GA 134 | How to Apply Lean to Finance with Tiago Salgado
26 Nov 2025 · 41 min
Tiago Salgado, a finance professional from Portugal, learned Lean through podcasts and applied it to his work by focusing on customer value, process visibility, and cash flow. He contrasts traditional finance with Lean approaches: talking to frontline people instead of staying in spreadsheets, reducing work-in-process, and respecting the whole person.
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You're listening to episode 134 with Thiago Salgado. Welcome to the Gemba Academy podcast, the show that's focused on helping individuals and companies achieve breakthrough results using the same continuous improvement principles leveraged by companies such as Toyota Del Monte and the U.S. department of Defense. And now, here's your host, Ron Pereira. Hey there. This is Ron Pereira with Gemba Academy and I'd like to welcome you to another edition of the Gemba Academy podcast. As always, thank you so much for taking time out of your day in your week to listen to the show and for watching our Lean and Six Sigma training videos over at Gembacademy.com we definitely appreciate each and every one of you. Now today, I'm excited to welcome Tiago Salgado to the show. Now, I met Thiago virtually over email. He actually, well, actually over LinkedIn. He sent a comment to me, oh a few weeks ago, basically letting me know, thanking me for the podcast, saying that he's listened to every single episode that we've ever produced and it kind of blew me away. Now perhaps there's other people who have listened to every single episode, but that really touched me and I was really impressed and thankful for him to do that. And so I asked him if he wanted to come onto the show and kind of share his journey and he was hesitant and didn't want to, Wasn't sure if he had, you know, value to add and so forth. He was super humble about it, but kind of twisted his arm and convinced him to come on. And I'm really glad I did because he, he was really, really fun to talk to. Now Thiago has a finance background, so we did spend a bit of time talking about kind of the finance world and how, you know, his, his, his, his, his belief on the importance of Lean to finance and then also finance to Lean. And so we had a really nice chat about that and then we also kind of just got onto his personal journey. He's, he's, he's kind of a self taught man as it relates to Lean and so he shared, you know, his story there and, and, and perhaps it'll be encouraging to other folks who are, who are also learning and perhaps don't have access to, you know, an external consultant or something like that. So really enjoyed the conversation with Tiago and I think you will too. Show notes for this episode can be found over@gembapodcast.com just look for episode 134134 again gembapodcast.com, look for episode 134. Okay, enough from me. Let's get to the show. All right, Tiago, thanks for coming onto the show. Where are you calling in from?
Hi, Ron. Thanks for having me. It's really a pleasure to be talking to you. I'm calling from Portugal.
All right. Portugal. So we met, I guess, over LinkedIn and email, and you sent a really nice comment about listening to the show. You want to share that with the listeners?
I guess you think I should?
Yeah, I think you should.
Sure, sure. So the thing is, that's why I first contacted you. For me, it was really important. My journey depended upon things that I could find online about Lean and obviously, books. This one day, I stumbled upon the Gamba Academy Lean podcast, and I started listening to it. And over the course of six months, I listened to every single episode that you guys did for what? I know, probably three years or so.
Yeah. Wow. Every episode. That's amazing.
Every single episode. Yeah. Because, you know, there's so many people with great background and more experienced practitioners, less experienced practitioners like myself, and we just have so much learning from other people's experience, mostly, as is in my case, when I, you know, Lean came to me without me applying Lean in my work at first, you know, so I didn't have many references. And it's great to learn from other people.
Well, I know this isn't really a fair question, but can you think of any episode that you really, really enjoyed?
It's not fair. I don't know. There's so many I loved, you know, when you interviewed Philippe Marc here from Portugal.
Yes.
You know, he's almost my neighbor. Not quite neighbor, but we live just probably half an hour away from each other, and I've met him since. When you talk to Paul Akers. You know, I really liked one of the more recent episodes with. I'm not recalling the name. It's Don, I believe. Don Dalton. Sorry?
Dalton.
He's the guy from the puzzles company.
Oh, yeah, yeah, yeah, yeah, yeah, yeah. Don Scott.
Don Scott. Yeah, that's it. I really loved your episode with Don Scott. I really loved his thinking. I think his mind is in the right place.
Yeah, no, yeah. There's so many great episodes. Gosh. This is 134 that we're on right now, and we've gone every week. We haven't missed a week, so it's pretty incredible.
It's crazy.
Yeah. That many thanks to Greg here, our editor. He's behind the scenes. No one ever sees him, but he pulls these things together. We Always try to overproduce and stay a few weeks ahead, but it's not always the case. Sometimes we're going, you know, week to week, but we don't miss. So we.
I believe that.
Yeah. So, anyhow, thank you for reaching out and for. For all of your kind words and for listening.
Thank you for all the knowledge you guys shared. It's really important for the Lean community, I would say.
Thank you. All right, well, Thiago, let's go ahead and just kind of start and you know how the show goes. I don't need to tell you, but just maybe tell us a little bit about your background and how you first came to learn about continuous improvement.
Sure, Ron. You know, my background actually is in finance. I have experienced for over 10 years as a management consultant, mostly devoted to finance and strategy, things like mergers and acquisitions, financial management, restructurings, performance management, and so on. Also for a few years now, I've also been a lecturer of management and finance to mechanical engineers. So I'm also trying to teach finance to engineers here at the University of Porto, although that's actually just a small share of my time. Okay, okay, Lyn, throughout my journey here and there, sometimes you stumble upon something that's related to Lean. I have heard or read some things about just in time, about 5s about lean. And I had this notion that it had something to do with efficiency, but pretty much just that. A few years ago I moved into a new company and there I found a colleague who had actually some experience, some background in Lean, and we started talking and that's how I was first really introduced to Lean, through this colleague and I was introduced to Lean. I believe, as most people are like, Lean is this method, this set of tools to remove waste. It was also clear from the start that you achieve this also by leveraging people's skills and trying to simplify the processes. And I was able to see a few examples of real life applications of Lean tools. And as a guy from finance, it really struck me. I thought, okay, I think this is important also for someone in the finance department, for a cfo. And that's where really I started learning a bit more about Lean and exposing myself to Lean. And that's where I moved from.
Yeah, yeah, awesome. I want to definitely get into your finance background and explore that here a little bit in the show. But as you know, Thiago, we like to kind of, towards the beginning of our episodes, have everyone share a quote or two that possibly inspires him. So do you have one?
I do, Ron. I have A ton of them, but I'll stick to one. This is something that, for me, is really important. And every day, I think this is more and more related to Lean. This is a quote from a French writer, Antoine de Saint Xuperrier. He was the guy who wrote the Little Prince, if anyone knows it. And this is what he said. Perfection is achieved not when there is nothing more to add, but when there is nothing left to take away.
Oh, I like that. Say it one more time.
Oh, sure. Perfection is achieved. You know, perfection. You know that Lean thing about seeking perfection? But perfection is achieved not when there is nothing more to add, but when there is nothing left to take away.
It's almost like a very minimalist kind of mindset and simplicity.
Absolutely.
Yeah.
Yeah. I think this ties in a lot with our tendency to solve problems by adding. You know, we have a problem, you just add something on top of it. And I have to say it. You know this. I think this happens particularly in finance. We have to deal with things like risk and control, and that's what usually comes to mind. If something happened, something went wrong, then we should probably just create a new rule, a new control, and just keep building and building. And this leads to a lot of complexity and bureaucracy in our organizations. And I think we should really try to go a different path, try to improve things by making them simple. This is not easy, of course, but one thing that I learned from Lyn is that usually when we're having something else, we're not really fixing the root cause, solving the root cause, the problem. We're mostly just fixing a symptom. So for me, this quote is really tied into leaning to continuous improvement. That idea of seeking perfection by making things simple.
Yes. I love it. All right, well, let's jump into your finance journey. So I assume when you were originally trained and educated in finance, it was more in a, let's say, traditional cost accounting methodology. Is that fair to say?
Yes, absolutely. Although accounting is obviously an important part of finance, since we're dealing with financial information, financial statements and reporting, internal and external reporting. But I would say that finance is also a lot of things that's not exactly related to accounting. Things like cash flow management or budgeting, capital budgeting, deciding or helping decide if we should invest in something, in a new equipment, if we should buy a new factory, all those types of decisions, and who should make which decisions, who is allowed to make some decisions, who is allowed to buy something to hire more people. A lot of it. A lot of those decisions. They also somehow depend on finance. And on the processes, on the systems that finance and the whole organization has created.
Got it. Okay, so let's just talk a little bit about your understanding and perhaps use of what we would call lean Finance.
Okay. Okay. I'll try to keep it as simple as possible. When I think about lean Finance and when I started this journey, my thought was, okay, this is lean applied to finance. So let's think of finance as you would think of a business, of any other business. We have our customers, we have our processes. The problem is usually it's not very clear for the finance team and for the whole organization to understand, to see who our customers are, and our processes are not visible. So that's the first difficulty. So what I try to do is to take a step back and try to understand. Okay, so what is this finance function? You know, why do we need it? Who do we work for? Who depends on our work? What value are we creating for the company when speaking about our internal customers, or for banks, tax authorities, and so on? When you're talking about our external customers, what problems are we trying to help them solve? And from then on, we try to just bring some clarity and visibility into the processes. And our job as lean practitioners in finance department is the same as anyone else to understand how we can make that value just flow to our customers. I know this is not very concrete because it always. It always depends on each organization, but that's how I see lean in finance.
Let me change the question up a little bit. So maybe I'll ask it in two ways. Tell me, in your opinion, what's the importance of lean to Finance? And then perhaps we'll flip it around. The importance of finance to lean.
Oh, absolutely. Okay, so the importance of lean to finance. One thing that has to concern the finance team, the cfo, is value creation. Actually, this is the main purpose of finance.
In other words, for finance to create value. Is that what you're saying?
For finance to create value? For finance to help the company create value?
Yes.
Okay, so when we see. When I first saw this methodology that is focused on customer value, this is something that will help our business. When we're talking about removing waste, reducing costs, improving processes, this is something that will reduce our cost and help our profitability. This is what we as people working in finance really need to be looking for. So I think this really ties in a lot with finance, and it's what really made me want to know more about Lean and applying to finance. When you're talking about improving flow, one of the things that's really key to finance is something that you probably heard of, which is cash flow. When improving flow, you're actually improving cash flow. So when you eliminate inventory, you're freeing up cash. That's something that's really important for finance.
No, I love that. And I especially always like to have people imagine you're running your own business out of your garage. Right. And you have all these so called assets, maybe some products sitting in your garage, which is great. I guess on the books it looks like assets. You have all this money. Problem is your kids are getting hungry. Right. And they need to buy some food. Food, you know, so we need to move this inventory. Right. And we need to have continuous flow of income. Right. So that's a beautiful way of thinking about it. Flow, Cash flow.
Yeah. It has to be the focus. You know, when we improve flow, you know, if it takes us three months from the moment that when we buy raw material to the moment when we ship the, the product to our customers, there's a lot of money that we must have stuck there in the production process. This is money or capital that the CFO will have to find and to keep. And that's a source of stress for the cfo. So if we can reduce this, it also will make the work for the CFO a lot easier.
Yes. No, that's beautiful. I love that. What's inspiring is that you're obviously coming from a financial perspective and I don't want to over stereotype this, but there are situations where sometimes the operations people maybe want to improve flow and so forth, but then they may get some pushback and say, hey, hey, hey, what's going on? Where's all the inventory? We're looking for this balance sheet and whatnot. And oh boy, it can get tricky.
You know, Ron, I think this is what I'm going to say. I think this is true for everyone. Sometimes it's really hard for us to really have a clear notion of what our purpose is. And I think this happens a lot in finance. I would say that finance is probably the most siloed department within a company. There are historical reasons for that, but that's what in most cases is really stopping finance, impeding finance from really helping their customers like they could to just help them do a better job.
Yeah, beautiful. All right, so kind of just a general. What are some of the. Maybe talk about some success stories or some takeaways. Give us examples of how you've applied lean to your work, to your business, to your companies and made some changes.
Okay, okay. You know, in My work, of course, I really try to. I think that from the moment that you go on this journey, it's very difficult for you to not apply lean to everything in your life. So for instance, talking about my work processes, that's a lot of small things that I've been doing like 5s ing and whatnot. That really slowly. I feel it really has a strong impact in my work. But I would say that Lyn has also transformed the way I work as a consultant. I would be the guy who just, I would say as the stereotype finance consultant who would go to your company and ask you for all the numbers, the books, the financial statements and will be just crunching data and trying to make sense of it and to find out new things that weren't apparent to everyone and find ways for the company to improve, of course, but really focused on the financials, on the numbers. And Lynne has also changed my approach to working. And right now I'm a finance consultant who spends most of his time just sitting and talking to people, talking to the CEO, of course, talking to the cfo, but also talking to everyone, every department, the people from every department within the company, people from sales, from line workers, managers and whatnot. I've come to understand that it's, you know, really important. There's a lot of information that you won't find in the, in the, in the financials.
Yeah, yeah, Very good. So the last question for this section, Tiago, is I'm curious, you know, you've kind of, I guess maybe a little self taught on your lean journey. So like, how's that gone? You know, I know there's a lot of people listening right now who don't have access to, you know, big consultants coming in or whatever it might be, and they need to go it alone a little bit. You know, that sounds like that's been your journey. How has it gone and what advice do you have for other folks?
Okay. Okay. You know, Ron, I have to be honest with you. There are tough days. You know those days when you hit a wall and you're trying to make sense of things and it's hard. And I would think it would be great to have someone by my side with more experience in terms of lean thinking that could maybe help me make sense of things and help me understand if I'm really thinking straight and if I'm thinking lean. But the truth is, well, I don't. And I would say most people don't. I'm sure there are lots of people out there just like me who are Interested in lean, who like lean, who think this. This makes sense and don't have someone with them sharing their knowledge. But nowadays there's just so much knowledge out there. Guys like yourself and Mark Raybon and Paul Akers, Karen Martin, Bob Roush, for instance, people, just lean practitioners with experience who really want to share the knowledge, share their experience. I think this is something that's really particular to the lean community. This need to just spread the word to put that knowledge out there. So if you're a lean practitioner, just search online, just buy some books. And one thing that I've also learned, just reach out to people, email people, contact them on LinkedIn. Sometimes people may not really be able to help you. A few times, people will want to exchange a few ideas with you. It has happened to me, and it's also been really, really helpful.
Yeah, but just be careful on who you access in LinkedIn, because they may just say, hey, come onto a podcast.
Yeah, you wouldn't want that.
By the way, anybody listening to this? Some of my favorite podcasts, I want to say my favorite, but some of my favorite podcasts are just with people who are doing lean in the real world. Right. And yeah, sure, we have a lot of the experts on authors and so forth, and they're awesome, and they all bring tremendous value, but there's also tremendous value in just hearing folks who are in the trenches and trying to figure this stuff out. So hopefully everybody that's listening to this, go ahead and ping me on LinkedIn and we'll get you on the show. And I truly mean that. So, yeah, very good. All right, Tiago. Well, I'm really inspired by your journey, and I look forward to stay in touch with you and seeing how things go with you down the road. But let's go ahead now and transition into the reflection section. And you already know the questions probably better than I do. So, you know, this first one is about respect for people. So I'm curious, what does it mean to you? Respect for people?
This is probably the hardest question in your episodes. Well, you know, Ron, I think I've lived most of my working life with this strange sensation. You know, I truly believe that we can all somehow be happy in our work life, in the work that we do. And I believe that because I was able to, fortunately. On the other hand, every day you see people who really aren't happy in work and just waiting to go home and waiting for Thursday to come. I think there's a lot that it takes to. For people to be happy in their work. And I think that's also something that we must care about and it has to be important for us. And how can we do that? There's a lot of things that we usually talk about when we talk about respect for people, like giving purpose and challenging people, developing people, helping people learn and do new things and transcend and whatnot. I think, yeah, that's really, really important. You really need that. I've had it. And it's really, really important. On the other hand, I think that it's really, really easy for us to just lose sight of the basics. Let me give you one or two examples. I'm sure, you know, people who just everyday work 12 to 15 hours a day, they come home and they don't see their kids. People who are just so stressed that one day they have a mental breakdown, they have a stroke. A friend of mine had a stroke in his early 30s. Man, this is just crazy. Or people coming to you and saying, you know, Ron, actually I don't remember when was the last time I saw my kids awake. So, you know, yes, we must challenge people. But if you're challenging them and they can't have a personal life, if you're challenging them and they just can't keep their health if they can't have a good night of sleep, you're really not respecting them. So I would say that, in short, respect for people, it really is about caring for the whole person. Not just the pair of hands, but also not just the brain, not just the working person. You really need to care for the whole person.
Yeah, the humanity, Right. The humanness of people.
Yeah, the humanity that we have in each person. Respect the whole person.
Yes. Beautiful. What's the best advice you've ever received?
Oh, you know, this one. This takes me to my economics classes when I was studying at the university and I had this teacher who once said thing that really stayed with me ever since, I would say probably more than anything else, that he taught me about economics. And what he said was, you know, guys, sometimes we need to question the obvious. Probably a strange phrase, and it's true that a lot of things are obvious for a good reason, because they are exactly like that. But sometimes I think we should actually challenge what seems obvious. It's quite obvious, and it's been for ages, that bonuses will get your employees focused and it will improve their performance. I think this is quite obvious for everyone. But the truth is it turns out it's not exactly like that. It will get you focused, but bonuses will get you focused probably on the wrong Things. Just the other day there was this, let's call it incident with Wells Fargo. When you're asking your employees to create more and more, to create more credit cards accounts, and so you end up with fake credit card account, there's just no point in that. You want your employees focus, right? Yes, you do, but you want them focused on improving the process, not on some arbitrary metrics.
Well, this ties back to your respect for people answer in that when we incentivize our employees with these extrinsic motivators, such as bonuses and money and so forth, it can create the bad behavior versus intrinsic motivation. Right. Autonomy, mastery, purpose, helping the person truly enjoy what they're doing. And I think that's exactly what you're saying here.
Absolutely. Absolutely.
Yeah. Hey, so do you have a personal productivity habit that others might benefit from?
You know what really works for me? Stress. Oh, yeah. I wouldn't recommend this. Yeah, yeah. You know, when I'm stressed, when there's a lot going on and I have to meet deadlines, you know, I work three times harder. But this is not quite healthy. So I would say. So I would say overall, just what has been working for me. And it came from Lynn, really. Just killing tasks, just getting work done, reducing my work in process. And it's very easy in my line of work to just get lost. You're doing one thing. You receive a phone call from a customer who wants something, a client wants something, and then a colleague needs your help on something, something else, and at the end of the day, you've achieved nothing. So this is something that I'm trying to work on. Just reduce the number of things that I'm doing, and I have to kill tasks to finish things, and then I can accept new tasks.
It's funny that you mention about the stress and deadlines and so forth, and it's almost like when you're going on a vacation that week, you're the most productive you've ever been, Right? I wonder. And I'm sure there's some deep, deep psychology to this, but, you know, I experienced the same thing this week. Next. You know, we're recording this here October 20th. The next week is our. The big AME conference here in Dallas. And we'll be going on by the time this episode airs. But, you know, we're. We're basically out of the office all next week, right at the show, and we've got a course launching and so in November, and so we're finishing it up. And so it's like this week we're just like, bam, bam, bam, bam. And I'm thinking, why is it now all of a sudden we're finally getting everything done? And, you know, looking at myself even, you know, and it's just funny how that, how that, how that works.
And you still managed to find the time to talk to me.
Yeah, of course, you know. Of course. Yeah. We got another podcast I'm recording right after this one, so we just.
Oh, really?
Yeah, yeah, yeah. We just. We're constantly on the go here. Good stuff. All right. Hey, so over this last year or so, as you've been learning and practicing lean, has there been anything that surprised you?
Yeah, a couple of things I would say. The most important thing I said is earlier, a lot of the way I do my work, even as a finance consultant now, is just talking to people, to really people from all over the company. And what became just incredibly clear is just how much people really need to talk. I'm not saying how much people like to talk, how much people have inside of them they just really need to get out of their chest. We're talking about people who have been working in the same company, in some cases for decades. They have been through ups and downs, good and bad times, and they have those issues, those problems that are never really solved, and there's so much inside of them that they just need to just put out there. And it really struck me, and at the same time, Ron, it's really amazing, but it's incredible when you're sitting and talking to people, just how much information is hidden within people's mind, how much really valuable information in terms for the company, for the business, how much people really know about their work and what could be improved. And most times they just don't have the means to do it.
Yeah, yeah. No. There's a lot of hidden value in people's brains that unfortunately a lot of unlean thinking companies don't ever tap into. Right. And it's a real shame.
Absolutely.
Yeah.
I trust that, you know, time will inevitably take all organizations in that direction and everyone will, you know, see this. But yeah, right now there's really a lot to do.
Yeah, yeah. Good. So change the questions up a little bit here. Let's say that you're going through your work, your week, and things just aren't going well and you need to recharge and refocus. Do you have kind of a ritual or routine that you follow to make that happen?
Well, what usually works for me is to take a step back from whatever I'm doing. I have A problem at hand, something I can't really work out. Just take a step back, go and talk to someone. Sometimes I may be discussing that problem with someone else. Sometimes I'm just talking about something else and just gain some distance from what I'm doing. When things really go just over the top, then there's just one thing to do, which is just get home and pick up my guitar and just get into the zone and just be playing guitar like I'm alone in the world for a couple of hours and it really, really helps. I think it turns my brain to mush or whatever. And at the end of it, when I come out on the other end, I'm a new person.
So you're like a classical guitar player or a Metallica? Which one?
Not quite Metallica. I've talked to Philippe a lot.
Yeah, I was gonna say you and Philippe could get together and, you know.
Yeah, yeah. But you know, I'm, you know, I have a classical guitar, I have an electric guitar. Yeah, I have, you know, I love music and it doesn't really make a difference for me if it's classical or metal. You know, just what I really find is just practicing those creative activities. It's really important to just take your mind off the day to day problems.
Yeah. Philippe, we need to get Thiago on Seek and Destroy. That's his next Metallica song. You need to learn.
Okay, I look that up.
Okay. All right. Seek and destroy. Waste. You know, that's what we're trying to do here.
It's lean.
It's lean, right? You're learning about lean. All right, last question. I know you're on the journey and you're constantly learning, and that's awesome. So is there a particular skill or knowledge area that you really want to kind of focus in here, say in the next few months?
Yeah. Well, actually, what I struggle the most is with this notion that we don't know what we don't know, meaning there's so much out there that we're just not even aware that it exists. And that's what I struggle with. That fear that probably something that's really important for me, and I don't even know that I have to look that thing up about the things that I do know. My main concern still is understanding value. Value creation. What is value for the customer? How can we really understand and help people understand value, how they are creating value. And also, of course, flow. How can we really make everything flow?
Well, when you figure out how to make everything flow, let me know.
Okay. Okay.
We'll do another podcast. Okay, very good. All right, well, listen, I really enjoyed talking with you. I'm so glad that you reached out to me on LinkedIn. And I don't know if I'm ever in Portugal. I'll look you and Filipe out and we'll go hang out and. Yeah, and like, if you ever get into the States and in DFW area, please, please let me know.
You've never been to Portugal, right?
You know, I haven't. I have not been, but I would love to go. Love to go.
There's just so, so, so much amazing food and wines.
Yes, yes, yes. And Ronaldo, right? You know, I mean, he's usually in.
Spain, but No, yeah, he's. He was born here.
Yeah. All right, so how can people connect with you, Tiago?
So, you know, I'm on LinkedIn. You can search me on LinkedIn. If you search Tiago Salgado or Tiago Salgado, Lin, I'm sure you will. You'll find me. I'm also on Quora, you know, just trying to. Just also try to share something that. Some knowledge that I. I may have acquired. And so, you know, or even through email, you can always send me an email to tmsalgadomail.com TM like Tom Mary. Yeah, yeah, exactly.
And Salgado is S A L G A D O. Yeah, perfect.
Thank you, Ron. Yeah, that's right. You know, I'm always open to talking to people. I love talking. I love just putting my ideas to the test and learning from other people. So if anyone is listening, is thinking about reaching out, please do. I would love to.
Now, did you meet Philippe as a result of hearing him on the podcast or did you know him before?
Actually, I already knew of Filip. I hadn't met him because I saw him in one polycar's video, and then I started following his YouTube channel. And you know, the work that those guys are doing there at Tor is really amazing. And when I went to talk to him, I hadn't. I think I hadn't yet listened to that episode.
Oh, okay. Good, good, good. All right. Well, yeah, he was. He was great. Ilsi.
We'll.
We'll link to it in the show notes. That episode. I can't remember which number it was, but yeah, so the show notes for this episode everyone can go to is just GembaPodcast.com and look for episode 134134. And then we'll link to everything, including all of your social media stuff.
Okay, thanks very good.
All right, well, thanks again. Tiago was great. Thanks for being flexible. I know we had to change the time a little bit, so I really appreciate that. And hey, you keep on the journey and hopefully we can connect face to face one day.
Sure, sure. That would be great.
All right, you take care.
Thanks, Ron. You too.
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