Joey said, the most important part is keep linearly this kind of playbook that we're saying. Until you can scale to eight figures, and that's the, because scaling to nine, then it's doing this more intensely, more times, and then retain them much
[00:47:13] Richard Gaffin: Mm-hmm.
[00:47:14] Jan Almuni: at the end of times, kind of a loop.
[00:47:16] Richard Gaffin: Yeah. Love it. All right, well wise words from both of you. Appreciate it. So yeah, I mean I think that's a great summary. Like if, if wherever you are on this path, just do the next thing and the, the first thing, of course being the creative flywheel. So, yeah. So if you want to join the Global Accelerator, have these guys working for you, you know where to find us, comment thread code.com, hit the high risk button.
We'll also have a link to a page with some information about the accelerated program specifically. That'll be in the show notes so you guys can check that out as well. But, alright. Thank you, Jan. Thank you, joy. Appreciate you joining us and through everybody listening, appreciate it and we'll talk to you next time.
[00:47:48] Jan Almuni: Thank you very
[00:47:48] Richard Gaffin: See you.