This episode focuses on the importance of Assets in the Family Wealth RoadMap, specifically within the business asset class. Tune in to unlock valuable insights for existing business owners, property investors, and individuals transitioning to entrepreneurship. The discussion emphasises the significance of validating business concepts through thorough market research, avatar analysis, and creating a minimum viable product for customer feedback. Follow these essential steps to kickstart their entrepreneurial dreams and lay a strong foundation for future success.
In this WealthTalk episode, we uncover the secrets of Step 5 in our Family Wealth RoadMap - Assets, with a special focus on the business asset class.
Are you a business owner, property investor, or someone dreaming of leaving traditional employment for entrepreneurship?
This episode is tailor-made for you!
We address the common challenge of having brilliant ideas but not knowing the next steps to success.
Tune in and discover how to validate your business concepts with comprehensive market research, detailed customer avatar analysis, and the creation of a minimum viable product for invaluable feedback.
Join us and gain practical insights to kickstart your entrepreneurial journey and build a robust foundation for future success. Don’t miss out on transforming your aspirations into reality!
Resources Mentioned In This Episode:
>> Free Download: 'Validate Your Business Idea – 15 Step Checklist'
Next Steps On Your Wealth Building Journey:
>> Join the WealthBuilders Facebook Community
>> Become a member of WealthBuilders
If you have been enjoying listening to WealthTalk - Please Leave Us A Review!
Unknown Speaker 0:00
In my experience, the two things that kill business owners ability to build wealth independently of their business, which I think is important to build a business, but purpose of business to give you more life is not to suck the very life out of you. And the way it gives you more life is you build wealth as you go. If you can take money from a business once you've got that stability, and then you can claim corporation tax back and invest that money and build future part. Then you created two businesses, one, the business of your wealth and the business of your business. Now, if your business can do both, you get a recurring income business that you can sell or keep on pay you a constant recurring income. That's the best of both worlds.
Unknown Speaker 0:42
Welcome to this week's episode of wealth talk. My name is Christian Rodwell, the membership director for wealth builders joined today by our founder, Mr. Kevin Whelan. Hello, Kevin. Hello, Chris. Just having a little fiddle with my phone, but switched off and focused and ready for action Cruz talked about today, we're locked in for the next 30 minutes or so well, today, we're focusing on one of your favourite asset classes I know, which is the business pillar. And we speak to people every week having done we are members and non members who are at different stages of their business. And of course, we work with existing business owners of all levels, and of course, people still in jobs, but wanting to transition and perhaps have an idea, but not quite sure where to go with that.
Unknown Speaker 1:24
It's interesting, and it yes, you're right. It's it's a fascinating area. And the reason that I love business, more than any of the pillars, not to the exclusion of other pillars, because wouldn't be right to do that. Because one of anything is risky. One business is risky. Which is why we always suggest people look at two businesses, either the business they're trading and operating in the business of building the wealth. And we realise and recognise that often. It's the business owners wearing all the hats, spinning all the plates and juggling all the balls that sometimes don't get round to doing things that they need to do. But enough of that. I mean, the key thing for me, Chris, and while I know you want to talk about this specific, right, where do you where did the ideas come from? And how do you create those ideas? And how do you validate those ideas? I think it's worthwhile as we look at the whole jigsaw puzzle, to remind ourselves that every Everything good is created twice, first in the head of anybody who creates it. And then secondly, through execution. So you've got to start with what's in the head. And you know, the way I would frame it, like any good educator is, by you know, we like a good quote, don't we? Well, builders, I'm sure they are about how about this quote, and you tell me where it comes from right? All the world's a stage.
Unknown Speaker 2:51
And all the men and women are merely players.
Unknown Speaker 2:55
They have their exits, and their entrances. And today we're going to talk about the entrances, but just as important to talk about their exits. And one man, it should be more man or one woman, of course, but it was written a long time ago, in his time plays many parts. It's a Shakespearean quote, of course, from from as you like it. And it's, it's often called the seven ages of man, the quote, and I'd use that quote, deliberately to talk about, at least as an introduction to the seven stages of business. And men or women obviously, can create businesses. And so it's no issue with that Shakespeare's time was different. But the point is, the value of a business is not restricted or hindered by the conventions of, let's say, the stock market, or the interest rate market, or the price of a market, because the essence behind business is solving a problem
Unknown Speaker 3:59
that adds value.
Unknown Speaker 4:02
And there's no limit to how you can do that. And if you find a problem, that's big enough, that and an a solution that's worth finding, that's valuable enough, the ROI or the return on your investment is absolutely limited. It's unchecked by anything, which is why it's so much easier if you've got the right
Unknown Speaker 4:27
thoughts in place at the beginning, to not just create a business, Chris,
Unknown Speaker 4:35
but also to buy a business from someone else who's at the different stage of business that you want to recognise those stages. So I'm happy to do a whistle stop on the seven S's if I get my teeth in today, since the seven SS or the seven stages of business and then because we couldn't give all of them justice in a
Unknown Speaker 5:00
30 minute podcast credits, we probably best focus on maybe one or two of those stages. Yeah, that sounds good. Yeah, that's it. Yeah. Okay. So the seven S's are almost a bit like the seven ages of man, they flow from, you know, germination of an idea right the way through to the exit. And sometimes the exit is very painful, like a death. But sometimes it's planned. And that's the idea. So the first is the seed. So the first S is the S for seed. And I'm fascinated by the seed of an idea. And that often, is the precursor to our businesses, because you can't have a business and just you could copy a business. But if you create one, there's always an idea. And even if you copy another business, your idea is how I could do that better.
Unknown Speaker 5:50
And it's often that's really good thinking. Because not always the first mover in a space, that creates true wealth. It's often the second or third movers who then and that's true in all sorts of industries, as we've seen, you know, not the first inventor of a computer makes the money, not the first inventor of the light bulb, makes the money, and so on, and so on through history, but the seed is everything. And I think it's useful for you tonight to talk about wealth dynamics, maybe, Chris, and where that seed starts and how you begin to see Are you or are you a creator of seeds and ideas? Do you have 50 ideas before breakfast and do at the weekend? Or are you the sort of person who kind of scratches your head and watches in or has other people create ideas or get frustrated with your husband, wife, spouse, partner, business partner, whoever, because either they lack ideas, or they so full of them? And there's a danger in both of them, isn't it not having enough and having too many of both danger signs. So that's the seed.
Unknown Speaker 6:54
Once you got the seed, and you've planted the seed, you'll start to the seed doesn't do anything on its own. And so many people tell me, Oh, no, I had this idea. And then it's in the marketplace, you know, sometime after that, but you've got to start. So it's today to do something, isn't it, you've got to take the seed and plant it. And that start is the next step. And the starting point is where all the risk is where all the danger is, the way you've got to think about how to prove, validate the value in the idea, I know you done some really good work for our members quiz on what you call think the minimum viable product, which which I would reframe as minimum valuable product, because it has to create value, it's not whether the product works is Will people buy it because it solves a problem that they want solving in the world from the startup. The third s is stability. You know, the beginning of any business is always chaos, because you're doing it yourself. And as I said earlier on, you're juggling everything you're wearing all that. So getting stability is stability of cash flow. Now, at this point, we're not talking about the difference between cash flow, as we call it, recurring income cash flow, albeit, wow, if you can start a business with the idea in mind that's already got recurring income and built from day one, what a fabulous business that would be, but most businesses that I see, and business owners I meet, who by the wealth coach book or follow what, what I do specifically, then they're often at a stage of chaos, they haven't quite got that stability. And what they need to do for sure is to get the clarity of the niche they're in the marketing that they're working with, to establish the right flow of leads through to prospects, from prospects through to customers, from customers through to how to retain those customers, to their profit margin. All of the things that I think if we refer back, it's probably an episode. She's really good. From action coach, do you remember that one Chris, way back? Might been Chris Henry. Did that one talked about the five ways? Yeah, yeah. You can focus on to get yourself stable anyway. Then Then, of course, like any business, once you've got it working, you know how it works, you can document all the processes so that you can now begin to see the business as a possibility of working without you doing any of the work. So working without you as a key part of the success of a an ideal business, which is a combination of being outstanding in a niche, creating recurring income in the business being able to work without you there the three
Unknown Speaker 9:48
sweet spots in our business. Once you systemize that whether you document the processes, get somebody to help you. Use VAs use get external help
Unknown Speaker 10:00
Then, of course, you need the team to, to run that. And then you've got yourself a business that can scale. So the, you know, the fifth s is scale. How do you turn that into scale? Now, not everybody wants scale. But you just want that stability in those systems to work so that you can have it managed without you having to scale it. But the idea is, it's possible to scale it. And if you know, you can do it, why wouldn't you? Why wouldn't you licence it to somebody else? Why wouldn't you franchise it for some different somebody else? Why would you not let somebody else, copy it and give you a royalty, you know, so use IP. So the idea of building the seed the starts, the stability, and the systems is to give you something that is capable of being delivered consistently. And then when you can do that, you can sell it, you don't have to sell it. But if you do sell it, you will sell it at a premium, if you've got those three essential ingredients in place. Otherwise, for the most part, business owners don't get a premium. And in fact, the vast majority of business owners and I do a presentation on this, Chris to coaches and those people who serve business owners well, that only 5000 businesses in the UK year,
Unknown Speaker 11:20
sell for life changing money. In other words, you know, a million pounds or more, which might not give you everything in life. But if even if you invested that and got 5%, you get 50 grand a year. So you get 50,000 quid a year from the sale of something that's a reasonable business. And only 5000 businesses a year do that. And as a percentage of the total business population in the UK, which 5 million, do the maths, it's no point one, if not one is no point one. So most business owners actually get caught up in a trap of the busyness and the doing this, and their business isn't sellable. So in the end, and the seven this, which is the unfortunate, so I'm afraid is the business gets scrapped, the business isn't sold, it disappears, and it dies. And this is what happened with my father, which is why I became very passionate about helping business owners. Because I saw the very challenges in the work that consumed business owners. Even if they've had a great idea and they started it, they got stable, they made it work, even if they had recurring income, unless you've got a process to hand it over at some point, then the business unfortunately, can die. And if it dies, the recurring income if there is any is lost, legacy is lost, which is why there are so many businesses now Chris being bought from Baby Boomers, who simply haven't done a good job of putting all the assets in place. And they have to let their business go for pennies in the pound. And, and often for nothing. So hopefully that was a little trot through the seven SS Chris. And while there's always challenges, and I think
Unknown Speaker 13:10
I'm kind of minded to remind our audience of the wise words of the CEO of us will again, go Henry,
Unknown Speaker 13:22
she said the number one skill of a business owner is resilience. And so you have to be resilient to to make sure you know where you are in the stages to push yourself through a plan and not get stuck at the stage you're at. And that's how we want to help. Business owners do that. So they can sell their business or exit their business at a premium. And they get real true value for the blood, the sweat and the years that they put in. And that's why I'm passionate about business owners I am one myself and proud to be working with you Chris and so you're a part business owner with me and wealth builders along with our co director Paul Brooks. And we think about these things all the time. And we need to be resilient because we sometimes get a little bit of punch in the face ourselves as well when we're trying to work out what is it that holds people back from doing the right thing is it is it is it apathy is it arrogance is it was it and constantly trying to find ways to permeate a quarter of an inch between somebody's ears and try and help them to not settle for trading time for money but to do something to create recurring income. So if you're gonna go for a business, please look for a business that's got recurring income and there are so many businesses out there that you could see that help you identify that. But listen, I've been waffling on as I always do for so long. Now Chris, we haven't really got stuck into anything. Well, I've been listening intently and I think one of the things that we know that holds people back is overwhelm and that's the very reason why we we put these podcasts together to try and break things down.
Unknown Speaker 15:00
then make them more easy and these wonderful frameworks that you continue to come up with Kevin. And I'm just going to recap on that. So you have the seven S's there from start to finish of a business. So number one was the seed, which is the idea. Number two, the starting the startup phase, number three is stability. Then number four was Systemising. Number five is scaling. Then we had selling, and unfortunately, in many cases, number seven, the business ends up getting scrapped. Yeah, so seven, that's work, we know you're not aiming for number seven, but you need to avoid seven. But, you know, in as is my want, I tend to create things to reflect the seven pillars and the seven F's of property and the seven B's of SAS. So, you know, if I've snuck one in there, just to make seven, allow me a little degree of latitude, but I am trying to preserve my own IP, because that has some value. So you know, I'll change these things are due over time. But for the context of a good business discussion, or even the framework for a series of business discussions, Chris, I think that'd be decent. A decent framework there. Yeah. And we know, you may be on the move right now driving, running, doing something, and you're thinking, Oh, that's good. I want to remember that. Well, we've put together a checklist for you. So as a freebie for today's episode, and not only will it summarise those seven SS there of a business, but we'll also put together a validation of your new business idea. So a checklist that you can go through if you're at a stage now where you, you think you've got a good idea, but you're just not quite sure how to get to that minimum valuable product that Kevin talks about there. So head to wealth builders.co.uk, forward slash validate your business idea. And you can download that checklist. And Kevin, let's look at some of those early steps. So particularly seed and start up because we can't go through all of them in detail today, but I'm sure we can revisit in future episodes. And in particular, you mentioned wealth dynamics. So we've talked about wealth dynamics, since the start of this podcast, we've been going since 2019. And for anyone that's not aware of wealth dynamics, and it's an online assessment was put together by Roger Hamilton, we use it within our wealth builders membership. So our members get a copy of that. And it's available to purchase, we've got that on on the wealth builders website, as well. But essentially, to summarise, there are four main frequencies which we kind of fit in. And we all have a combination of all four, but you've got your creators at the top, that Dynamo energy. So that's typically where we think about starting new things, that creative energy. But the key with wealth dynamics is that not everybody is naturally a creative person. So therefore, you could add value by actually looking at something and saying, Well, there's an existing idea, but perhaps I could almost take it apart and put it back together again, better. So you're someone who's very focused on the detail, perhaps the process the systems, so the value comes in actually your own, you know, ability to look at something differently. And equally, it could be your ability to actually bring the right people together. So there could be a really good business idea already running, but perhaps it doesn't have the right team or the right skill sets. And that's your value that you can bring to that. So so it doesn't always have to be about thinking about a new idea, does it? That's a really good point. And you're quite right. And I think we still also mentioned that, not necessarily what dynamics but but in many respects that, you know, she had the idea was she co founded the idea. But her per skill was the detail, but not necessarily the people. And so you she surrounded herself and got the right, people in the team. Now, that's, that's fine. At the beginning, you know, when you're bootstrapping your business, you're not always in the right place to choose the right team often, you know, it's somebody close to you with somebody in your family or somebody you know, because you don't have time to do this, but definitely do wealth dynamics. I mean, we use wealth dynamics. In our businesses, we recruit people.
Unknown Speaker 18:59
And while it's not a recipe for 100% success, it pretty much helps you identify where does somebody fit into the business. So if we wanted someone to manage the the side of the business, Chris, that's a was the membership area, where they were constantly having dialogue, and feedback and, and helping members. You wouldn't want someone who's an introvert, you wouldn't want someone who you know, who's not willing to pay attention to detail or isn't full of people energy loving, and getting energy from being connected to people. So doing your wealth dynamic is a real good tool, not just to assess who you are and where your best value can come, but also who you're working with, and who's your spouse, who's your partner, who's your business partner, and sometimes that can be a shocker. When you discover actually you don't want to be the same you know, two creators working together, you know, which is you know, more my energy is more on the creation side, isn't it Chris and yours is more on they're getting things
Unknown Speaker 20:00
onside. And if we didn't have that, you just have two creators constantly battling for, oh, I've got an idea. Oh, got another one. And then things wouldn't get done. And we see that. And while it's, while it's a joke, in reality, it does happen. And we see people changing their mind very quickly, and not able to get to stability, and certainly never Systemising anything. Because rather than systemize something, they get bored with it and want to change it, and create a whole new business around it. So So you have to know who you are in order to know how you are best place to either be in a business, as an employee or as a team member, or to create one or be part of one that you own yourself. Yeah, it's a fascinating area and encourage anybody to go find their wealth dynamic and look out what it is. Well, how about we added 25% discount coupon on the checklist? So for anyone who wants to download the checklist for today's episode, they can also take wealth dynamics.
Unknown Speaker 21:02
Let's do that. If that gives value to people and helps them discover who they are? Why the heck not? Yeah. Okay. So I will add that on to today's checklist as well. And one other area, Kevin, I did a workshop for our members this week, it was all around joint ventures, which is one of the other asset classes, but joint ventures and business go hand in hand, don't they? And, and it'd be good to get your opinion, because I'm of the view that if you're starting out a new business, it's a good idea to find someone to work with. I'm a fan of that I think you share, you know, so many skill sets, you share some of the risk as well, you can share, you know, various different resources. And people have different views, you know, you obviously sharing profit as well, if you go into partnership with someone, but what are your thoughts?
Unknown Speaker 21:47
It's an interesting one, Chris, and I can see why some people would, would be sitting on the horns of a dilemma there. On the one hand, the creators often demand control. I know for the longest time, in business, I've always been the controller of the business and owning all the shares, for example. And if you can get a team around you, where the work that you need to get done, is relatively easy to do. So you can manage that. That's perfectly fine.
Unknown Speaker 22:20
But I agree with you that certainly we couldn't have done wealth builders with without that couldn't have done without the collaboration of you and Paul, and others in the team. And I value that and actually enjoy that. And I'm not concerned about partying with some of the cake, I think the cake is going to be much bigger, and it's much more enjoyable, and fun to do. Because business can be isolating in some respects, we often see business owners who
Unknown Speaker 22:54
are making all the decisions, you know, they're making the hiring, the firing, the the finance decisions, the sales decisions, the marketing decisions, all the decisions they've got, and therefore they're in that rarefied air of not really being able to have an honest, equal to equal conversation. And I think that's where either you find that externally, through coaching or mentoring or some form of body of guidance, you know, we'll often do that within wealth builders, encourage people to buddy up so that they're not in business together necessarily, although that can happen, it can lead to that, but just for accountability, and there are many groups where business owners can talk at a level that they don't want to share their thoughts necessarily with their team, they want to share thoughts with people who are having the same problems as them. So yeah, it's an it's an interesting one. I don't know, I don't think there's a formula that says you should or shouldn't do it with others. I think it's probably for each individual to decide that in the same way as they'll decide which assets they want to go for. And how they want to do that is fundamentally different. The only thing I would say is I have made mistakes.
Unknown Speaker 24:09
When I've been involved other people, as CO directors, and didn't actually document the expectations well enough. So when you're going into business with people, it's tempting, as you say earlier on there to share the risk share the cost, but if you don't have a very clearly delineate delineation of who's doing what what's their expectation, what's what's their perfect flow, so that everybody in the business is doing what's right for them and what's right for the business. It can be difficult, and I've made mistakes there and, and it was poor documentation. And that's really because I didn't have the tempo energy to do that. I trust it. And I'd say that's a danger. Just in the middle of should you do it on your own to do with someone else? Well, if you're going to do it with somebody else, whether it's
Unknown Speaker 25:00
joint venture or whether it's a co director, good documentation, mapping out expectations would be an important part of that, I think.
Unknown Speaker 25:08
And all these points are in the checklist that you can download just head to wealth builders.co.uk, forward slash a validate your business idea. And one other just before we wrap things up, potentially Kevin, is time. Because if you haven't got time, then you probably shouldn't be thinking about starting a business. And we know that time is one of the biggest challenges when it comes to wealth building overall.
Unknown Speaker 25:32
Well, absolutely true. I mean, we could do a whole episode just on on time, I think,
Unknown Speaker 25:39
part of the curious dilemma, or the paradox, actually, that happens, in many cases with business. And again, I can see it from experience, not just with my own father, but sometimes not falling into the trap myself. And we had conversation, you, me and Paul, just recently, and kind of re emphasise to each other the importance of family time. Because all too often, when you're doing everything, you can create so much pressure,
Unknown Speaker 26:09
on your time that the business needs you to make a decision or the business needs you to do something, that you're time for other things in your life, whether it's your health, your relationships, your family, your finances, they can suffer. And we see that with business owners all the time, where they don't do their wills, they don't do their powers of attorney, they don't. They actually spend all the time making money, and then they bank the money in a business bank account. And they don't shop around to get any interest on that. Or they pay so much corporation tax when they could claim that corporation tax back and still have access to it. So because they're so busy, they don't find the time to evaluate. And sometimes this is the big danger.
Unknown Speaker 26:54
Certainly Chris is one of the things I look for, in talking to a business has it's how open are they? How open minded are they to seeing other people helping, because that's, that's critical, because that, in my experience, the two things that kill business owners ability to build wealth independently of their business, which I think is important to build a business. But the purpose of business to give you more life, is not to suck the very life out of you. And the way it gives you more life is you build wealth as you go. So in the same way as employees naturally do they save money in a pension, for example, I'm not advocating pensions as the only solution. But if you can take money from a business once you've got that stability, and then you can claim corporation tax back and invest that money and build a future pot, then you're creating two businesses, one, the business of your wealth and the business of your business. If your business can do both, you get a recurring income business that you can sell or keep and pay you a constant recurring income. That's the best of both worlds. Most business owners don't do that. They ended up really working really hard, harder in many respects in a business than they did in a job because they had a structure before now they're creating the structure. But they've got a job nonetheless. And unfortunately, they very quickly can get defensive about that. And it's one of the big A's as to as I try and avoid Chris in my life when I meet people because I've liked to spend time with open minded people is arrogance and apathy. People are arrogant, they think they know everything. They are know all about that. Okay, but what have you done? Yeah, I know all about that. Okay, but what have you actually done? Your knowledge doesn't mean anything knowledge is freely available, is the action around the knowledge that's critical. So, you know, sorry to beat my chest about that one. But I don't like arrogance, in any way, shape, or form. And I recognise it because I think I was arrogant at the beginning of my business journey and refuse to help didn't willingly ask for it. And I only soft and over time, having made mistakes and realised actually is actually more enjoyable. And it's the result that can not that you have to do it on your own and, you know, be Superman and where, where you invest outside your pants, you know, that's not the key measure of successful business is how important do you look, it's how successful is your business? And how balanced Are you in your life. So I think it's really important. And apathy is the killer because they say they're going to do something they don't get around to it. And the to do list never gets to done. And it keeps going round and round and round and round and they never do it. And once we see that we stopped and we were we're not going to pester them. They're never going to get out of that loop. So we leave them to their own devices which invariably means their business will not get to the the soundstage, the premium value of a business and why put yourself through all that extra stress and energy and time and money and risk. If you're not going to get a premium
Unknown Speaker 30:00
word for it. Most business owners sadly do not. And I feel that very passionate Chris and I want to serve business owners as well. So we're looking for, as always open minded, non arrogant, non apathetic. People who recognise, yeah, I'm falling into a trap here. Help me guys, because that helpers going to save themselves, save their family and hopefully save their business from a fate worse than scrapping. Yeah, if you fit that profile, come and join us.
Unknown Speaker 30:31
Know, we love to work with business owners, and we love helping people who've got great ideas as well. And I know we've had many successes over the years of people who, you know, at that very stage of, you know, what do you think and now we see them with communities of 1000s of members and running very successful businesses and enjoying, you know, good income from their business, which you say is, of course, one of the key things. So, just recapping on those three main points we covered at the beginning, Kevin, that, you know, number one really got to look at a niche market. Number two, focus on the recurring income in the business. And number three, think about how that business could work without you. And that's either going to be through teams, or it's going to be through systemization. So you know, if you focus on those three core things that will stand you in good stead, but we've really just kind of scraped the surface today, Kevin, looking at some of the initial concepts and ideas. So I think we've definitely got room to revisit those other SS on some future episodes. When you're talking about things that often get overlooked. Where's the review this week? Oh, my Goodness me. Yes. Thank you for the reminder. Yes, we've had more reviews coming in, as we always do. So yeah, heading over to Trustpilot. And if you ever want to pop over and search the wealth builders profile on Trustpilot, please go ahead and see what some of our members and clients are saying about us. And And this week, Terry has left a lovely review, saying wealth builders has been extremely educational and supportive to me and my family in many financial aspects. But in particular, during my transition to a SAS pension. Gary Whelan has been a fantastic coach to me with well informed step by step guidance and always able to answer questions and provide insights that I simply would not have been aware existed or considered myself. Thank you, wealth builders, and particularly Gary, and I look forward to continuing working with you. All right. Well, another Whelan getting a getting a commendation, so good for Gary, who's my younger brother. And we love having Gary around in the business as a former IFA, and a SAS expert. So he's often at the front edge, who actually we sound very, like if you were to ever listen to Gary, we, we don't look alike at all. But we definitely sound like he's, you know, very, very different to me in so many different ways, but, but a pleasure to have him in the team. And we love working with him. So well, hopefully, we pass that message on to Gary, and hopefully, you know, many of you will get to speak to him. Because that transition to SAS is really, I think there's a good point in there. Chris, not just about what Gary's good work is done, showing things that he wouldn't have seen for himself, Terry, but I think that's the beauty of having a coach as well. And certainly, when it comes to wealth is people like us see things all we do, right? Well, we look, all we do is look for wealth, ideas and opportunities. So we see things other people don't see. And my role in the company is the visionary. And the definition of a visionary is someone who sees what other people don't. So I see things and I create things, and I curate things in a way that is only to help people achieve their wealth faster, safer and more enjoyably than if they did it on their own. So I'll stick to my principles. And I'll keep doing that will hopefully, you know, recruit more people using wealth dynamics, help our business and businesses grow, and hope you've had the seed planted today. In a way you can either start a business or put a framework around your own business to make make it more successful in the future. That way you can create wealth from it. Or you can get a flow of cash to your life that you build wealth from it either way, is fine. Yeah, absolutely. And just a final reminder, if you want to download the 15 step checklist to help you validate your new business idea head to wealth builders.co.uk forward slash validate your business idea. And Kevin, we will be back Same time, same place next week. Yes, indeed. And until then, my friend See ya