ICYMI:COMMUNITY FOCUS 4.2.17
Sunday, April 2nd
Sunday, April 2nd
ICYMI:COMMUNITY FOCUS W/RENEE 4.2.17
Radio friendly good morning very nice to be back for another week in addition of community focus which even nicer is your wonderful company thank you for tuning in. To our intercom stations Saturday and Sunday mornings it's the time. That you can definitely stay informed as to what's happening in our community. And to also thank you for the things that you are doing keep up the great work. As I Renee Vaughan always look forward to this time of mourning because it's a wonderful opportunity. To sit down and engage as always in great conversation with members of. Our community focused Hamlet as speaking of family very nice to have Antonio McColl way of. Don't see how worried. Good morning to use our good morning Renee no you I'm doing good that could you have been in a. Good busy position he has not only as. An eighty business marketing coach. And it has been awhile since we've actually talked to you in that capacity. But congratulations to you because I think it onetime you working on was Shura Ph.D. It was my my doctors can dollars in business administration excellent applied. Degree appease these theoretical alana I'm not finished on three classes. She'll icing yet Gerri good shy. And beyond that took great. You know collect myself and sanity back because anyone who's pursuing that path knows you lose it in the process. A lot of hard work involved. And so I just took it you know mental break but but those three class a steel stone and meet with me to come back. I'm sure produce and I'd be back. You will you well but you continue to be a hard working individual and Antonio you're more than welcome and always. I look forward to the opportunity of sitting down and talking with you. So nice to have you back as we get caught up on some things while we have you here. On the program and all the things that have taken place with MC outward. Business coaching. UN that capacity and actually let me also and a say congratulations. On being the author and thank you for my guess I'll leave my first coat that I have. Tim secrets all business owners must know that marketing experts won't tell you this. Antonio McCoy NBA business marketing coach. So thank you but even though you have this. Very informative book. We're really going to be focusing on is our topic of discussion what's known as an exit to use succession. Yeah our program rather use I should say you sell glad to have you here on the show let's just get the topic of discussion going. And by asking the question what is the exit to succession program all about. So do you have business owners now days maybe hours rank and in business for 2530 years Susan is looking to retire. And he didn't one of two things either sell the business rank him and passed on to there's an. Today door. So exit to succession program is a program it's thirteen modules. Is designed to help him get your business ready to do one of. Candy makes sense yeah. Hints why it's called the exits it was yeah. Come out with a concept that's actually young it's licensed coached them on certify. Parties are grant him. It's a program he came up we have. I bought the license to him because. The network that I have. With financial advisors and whatnot. I thought it was something acted really you know do well Witten from you know being that I know so many financial advisors because they know. You know windier clients looking. Two tires weren't even business owners so I had a program to help prepare because at into the eight. When the business owners sales the businessmen. Financial planner in managing the proceeds that come from this yes. Wow well let's just like you said and really when we think about particularly with our audience. And with her listeners and our radio family. Many of them are at that point as baby boomers where there. Really. Are in a position to where there are a little bit older. Little bit wiser. And certainly are looking to see what is the next best move as a business owner to do. And obviously an expert like yourself that comes into play. No I wanna do or talk about as an aside has Antonio we've known each other for years and for others that know you on a personal note. If you will as well. Over those year issue you have done a lot you have been in the capacity and actually a bit on the show. Cash shows coming on representing the post on Postal Service rather. I you and I have something in common in terms of why it. Is taking place right now we talk about media in general Hugh and I'm working in the production capacity on the radio side. And now here you are as a business coach. So you really have seen from a personal standpoint the transition. Of going from one business to the next. Pumping out in although this side topic yet when I speak publicly about it until people into this came up and research loses moment doctorate. People who who. Worked a corporate job is research. Support. You have a higher chance of business success. And those who haven't so that being see it right at taking the skills that I learn from the postal services. I've taken the skills I've learned from voicing producing radio and TV commercials right. And and parlay and if you asked the partly. Into it borrowed Elena all of us does not mean NHR. Use his word but but I use all of those deals you when I worked with my clients now to act. Is just as another step and while it is you know on on. Exactly so I I you know I'm I feel blessed in ours had a opportunity. You know to work the Postal Service to me there actually climb. Me to release issued year round in Ireland about direct mail I used. Lines are you don't exactly mail is not it. You know I'm always on digital and I still beaten him I'm saying. You know what I learned about Rick meal create rate mail right how. Is that on one. All of Allen the use. And that's fantastic because you are taking those skills and like our finding with. The individuals that you work where they may have gone down a similar path back out I think he read it they're not losing. What the company this view is bitten me. You know paid. Choose to learn to leverage outside of the company and sent it in other revenue stream channel. You should be doing you know because until news. The business landscape right now with technology and automation. If you re keeping up with it it it looks in hand and pretty soon it's not your job to behead. You're gonna have to get out here you know and and eight colleagues but also what proposals going to be. And you know lose. Willing to listen. To Europe also what it is you do right and and you're gonna have to be used persuaded him to park their money in exchange what you product. User. Essentially you mentioned that Antonio because the show Derek we. He run community focus is not just for the existing baby boomers it's making me think now. Especially with this generation known as Maloney as we got a lot of young folk that are about to ads with every year. Are coming out of a lot of major. Colleges. Universities. Text schools trade schools and dear to our our transitioning if you will or about to enter into the business world. It was was interesting about those you know touch us in donating it shocked you. On the outages that money T yeah and an asset and insular and was interesting we year. I guess my master's degree and you got yours and a master's in education you went after. You got were accompany. These milling you're you're talking about you're talking about leaving college and used it start the business exactly. Exactly. Now going to work. Work in the beautiful part of it. Is most of them wanted to do something. To help the community they wanna pay what they've learned start a business and because they want. Two to push social change. Give back yet as of yet to give back as a young. It is the view it really is so this can be really consider form millennial olds who are listening this is an excellent stepping stone. When that opportunity to Wear as we say. As the baby boomers are passing the baton and as you well to the next level to the next level and really to the next generation of future business owners out there. Excellent yes we apologize or I apologize radio family that was an aside but an important one to address immediate thank you thank you. Now back to the exit to succession program here on community focused Antonio why is a program and this is a two part question. Why Warren is a necessary and secondly so important. Well because most business owners have not maximize the potential business so when you're talking about taking an ass it in selling it. And and leading off an ass into retirement ultimately of life dreamed about. A lot of times. Business owners and selling their business pennies on the dollar because they have appears I've got friends that are business brokers. And they tell me they have so many business to come to London whose wanna sell my business I wanna retire and businesses not ready. Okay and and you know. What the business owner and most business owners I know better it is a bit nearing comes to mind he would nobody there he is in the same place he was that. Haven't thought about it. Was an interesting. Concept or just what you sent in that last sentence I never really gonna. The individual may be ready to retire but the business is not well never thought of an insurance like that I want outlook. It's just like if you were the job of the company and you retire from a financial eyes were Communists OK and you wanna retire right. How much do you need anything I'm what you need to retire. When you see a dubious note if you've got to have so much money to maintain that the level of quality of life that you enjoyed. While you were working more but now you're looking for this business to generate enough income. You know once sustain itself and ultimately when you walk way to sustain you. And and there are certain things you have to do in your business and mind you most business owners have not done. To prepare yeah. Exactly. Yeah and hit supply and we're not necessarily pushing the book. But that's that's part of the ten secrets yet all business owners most known that marketing experts won't tonight but we we we've got a business marketing coach you will and you Antonio McCourt. I have believed time for one more question before we got a break and this is likely very important one from. What you have discussed with us so far. The real big question is likely for our listeners tuning in Antonio how soon let's let's give a timeline. As to. What a business owner needs to do to begin planning and especially to get ready for exit or succession. Three years. So they they just are planning to use up one they've got start preparing the business were okay. If I'm coming into about the business. I've got to know it when you're not here that has used and profitable running the business is only going to be profitable when you're in it I don't want. It's just I'm going to be you went online. The other thing is we've got to create a pipe Alley just now be quick I wanna take into real well it if your past you know listing your past you know on. Chu the son and Norton may or whatever the son or daughter was doing. Now you've got to develop a leader to take this on doors place what they're doing because now the CEO. OK so everyone's got to move up right okay sue. You know it takes about three years you've got to put some systems in place that. These type of things what makes the business more valuable because the business outlook and and angels which is going to drive the asking price. You know I mean I know. I'm all the option areas and what they do what you have job descriptions then if you have. Things that are written down that need to be considered for this person can be considered where it's you know were they need to do a BC and evil we consider them what they asked me to the next level. Even if I don't know anything about the business that you had this already mapped out and makes the business more valuable. Okay. Now that you go to break but there's there's some other things beer because our long win today and I'll write as you break but but there's some of the things that they need you to consumers will. Just to make business more value. Plus they wonder why don't we make that part two you can of the program. To get us started when we do come back from break. And you know what Antonio no such thing as long Nguyen didn't it's this program in fact the more information I say that you share with us. The more informed we are and that's definitely what a public affairs show is all about so thank you Fam it is good to have you back. And it's good to have you back to radio family so much to discuss and glad to have with MC Howard business coaching. The business marketing coach Antonio McCoy. Joining you are surely Renee fine thank you ready a family for joining me as well indeed we will take a break but we're definitely coming back much more of the week in addition. A community focus right after this the weekend edition of community focus here and intercom stations irony Vaughn along with members of our community focus Hamlet. And indeed every weekend Saturday and Sunday mornings you are right here with me radio family thank you so much for tuning in. And as we are back from break for a public affairs show. So is business marketing coach Antonio McCoy talk about family here other weekend edition of community focus are representing MC Howard. Business coaching and before we went to break Antonio. The big question how soon should a business owner began planning. And getting ready to either exit that business. Or the succession portion of wanting to pass it along to someone else whether in the immediate family or that individual may even have a business partner and you were saying. The importance of really planning now if you haven't already done so so thank you for coming back for the second half of the show and here's how we get into the meat and potatoes. It if you will of our conversation. As we talk about the exit to succession program. What type of team Antonio let's begin here is needed of a business owner who is looking to sell or pass said business on to the next generation. Sue you should have an exit and and and it team should consist of an attorney who's experienced with selling. You know business and what that Grasso agreements a business broker. An investment banker. Valuation expert someone experienced in knowing appraiser for the house or house on the valuation expert tax attorney. Depending on how much revenue if the revenues below I mean you and you rows below I mean you may not need. Tax attorney CPA or count me even Hamlet okay I'm an estate planner. And again I'm on the value to gross revenue an investment banker does that has ideas on. A financial planner. And in that business broker whose lack. The business brokers like the realtor for you so you need a marketing expert on his broker asked. The tools to you know honestly your business to qualified prospects maybe fifty. Hers. Is quite a unique checklist yes if you will for business owners have. When they first learned this from you what's your initial reaction I'm just wondering they don't have but. Yeah. You know it's like this no problem yeah connect with all these individuals rates so you know we can get you connect on only two of us over it. But but most don't have a financial advisor. Don't have us yea right or an account. They may not have an attorney and who knows how to do bicycle agreements and business attorney knows how to. Due to transition the transfer in the business over maybe two. And remember and writing a contract with regards to what they want. Run the businesses parson 20% you of them all the growth and whatever. Right. Well known most of them most business owners. Wore a teen years have done nothing. But keep their head down and do with they had to do to make money and a lot of times one exercise in the program we we Friday or chart. And we put all the functional areas. So you know SE CEO media marketing. It's beautiful here you may have UC IO you know you may have your field employees and they actor you know jobs that they. So and one of the things we do was have you. Do. Everybody's name and hear your news grenades and CEO so then we come back OK let's drop or try to you from. Okay I'm sorry I'm jump in here don't drop or taught you now with steel. Every every job that you participated in was somebody else's names and men put your name to an okay what to do that shouldn't be the case. And we drop the the or try a year from now run and we've got to figure out how we can do churning. Out of those boxes because if you're participant which you shouldn't be doing as a true CEO visit of an employee CEO Brian if you're names and all those boxes nobody's gonna wanna abide. The business from you because those sponsors will not function as they should be conditional loan B. The nice thing to Antonio and radio Philly this is really an opportunity that I would say if you haven't already start taken some notes. This is where even. If you're not a business around. The great stain it or there is a possibility because like you said we have a lot of baby boomers and not just those that are looking to pass a business on to someone else. But for those who may be getting a little later start time. In life and want to start a business like you say they got displaced from exactly what date they have decided they want to leave corporate America to do something on their own. And to see firsthand the success from what that business can bring about. But the nice thing about it is whether you are in either one of those categories. Listening to you and especially working for you. Radio family you have an individual and Antonio McCoy who's really going to break down the steps. And explain it in language that really makes it easier to understand. As a business owner. You we would try to do that but at the business that the funny thing about qualities and is. Just doesn't won't businesses is going to be department at your company I see so many companies. Do not participate in succession planning out like they should want and Palin knowledge walk out that no one and then there's a skilled yet. Tristan OK so you've got to Melinda you you just promoting. And did you you know someone you've known that that's told you what I'm retiring in a year today. They're not preparing people that they know they are again preparing a pipeline of leaders okay because sooner or later somebody's pocket though. Very good point. Question is this what should a business owner expect the business to be worked okay here here's where things really get a little sticky. One of the things we do in the program is is we ask you know the participant not to be the type of business on diesel mostly attached. To the business that the year caught up in some astronomical. Out of work because it's not okay. On the market. Okay. Typically this is why tilt. Why gore who is this process is important and why you should be trying to grow your business. Every angle and innovating and creating an value is because. Whatever your annual growth sees. You gonna sell the business probably 11 point five times. So those of you listening to your business owner your thinking of leaving your business. X and passing it on which we didn't get into something else to get into the miniature hopefully. We have time. Is the Qatar annual gross if your annual gross is only 300000 dollars okay. And you can probably looked expect to get anywhere from 300000. To 4500. Dollars. That I did the math right. What a sale of your business. Will that be enough. OK now if we till business owners you should strive to get to the million dollar more in a million dollars gross a year so now what you're selling to business. Four million dollars you should get a million to one point five. I'm sure a lot of us have probably got waved them off that you know but but the point. The point of the matter is you know and when I speak publicly talk about this is will you shouldn't start a business tournament. You can go work someone's job when their stress and earn a living and you should start a business to grow with as much as you can. So someone were worn by. Okay that's the quickest way to well the SaaS getting married but that's the quickest way to well. Okay could you combining assets and you wreck but the quickest way to well OK if you grow bet is this akin to a million dollars OK you can expect to sell it. For 10000011. Point five at least OK and and what I'm saying is. If it it is five million. You know seven point five million. So that's why try to till business owners you know again it's great that you make enough. Two to pay to view as you make enough to make your mortgage payment you make enough that at you pay all the deals I don't believe this after he of The Beatles have government and don't do that do. But because you haven't thought about when you wanna make your exit and it is always it is not have to be. When you come a couple of sixty to a sixty you can be 27 years oh good point you think mark circle Zuckerberg at peace old FaceBook. Right to like tomorrow tomorrow. Okay pick up the money that FaceBook what's helpful more. So so this isn't just spoke baby boomers who did it get somebody out there it is my age your age maybe younger and more that owns a business as you know. I wanna sell you what these things I'm talking about. You're gonna have to take into consideration because I'm coming in to buy it. I'm going to commit to do you have job descriptions have you developed a pipeline leaders one hoping we have talked about is you know what a lot of times when new management comes in what do you but he quit they leave do you. We've got to ask contracts and some incentives in place. You say you know what the team's goals in place we're saying Jay's act even even if I sell it we don't lose and that that adds to the value but what's almost gonna pay for. Here's another and some pokes haven't auto just because use of the business you can just walk away. If I about the business outlook stay home maybe six months to show me the ropes cause if we have problems. I'm needs to get you some guidance on how to how to solve these problems that point. Gloria you still don't even though you're talking about eggs in your business and selling you need to be mentally prepared for this one of the questions we ask in the program. How long are you willing to stay on. OK to ensure success. Because they're different ways on you knew that you may not get all the cash of four. You you may need to be prepared to do some owner financing. Would guess what if you wanna if you wanna get. All of and it's gonna get your money back from you need to make your business is successful but in my practice around a year. To make sure that happens. Otherwise somebody's hand you a business back in worse shape. And because they know what they were doing. You don't say a social there are a lot of things that we we don't have time on the cover but something that you have to consider you're gonna probably have to do some more refinement. And who knows Antonio we can deathly cover those stands on a future show us but I always act but I don't know don't I'd that was not at a huge tick that you offer Matt. But that just made me think more so and this is an aside question if you will. In. What you have seen and especially in becoming a business marketing coach you likely have seen war individuals transition. In terms of coming out of the corporate world and going into business for themselves and that number just continues to rise. And continues to grow because what's happening like we said about the knowingly using college right they're not running to somebody's job salute salute these jobs are being fields so these folks who incorporate right now I have the job of one. To and three people and nature Oakley furniture and so now here's the beautiful thing if they have a 401K in London best the best thing they have to start a business. You can actually transition money out of your 401K without penalty. Because of that the crash of 2008 yen. You know the governments that you know you invest you used to take before walking him invest in public often because of what the stock market did in 2008. The government came back his self directed Ari the campaigns I would guess what you could invest in a private company your own. You can take your 401K without penalty and and and start a business Oak Hill I'm franchise rent. Okay so what I'm saying is people looking at this as a result or they've been laid off so much exactly what John that it has ever think everything's trying to get laid off they get another and then what happens rat race. I wanna control my own business topic I wanna know what's wrong activate it just so they leave corporate America. They have a ton of money in their you know 41 K so they go win and take a portion of written and start a business well. Real fan my again I hope that you're taken some good notes whether it's meant solar your writing. This information down and senators that really is great information to share. My next question is this what are some things a business owner should be concerned about if he or she is looking to execute as well. Some of them have covered how long are you gonna stay on right. Okay should not just going to be able to walk walk away is you've got to ensure the person is buying the business that the staff is gonna stay on the list goes in crucial. Position so you may have to you know create a unique contract. For those individuals and put an incentive in place to make them. You know I wanna stay right some of the other things that we talked about is whether or not you know given it was stocks ill with a nut you gonna do some owner financing and you know in regards to making it possible for the business. You know to be so one of the other ones of people that left ankle and program what you want. Do you want 20%. Do you want 10%. You have a dollar amount most of them have not thought about it. Okay and that's why getting the revenue up is so important because now. The business has to support itself. And support you too so growth is more crucial now than it's ever been because in three years. And in some cases lists. You wanna leave in. That's true because. You know a lot of times you that you have those plans like he set of retirement and wanting to spend more time with family. I'm a lot of instances especially when baby boomers new additions to the family yes basically the grandkids that you wanna see. That little grand baby grow up in you wanna be a part of of that individual so many different life scenarios. And if you will. And at the same time as well Antonio I'm sure that you have come across. Quite. The for lack of another word I guess gamut or spectrum however you want to word it. And so many different. Businesses and individuals have a home tonight he just kind of give us an idea I mean just. Something from maybe perhaps a little mom and pop store to someone who has several franchises. Will have a particular business. Coast CEO. Of mental health facility had multiple locations around the state while I've coached you know general practitioner doctor okay financial advisor. Chiropractors and well I'm I'm just trying to go to my head. 'cause cheers. I'm actually we actually back in an engagement now. I'm just trying to figure go to Lance capers Dana and if it's been it's been quite of Mexico's people that radio station. When you know but but but the thing is like a city business is business it that most people think well because you have would be and in. You'd open in my industry you know. Is a couple of things it every business has to do I don't care what is an issue in even non profit rise you have to get new customers with a nonprofit new donors and then. You've got to get those folks to spend money with you so you gotta generate revenue in. So this is basically. Just that this is basic business 101 is is based is is it woods is basic business one but what is making you look at your business to get things to the point that is attractive. Unless up and talked about off here. You know attracted to either Europe Europe use on your door of the successor. Wanted to take it or because he talked about most of them don't want to learn because they sing mom or dad were fourteen hours a day tour and they don't want to sign up for Ryan. Okay make it attractive to them or make it attractive tool by your who's willing you know go to bank get financing. You know in the say you know what you've got things in place and see if you were here. This is this operation which Google warned steel generate what I see in the financial in the income statement. And I can see wannabe would make normally lose right so this is really great business knowledge to attack happened to now is is is great visited us to have. And to know when like this it and understand. How it impacts the type of retirement. You exactly. What does this program forced the business owner really Antonio to do. It it it forces him to release the reins of control when we talked about. That or chart right so what is what is look like today and political look like a year from now or what is it gonna look like. Three years man and three years from now domain should only be one box when. And they asked the CEO you know most CEOs that I've coached. They do everything because they have a limited believed they can't trust there simply to do the job as well as they can cost themselves money. Right okay. But the goal is I've got a leg of Al technical at a gonna go rains you can do the job. My strength can't be in every. You've got to have strings why I have weaknesses so if usual strength and the delay futuristic. First OK I need to let him do. I think that the young lady over the year two yeah okay I just need to be to see. No with San Antonio do most of the individuals who have worked win as do most business owners find out a little difficult to do it at times depending upon business review and error here I'm I'm an executive coach to sue when I went talked teaching a leadership. Three things have to be a mountain eagle relationships and results in and most business owners have tremendous egos. And I don't knock the report because you have to have an ego to feel comfortable with taking risks or. And to have enough faith to believe you can do something that you don't see. OK so I'm not knocking the eagle some eagle is great. But that too much. Into church and and when you're not comfortable and know I know what doctor right now on these army. I've been marketing tool he's told his product I don't delegate OK so he's doing her job his job. They're job he's going around a room seeing patients whose cost himself. Okay but that being is. At some point he's got to let that go. You know on the cost some leaders want to be the hero it can't get down this outcome you know. Know you cost yourself money can ask not your highest income reduced and. I don't think that sometimes too I think Antonio is the mindset of all of us whether we're business owner or we're working for someone as an employee. It's like when it comes time to take vacation even when we're sick now. And were told please if you can try to stay at home don't come unless you absolutely have to I think a lot of times we just saying well. I think we'll be able to function without them yet was what's gonna happen with me not being there and that's not saying that someone else can't do it. But we also at the same time we have a certain way of doing things that the other individual is it gonna do exactly the same way trust with which. We do that's right and and that's why you see more organizations. Operating in a team yeah exactly now because even if you can't do it someone Mateen can pick up the slack if you lose it. Of application but but to answer your question you know to expand on eagle. Can really. Make it tough for them to let. That means goat a lot of times eagle won't allow them to your feedback and guess what you weak in this area mr. seal into abandoning you. All or mitigate you know yeah we get this problem and I your solution but that got a better news. OK so so let us at the hardest thing for them to do is to realize you know what I have got Smart people around Africa cup team. And don't I don't share this with you to your. Pastors. And Lou. OK I have people in and the pastors or leaders to believe that church is a business. OK so something anyone leadership position the past is the CEO of the church. Kind monies passing hands. They've got a staff you know announcing any business. They have been handed everything. Can't do you cost yourself when I analog act and a lot of cases somebody's really talented. You know particular area right and you've got your hand I didn't know and you're keeping them from really letting their talent. The only. And that's Costa to. It's an interesting point you're absolutely right because you do have those situations where you. Have a good person in place and you know what they're skill set is and butchered not allowing best skill to shy guy to have doing OK yeah you've got to be the hero yeah. It is it is a process that that just really take some time. And you have to be willing to make those necessary adjustments to contribute to that success. I think it may have skipped over question India and if it's something that you've already said. The nice thing about a program like this which by the way our radio family if you just tuning in. I want to indeed say thank you for your great company the week in addition of community while I have business marketing coach Antonio McCoy. With MC Howard business coaching joining me Rene Von. And they just thank you surf the money they don't know if you find a job with sharing this information. Whether we are. Current business owners or we are looking to become. That business owner or that entrepreneur or if you will of our business but the question was this what are some other things the business owner should. Should the business owner be thinking about when preparing that business or either the succession or the sale. Is there any being anti intellectual property. I want either that the business and a miserable keep myself in extreme right from. Excuse me again for you know how you wanna find it. You know who's going to be in what role. OK in other words this person has this deal to be here do need to be urgent need to beaten over in this department and you really. This program really make you take a look. I'm look at the systems that you have a new business was the process if this system isn't working right we've got to fix what's missing. Okay why is happening because this is me is what we've gone and it is what it's what what strategy you know there were other opportunities. What the business to exploit from a market standpoint that they're not doing now done OK because at into the date is summarize the committee copy what you're doing. If you're not constantly innovating. To stay ahead of the curve reinventing yourself that's that's business you know OK again. That makes the justice more valuable he's an inch more money. When you send it. You know that's a great point because the one thing you know even as an individual that is not the business owner I'm sure as consumers. That we notice there are a lot of businesses. That can do the same thing on the question then becomes. What makes you stand out where I don't go to business day I wanna visit US business. BCD and so on and so forth to the banks are prime example yeah used to be you go to bay. You you started checking account you start to see the camera and you got all exactly now banks are doing now. Insurance and they're doing financial advising. On I think I think they're doing it was something Assad they would that was shot. But but again they're reinventing himself eggs. Even though the insurance companies now called the name but I know what issues I have a bank. And is there they can refinance your house really do original purchase right that we financial. This particular bank when you pay your insurance know. Know when you pay they got a it would demanding a critic mark but when you pay your credit card cash back you do it and you can use it to make your insurance premium. Pay your insurance premium. So if you're not again if you're not in the what you see these companies doing. As an entrepreneur or you you you need to be doing it too there's a reason they're doing it if you can't make enough money just just do when chicks. Savings into Malone and you know I go back to these and customers they are leading insurance. I know how much money they got on the financial planning. Are really trust me. One hackles you know. Very good point very good point Antonio before I get to this next question. This will be a fine time to definitely ask you before our conversation comes to an end. For someone who is listening right now and they're singing and you know I really need to get in contact with you what it is of course obviously. Yeah the best means or most direct means of doing so. Two couple ways one you can go to web site. Exit the number two succession dot com on my contact people was beer and you can submit your first in an email have a nice report their I think you must do if you want extra business profitably. Got a report you can I'm planning on numbers here. Or you can email me and Antonio at MC Howard business coaching. Dot com or you can call a shoot me text at 336. 575992. Okay and will make sure to repeat that information just now you talked about earlier especially for that baby boomer. That is at that point of succession. Wanting to sell the business looking to pass it along especially to an existing family member. You have a very rewarding moment to share with us about a client in particular share their story with the Syrian community focus so quick. Your client. Tickets so we gotta be and knew it was it was a gentleman he's I think he's probably 66. Umps you know Adam in the program and a passage you know you wanna sell the business but he won a pass on to your son he's well I don't know. It's I've got somebody who wants to buy it. And my son's not quite sure he wants to take right. Tested OK can I bring my son in the program sleep papers and commenced a program and down. The first in the first module. There's apportion what we said well if you're gonna succeed you gonna do this if you're gonna fail you gonna do this. The intimacy so which one you gonna do now son was sitting across from your son's 26 years oh my sixpence. He looks at his son in front of me. That's as well so on. You want to be as he said that we can sell it. You can take a piece of revenue cash and I can take a piece we or. You can run the business you can have a good living for your family. You know right in some things take the business to the next level. And he looked is data from me as head of the Ferraro hopefully if we're going through this program yet. I want to take the reasons one and about brought me to tears because I was like here's a son handing and and the business was doing extremely well. But it could go to the next level. Right now doesn't have a website. Does have a web presence presence at all so you know. 2620 seminoles would get we get that stuff in place we talked about it. But to see this on say I'm somewhat taken. You know he made the decision right there in front of me do now is just might well help me. Absolutely and also Antonio is just reeling. Goes to show that you enjoy what you're doing this man and to see that come to fruition the way that it can't. It makes what you do all the worthwhile especially when you're helping yeah in other individuals yeah is like damn thing. What an exciting new moment in yeah and what do. An excellent way to bring our program today to an end as always Antonia you do sets up fantastic. I. Owe you so won't make any time you make these. With the help from you then that this is what radio family and community focus is all about Antonio please repeat your contact information before we were. Oh number 3365759920. You can call it X. Email Antonio MC Howard business coaching dot com or you can go to the website exit the number two succession dot com. Thank you sir will you know me there are no goodbyes. So just and so that next time. I look forward to it you toot and thank you radio family likewise for the good things that you're doing in our communities please keep up the great work. And please come back next weekend joined yours Charlie read Avon. And members of our community focused family. We do get the word out and we do wrap up another great weekend edition of community focus. Enjoy the rest your day and the rest of your weekend and until that next time please take care.