Dave Lorenzo (00:00):
Hey, now this is the Sunday special, and I'm Dave Lorenzo. We're here with Nicki G. She's joining me again for today's show. Good morning, Nicola. How are you?

Nicola Gelormino (00:09):
Good morning, Dave. I'm great. How are

Dave Lorenzo (00:11):
You? I'm great. Did you just spill like a thing of water all over your desk over there?

Nicola Gelormino (00:16):
No, but there are mornings I've done that.

Dave Lorenzo (00:18):
Okay. So this is the show where we talk about what's going on behind the scenes in our business. And today's topic is, well, let me start off by saying that you're in the middle of a couple [00:00:30] of really big litigation cases. So I want to give you a couple of updates on what's going on. I did, I want to say I can look at my calendar, but I think it was seven interviews for professionals to help entrepreneurs drive the value of their business so that when they exit they have more options. And all seven of the interviews I did with professionals were fantastic. We touched base kind of in the middle of the week and we discussed them, but there's so much excitement among people who are attorneys who protect intellectual property [00:01:00] rights and do transactional work like the papering businesses. From an organizational perspective, there's a lot of energy around people who keep the books in businesses and CPAs.

(01:15):
We've got a couple of people who handle sophisticated insurance products to protect business owners with exit strategy that are super excited. And of course we've got financial planners who love to dabble in the realm of business valuations, but would [00:01:30] prefer that we deliver them a business that's going to provide a huge bag of cash and then they'll help the entrepreneurs invest it. So all of those people are super fired up. They're really excited, and I'm going to pass along a handful of them to speak to you to talk about the opportunity to learn through the beta process and then hopefully on their part become subject matter experts. So this morning we're looking at different logos and want to share your thoughts with the folks on what the logos are.

Nicola Gelormino (01:57):
Absolutely. So let me just start off [00:02:00] by saying, when I did this before for my firm, I took way too long thinking about it, but throughout that process I've realized what to focus on as I do it now again, which as you know, you do something once and you do it again and you just get better at it. So in taking a look at the mockups, I'm really thinking about what is the logo itself conveying to our audience? So right now we have a very prominent exit and Success lab is maybe a little less prominent in all of those, the words

Dave Lorenzo (02:28):
Themselves.

Nicola Gelormino (02:30):
[00:02:30] So what I'm wrestling with is can we readjust that so we're not Overemphasizing exit, so that we're downplaying Success lab and thinking about what would I be thinking if I'm our audience viewing this logo The second I click on that website, I go there and what is my first impression? That's what this is. It's the audience's first impression when they see it. So we're putting our thought into that now and trying to rework it a little bit because we want to really convey exactly what we're doing. [00:03:00] Success Lab is front and center, but also we have to convey exit strategy. That's what our focus is going to be. That's the entire concept here. So it's how do we strike the right balance between making sure we're hitting both of those and not losing the audience who's focusing on one over the other,

Dave Lorenzo (03:17):
Being somebody who's in front of CEOs every single week, almost every day, and helping them understand how all of these things fit together to increase the value of their business. [00:03:30] You have to have an end in mind. And the reason that we have to put exit in the name is because that's what you're working toward. So whether you choose to exit or not as an entrepreneur, you will be exiting your business. Either they're carrying you out or you're going to exit on your terms. So let's build the value of your business today, and then you can choose to exit at any point if you follow our systems and our methodology. Now, as it relates to the logo, at this stage in the business, I'm not going [00:04:00] to be married to any particular type of logo. So whatever we put up, if you're listening to this and you go to the website, you're listening to the six months from now, and you go to the website and you say, Hey, that arrow coming out of the side of the light bulb there that looks like a little penis, then that's fine.

(04:15):
We'll take your thoughts into account. If you could see Nicole's face, she's so mature about these things and I am the biggest juvenile, they brought us this logo with a light bulb and there's an arrow pointing out of the side of the light bulb. [00:04:30] And without the right shading, it looks like a little phx symbol on the side of the light bulb. So we're trying to figure out the best way to look. If the light bulb's going to have a penis, it damn sure better be a big penis. I don't want a little tiny penis coming out of that light bulb. So these are the things that we're discussing behind the scenes. And in all seriousness, part of the joy of working with a partner is having someone [00:05:00] to look at these things and give you a contrasting opinion. If I were picking this thing myself, it would be just the three words exit success lab that would be on the website and we'd be done.

(05:12):
So I'm really glad that we get to do the back and forth. So those of you at home who are working with somebody else and you're trying to decide on a logo when you're in the infancy of your business, look, progress, not perfection is what we're going for. So this week we are sending the mockup [00:05:30] back the third time to the designer and she's really patient. So she'll give us unlimited revisions and hopefully next week we'll have a logo settled and we'll post it in the show notes so that you can see it. And then I can work with the web designer to have the web designer take a look at what we're doing and the web designer can put the logo up there and we can start with copy and creating an actual website. So Nicola, what do know about the business this week that we didn't [00:06:00] know last week? What have you and I discussed that we can share with folks that we know this week about our business that we didn't know last week?

Nicola Gelormino (06:06):
What we really thought about this week because of some of the feedback we were receiving is that we've hit on a concept that we don't think is already out there on the market. I mean, we obviously came up with this idea saying we haven't seen this, but others are now validating those beliefs saying this is really different than what I've seen and heard about exit strategy. And you have a lot [00:06:30] of individuals out there who have a very specific focus on exit strategy, whether it's a financial professional or it's a business broker. And we have really come to realize that we've got something great here and we are sure hopeful we are right and we think we are. And if so, this is going to really be a game changer for us.

Dave Lorenzo (06:49):
Yeah, I'm glad you brought that up because you and I were in a meeting on, I can't remember what it was. The meeting was in terminal, so it seemed like it was forever, but it was Thursday. And [00:07:00] in that meeting there were three different people in three different industries who introduced themselves as people who have something to do with exit strategy. And we can walk through the different people who position themselves as experts on exit strategy. And let's talk about what makes this concept different. So financial advisors, first and foremost, they say they're experts on exit strategy and here's what a financial advisor will do. Financial advisor's going to sit down with you as a business owner, and they're going to say to you, [00:07:30] how much do you need to retire? And you're going to tell 'em, or they're going to calculate better. That's probably what they'll do.

(07:36):
The financial advisor will calculate, Hey, what do you need to retire? This is what you need. This is when you want to retire. This is what your lifestyle needs are going to be. And then they'll say, that's what you got to get for your business. So you need, so Nicola, you need $2 million to make it through your retirement. You're going to retire at 65 and the actuarial table says you're going to live to 85 or 90 based on your lifestyle each [00:08:00] year you're going to need X. So you need $2 million to retire, Nicola, you need to get $2.2 million for your business when you sell. That's what a financial advisor is going to tell you your business has to be worth. And then they're going to go out and take your business and go to a business broker and say, Hey, $2.2 million. That's what this business has got to sell for.

(08:19):
And how many times have you heard that you've been in rooms with, there's a ton of financial advisors in the networking organization we belong to. You're on the board of a charity, [00:08:30] you're around a ton of financial advisors. Financial advisors will go out and they'll get this certified exit planning professional status from one of four different organizations that provide it. And then what do they go out and say, they grab their business card. We're not on video. I'm showing Nico a business card right now. They go out and they grab their business card and they go, Hey, Nicola, look at me. I'm a certified exit planning professional, but I'm also a financial advisor. True or false?

Nicola Gelormino (08:55):
Oh, yes, yes.

Dave Lorenzo (08:57):
So that's one of the people we'll see. [00:09:00] Nicola, what do you think is wrong with hiring a financial advisor to help you with your business exit strategy?

Nicola Gelormino (09:06):
Well, they're only focused on hitting that number, so it's a very narrow view of what your business may be worth. They're not considering other options for your business and other potential value that could frankly be far greater than what they're looking at. Their goal is to get you from point A to point B, and point B is the exit for them. So they're just looking at how do we do that from a number standpoint? [00:09:30] And they're excellent at doing that. They're just going to back into it and get you there and sell it for that number, but they're not thinking about that beyond that scenario,

Dave Lorenzo (09:38):
And they could care less about how you get there. They just want the bag of cash and they're not going to give you any guidance or advice specifically related to your business. And if they do, why on earth would you accept business advice from a financial advisor? Let 'em pick your stocks. Let 'em pick your mutual funds, let 'em pick your annuities. Let them help [00:10:00] balance your portfolio, but do not ever let a financial advisor tell you how to fix your business. The second person that we saw or we heard from yesterday was, or Thursday was the attorney. And I'm going to be really gentle because I know you're protective of your brethren in the legal profession, but there were two attorneys in this meeting who were like, whoa, I'm the quarterback of the transaction and you got to come to me, right? You heard one attorney said it, I'm the quarterback of [00:10:30] the transaction. It's not the first time I've heard it. What's that?

Nicola Gelormino (10:32):
It's not the first time I've heard that in the concept of the M and a world, they're all quarterbacks.

Dave Lorenzo (10:36):
Everybody's a quarterback. There's no wide receivers, and God forbid there's nobody on the front line blocking. Everybody's a quarterback of the transaction, right? And I pull all the, I pull everything together. You know what? Without somebody creating value in that business, the quarterback never takes the field, right? If you are going to exit your business, the last person you call, the very last person you call is [00:11:00] the lawyer. And there are three reasons why the lawyer is the last person to call. Number one, lawyers know nothing about building business value. The only people who know less about building business value are doctors, and you wouldn't call a doctor to help you with your exit strategy. So the lawyer is the last person to call for that. Reason. Number two, it is freaking expensive, especially a really good m and a lawyer is incredibly expensive. So the minute you call [00:11:30] a lawyer, they're on the clock.

(11:32):
That first conversation all the way through to the point where you take the check to the bank and deposit it, that lawyer is billing you and even after the check goes into the bank and you deposit it, you're going to get a bill in your mailbox, I promise you. So number two, it's freaking expensive when you call the lawyer. You need the lawyer, you have to have a really good lawyer, but you don't call 'em until everything is done. And then number three, if you're negotiating business terms and you're a business [00:12:00] person, you have to negotiate the business terms. If your lawyer is negotiating the business terms for you, the focus is on risk and not on value. So those are the three reasons why the lawyer is the last person you call in the whole chain of people you put together as far as a team goes, okay, Nicola, I'm going to turn it over to you and you can tell me why lawyers are the best thing in the world, but you have to agree those three points are really valid.

Nicola Gelormino (12:30):
[00:12:30] Absolutely. Actually, I'm not going to disagree with you on this, Dave. I may would bring in the lawyer a little bit earlier when you know that the deal is pretty much done, you want the lawyer to at least get a headstart. Sometimes you're under a time pressure. You also don't want the deal to fall apart because the lawyer's taking too long to put it together, so you start looping 'em in a little bit before the end of it. Otherwise, I fully agree with you, you want to be the person who is negotiating this exit, not the lawyer's, not thinking about that. I'm with you. The lawyer's thinking about the transaction [00:13:00] itself and really focused on the legal aspects, the potential risk, making sure that all the legal terms are favorable to you and there's nothing that's going to surprise you or hurt you down the road.

Dave Lorenzo (13:12):
Yeah, and the lawyer's an incredibly valuable part of the team. I dunno if they're the quarterback, maybe they're a running back or a wide receiver or perhaps a tight end, but they're certainly not the quarterback of the transaction. If they're the quarterback of the transaction, you'll pay a huge portion of your exit [00:13:30] to the lawyer, especially if you've got a good one. The third person that we see, and we didn't see 'em on Thursday, we didn't see them on Thursday, but we saw 'em a couple of weeks ago in another meeting we were in, is the C P A. So you need to get your C P A involved because of course your financials are a huge element of the value drivers in your exit strategy. They're also a huge element in what you need to turn over [00:14:00] at the very outset. So your C P A has to be involved and they have to be involved early, and they have to be involved frequently, but you don't want the C P A telling you what the value of your business is, and you don't want the C P A helping you try to increase the value of your business because they got a hammer and everything they look at is going to be a nail, right?

(14:19):
You tell your C p A, how can I increase the value of my business from an operational standpoint? Bang, bang, bang, reduce your operational expenses, cut your staff. Oh, how can I increase the value [00:14:30] of my business from a technology standpoint? Bang, bang, bang, go with cheaper software. How can I increase the value of my business from an HR standpoint? Bang, bang, bang. Oh, your competitive wage analysis is really off. You're paying too much for your talent, and none of those things will help you in the longterm because maybe you're paying too much for your talent because you have unique talent that nobody else in the industry has. Maybe you're paying a little bit more than industry average for your software because your software is proprietary and it's a competitive [00:15:00] advantage in your industry. Maybe on the operational side, you're paying a little too much or you're a little bit heavy in your operational staff because you provide a white glove experience and that white glove experience allows you to command a fee premium. So you never, ever, ever allow your C P A to tell you what the value of your business is. What do you think, Nicola?

Nicola Gelormino (15:23):
I agree with that. Your C P A is not trained in valuing your business. What your C P A is great for is [00:15:30] looking at the financials and helping you understand them, helping you see trends and distinctions in your financials that maybe you wouldn't otherwise pick up on. I mean, think of them as kind of like the translation expert for your financials so that you get that information, you understand it, and then you as the one who's the expert in your business can use that information to increase the value of your business because you know it best. So once you understand, okay, this is something I'm seeing in the financials, maybe your expenses are [00:16:00] really high here. Have you looked at that? Your account can help you focus in on what's causing the numbers to look like they look and what the big picture is in the financials, but you need to take that information as the business owner and utilize that to increase the value of your business to get to your exit strategy.

Dave Lorenzo (16:18):
That's right. That's right. And then when you're ready, when you have everything lined up, you bring in a valuation expert and sometimes the valuation expert resides in a C P A firm and sometimes they don't. We'll talk about that in a different [00:16:30] show, but your accountant is not going to be the person that helps you increase the value of your business for sure. They're the person that's going to be with you right by your side organizing all of your financials. They'll help you translate your financials and make sure that you don't have any leakage in any of the areas of your business, but take it with a grain of salt because your accountant should be there as an advisor. They're not there to run your business. The day that your financial people start [00:17:00] running your business is the day you need to exit for sure, because that's when your business starts to get squeezed to the point where the experience can really, really suffer.

(17:09):
The third person that I want to talk about that we didn't see in this, but we see 'em all the time out in the field is the broker or the m and a expert. There's an m and a expert certification. There are investment bankers for bigger businesses, and then there are brokers. And brokers of course are a valuable part of the [00:17:30] team. I'm going to separate these into two categories, Nicola. So brokers from like investment bankers or m and a experts, so is on the smaller side, and what usually happens is the business owner will, let's say they get a health diagnosis and they know I got to exit in the next year because I have to take care of my health. You're not going to die, but you want to take care of your health. Or the business owner's spouse comes to him or her and says, listen, you've been working for [00:18:00] 40 years.

(18:01):
It's time for us to stop and smell the roses. I need you to think about what we're going to do for the next 10, 15 years now that the kids are out of the house. And that's when the business owner for the first time thinks about exiting. So their first phone call is maybe to their C P A and the C P A introduces 'em to a business broker. That's usually the way it happens. Now, here's where I would caution you to not make that call to the business broker yet, because the minute you call the business broker, you're on the clock in a different [00:18:30] way. The business broker is not going to charge you any fees upfront, and they're going to do their own, I would call it kind of a back of the envelope valuation based on your industry and based on what they see comparable businesses sell for.

(18:43):
But the minute you agree to work with a business broker and they list your business, they're going to start bringing buyers to you, and their incentive is to get the most money for you of course. But time is of the essence, [00:19:00] and they've got 50 businesses if they're really good and they've got five, if they're not so good, and each one of those businesses has a time investment associated with it. So they do a mental calculation of how much can I get for this business with the least amount of time possible? That's the mental calculation. A broker does just like a broker who's selling a house, so they're going to look to put you in front of no more than three people who are going to offer you money for your [00:19:30] business, and then they're going to say, choose. They're not going out and doing a full-blown market analysis.

(19:36):
They're not going out and creating an environment where they're creating a market for your business. They're going to three people they know who are buying your business. One is probably doing roll-ups in your industry buying multiple businesses. The second one is somebody who has retired from another business and they want to get into your business. And then the third may be a partner or a strategic partner for you or somebody in the industry who wants to buy your [00:20:00] market share, and they're going to say, here you go. Here's three. Choose. And that's how your broker is going to handle it. And if you don't choose, what they're going to do is they're going to say, okay, fine. I'll keep looking. And then they will appropriately ignore you until you pester them enough to come back. That's just a broker model for any type of service. That's the way brokers work, and it's the nature of their business. So if you want to take a quick exit, then call a broker and take what you get. Pick from one of those three. But until you've maximized [00:20:30] the value and put together a marketing package, you don't want to call a broker or better yet create your own market and then the broker kind of is unnecessary if you create your own market. Nicola, what do you think about brokers?

Nicola Gelormino (20:43):
Yeah, I think they're very external oriented. So thinking about looking at the market and how that's going to be used to value your business. This is very similar to a real estate transaction, right? You're looking to purchase, and I'll give you an office building. You're an investor. You want to purchase an office building, [00:21:00] you go to a commercial real estate broker and they are going to know exactly what the market is for that building. Here's the range you can expect to pay Nicole or Dave, here's the inventory that's in the market. Let me show you the last few sales in that particular area. So you have an idea exactly what you should be paying so you're not overpaying so they know exactly where the numbers are. They're going to give you the three options. So they're not just saying, here's one that's the only option and you're going to choose from it.

(21:23):
Have they done a great job? Absolutely. They have very good market knowledge. They know exactly what you're looking for. They're [00:21:30] going to find you something that hits all your criteria. But when you take a step back, as I started this point with was it's every external focus. It's not internal to your business. They're not looking at your business. They don't know the inter workings of the business. They know the industry that it's in the inter workings of your business. So you may be missing out on other opportunities that can fetch greater value in the marketplace by just using the business broker.

Dave Lorenzo (21:57):
So the second I [00:22:00] bifurcated this element, the second one is the m and a advisor, and these are people who probably have private equity contacts. So if you've got a bigger business, let's say your business is north of a hundred million in annual revenue and it's in a competitive industry, an m and a advisor is a good way to go because they may have private equity contacts and the private equity contacts will do one of two things with your business. They'll either make, I would call it like a hub and spoke model. They'll either make your business a hub. So let's say your business is in a [00:22:30] rapidly growing industry, you're doing 300 million in annual revenue and your business is really solid in the 10 value driver areas. You've done your homework, your business is great. They may take your business and make it the hub, which is the platform, and they may bring in other businesses that are doing 20 million, 30 million in specific niche markets around your platform and bolt them on.

(22:52):
So if your business is the hub, the investment banker is going to be able to get you a really nice value for your business. Now, if [00:23:00] the investment banker has already invested in that sector and they already have a platform or a hub and you're just going to be a spoke or you're going to be a bolt-on, they're going to have a range that they're going to pay you and it's going to be a business math calculation, and they're going to come to the m and a advisor and they're going to say, all right, the Lorenzo gel amino business, look, we get you got a really nice business going there and you're dominant in Florida, and Florida is a key market in this industry. So okay, we'll give you a two x [00:23:30] multiple. Everybody else goes for a 1.5 x multiple, but because Florida is up and coming, we're going to give you two x and we're going to bolt it onto our platform.

(23:39):
And in that case, the m and a advisor is going to be really good. They're going to connect you with the right people. If you're in that sort of an industry, that can be your first call and if your business is nice and clean and all the value drivers are in place, you'll do just fine there. So those are the three of the four. The fourth I think is really interesting. The fourth is [00:24:00] somebody who does kind of what we do. The fourth is a consultant who will help you look at the value drivers in your business and help you increase the value drivers in your business over time so that your business is always increasing in value. It leads the market and it enables you to get a premium. The business that Nicola and I are building is designed so that we don't have a dog in the fight.

(24:25):
We don't care where you want to exit. You want to sell [00:24:30] through a business broker, you want to go to an m and a expert, that's fine. You want us to help you create a market for your business with an external provider and you want us to create an auction and run the auction for you? No problem. We can do that, but we don't have to do that. You can have the m and a advisor do that if you want. Do you want to turn your business over to a partner and get a higher multiple? We can help you structure your business for the next 10 years to increase the value so that you can do that. [00:25:00] You want to sell it to your idiot son Fredo and hope that he smarts up. We can make sure the business can run by itself. So even Fredo can't screw it up.

(25:08):
So if you want more options at the end, that's the business. That's the business where in, we're here 15 years before your exit, 10 years before your exit, five years before your exit, two years before your exit to help you clean up all the value drivers and put you in the best position so that when we bring in your accountant, your financials are ready to go. When we bring in the business broker, [00:25:30] you're ready to go and you're going to get the premium. When you turn it over to the m and a advisor, the M and advisor goes Cow, your business is really set. That's the business that we are in. And with the Success Lab, we have all of these subject matter experts that can help you over the long term, make your business run like a well-oiled machine. That's our goal. You plug your business into our system, we're going to increase the value all along the way so that if your business has [00:26:00] been working with us for a year and you're not ready to exit, but you want to go out and get a loan or you want to take on a partner and that partner is going to invest in the business and get equity, the value of your business is going to go up exponentially over the course of that year.

(26:14):
One of the stories I tell all the time, and we'll use this story to kind of put a bow on our conversation today is years ago when I worked for Concord Hospitality, we had a management company and each of the underlying hotels were owned by [00:26:30] different entities, but the gentleman who owned the management company had an interest in each of the hotels, different pieces of equity in each of the hotels, but he owned the management company a hundred percent, and his business was exploding. He is still in that business today. He's a phenomenal operator and he's a really brilliant business person. He needed money to grow the management company. So he went to one of the people who had invested in multiple properties, and he said at the time, I remember this [00:27:00] like it was yesterday, he said, I want to help the management company explode, and you are a partner in this guy owned engineering and a construction company.

(27:10):
He said, you're a partner in all of these assets. Your construction companies are doing the construction and you're doing some of the engineering work on all of my buildings. I've spent a lot of time with you just like you and me, Nicki G, I've spent a lot of time with you. I know you. I like you, I trust you. I want you to take half of the management company and I don't want to go out and get [00:27:30] a valuation. Here's what I think the management company is worth. Write me a check and you'll take half of the management company. And the guy who was the head of the engineering company also owned a construction company who was also an investor in these hotels, was far more affluent than the gentleman who owned the management company at the time. And he said, listen, you don't want to do that.

(27:53):
He said, when we look back on this moment, you're going to feel like I'm taking advantage of you because your offer is too low. [00:28:00] Go out and get a true valuation on the management company and whatever that valuation is, if it's less, I'll pay you your number, but if it's more, I'll pay you the number of the valuation. Half of that for the business. And the guy was floored and he went out and he got a valuation, and sure enough, the valuation was higher and the gentleman who owned the engineering company paid the half for the management company. And as far as I know, they're still partners in the management company today. If [00:28:30] you look on the website, both of their pictures are on there. And as far as I know that partner, and by the way, they now own a bazillion hotels and they're crushing it.

(28:38):
But the way that partnership started was with the person who, for whom money was less of a stumbling block saying, you don't want to do this. You want to feel good about what you're getting for giving up what you're giving up. And that for us is really the bottom line, Nicola, is [00:29:00] I want the business owners that we work with at any stage of their business lifecycle, whether they're starting their business or whether they're ready to exit or they're somewhere in the middle, I want them to feel like their business is worth as much as it could be worth at that moment. I want them to feel like at any point in time if they need to sell a piece of their business or sell their entire business, that they're not going to get taken advantage of. And that's why I think we're [00:29:30] in this business right now, so that any given point in time, you're going to get the maximum value for your whole business or a piece of your business. What do you think about that?

Nicola Gelormino (29:39):
Absolutely. That's why we're in this. We are both passionate about this and working with business owners for this reason, and we want to be able to help you feel good about the value of the business at any turn. So yes, of course when you exit, but at any turn, I mean we've spoken to business owners who say to us often, I'm sure they, you more than me say, I know what this [00:30:00] business is worth. It's not there right now. They're looking for others to help them get that there because they know best and we really have the passion and the drive to help them do this, and we want to help you get there.

Dave Lorenzo (30:13):
There's nothing worse interest. There's nothing worse than going to a banker for a loan thinking your business is worth X and you can get a little bit of money with some type of an asset in your business or a line of credit and having the banker say, I'm going to give you 10% of what you're looking for because your business [00:30:30] just isn't worth that right now. I mean, that's where we come in. I've helped business owners at every stage of their lifecycle when the banker said that to them, go to private lenders and we do a little work over the course of 90 days in their business and we can make a case for why their business is more valuable, and the private lenders see that value and they're able to give them the loans. So if you're thinking about what your business is worth, this is the place for you. This is, we are the people [00:31:00] you should call because whatever stage of your business life cycle, we want to make sure it's worth as much as possible so that you can sleep at night knowing you're doing everything you can to maximize the value of your business. Alright, Nicki G, thanks for joining me for this Sunday special thanks for coming into the office on a Sunday and spending some time with us. We really appreciate you.

Nicola Gelormino (31:21):
I appreciate being here. It's great to be able to do this in the middle of what's pretty few heavy weeks in my schedule with the trial on the horizon. So I'm [00:31:30] really excited about this business and I really wanted to be here today and appreciate you kind of carrying this forward while I'm battling this out and trying to get through these last few weeks so we can put everything into this.

Dave Lorenzo (31:40):
I can't wait. Okay, folks, that'll do it For this edition of the Sunday special, join us tomorrow as Nicki g and I continue with our regular show. You can see us on YouTube or follow us right here on the audio show. As you know, this is a special for you for being an audio. I guess it's a subscriber or a follower depending on what [00:32:00] streaming service you listen to this on. If you're on Spotify, you're following us, but if you're on Apple, I think you're subscribing to us right now, but we love you and we thank you for being here. Do us a favor, share this with other people. The only way this show grows is if you share this with other people. So if you're an entrepreneur and what you heard today was new or exciting or novel, share this with your entrepreneurial friends. We would love it if you did that. We'll see you tomorrow for the Inside BSS show. Until then, I'm Dave Lorenzo and she is

Nicola Gelormino (32:28):
Nicki G.

Dave Lorenzo (32:29):
See you tomorrow [00:32:30] folks.