"12 ways to show your value"
from Wes Kao, Co-founder at Maven.
"Most companies suck at communicating the value of their product or service. Here’s how to instantly show your value:
1. Pour salt on the wound: No pain, no sale. People will only value your solution if they value their problem. If they don’t think their problem is that bad, they won’t pay you to solve it. When in doubt, emphasize the pain. Painkillers sell better than vitamins.
2. Use before-and-after: An effective before-and-after skips all the boring parts. It’s like a jump cut in a movie. It emphasizes *contrast*. This heightens drama and interest. The best before-and-afters make you say wow.
3. Don’t jump right to the solution: Instead, explain how much $ the problem costs and how it’s making your customer’s life hard. Then talk about your product & how you’ll make their problem go away.
4. Show, don’t tell: I came across AI-driven software that reduces background noise on Zoom calls. Their website has a toggle on/off button where you can hear a sound sample without vs with their tool. That demo was worth 10,000 words.
5. Increase desire, don’t just decrease friction: People jump through hoops for things they want. Did you pick your spouse because they were the most convenient option? Of course not. You picked them despite obstacles.
6. Explain "why now?": Most folks AGREE that your product is great--but they still don’t buy. What they’re really thinking: “Do I need this enough to pay $ right now? Or can I do this later?" Later often means never.
7. Be/Do/Have: This is a classic framework in leadership coaching but applies to marketing. What does your product let your customer *be* that they weren’t before? What can they *do* now that they couldn’t do before? What do they *have* now that they didn’t have before?
8. Aim for “no-brainer status": You need to aim for an instant yes. Not a yes after 100+ touchpoints of nurturing. Think about what would get that reaction. You likely won’t get an instant yes. But if you aim for it, it’ll speed up getting there.
9. Do what makes their eyes light up (ELU): You can tell when people listen to be polite. But there are moments when aliveness flashes in their eyes--you just said something they care about. Watch for ELU. It's data on what to do more of.
10. Avoid backstory scope creep: It's easy to get carried away sharing background info. Remove 90% of it. You need less backstory than you think.
11. Focus on what your customer wants to hear, not what you want to talk about: This is an easy way to trim from your pitch.
12. Consider overhauling: If you’re struggling to describe your product’s value, figure out if the problem is (A) the marketing or (B) the offer itself. If your underlying offer isn’t good, no amount of improving the marketing will help."
from Wes Kao, Co-founder at Maven.
"Most companies suck at communicating the value of their product or service. Here’s how to instantly show your value:
1. Pour salt on the wound: No pain, no sale. People will only value your solution if they value their problem. If they don’t think their problem is that bad, they won’t pay you to solve it. When in doubt, emphasize the pain. Painkillers sell better than vitamins.
2. Use before-and-after: An effective before-and-after skips all the boring parts. It’s like a jump cut in a movie. It emphasizes *contrast*. This heightens drama and interest. The best before-and-afters make you say wow.
3. Don’t jump right to the solution: Instead, explain how much $ the problem costs and how it’s making your customer’s life hard. Then talk about your product & how you’ll make their problem go away.
4. Show, don’t tell: I came across AI-driven software that reduces background noise on Zoom calls. Their website has a toggle on/off button where you can hear a sound sample without vs with their tool. That demo was worth 10,000 words.
5. Increase desire, don’t just decrease friction: People jump through hoops for things they want. Did you pick your spouse because they were the most convenient option? Of course not. You picked them despite obstacles.
6. Explain "why now?": Most folks AGREE that your product is great--but they still don’t buy. What they’re really thinking: “Do I need this enough to pay $ right now? Or can I do this later?" Later often means never.
7. Be/Do/Have: This is a classic framework in leadership coaching but applies to marketing. What does your product let your customer *be* that they weren’t before? What can they *do* now that they couldn’t do before? What do they *have* now that they didn’t have before?
8. Aim for “no-brainer status": You need to aim for an instant yes. Not a yes after 100+ touchpoints of nurturing. Think about what would get that reaction. You likely won’t get an instant yes. But if you aim for it, it’ll speed up getting there.
9. Do what makes their eyes light up (ELU): You can tell when people listen to be polite. But there are moments when aliveness flashes in their eyes--you just said something they care about. Watch for ELU. It's data on what to do more of.
10. Avoid backstory scope creep: It's easy to get carried away sharing background info. Remove 90% of it. You need less backstory than you think.
11. Focus on what your customer wants to hear, not what you want to talk about: This is an easy way to trim from your pitch.
12. Consider overhauling: If you’re struggling to describe your product’s value, figure out if the problem is (A) the marketing or (B) the offer itself. If your underlying offer isn’t good, no amount of improving the marketing will help."
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Singapore tops list in VC funding per capital
Singapore has attracted more venture capital investment per capita in 2022 than all other countries receiving over $1 billion. Startups in the Southeast Asian city-state pulled in $4.1 billion, equivalent to around $695 for each person, PitchBook data showed.
Other small nations have performed well comparative to their size at a time when the fundraising environment for startups across the globe has been more constrained. Israel has taken second place in the list, raising $506 per capita. Finland also performed well, coming in fifth.
The US, the world's largest VC market, ranked third with $357 in VC dollars per person.
©️Pitchbook
Singapore has attracted more venture capital investment per capita in 2022 than all other countries receiving over $1 billion. Startups in the Southeast Asian city-state pulled in $4.1 billion, equivalent to around $695 for each person, PitchBook data showed.
Other small nations have performed well comparative to their size at a time when the fundraising environment for startups across the globe has been more constrained. Israel has taken second place in the list, raising $506 per capita. Finland also performed well, coming in fifth.
The US, the world's largest VC market, ranked third with $357 in VC dollars per person.
©️Pitchbook
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Hi GoGlobers!
The GGW Networking Hour starts in 15 minutes. Please be on time. This is the link to join.
The GGW Networking Hour starts in 15 minutes. Please be on time. This is the link to join.
Hi, GoGlobers!
Copywriting (or copy) in the E-Commerce niche from Danil Chernukha.
For some reason, many entrepreneurs and marketers don’t pay enough attention to this important part of any type of ad campaign and then their own profit suffers from this.
Of course, sometimes you just put a CTA (Call To Action) under your ad creative and see the ROAS going up, but in most cases, it is not enough.
There is no “100% profit” formula, everything is checked by testing and only in this way, but we’ve designed some patterns which could help you to write your texts with less effort and more easily find a connection with your target audience.
Read more
Copywriting (or copy) in the E-Commerce niche from Danil Chernukha.
For some reason, many entrepreneurs and marketers don’t pay enough attention to this important part of any type of ad campaign and then their own profit suffers from this.
Of course, sometimes you just put a CTA (Call To Action) under your ad creative and see the ROAS going up, but in most cases, it is not enough.
There is no “100% profit” formula, everything is checked by testing and only in this way, but we’ve designed some patterns which could help you to write your texts with less effort and more easily find a connection with your target audience.
Read more
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WHY SHOULD YOU SAY “NO” TO INVESTORS MONEY?
Many startup founders mostly believe that they need to create an idea, build an MVP and then get investor funding or earlier if they are lucky.
Well if you are serious about running a business and really want spent 5-10 years delivering on your mission then you may want to know the downsides of taking money and the benefits of avoiding them. It doesn't apply to all, but as a wise founder you should have a complete picture.
Read more
Many startup founders mostly believe that they need to create an idea, build an MVP and then get investor funding or earlier if they are lucky.
Well if you are serious about running a business and really want spent 5-10 years delivering on your mission then you may want to know the downsides of taking money and the benefits of avoiding them. It doesn't apply to all, but as a wise founder you should have a complete picture.
Read more
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Hey GoGlobers!
Boston has so many advantages for running a business but it also has a lot of disadvantages for startup founders at an early stage.
We invited Steve Walsh to share his practice view and recommendations for early-stage founders. Steve is an angel investor and a founder of "Hands on Angel", he is based in Boston his whole life and he is deeply integrated into the local startup ecosystem.
Watch our podcast here.
Boston has so many advantages for running a business but it also has a lot of disadvantages for startup founders at an early stage.
We invited Steve Walsh to share his practice view and recommendations for early-stage founders. Steve is an angel investor and a founder of "Hands on Angel", he is based in Boston his whole life and he is deeply integrated into the local startup ecosystem.
Watch our podcast here.
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"Y Combinator this week announced Launch YC, a platform where people can sort accelerator startups by industry, batch and launch date to discover new products. The famed accelerator, which has seeded the likes of Instacart, Coinbase, OpenSea and Dropbox, invites users to vote for newly launched startups “to help them climb up the leaderboard, try out product demos and learn about the founding team,” it said in a blog post. "
©️TechCrunch
©️TechCrunch
TechCrunch
Y Combinator announces Launch YC, a way for its portfolio to shout to the public
Y Combinator offering a way for startups to make a bit more noise might make the implied equity cost of its program more attractive.
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Hey GoGlobers!
How to incorporate LLC in the US, how to file taxes yourselves.
We discussed it in detail with GGW Tax Advisor Tigran Haratunyan.
Specifically, he advised on the right forms to use, time frames, tax scenarios and so much more.
Watch our podcast here
How to incorporate LLC in the US, how to file taxes yourselves.
We discussed it in detail with GGW Tax Advisor Tigran Haratunyan.
Specifically, he advised on the right forms to use, time frames, tax scenarios and so much more.
Watch our podcast here
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"Climentum launches €150m climate fund to back moonshot sustainability startups.
Climentum — which is today announcing a first close of a fund targeting €150m (but not disclosing the exact amount raised) — is setting out to invest in next-generation technologies like hydrogen planes, which Berno thinks could hit commercial viability in five years (if some of the startups they’re talking to are to be believed)."
©️ Sifted
Climentum — which is today announcing a first close of a fund targeting €150m (but not disclosing the exact amount raised) — is setting out to invest in next-generation technologies like hydrogen planes, which Berno thinks could hit commercial viability in five years (if some of the startups they’re talking to are to be believed)."
©️ Sifted
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Sequoia’s China arm to rake in $9 billion for new funds
Sequoia China, led by investment guru Neil Shen, has raised about $9 billion for investments in technology and healthcare, according to people familiar with the matter, overcoming the fundraising challenges that have beset the venture capital sector.
Read more
Sequoia China, led by investment guru Neil Shen, has raised about $9 billion for investments in technology and healthcare, according to people familiar with the matter, overcoming the fundraising challenges that have beset the venture capital sector.
Read more
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Are you awaiting for a new Jeff Bezos' biopic?
"There's a new Jeff Bezos biopic set to be released this summer that chronicles the Amazon kingpin's endeavor to create an online book store that eventually expanded into an e-commerce empire. Curious entrepreneurs may want to tune in if interested in a small taste of Amazon's beginnings."
©️ Inc
"There's a new Jeff Bezos biopic set to be released this summer that chronicles the Amazon kingpin's endeavor to create an online book store that eventually expanded into an e-commerce empire. Curious entrepreneurs may want to tune in if interested in a small taste of Amazon's beginnings."
©️ Inc
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Hey GoGloberes!
We invite you to watch the podcast with Georgi Koreli "Product Ideation. How to choose the right idea for your startup".
In this podcast, we will discuss the main use cases of how startups are born.
We will go into detail on three themes:
1. Startups are founded through the personal problems of founders. What are the premises you should look for
2. Startups are created through the domain expertise of the founder.
3. Startups created by newcomers looking at the industry from the first principles (Tesla)
4. Startups are created by accurately predicting the future (Alchemy)
We will discuss these cases and frameworks you can use to analyze them, such as Jobs to be done, market inflections, and leveraging geographic asymmetries.
We invite you to watch the podcast with Georgi Koreli "Product Ideation. How to choose the right idea for your startup".
In this podcast, we will discuss the main use cases of how startups are born.
We will go into detail on three themes:
1. Startups are founded through the personal problems of founders. What are the premises you should look for
2. Startups are created through the domain expertise of the founder.
3. Startups created by newcomers looking at the industry from the first principles (Tesla)
4. Startups are created by accurately predicting the future (Alchemy)
We will discuss these cases and frameworks you can use to analyze them, such as Jobs to be done, market inflections, and leveraging geographic asymmetries.
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Q2 VC Funding Globally Falls Significantly As Startup Investors Pull Back
"Global funding slowed dramatically in the second quarter of 2022 as investors shied away from later-stage funding bets. It also marked the first quarter with a significant drop in funding since the beginning of 2020.
Funding reached $120 billion, the lowest amount recorded for a single quarter since the beginning of 2021, Crunchbase data shows.
Second-quarter funding fell 26% quarter over quarter from $162 billion in the first quarter and 27% year over year from $165 billion in the second quarter of 2021.
It’s worth noting that YoY comparisons are against 2021, which was a record year for venture funding. Funding for the second quarter of 2022 still exceeded every quarter in 2020, when each quarter tracked below—and in some cases well below—$100 billion."
Read more
"Global funding slowed dramatically in the second quarter of 2022 as investors shied away from later-stage funding bets. It also marked the first quarter with a significant drop in funding since the beginning of 2020.
Funding reached $120 billion, the lowest amount recorded for a single quarter since the beginning of 2021, Crunchbase data shows.
Second-quarter funding fell 26% quarter over quarter from $162 billion in the first quarter and 27% year over year from $165 billion in the second quarter of 2021.
It’s worth noting that YoY comparisons are against 2021, which was a record year for venture funding. Funding for the second quarter of 2022 still exceeded every quarter in 2020, when each quarter tracked below—and in some cases well below—$100 billion."
Read more
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Best Project Management Software – 2022 Reviews
After extensive testing, Tech.co found that the best project management software you can choose is ClickUp. ClickUp's paid plans are great value for money when compared to competitors – it's ideal for small companies thanks to a rich set of genuinely useful task management features, excellent data visualization tools, and the fact it's incredibly easy to use.
But while ClickUp topped our testing as the best all-around “work OS”, it won't be the perfect solution for all teams. For instance, we concluded from our research data that:
1. monday.com offers a great user experience – even simpler than ClickUp!
2. Smartsheet will be the smoothest transition, if you're upgrading from using spreadsheets.
3. Asana has the best automation builder, which is ideal if you're looking for an efficiency boost.
4. Jira is the best for engineering and tech teams, or any agile team who works in sprints.
Read more
After extensive testing, Tech.co found that the best project management software you can choose is ClickUp. ClickUp's paid plans are great value for money when compared to competitors – it's ideal for small companies thanks to a rich set of genuinely useful task management features, excellent data visualization tools, and the fact it's incredibly easy to use.
But while ClickUp topped our testing as the best all-around “work OS”, it won't be the perfect solution for all teams. For instance, we concluded from our research data that:
1. monday.com offers a great user experience – even simpler than ClickUp!
2. Smartsheet will be the smoothest transition, if you're upgrading from using spreadsheets.
3. Asana has the best automation builder, which is ideal if you're looking for an efficiency boost.
4. Jira is the best for engineering and tech teams, or any agile team who works in sprints.
Read more
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Startup Battlefield 200
"If you haven’t heard yet, there’s a new and awesome opportunity available for early-stage startup founders at TechCrunch Disrupt in San Francisco on October 18-20. It’s called the Startup Battlefield 200, and it’s packed with perks and possibilities.
To be eligible for consideration, your company should:
• Be an early-stage startup
• Have a minimally viable product
• Represent any vertical
• Represent any geography
• Have step-function innovation in your vertical
• Be bootstrapped or have pre-scale funding (variable by industry)
They’re accepting applications on a rolling basis, so submit your application here ASAP. The deadline is July 31, and they started sending out acceptance notices on July 1.
TechCrunch Disrupt 2022 takes place in San Francisco on October 18-20 with an online day on October 21."
©️TechCrunch
"If you haven’t heard yet, there’s a new and awesome opportunity available for early-stage startup founders at TechCrunch Disrupt in San Francisco on October 18-20. It’s called the Startup Battlefield 200, and it’s packed with perks and possibilities.
To be eligible for consideration, your company should:
• Be an early-stage startup
• Have a minimally viable product
• Represent any vertical
• Represent any geography
• Have step-function innovation in your vertical
• Be bootstrapped or have pre-scale funding (variable by industry)
They’re accepting applications on a rolling basis, so submit your application here ASAP. The deadline is July 31, and they started sending out acceptance notices on July 1.
TechCrunch Disrupt 2022 takes place in San Francisco on October 18-20 with an online day on October 21."
©️TechCrunch
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Logistics Startup Flexe Hits Unicorn Status After $119M Raise
"Seattle-based logistics startup Flexe raised a $119 million Series D at a $1 billion-plus post-money valuation, as the world continues to grapple with supply chain disruptions.
The round included new investments from funds and accounts managed by BlackRock and follow-on investment from Activate Capital, Madrona Ventures, Prologis Ventures and Redpoint Ventures, as well as funds and accounts advised by T. Rowe Price Associates and T. Rowe Price Investment Management, and Tiger Global.
Flexe’s programmatic logistics technology platform helps large retailers and other brands with e-commerce fulfillment, scalable warehousing solutions and retail distribution. Such technologies have become valuable to retailers as they navigate an uncertain economy, changing consumer behaviors and supply chain gridlock."
©️ Crunchbase
"Seattle-based logistics startup Flexe raised a $119 million Series D at a $1 billion-plus post-money valuation, as the world continues to grapple with supply chain disruptions.
The round included new investments from funds and accounts managed by BlackRock and follow-on investment from Activate Capital, Madrona Ventures, Prologis Ventures and Redpoint Ventures, as well as funds and accounts advised by T. Rowe Price Associates and T. Rowe Price Investment Management, and Tiger Global.
Flexe’s programmatic logistics technology platform helps large retailers and other brands with e-commerce fulfillment, scalable warehousing solutions and retail distribution. Such technologies have become valuable to retailers as they navigate an uncertain economy, changing consumer behaviors and supply chain gridlock."
©️ Crunchbase
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Andy Rachleff on generating high returns in venture:
"Being willing to intelligently take this leap of faith is one of the main differences between the venture firms who consistently generate high returns — and everyone else. Unfortunately human nature is not comfortable taking risk; so most venture capital firms want high returns without risk, which doesn’t exist. As a result they often sit on the sideline while other people make the big money from things that most people initially think are crazy."
"Being willing to intelligently take this leap of faith is one of the main differences between the venture firms who consistently generate high returns — and everyone else. Unfortunately human nature is not comfortable taking risk; so most venture capital firms want high returns without risk, which doesn’t exist. As a result they often sit on the sideline while other people make the big money from things that most people initially think are crazy."
Inc. has prepared a selection of "4 New Must-Watch Movies and TV Shows for Entrepreneurs This Summer"
1. The Bear
This show tells a story about a young chef, Carmy, from the fine-dining world who has to return to Chicago to run his family's sandwich shop after the suicide of his brother. This is a story about getting into small-business ownership, training a rough-around-the-edges kitchen crew, and balancing the strained familial relationships.
Where to see it: Hulu (June 23, 2022)
2. King of Stonks
This German TV series, which is inspired by real events, follows fictional character Felix Armand, an overly ambitious programmer, who lies, cheats, and schemes his company up to the top. Meanwhile, Felix's company is facing charges of money laundering, investor deception, and internet pornography during its IPO. Between run-ins with the Sicilian mafia and shady short sellers, this story may give you some insights on what not to do when launching a business.
Where to see it: Netflix (July 6, 2022)
3. Victoria's Secret: Angels and Demons
This documentary looks into the fall of the iconic brand Victoria's Secret. Exploring the dark side of the fashion industry, the billionaire class, and the impact of an outdated branding strategy, the series explores the deep ties between Les Wexner, the former CEO of Victoria's Secret's owner L Brands, and the now deceased Jeffrey Epstein. Intrigue aside, if you're looking for innovate marketing solutions, this documentary may give you some insights.
Where to see it: Hulu (July 14, 2022)
4. Living Wine
This "tipsy" documentary is for wine lovers and anyone who wants to start a wine business. Living Wine follows innovative natural winemakers in Northern California who manage to save their businesses during the worst wildfire season on record, while creating unique and sustainable methods to preserve the natural flavor of their wines. The film can also provide insights on risk management and combating natural disasters.
Where to see it: In selected theaters (July 15, 2022)
You can also watch thise selection at "The 8 Best Movies of the Year for Entrepreneurs"
1. The Bear
This show tells a story about a young chef, Carmy, from the fine-dining world who has to return to Chicago to run his family's sandwich shop after the suicide of his brother. This is a story about getting into small-business ownership, training a rough-around-the-edges kitchen crew, and balancing the strained familial relationships.
Where to see it: Hulu (June 23, 2022)
2. King of Stonks
This German TV series, which is inspired by real events, follows fictional character Felix Armand, an overly ambitious programmer, who lies, cheats, and schemes his company up to the top. Meanwhile, Felix's company is facing charges of money laundering, investor deception, and internet pornography during its IPO. Between run-ins with the Sicilian mafia and shady short sellers, this story may give you some insights on what not to do when launching a business.
Where to see it: Netflix (July 6, 2022)
3. Victoria's Secret: Angels and Demons
This documentary looks into the fall of the iconic brand Victoria's Secret. Exploring the dark side of the fashion industry, the billionaire class, and the impact of an outdated branding strategy, the series explores the deep ties between Les Wexner, the former CEO of Victoria's Secret's owner L Brands, and the now deceased Jeffrey Epstein. Intrigue aside, if you're looking for innovate marketing solutions, this documentary may give you some insights.
Where to see it: Hulu (July 14, 2022)
4. Living Wine
This "tipsy" documentary is for wine lovers and anyone who wants to start a wine business. Living Wine follows innovative natural winemakers in Northern California who manage to save their businesses during the worst wildfire season on record, while creating unique and sustainable methods to preserve the natural flavor of their wines. The film can also provide insights on risk management and combating natural disasters.
Where to see it: In selected theaters (July 15, 2022)
You can also watch thise selection at "The 8 Best Movies of the Year for Entrepreneurs"
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AWS FinTech Accelerator
Amazon Web Services has launched AWS FinTech Accelerator, an equity-free programme that aims to support the growth and scale of exciting, high-potential fintech startups. The initiative is supported by Vestbee, one of the largest European platforms for startups, VC funds, accelerators and corporates, as well as selected fintech experts, and investors representing some of the world’s most well-known companies.
The applications are open for early-stage startups at the pre-seed, seed, and Series A stage, developing an innovative solution in the United Kingdom and Ireland.
Teams aiming to set up businesses in these fintech hubs are also invited to participate. The startups should be operating in the following sectors (although, others are also welcome):
• Open & Embedded Finance,
• Big Data & AIML,
• Blockchain & Decentralised Finance,
• FinTech-as-a-service,
• Financial inclusion & Sustainability
Applications for the programme will close on July 22nd. The acceleration program will start in September, ending with a Demo Day on October 27th.
Apply to the AWS FinTech Accelerator HERE via the Vestbee platform before 22nd July 2022.
Amazon Web Services has launched AWS FinTech Accelerator, an equity-free programme that aims to support the growth and scale of exciting, high-potential fintech startups. The initiative is supported by Vestbee, one of the largest European platforms for startups, VC funds, accelerators and corporates, as well as selected fintech experts, and investors representing some of the world’s most well-known companies.
The applications are open for early-stage startups at the pre-seed, seed, and Series A stage, developing an innovative solution in the United Kingdom and Ireland.
Teams aiming to set up businesses in these fintech hubs are also invited to participate. The startups should be operating in the following sectors (although, others are also welcome):
• Open & Embedded Finance,
• Big Data & AIML,
• Blockchain & Decentralised Finance,
• FinTech-as-a-service,
• Financial inclusion & Sustainability
Applications for the programme will close on July 22nd. The acceleration program will start in September, ending with a Demo Day on October 27th.
Apply to the AWS FinTech Accelerator HERE via the Vestbee platform before 22nd July 2022.
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I do not believe in life/work balance. I believe in life and loving what I do. #entrepreneurship is not about money. It’s about freedom and being able to do what you want when you want. That’s why it’s important to find work you love and can live with.
©️ Kevin O'Leary
©️ Kevin O'Leary
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Hey GoGlobers!
We are pleased to announce our new partnership with Sanctions Law Consulting!
In today's international business, it is essential to conduct a business that is compliant with local and global regulations and sanctions. The best solution for these purposes is the compliance system in your company.
They have prepared for you a podcast recording on the topic: Global Compliance in Business yourselves. Sanctions. Trade regulations. Privacy Law. AML.
Watch here
For GGW community members get a 10% discount on their services.
We are pleased to announce our new partnership with Sanctions Law Consulting!
In today's international business, it is essential to conduct a business that is compliant with local and global regulations and sanctions. The best solution for these purposes is the compliance system in your company.
They have prepared for you a podcast recording on the topic: Global Compliance in Business yourselves. Sanctions. Trade regulations. Privacy Law. AML.
Watch here
For GGW community members get a 10% discount on their services.
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