Dave Lorenzo (00:00):
Hey, now it's the Sunday special. I'm your man, Dave Lorenzo, the godfather of Growth, and we're here with Nicki G. Hi, Nicola. How are you?
Nicola Gelormino (00:09):
Hi, Dave. I am excited to be here.
Dave Lorenzo (00:12):
How are you? I am thrilled that you're here, and I'm excited that you're excited. So we got a lot to talk about today, Nicola. I have not seen you. I have not spoken to you. I mean, we just spent two hours together staring at each other, really just doing nothing, which could have been probably more productive, but it was fun to see you. Anyway, let's tell everybody what happened this week in our business. So for me, the most exciting thing is that we've got a website that's up and running. So you can go right now, folks to exit success lab.com. Exit success lab.com. Just type in those words altogether and you can check it out. Click the little box if you are a professional, meaning a lawyer, c p, a, financial advisor, consultant. Click the other box if you're a c e O or a business owner and see where it takes you.
(01:04):
There's an application process there to join us or to apply to join us. Then we also have articles up there. I wrote a really nice article and put it up there about all the different ways you can potentially exit a business. Well, it's not all the ways, but it's a lot of ways. It's 3000 words worth of ways. So that's up there, and I'm working. I worked today this morning. Nicola, I didn't even tell you this. This is brand new information for you. I worked this morning on a glossary. Yes, an actual glossary. You didn't think you would hear that word today of definitions that go into business strategy and exit planning, and I came up with, let's play a game, Nicola. Guess how many words I came up with for our glossary?
Nicola Gelormino (01:50):
I have no idea.
Dave Lorenzo (01:51):
Okay, we'll do higher or lower. Go ahead. Higher or, I feel like we're on the prices right here. Okay. There's a little man on the mountain going up. Okay. Higher or lower. Go ahead. Prices,
Nicola Gelormino (02:02):
Right rules are as high as you can get without going over.
Dave Lorenzo (02:05):
Without going over. Very good, Nicola. See, you're on your game today. Crank up that patch, baby. Alright, let's go. What's your first guess, Nicola, for the number of definitions?
Nicola Gelormino (02:17):
Oh, for the number of definitions. Sorry, you said words. I was trying to think of word
Dave Lorenzo (02:21):
Count. I did the words and the words. It's a glossary. Words without definitions. Not so good. No,
Nicola Gelormino (02:26):
I thought you meant word count. Very different. Okay.
Dave Lorenzo (02:28):
Oh, no, no, no, no. Yeah,
Nicola Gelormino (02:30):
That's why I was sitting here going, well,
Dave Lorenzo (02:32):
Actually, you bring up a good point. So this is how we're going to play the game. I'm going to give you the total word count and you can guess how many definitions there are. But here's the thing, Nicola, the definitions also include examples. Okay? So the word count, ladies and gentlemen, if you're playing along at home, pick up your pencils. The word count is 2,800. So there are 2,800 words, but each definition includes an example. We spare no expense with the sound effects here on the show.
Nicola Gelormino (03:10):
Okay? I don't want to go over, okay, are
Dave Lorenzo (03:13):
You ready? Have you locked in your answer? Yes. Okay. Nicola Gel. Armino, what is your answer?
Nicola Gelormino (03:20):
15.
Dave Lorenzo (03:21):
O h,
Nicola Gelormino (03:25):
Those are long examples. I'm
Dave Lorenzo (03:28):
Alright. So we're doing lower or higher you. You have not gone over. So you are under, you are. We're going to give you three chances, just like little rapid fufu. We're going to give you three chances, Nicola. Okay? We're going to give you 25 seconds to think of another answer.
Nicola Gelormino (03:49):
22.
Dave Lorenzo (03:50):
22 judges. 22. Is she right?
Nicola Gelormino (03:59):
Alright, just tell us what it is.
Dave Lorenzo (04:00):
Okay, Nicola, you've got one more chance. Now, even on Family Feud, they get three strikes. Come on, Nicola, you got to try harder than this.
Nicola Gelormino (04:08):
It's a long glossary. I'm actually really impressed.
Dave Lorenzo (04:11):
800 words with
Nicola Gelormino (04:13):
Examples, but your examples, you're a good storyteller. Your examples could be very long. That's why I'm undershooting the number.
Dave Lorenzo (04:20):
Okay?
Nicola Gelormino (04:20):
Okay. All right. So
Dave Lorenzo (04:22):
The tension is thick.
Nicola Gelormino (04:27):
26.
Dave Lorenzo (04:31):
One more. Alright,
Dave Lorenzo (04:33):
What is the correct answer? The correct answer is 65
Nicola Gelormino (04:38):
What?
Dave Lorenzo (04:39):
65. We dive above a lotions and examples. Yes, your boy was typing away on that plane last night. I was cranking those bad boys out. So we've got 65 different definitions for terms that are used in business strategy and exit planning, and that's going to be a huge resource for everybody that comes to our website. We're going to link to them from articles. So if people want to read an article and they see the word, I don't know, m and a or mergers and acquisitions, and they click on it, they can be taken right to that definition and review it because it pops up in a new window. They can go back to the page. Really cool stuff on the website. So that's one of the really great things that we pioneered this week also, which you may have seen, ladies and gentlemen, if you looked at the little picture that goes along with this episode, because this is an audio only episode.
(05:32):
The little picture that goes along with this episode that showed up in Apple Podcasts. If you get your podcasts, they're Google Podcasts or Spotify. That little picture is a report that Nicola and I are writing. It's the Exit value roadmap. Now, Nicola and I are really just the aggregators, the editors of that report. That report is being compiled by subject matter experts. Now, Nicola and I are each taking a couple of sections of that report, and we're going to write it ourselves. But the subject matter experts are helping us with each of the 10 key value drivers of businesses, and that report's going to be available to you, we're hoping within the next four to eight weeks. So if you're listening to this, you can go to my website right now, you can see that report there, and you can opt in to receive it dave lorenzo.com. But we're going to make it available on all of the websites. We're going to make it available with every podcast episode in the future. But you heard about it here first. What do you think? Nicola's some pretty good production this week, huh?
Nicola Gelormino (06:34):
Oh, we have been very productive this week, and you have been extremely productive with your definitions. So for the roadmap, keep in mind, so we are building on the key drivers of value that you've been hearing about. So you've been following our 10 parts series on the podcast. You've been hearing about a lot of these. We'll be going into much more detail using those key value drivers, and we will also be using our subject matter experts to weigh in on them, so you get our expertise on the matter and you get subject matter experts in each of the categories. So we're building a pretty comprehensive manual that we're going to provide to you at no charge to go along with the business that we're building.
Dave Lorenzo (07:17):
I'm really excited about that. We're looking at about 1500 words for each of the sections of the report. We're going to include that article that I wrote on the website that has all the different exit strategies in it as well. That's a 3000 word article. Maybe we'll even include those definitions since I'm so proud of them, and I did such a great job with them. But this week it was quite productive. I also did two CEO O sessions, and we introduced this process to the CEOs at those sessions, and it was very well received. The session I did on Wednesday, there were, well, we had over 50% of the room was interested, and they asked for a copy of the report. One guy even wrote an email. I forwarded it to Nicola about how excited he was, and he had already sold a business for like 20 million, and he's building his second business.
(08:11):
And if he had our systems and strategy, he might've even gotten more for his business in the first place. And then the second day, we had some key executives in the room, and there was a lot of excitement around thinking about the end of your business when you're just starting out or thinking about the end of your business while you're working on it to build value along the way. And that's what this is all about. We want to give you options for when you're ready to exit. So, Nicola, what do you think is going to happen next week? What are we working on for next week?
Nicola Gelormino (08:44):
Next week, we are focusing on making sure we are getting this report done. That's number one. We're also continuing to build out our bench of experts and working on identifying CEOs to join us. We've got a lot going on.
Dave Lorenzo (08:58):
Yeah, we do have a lot going on. And if you know somebody who's a C E O who might be interested, you can send them to exit success lab.com. Their applications are available right now. If you're a professional and you'd like to join us, you can go to exit success lab.com right now. Nicola, you got some big stuff coming up in the legal world this week, so I got my fingers crossed for you. I'm hoping that all goes well without giving you any detail, folks, so that we don't blow any confidential information. Hopefully things go well for Nicola. Hopefully things go well for you. You got any parting thoughts before we leave today? Nicola,
Nicola Gelormino (09:36):
Keep following us. This is an exciting journey. What I love about this is you're hearing this unfiltered as Dave and I are both coming off 60, 70 hour work weeks as entrepreneurs. That's the life that we chose to live, and we're doing this because we're really excited about it. So forget what we've been doing all week, we come together to record these shows for you because we're really excited about this idea. We think we have a great, great business idea here. We've been hearing about it from others who are listening to it and getting excited and getting us excited. So we wanted to be able to share that with you, and we hope that you continue on this journey with
Dave Lorenzo (10:15):
Us. That was a really good Carmella soprano impression. You probably don't know what I'm talking about, but in season six or the middle of season seven, the whole world is crumbling down and Carmella soprano turns to her friend and she goes, this is the life we've chosen. So yeah, we're freaking exhausted. We're wiped out, and we're here documenting it for you on a Sunday. Thanks for joining us. This is the Sunday special check back with us here tomorrow. I think we got something really cool for you tomorrow. I think we got, if all goes well, if all goes well and there is no hurricane or lightning strike, we will have a really interesting interview for you tomorrow. So check back with us here tomorrow for another great edition of the Inside Bs Show Tomorrow. We've got a great interview for you. This is the Sunday special. We're here every Sunday with this show where we document what we're doing in our business. But every weekday you can find us here doing the Inside BSS show. I'm Dave Lorenzo, the godfather of growth, and she is
Nicola Gelormino (11:20):
Nicki G.
Dave Lorenzo (11:21):
And we'll see you back here again tomorrow. Folks, thanks for joining us. Hey, if you like this, do us a favor, huh? I mean, we're killing ourselves here for you. Do us a favor, share the show with some people. Will you call a friend right now? Tell 'em you just listened to this great show with these two lunatics and they have to listen to it. We would really appreciate it. See you tomorrow.