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Hello and welcome to another 
episode, the Winning with 

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Shopify podcast to me, your 
host, Nick Truman. 

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Welcome to the show. 
It's so good to have you all 

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listening in. 
It's currently a ridiculous heat

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wave here in the UK. 
So if I suddenly break down and 

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start sweating and faint in the 
middle of this, apologies, but 

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it's time for another Tuesday 
tea break talks. 

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And as you've probably seen in 
the title, I've been collecting 

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over the last few months this 
list of eight things that I 

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think weight strategies for 
eight different things within a 

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Shopify business that restrict 
growth. 

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And you need a strategy for all 
of these things. 

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You cannot afford to ignore 
them. 

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So without further ado, we're 
going to jump straight in and 

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start talking about how you can 
grow Shopify store. 

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If you don't have any of these 
things in place, then I think 

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he's going to have a 
conversation with your team, 

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your partner, yourself, 
depending on how big the 

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organization is or your bosses. 
Always good to to manage you 

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say, Nick said so, which has 
never helped anyone, but you 

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can, you can try that. 
And that's my British sarcastic 

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humour right there. 
Let's go say #1 the first two I 

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think are quite obvious but I 
have split them #1 is a multi 

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channel advertising strategy. 
So many brands we work with come

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to us, to my agency. 
We do PPC and SEO and SEO 

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applies to the second one. 
But PPC applies to this pay per 

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click advertising through 
Google, through Meta and lots of

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other channels like that. 
You could use other channels we 

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don't look after like TikTok, 
for example, but one of the 

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things we find is some brands, 
they get so successful down 1 

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channel and they get hooked on 
that. 

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And the whole business is 
relying on that one channel. 

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So that one channel might 
provide 70 or 80% of all 

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revenue. 
And the problem with that is 

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there'll be a limit to how much 
you can spend on that Channel. 

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So you need a multi channel 
strategy, which in essence means

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you need multiple channels to be
working for you. 

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I'm not going to talk about it 
today because it's a whole world

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of, of confusion and arguments 
and opinions. 

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But there's a whole thing called
attribution. 

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And that's how you attribute 
sales to each channel. 

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And again, I'm not going to go 
into detail on this, but you 

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need to be really, really clear 
how you attribute each sale that

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comes through back to the 
channel that sent that traffic 

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in. 
And you might need to invest in 

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some better tracking tools than 
some of the free ones that you 

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would otherwise use, for 
example, meta attribution. 

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It did get better in March this 
year, but it's not as anywhere 

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near as as good as it should be.
And it will take credit for 

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anywhere it was even remotely 
involved in a sale and it will 

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take 100% credit for that sale. 
So if someone spent $100, Meta 

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would take the full $100 and 
say, hey, I generated $100 for 

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you. 
When actually if they clicked on

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a Google ad as well, it's like, 
well, was it Google ads? 

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Was it Meta ads? 
And if you look at some of the 

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reports and it's my final point 
on this, again, I'm not going to

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get too much details today 
because I could do hours on 

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this. 
But when you start to look at 

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your reports and you get a 
better tracking tool and you see

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actually how many channels 
people have used to purchase 

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your product. 
The more expensive and the 

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bigger the commitment the 
product is, the more times they 

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will visit your website through 
a whole multitude of sources. 

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Last example I'm going to give 
you is say you have a 10% off if

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you join our newsletter, 10% off
your first order, join our 

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newsletter and you get like a 
welcome 10 discount code or 

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whatever because of the way that
you're then signing up to e-mail

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and then clicking on an e-mail 
to go and make your purchase. 

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Was it e-mail that triggered the
purchase? 

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Was it Google ads that sent them
in on the same date or time they

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made the purchase, even though 
e-mail was technically the last 

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source, but GA 4, sorry, Google 
ads was before that, but they'd 

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previously clicked on Meta ads 
two or three times. 

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Which channel do you give the do
you give the credit to? 

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And what most brands decide to 
do is go. 

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We're just going to credit them 
all evenly, but that's easier 

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said than done with the way that
tracking works. 

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Anyway, on to #2 as I say, they 
they are links. 

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That's a multi number 1 is a 
multi channel advertising 

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strategy, specifically when 
you're paying for advertising. 

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And the second one, and this is 
something brands often miss or 

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they say, let's invest in paid 
channels because we get the 

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traffic today and we'll do that 
first, then we'll start 

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investing in SEO and other stuff
later, which are your organic 

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channels. 
So organic channels could be 

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where you build a following on 
your TikTok account or you're 

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following on your Instagram or 
your Facebook or it's SEO 

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traffic coming in or some 
journalists just pick up your 

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product and love it. 
Or some influences are like, can

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I have a free product? 
I really want to feature this 

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thing or I use it all the time. 
Can you know, can I have an 

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affiliate code? 
And that would still be 

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considered organic because 
you're not paying per click or 

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advertising with an advert to 
get that traffic in. 

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The influencer is just sending 
the traffic in. 

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And so many brands I find rely 
on either one or two. 

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They rely on an advertising 
strategy and organic strategy. 

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If you rely on both, suddenly 
it's like, all right, our SE OS 

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fallen down one day because 
Google's done an algorithm 

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update. 
But we're fine because we've got

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all these other channels still 
working for us. 

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And it's a, it's a much better 
way to build a business. 

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And certainly if you think about
selling the business one day or 

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you're looking for investment, 
you're going to really struggle 

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If it's all reliant on that one 
channel, they'll say this is a 

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very, very unsafe bet for us. 
This is not a good investment 

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for US #3 I talk about this 
quite a lot, so I won't go into 

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detail on this today, but I'm 
going to see some a couple of 

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the other ones as we get 
through. 

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But this is a lifetime value 
growth strategy. 

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What we mean by lifetime value 
is every time you get a sale or 

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you get an order in, you get a 
new customer. 

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How are you? 
You need to have a strategy as 

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to how are you going to get a 
second order, a third order, a 

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fourth order from that customer,
ideally without them using 

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advertising. 
And I find so many brands are 

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like, they just look on Shopify 
and they sort of look at the, 

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they don't look at the 'cause 
they look at the effect and they

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look on Shopify analytics and go
great. 

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On average, people are buying 
2.8 times from us. 

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That's pretty cool. 
But actually your e-mail 

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strategy kind of sucks. 
Your product packaging doesn't 

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encourage someone to want to 
come back and buy again. 

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And you don't have, which I'll 
talk about as we go on a bit 

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more. 
You don't have other. 

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I'm just checking. 
We've definitely, yeah, number 

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six, we'll come back to this. 
Number six massively applies to 

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the lifetime value, but you 
don't have a way of farming more

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orders and from that customer 
and more customers from that 

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customer as well. 
And that's lifetime value. 

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And a lot of brands are so hell,
hell bent, I think is the 

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phrase. 
They're so gung ho and trying to

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get people in from advertising, 
get new customers in all the 

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time going great. 
We've gone from 5000 customers 

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to 7000 customers over the last 
six months. 

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You're like, that is great, but 
what if your 5000 customers all 

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bought a second time? 
It'd probably cost you less and 

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be less effort. 
So if they'd all bought a second

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time, on average you would have 
made 10,000 orders rather than 

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one order per customer at 7000. 
So again, I'm making these 

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numbers up hypothetically, but 
you get the idea. 

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You need a strategy of how 
you're going to grow lifetime 

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value from all of your existing 
customers #4 this one. 

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I mean this one is mad. 
How many brands miss this? 

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This is probably one of the most
neglected things I see and it's 

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win back campaigns for lapsed 
customers. 

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It's the customers that have 
purchased before and haven't 

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purchased since, and brands do 
next to nothing to try and win 

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them them back. 
I was trying to think of the 

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song and I can't remember the 
song, but there if you imagine 

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it's like a relationship, it's 
like they're I'm never going to 

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that's it. 
I'm never going to give you up, 

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never going to let you down. 
And it's like I'm going to fight

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for you. 
I'm going to fight. 

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That was it. 
Cheryl Cole going to fight for 

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this love. 
So you want to fight for this 

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thing. 
If someone's already bought from

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you, why don't you offer them a 
discount, Offer them a discount 

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that's less than it would cost 
to acquire a new customer. 

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But these guys are already 
trained in buying. 

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You know, they already have some
habits and some loyalty to you 

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and they already buy from you. 
But you'll need to work before 

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that on some sort of report, 
some sort of warning system as 

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to when. 
When do we consider them lapsed?

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Like if every, if most customers
buy at least once within a three

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month window and it's now been 
six months since an order or you

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reach seven months and they 
still have made an order. 

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Now they go in the lapsed 
customer bucket. 

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What are you going to do? 
You're going to phone them. 

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You can send them a personalized
e-mail. 

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You could just just post them a 
free product, say, hey, we miss 

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you. 
Here's a free sample of our new 

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protein shakes. 
Like try this amazing. 

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And if you want it 30% off your 
first, your first order, you 

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know, up to 100 lbs and with a 
minimum of you've got to spend 

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at least 40 lbs, you've got to 
buy at least a kilogram of 

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protein powder. 
And again, really, really simple

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ways to do it. 
Anyway, quick sip of coffee. 

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I know how dare I drink. 
I think, I think I said it was a

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cup of tea earlier. 
How dare I drink coffee on there

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on tea break talks. 
But there we go. 

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It's been a long week and it's 
only Tuesday. 

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OK, so that's number four win 
back campaigns. 

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So when somebody has bought from
you before, hasn't bought from 

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you since, or has bought 
multiple times and stopped 

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buying, you need to win those 
guys back. 

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Write them a love song, send it 
on an e-mail. 

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That would probably be quite an 
effective piece of marketing 

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#5-A product optimization 
strategy. 

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How are you going to get 
feedback on your products from 

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your customers? 
How do you use this? 

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How do you find it? 
What doesn't it do? 

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What could it do? 
And the more you can talk to as 

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many of your customers as 
possible about that, A, you're 

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engaging with the brands, the 
more likely to come back and buy

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from you. 
And B, they're giving you all 

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the information you need to make
your product even better. 

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So a lot of the things I have 
already mentioned and will 

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continue to mention in the other
points will start happening 

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organically. 
If it's a great product, you 

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will just go back and buy 
another one. 

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So for example, one of my 
friends who runs a podcast, he 

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asked where I got this amazing 
sign from. 

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So I sent them a link to the guy
who made it and said this guy 

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made it for me. 
It's obviously custom makes, got

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a logo on it, but this guy made 
the sign and he went great. 

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I'm going to go and buy that. 
The reason I wanted to do that 

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is because it's a great sign. 
It was a great price. 

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The communication of that person
was fantastic. 

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I had a great experience and I 
wanted to share that. 

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So if you have great products, 
people will naturally want to 

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tell other people about these 
products. 

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They will also want to come back
and buy similar products. 

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Everyone's got that item of 
clothing that's just so good 

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that you want to buy another 
one. 

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You want to be that brand that's
got that product that's so good 

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you want to buy another one. 
And so good doesn't just mean 

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expensive and the best possible 
quality. 

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It might be like for people that
go to the gym once a week and 

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this top will probably only last
like 100 workouts, but then you 

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get another one. 
So maybe have some sort of 

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recycling trade back scheme, for
example, to encourage people to 

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want to do that goes back to the
lifetime value one. 

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But you need a strategy for how 
are you going to improve your 

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products over time. 
If you assume your products 

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perfect on day one, you're 
completely missing the point. 

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It will probably be the worst it
will ever be on day one. 

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It will get better from there. 
And I see so many brands so busy

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trying to sell their products, 
they don't take a step back to 

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go. 
If we made a few tweaks to this 

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thing, it wouldn't cost like to 
the design, it wouldn't cost us 

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any more to manufacture it, but 
it would be so much better and 

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it gives us something to shout 
about. 

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And everyone that's bought 
version one, hey everyone, 

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there's version 2 now. 
So product optimization 

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strategy, so important. 
Number six out of our list of 

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00:10:16,800 --> 00:10:19,200
eight, this one, I kind of 
mentioned this earlier, I'm 

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calling this a customer leverage
strategy and it kind of relates 

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00:10:23,520 --> 00:10:27,120
into referrals this and what you
want to do is encourage your 

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00:10:27,120 --> 00:10:30,440
existing customers and any 
customer that buys from you to 

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00:10:30,440 --> 00:10:33,640
convince someone else to come 
back and buy from you can have a

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00:10:33,680 --> 00:10:38,320
quick sip of coffee. 
So the genius of this is 

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someone's bought a product, you 
could even do this once. 

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They leave you a 5 star review 
for that product or for your 

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business and now you've got a 
five star review. 

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00:10:46,360 --> 00:10:49,480
You know they love you, so give 
them some sort of incentive to 

247
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introduce a friend to your 
brand. 

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00:10:52,320 --> 00:10:55,280
So you could say anyone who 
buys, here's a unique discount 

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code for you and anyone that 
uses it, they get 10% off every 

250
00:10:58,040 --> 00:11:01,760
order and we'll give you a 10% 
of whatever they spent. 

251
00:11:01,760 --> 00:11:06,320
Or we'll give you $1010.00 as 
long as they spend 100, as long 

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00:11:06,320 --> 00:11:08,520
as your friend does. 
So when people ask all those 

253
00:11:08,560 --> 00:11:09,880
really nice trainers, where are 
they from? 

254
00:11:09,880 --> 00:11:12,080
You say, oh, you get 10% off. 
Let me give you the code. 

255
00:11:12,080 --> 00:11:14,160
Let me do a referral thing. 
And again, it gives you 

256
00:11:14,160 --> 00:11:15,360
something to talk about on 
e-mail. 

257
00:11:15,440 --> 00:11:18,520
One of the biggest issues I see 
with the lifetime value growth 

258
00:11:18,520 --> 00:11:22,240
strategy falling apart or lack 
of strategy is people, they run 

259
00:11:22,240 --> 00:11:24,640
out of ideas of what to put on 
their emails to send to their 

260
00:11:24,640 --> 00:11:27,080
customers. 
So I'm a big fan of anything you

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00:11:27,080 --> 00:11:29,000
could put on an e-mail to send 
to customers. 

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00:11:29,000 --> 00:11:32,360
So a referral program to say if 
you refer, you know, if you 

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00:11:32,360 --> 00:11:36,640
refer a friend and get them to 
get them to mention your e-mail 

264
00:11:36,640 --> 00:11:39,880
address or your name once 
they've bought and we'll give 

265
00:11:39,880 --> 00:11:42,840
you both the $25 voucher for 
your your next order. 

266
00:11:43,120 --> 00:11:44,440
Something like that. 
Nice and simple. 

267
00:11:45,240 --> 00:11:47,880
OK, customer leverage strategy. 
Think of creative ways to 

268
00:11:47,880 --> 00:11:50,400
leverage your existing customers
to get more customers through 

269
00:11:50,400 --> 00:11:55,840
those guys #7 this one again, 
this is like the spreadsheet 

270
00:11:56,080 --> 00:11:59,680
boss, but so many brands missed 
this. 

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00:11:59,720 --> 00:12:03,200
And what I'm calling this is a 
strategy for margin growth. 

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00:12:03,960 --> 00:12:07,920
As you grow a business, margins 
get tighter and tighter and 

273
00:12:07,920 --> 00:12:09,760
tighter. 
Let me give you some examples. 

274
00:12:10,080 --> 00:12:13,760
Once you have a certain amount 
of staff in a physical location 

275
00:12:14,080 --> 00:12:16,480
in lots of countries, it's 
certainly the case in the UK and

276
00:12:16,480 --> 00:12:17,560
it'll be the same in lots of 
countries. 

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00:12:17,880 --> 00:12:22,400
You now need an increased level 
of risk assessments, you need an

278
00:12:22,400 --> 00:12:26,080
increased level of fire safety, 
you need an increased level of 

279
00:12:26,080 --> 00:12:30,480
HR to look after those staff. 
You need an increased level of 

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00:12:30,480 --> 00:12:33,920
financial support for the 
business, for people to make 

281
00:12:33,920 --> 00:12:37,000
sure salaries are paid on time, 
to do performance reviews with 

282
00:12:37,000 --> 00:12:40,440
all of these staff, to manage 
things like holiday and annual 

283
00:12:40,440 --> 00:12:41,720
leave. 
It's easy when there's five 

284
00:12:41,720 --> 00:12:44,160
people and you're the boss. 
You can do all do it yourself. 

285
00:12:44,160 --> 00:12:46,520
It's nice and easy. 
When there's 50 people or 100 

286
00:12:46,520 --> 00:12:49,280
people or 200 people, then it 
starts to become a bit of an 

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00:12:49,280 --> 00:12:50,800
issue. 
There are also, in some 

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00:12:50,800 --> 00:12:54,280
countries, tariffs change when 
you reach certain thresholds, 

289
00:12:54,360 --> 00:12:56,640
sometimes for the better, 
sometimes for the worse. 

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00:12:57,080 --> 00:13:00,560
Lots of manufacturers will say 
if you buy one, it costs $10. 

291
00:13:00,720 --> 00:13:03,720
If you buy 100, they cost $9.50 
each. 

292
00:13:03,960 --> 00:13:06,520
If you buy 100,000 units, 
they're $3. 

293
00:13:07,320 --> 00:13:10,720
So suddenly you're like, OK, 
same product price, but also we 

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00:13:10,720 --> 00:13:13,400
become a bigger customer to that
supplier. 

295
00:13:13,400 --> 00:13:15,600
So they're going to give us some
special treatment, maybe help us

296
00:13:15,600 --> 00:13:17,520
improve the design of our 
product a little bit and we're 

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00:13:17,880 --> 00:13:19,520
going to get a much, much better
price. 

298
00:13:19,520 --> 00:13:21,440
So factor this into your growth 
plan. 

299
00:13:22,000 --> 00:13:24,680
But again, lots of businesses as
they grow, they might start with

300
00:13:24,680 --> 00:13:30,440
like an 80% margin and then 60% 
of the product price remains in 

301
00:13:30,440 --> 00:13:32,440
the business is like gross 
profit or net profit. 

302
00:13:32,440 --> 00:13:34,560
This is pretty good. 
But as the business grows, 

303
00:13:34,560 --> 00:13:37,320
that's going to come down to 
like 5 or 10% in total. 

304
00:13:37,520 --> 00:13:39,080
And those are pretty thin 
margins. 

305
00:13:39,320 --> 00:13:42,320
So one thing you can do is plan 
to increase the prices of your 

306
00:13:42,320 --> 00:13:44,280
products given that all your 
business costs are going to go 

307
00:13:44,280 --> 00:13:45,480
up over time. 
So going to have to increase 

308
00:13:45,480 --> 00:13:48,040
those and if you do them at the 
same rate, your margin stays 

309
00:13:48,040 --> 00:13:51,080
flat, which is quite good when 
you're growing to keep a flat 

310
00:13:51,080 --> 00:13:53,680
margin there. 
Lots of brands make a loss until

311
00:13:53,680 --> 00:13:57,600
they reach like those thresholds
for OK, we can send all our own 

312
00:13:57,600 --> 00:13:59,880
products out now from our own 
warehouse. 

313
00:14:00,040 --> 00:14:03,320
That's cheaper than paying A3PO 
service, which I don't know if 

314
00:14:03,320 --> 00:14:06,600
it is, but for example, you can 
get quotes from these guys and 

315
00:14:06,600 --> 00:14:08,360
say we're small now, but we're 
planning ahead. 

316
00:14:08,360 --> 00:14:10,080
If we were to come to you, how 
much would it cost if we had 

317
00:14:10,240 --> 00:14:12,600
this much stock, this many 
orders a month, etcetera, 

318
00:14:12,600 --> 00:14:14,200
etcetera, and we're shipping to 
these locations. 

319
00:14:15,000 --> 00:14:17,200
So you need a strategy for how 
you're going to grow your 

320
00:14:17,200 --> 00:14:19,440
margins. 
The more your margins grow, the 

321
00:14:19,440 --> 00:14:21,120
more aggressive you can be on 
advertising. 

322
00:14:21,400 --> 00:14:25,000
And you'll find with advertising
that the, the more you try and 

323
00:14:25,000 --> 00:14:27,360
get, the more you increase sales
or increase spend. 

324
00:14:27,360 --> 00:14:31,120
In a channel like Google, your 
ROI, it, it, it will fluctuate. 

325
00:14:31,120 --> 00:14:33,520
There'll be certain points where
actually if we spend more ROI 

326
00:14:33,520 --> 00:14:35,600
increases because the platform 
has more data, it can make 

327
00:14:35,600 --> 00:14:37,360
better decisions. 
It can help us find more 

328
00:14:37,360 --> 00:14:39,880
profitable customers. 
There'll be other points where 

329
00:14:39,880 --> 00:14:42,440
you reach a limit and go. 
There are only so many people 

330
00:14:42,440 --> 00:14:44,400
looking for this product now in 
our ad show in front of every 

331
00:14:44,400 --> 00:14:46,280
single one of them. 
So they're going to start 

332
00:14:46,280 --> 00:14:48,240
getting ad fatigue. 
So what we now need to do is 

333
00:14:48,240 --> 00:14:50,920
look at other channels where 
we're going to have a lower ROI,

334
00:14:50,920 --> 00:14:53,720
a lower return in investments 
because we're going to have to 

335
00:14:53,720 --> 00:14:56,640
show them an advert on something
like Meta or TikTok and convince

336
00:14:56,640 --> 00:14:59,240
them to buy it, which is going 
to be harder than someone who's 

337
00:14:59,240 --> 00:15:01,480
already looking for that product
on Google. 

338
00:15:01,480 --> 00:15:04,720
So the margin growth strategy, I
think is incredibly important. 

339
00:15:04,720 --> 00:15:08,360
And again, I don't really hear 
any brands talk about it that 

340
00:15:08,360 --> 00:15:09,960
much. 
It's normally an afterthought 

341
00:15:09,960 --> 00:15:12,400
of, Oh my gosh, we're not making
any money anymore panic. 

342
00:15:12,520 --> 00:15:14,200
We need our margins to be put 
the prices up. 

343
00:15:14,200 --> 00:15:16,480
Oh no, we're losing sales. 
And it's all done as a bit of a 

344
00:15:16,480 --> 00:15:18,000
gut reaction. 
And the business is in quite 

345
00:15:18,000 --> 00:15:19,520
dire straight at that that 
point. 

346
00:15:19,760 --> 00:15:22,880
If you plan to increase your 
margins by 5 or 10% a year, 

347
00:15:23,560 --> 00:15:25,080
that's a very different way of 
looking at the business. 

348
00:15:25,080 --> 00:15:26,240
It makes you so much more 
secure. 

349
00:15:26,240 --> 00:15:27,200
You're going to be more 
profitable. 

350
00:15:27,200 --> 00:15:29,600
You can probably grow a lot 
faster in doing that. 

351
00:15:30,280 --> 00:15:34,200
Number 8, this one, don't switch
off if you hear the first half 

352
00:15:34,200 --> 00:15:37,640
of this statement, but this one 
is you need an exit strategy. 

353
00:15:37,840 --> 00:15:39,880
And that's the first part. 
The second part is even if you 

354
00:15:39,880 --> 00:15:43,880
don't plan to exit, I've exited 
a few businesses. 

355
00:15:44,080 --> 00:15:46,440
I'm not planning to exit my 
current one, but I run it as if 

356
00:15:46,440 --> 00:15:48,640
I could. 
The reason I do that is it 

357
00:15:48,640 --> 00:15:51,800
forces you to do things like 
keep your accounts in order in 

358
00:15:51,800 --> 00:15:53,840
case somebody else needed to 
look at them to value your 

359
00:15:53,840 --> 00:15:55,200
business and thinking of buying 
it. 

360
00:15:55,760 --> 00:15:58,520
If you're, if you are in a 
position where you could exit 

361
00:15:58,520 --> 00:16:01,040
your business at any point, 
whether you want to or not is 

362
00:16:01,120 --> 00:16:02,600
fine. 
But if you're in a position 

363
00:16:02,600 --> 00:16:05,000
where you could exit it at any 
point, that means the business 

364
00:16:05,000 --> 00:16:07,480
could run without you without 
the owner. 

365
00:16:07,880 --> 00:16:10,520
And if the business can run 
without the owner, that means 

366
00:16:10,560 --> 00:16:13,880
you've automated all of your 
processes and set up some good 

367
00:16:13,880 --> 00:16:18,240
levels of resilience that if 
you're 1 marketing person left, 

368
00:16:18,400 --> 00:16:20,960
what happens? 
If you weren't there doing 

369
00:16:20,960 --> 00:16:24,040
product design and development 
anymore, what happens? 

370
00:16:24,200 --> 00:16:26,840
So in terms of growth strategy, 
again, these are all going to 

371
00:16:26,840 --> 00:16:29,160
eat into your margins, but it's 
going to make the business run 

372
00:16:29,160 --> 00:16:32,160
more like a well oiled machine 
and not be reliant on any single

373
00:16:32,160 --> 00:16:34,840
individual or single supplier, 
which means you might need 

374
00:16:34,840 --> 00:16:38,000
multiple suppliers, you need 
multiple advertising channels, 

375
00:16:38,000 --> 00:16:40,880
you need a wide product range. 
If a few products suddenly go 

376
00:16:40,880 --> 00:16:43,440
out of stock or flop, we've not 
lost all of our revenue. 

377
00:16:43,920 --> 00:16:46,560
And also things like developing 
and designing products long 

378
00:16:46,560 --> 00:16:48,360
term. 
You want to build a business 

379
00:16:48,360 --> 00:16:50,800
plan that's like, OK, we need 
four people working on that. 

380
00:16:50,800 --> 00:16:53,360
We need a marketing team of 10. 
We need warehouse staffing of 

381
00:16:53,640 --> 00:16:55,440
between 5 and 15. 
If we're going to do that bit 

382
00:16:55,440 --> 00:16:57,760
ourselves, if we're going to 
manufacture, you just don't want

383
00:16:57,760 --> 00:16:59,880
to have one person, any one of 
these roles. 

384
00:17:00,240 --> 00:17:02,160
It's an amazing business. 
We've had on the show a couple 

385
00:17:02,160 --> 00:17:03,480
of times. 
I won't say their names so that 

386
00:17:03,480 --> 00:17:06,640
I can say a bit more about them,
but they had this amazing e-mail

387
00:17:06,640 --> 00:17:09,640
guy and he came in and scaled up
their e-mail database. 

388
00:17:09,640 --> 00:17:12,040
I think it was a multiple of 
like 5, like literally five 

389
00:17:12,040 --> 00:17:15,040
times the e-mail database size 
in about 3 or 4 months. 

390
00:17:15,520 --> 00:17:18,560
And they went from about 5 or 
10% of their revenue coming from

391
00:17:18,560 --> 00:17:23,000
e-mail from existing customers 
up to about 60 percent, 60, 

392
00:17:23,280 --> 00:17:25,880
absolutely flying. 
And then he went off and started

393
00:17:25,920 --> 00:17:28,280
his own business and the 
business was absolutely stuffed.

394
00:17:28,280 --> 00:17:31,840
It was so reliant on that e-mail
revenue coming in and no level 

395
00:17:31,840 --> 00:17:33,720
of handovers and other stuff 
would really help. 

396
00:17:33,920 --> 00:17:36,240
Fortunately, he came back in one
day a week as a consultant and 

397
00:17:36,240 --> 00:17:37,680
trained up a few other people to
run it. 

398
00:17:38,280 --> 00:17:40,800
But again, hindsight's a great 
thing, right? 

399
00:17:40,800 --> 00:17:42,960
They probably should have got 
that person in there working in 

400
00:17:42,960 --> 00:17:45,640
that already. 
If you're not an owner, if 

401
00:17:45,640 --> 00:17:48,560
you're working in a business and
listening to this, I think the 

402
00:17:48,560 --> 00:17:51,360
same thing applies like you're, 
whether you're working in 

403
00:17:51,360 --> 00:17:53,920
marketing or you're in product 
development or web development. 

404
00:17:54,280 --> 00:17:56,960
If you've, if you're the only 
person in your role, have a 

405
00:17:56,960 --> 00:17:58,800
conversation with your boss, 
say, look, I'm not planning on 

406
00:17:58,800 --> 00:18:01,880
going anywhere, but I'm so 
reliant on this person. 

407
00:18:01,880 --> 00:18:04,080
And if they suddenly left, I've 
got a massive problem. 

408
00:18:04,520 --> 00:18:07,640
So why don't we work out some 
resilience solutions here as 

409
00:18:07,640 --> 00:18:08,920
well? 
And I think that's the the exit 

410
00:18:08,920 --> 00:18:12,080
strategy is let's make the 
business good enough that if 

411
00:18:12,080 --> 00:18:15,200
anyone exited, not just the 
owner, it would still be a good 

412
00:18:15,200 --> 00:18:17,680
business. 
It would still run as normal and

413
00:18:17,680 --> 00:18:19,600
it would still thrive. 
And that's really, really 

414
00:18:19,600 --> 00:18:20,920
important. 
I'm going to read the list that 

415
00:18:20,920 --> 00:18:22,560
again and then we'll say goodbye
until Friday. 

416
00:18:22,960 --> 00:18:26,200
Say #1 you need a multi channel 
advertising strategy #2 you need

417
00:18:26,200 --> 00:18:29,600
an organic marketing strategy, 
free traffic #3 you need a 

418
00:18:29,640 --> 00:18:33,440
lifetime value growth strategy 
to get more sales and more 

419
00:18:33,440 --> 00:18:34,960
revenue out of every customer 
that you get. 

420
00:18:35,560 --> 00:18:38,280
You need a win back campaign for
lapsed customers that stop 

421
00:18:38,280 --> 00:18:40,520
buying from you. 
You need a product optimization 

422
00:18:40,520 --> 00:18:42,800
strategy to improve your product
at all times. 

423
00:18:43,000 --> 00:18:45,280
You need a customer leverage 
strategy, actually, my second 

424
00:18:45,280 --> 00:18:48,480
hand, a customer leverage 
strategy so you can leverage 

425
00:18:48,480 --> 00:18:50,760
your existing customers to get 
more customers or more revenue 

426
00:18:50,760 --> 00:18:52,960
from those guys, which kind of 
feeds into the lifetime value 

427
00:18:52,960 --> 00:18:54,320
one. 
These all kind of tied together 

428
00:18:54,560 --> 00:18:57,920
#7 is a strategy for growing 
your margins and making more 

429
00:18:57,920 --> 00:18:59,680
money per order, per product, 
etcetera, etcetera. 

430
00:18:59,680 --> 00:19:01,240
Because you're going to need to 
do that as you grow. 

431
00:19:01,560 --> 00:19:04,240
And #8 an exit strategy. 
Make sure no individual in the 

432
00:19:04,240 --> 00:19:07,280
business, we'll make sure the 
business is not reliant on any 

433
00:19:07,280 --> 00:19:09,240
single individual. 
I hope you enjoyed today. 

434
00:19:09,240 --> 00:19:11,240
If you haven't already, please 
leave us a review on whatever 

435
00:19:11,240 --> 00:19:12,960
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You know where that five star 

436
00:19:13,520 --> 00:19:15,360
review button is. 
Please click that wherever 

437
00:19:15,360 --> 00:19:17,040
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And if you haven't already, go 

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00:19:17,040 --> 00:19:18,240
and check out our newsletter as 
well. 

439
00:19:18,240 --> 00:19:20,680
It's quite basic at the moment, 
but we're going to be expanding 

440
00:19:20,680 --> 00:19:22,440
that over the next few months. 
Something very exciting coming 

441
00:19:22,440 --> 00:19:23,400
along. 
I'm going to be announcing in a 

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00:19:23,400 --> 00:19:26,400
few weeks time as well. 
So make sure you engage with us.

443
00:19:26,400 --> 00:19:29,280
Hit subscribe if you haven't or 
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00:19:29,280 --> 00:19:31,040
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And we're back again on Friday 

445
00:19:31,040 --> 00:19:32,600
with an amazing guest. 
Thanks for tuning in. 

446
00:19:32,840 --> 00:19:33,480
See you on Friday.