Setting Financial Goals for Success 📈

All right. Hello everyone. It's Bill here again. Let's get ready. We're going to walk through setting a financial goal. So, we just got through setting the qualitative goal. And as I said in that one, these are really linked together. Your team's got to be ready. They got to know what you want to do and how to win the way that's appropriate for your culture. Now, you got to pick the goal, right? So, I like to think of it as from day one. So, you just got the CEO job. You're coming in. The first thing you're going to want to do when you get ready for this is grab your CFO if you have one, or your bookkeeper, whatever it is, and sit down and go, what's possible, right? Where are we? Where do we need to go now? Either through yourself or your board or your partners, whoever it is, you should already know what good looks like. If you're in private equity, you have a contract that you've signed saying this is what you're going to deliver. And if you're at, we're just gonna make up numbers here. So if you're at 50, 50%, $50, $50 million, and you're going to 100, you gotta figure out how to go get 100, or excuse me, you have to go get $50 million. We're just talking millions. Doesn't really matter. Now you're gonna look at numbers on this, and if you're a small company, you're gonna go, holy hell, how am I gonna do $500 million? If you're a $10 billion company, you're gonna look at this and go, who cares about $50 million, right? So recognize we've just picked a middle market company to talk about. The numbers in and of themselves aren't important. It's the example that we're giving here. So, so don't get hung up if you think you're too small or too big or something. It's like the 3, the, you know, the, the 3 Bears, right? You're going to be your Goldilocks. You're going to be just fine. Use these to go through. So you got the job, you got to go from 50 to 100. You sit down with your financial leader and you need to know what's possible. The financial leader you have, I'm gonna call it the CFO. That's what I have. We'll be able to tell you mathematically from your financing, your accounting, and things like that, is it possible? You also need to understand the market. Are you a GDP company that grows at 2% to 3% a year? And then whatever pricing stacks on that, or are you in some rocket industry that's growing at 20% or 30%? Bolt in what's appropriate for you and know that. So I run a lot of industrial companies, distribution, manufacturing services companies. These businesses left on their own typically are GDP. So if the market's growing at 5, we should be growing. That's how we measure ourselves. Then we get pricing on top of that. We get share on top of that, share shift, all the things. So our goal in manufacturing or these types of companies to get 10% a year, 20% on the bottom line. Boy, that's like the golden halo. Look, you're in software. You might be ashamed of those numbers. So pick the ones that's appropriate for you. It really doesn't matter. It just matters that it should be realistic. So don't pick one that's impossible and don't pick one that's too easy, right? So you're going to sit down, you got your goal, and you look at the history and this thing's been growing at low single digits, 2, 3, 4%. You're just getting market growth in. Market's down, you're down. Market's up, you're up. You're riding the wave. You're going to have to step it up on that. And your 2 or 3 things that you're looking at is one, Profitability. Can I add pricing on that? You know, get it all, but you'll get some. Two, is there business I can shift over from my core business? Is there new products, new markets? All these types of things I can go in. So you're going to be looking at all these things. So you're sitting here, you're talking to your CFO. Once you get a number that you can agree on that's stretchy but not crazy, and it's not an easy one, you're going to walk in that room with your executive leader team. And you're going to talk about what that number is. You need them to buy into that number. You've got to set the number. So if you're at 50 and you got to go to 100 and you're going to go 3% a year, well, the rule of 72 would tell you divide that number into 72 and that's how long it takes to double. So we're picking a double number. That would be a long time, right? So 3 into 72 is going to be like, like 20 years. It's not going to be enough, right? You're going to have to take and get there a lot sooner. If you're getting 7% a year, 10 years you double. So just kind of keep that in mind. So 10 divided— 72 divided by— to triple is 111. So you take 10%, divide it into 111, 11.1 years you triple. 7.2 years you double. So if you're growing at that, you got a long ways to go, right? So you got to figure out how to go faster if you're going to achieve your goal. And if you've signed up for it, you probably have committed to something with 5 years or less. Believe me, everybody wants faster. So do you. You want to get paid. So with that in mind, you're sitting here, you're looking at, uh, you know, what it's been doing. It's going to be less than what you want. What's it capable of doing? You walk in there and you've got to get them to believe. Now, once you have it believing, you can decide how many years it is. So if you're 3 years, in order to double it, you got to grow 20%. May not be realistic if you don't have something in the pipeline to get there. Second piece of it is, so that's going to set your time. This is all around organic. The second piece of it that you can take a look at is around inorganic or buying, M&A, call it whatever you want, but you're going to buy companies. If your company is a mess and you think you're going to go buy other companies and put them in there, be prepared for a bigger mess. Now, you can run them all separately and all that, but typically whoever you buy it from, the owner becomes enriched and they want to go do something else. They sold it for a reason. Believe me, they didn't sell it so they could work for you. They sold it to put money in their pocket, go do the next thing. Now, some want to work on, but it's rare. Something greater than 80% of leadership, particularly owners of a company, are gone within a year. It's just the way it works. In private equity, the CEO's job generally is to get fired before it is. They'll come in, they do the transition, within a year they want out. They get their last year salary to go away. Buying company's happy, the acquiring company's happy, the selling company's happy. But so, it just depends on how you set it up, right? If the— you could be a small company buying a big company and you want that CEO to come in. So, lots of things to think about. Just make sure it goes with you. So, you've got a goal. Mathematically, it's now possible. You've set it in front of the team. They've got to chew on this. They got to understand, well, can they do it? They don't have to understand how yet. Just is it possible? Because the thing they're going to do after this is they're going to go away. And they're going to figure out strategy, the way to get there. You set the mountain, right? You say, you know, I'm going to— we're going to take this mountain. They have to figure out how to get to the mountain. It's important they do that. We talk about this a lot, talk about it in the other areas, right? So you set the clear, achievable, investor-aligned target. All that I just said was to say those 4 or 5 words, right? You're going to determine revenue and EBITDA and what's organic. You want your team, uh, focusing on organic. Because doing deals is so fun and exciting, and it puts the work on someone else. I go, yes, I'm a master of universe. I went out, I spent all this money, I bought a company. It's it's a proud moment. They can brag about it over cocktails with their friends on the weekend. But these companies are hard, and the reality is most companies don't add value, particularly if you don't have a clear strategy and you don't have the process to make them better. So I never allow us to talk about. How we're going to do deals at first. We talk about what we can deliver strategically, and then we metaphorically or euphemistically say those are big words. The rest is going to go from there. So if I can figure out I can grow this at 10% a year, and just using not compounding, just that means every year I'm doing five, then six, and things like that going on. In three years, I've added 15 million. I got to go to 100. Well, I'm selling at 70 or 65 or whatever it is, depending what the math looks like. I have to then ask myself, can I get there inorganically? Can I get there by buying something? Well, we call that dry powder. How much dry powder, how much money do you have? What's on your revolver? What are your banks going to allow you to do? And how good is your team? So you may have to set this aside. So either A, your goal is not realistic, B, you don't have the way to do it, or C, you do have the way to do it and you're going to figure it out. You have to determine that. There's no need of putting together a goal that has no hope, right? But you do want to put together the goal that ultimately has both inorganic and organic that you're going to get there. EBITDA is going to be a byproduct. If you are at 50 and you're making 10%, so you're at 5, whatever 5 is, and if you get to 100 but you're making 2.5%, you got nothing. You're still at 5. Your company's worth no more. In some cases, it's probably worth less. But if you've taken and you took your 50 to 100 and you went from 10% to 20%, oh boy, you're riding a rocket ship now. You're gonna make a lot of money. So you got to get the bottom and the top going in the same direction, but the bottom growing faster. Understand that, right? It's not just one piece of it. And then finally, the organic mix of it. Focus on the organic. Don't let them talk about they're going to solve their problems by bringing in some magic bullet. That comes later, and that's going to be you, your CFO, and your one or two key leaders like your corporate development or your business development. Whoever it is, it's going to figure that out, and then it's going to go into— if you have one division, it'll go there. If you have multiple, it'll go in the right one, right? We'll get to those things later. So your job right now is to get you and your team delivering predictable, profitable, sustainable financial performance. Anyone that's going to buy this thing is— that's what they're going to look for. And if you don't want to sell it, which is great, then you're going to want it set up that way because you're going to want to go fishing or boating or, or golfing or hunting or just sitting around watching TV, whatever gets you excited. If this isn't happening, you're not going anywhere. You're going to be fighting fires. You need this just to have some peace of mind so your spouse doesn't divorce you because you're never home. So go fix it. All right. So you got a goal. It's reasonable. It's stretchy, but people believe in it. And you're focusing on organic right now. What's next? Right. We're going to use the framework. 80/20 framework tells us where it's at. That you got to shift things to get after this 80/20 framework. And your core levers are really very simple. Pricing power. It is the simplest one. It's not easy, but it's the lever that if you pull it, every nickel flows through. It's the only frictionless one you can do, and it happens the moment you pull the lever, assuming they keep buying. Pull too hard, might break it. We have a great program called the Margin Multiplier that'll walk you through what that is. Customer and product mix, right? That's around segmentation. And there's all sorts of things of new product development and all this, but it's really looking at what you have today. Then it goes to your gaps. If you do new product development, it's tied to whatever it is. If you're selling a Caterpillar, their cycle runs multi-years. So if you think you're going to get the next whiz-bang on that engine, which is great, that might be 4 years out and they may already have someone else on it. So just recognize it's tied to product life cycles, particularly if you're selling to OEMs, original equipment manufacturers. If you're selling to end users or Direct-to-consumers, you get the right product and there's something out there for it, you sell that thing tomorrow. Takes you however long you need to develop. Most are between 6 months and 18 months for new products, what we see. We also see some that go longer, some that go shorter, just depends. So customer and product mix, make sure you're focusing on the ones that you have and that you can go do. You can source some out there, right? You can white label it, that means put your name on it. You can also go and Buy the ones that have their own name brand. If it's yours, if you've made it, you'll make more money. If you're selling an OE product, an original equipment, you're going to make less money because it's going to accrue to where the power is at. Cost efficiency, that's the middle of the P&L. You got to get that thing working right. If you're paying too much, if you're not, uh, maybe you're not paying enough and you got a lot of turnover, or maybe you don't have enough people. Cost efficiency is making sure that your resources are being used at their best way possible. So understand your pricing power. This customer and product MISC is going to have a lot to do with your cost efficiency. And then your Execution Made Simple, right? Your execution cadence. Once you understand what to go do, get after it. You want to move fast. We have some terrific, terrific programs here from the RAB or Resource Activation Blueprint all the way to Execution Made Simple. So you'll be available to all of these to you if you— or they'll be made available to you if you want them right now. The process: start with your baseline. What have you done? Not just last year. I see lots of people had a great year or a bad year and they go, this is how it's going to be forever. Rarely does someone say the bad year is going to continue. They typically always say the good year is going to. Neither one are typically true. Establish really what your baseline is. Look over the last 3 to 5 years if you've been around that long. Do some averaging. You know, get a clear understanding where you are today, what you think is going to happen. Look at your 3-year financial historic statements. Look at all the obvious KPIs off of that. Understand your customer and product segmentation data will absolutely help you do that. Look at your sales, general administration, your COGS, right? Cost of goods sold. So if you're not familiar with those terms, that's the COGS is the top of your P&L. The SG&A is in the middle. These are where you're going to focus a lot of your time. COGS are hard to change. So if you're buying steel, steel is a commodity product. It's market-based. You're not going to have a lot of impact on it. Even if you're a big buyer, you can get so big, maybe you're making it yourself. If you are, congratulations, or My condolences. It still is hard to make money in. SG&A is much easier, right? You can take and control things around who you have selling, what your general is. Does everybody have secretaries? Does no one have secretaries? All sorts of things. So this is easier to get after. This is harder. If you're looking at buying a company and they don't have a COGS structure you like, that's going to be hard to change. This in the middle, we have all sorts of metrics that we like to look at on it. So if you've got a COGS and your, uh, cost of goods is greater than 50%, That only leaves a lot. It leaves half. So if you got 60 or 70, that's 30%. Most businesses are going to run with something less than 30% SG&A. Efficient ones, and depending on what that means, are below 20%. So if you've got 30% and your SG&A is 20%, you're going to be making 10 points in the bottom. Not a lot. Not a lot of cushion there. You're going to have to be looking at things. There's tools you can do to go after it, right? And then acquisition and divestiture. So Maybe you got some dogs in your portfolio, you want to get rid of that. Maybe there's some things out there you need to buy to get deeper with your customers. Try to stay in your core market. We'll talk a lot about that. So outputs— base your year on your revenue, right? What's your base year? What are you going for? Your jump-off point, or JOP. Base your EBITDA, same thing. Stick to the organic, right? We want to talk about these other pieces here, but do not let your operators get distracted by saying they're going to get rid of inorganic. They're going to have to help you buy them because they're going to have to run them. But if they think they're going to solve by buying something, you're in trouble, right? It's got to be actions they can control, and you cannot control who you buy. You can try. You can certainly overpay and typically get it. But remember, the seller always has better information. They're wanting to sell for a reason. Generally, is it, I have this really great company, I make boatloads of money, and I'm gonna give it to you cheap? That generally doesn't go too well together. So Make sure you keep your mind about. So here's an example. I told you we're going to use middle market companies. 250, that may be small or big. It doesn't matter. You can make this a 2.5, a 25, a 250, a 2.5 billion, whatever. 250 billion, you pick your your number. That'd be a big company by anyone's metrics. EBITDA is 35%, 4% margin. What are we going for? 6%. GDP has been running about half of that. That tells you they're growing faster than GDP. Don't know if they're growing faster than their market. But that's where we start. And inorganic, we're going to look for 4% CAGR, right? So I put this on there. Don't bake that into the— let the team bake it into the number. You bake it in your number, but don't let the team do it. Define the target ambition, right? So the C sets the destination. You decide where you're going. We picked 3 years. Here's what I like to do. That number may change if you need a bigger goal and you need more time, right? So let it be what it is. If it gets out after 5, I don't know. Now you're—it's really going to be a struggle. Lots go on in five years. Heck, in the last five years we had a pandemic come in, go out. We had tariffs come, go. We've changed all sorts of things, right? So recognize lots happen in a year, much less five years. So what's your revenue goal on thirteen percent, right? You're adding a hundred million dollars. That's thirteen percent. Remember, we started at six percent. We got to two x that. Not going to be easy. How are you going to do that? EBITDA grow. Look at there. It's not a double, it's not 26%, but it is more. We like that. That's still a big number for most companies, uh, and that tells us we're getting leverage. We're putting in a dollar and getting out more than a dollar at the bottom. Our margin target, we're going to go up by 300 basis points from 14% to 17%. That's pretty good. That'll sell well. And likes to be where you are. If I'm sitting at 17, I'm feeling like I can get to 20. So, uh, and then your organic growth is 70% of the total. So, now what you be scared about if all this good stuff here is coming out of just the M&A? Not good. You got to deliver this. You have to get it coming out of yours, right? Rule of thumb, right? Uh, this revenue has to be achievable through your execution and aim for 2 to 3 points of annual— that's 200 to 300 basis points for those of you keeping score. Margin improvement through mix shift pricing and complexity reduction. You can get that out of that. Just getting your building, just getting your building more efficient. Let's say you have 10 buildings and you have all this inventory. You're only turning it one time a year. And it, and so if all these 10 warehouses hold inventory and you go from one time to 5 times, you need half of those buildings. That frees up a lot of capital. And that's a really simplistic example, but it helps you understand about how these things happen, right? You can quit selling low-margin stuff, sell high-margin stuff. Don't— not even trying to say it's easy, it's just possible. If it was easy, wouldn't need you. It would have people who are not as good as you. You're good enough to go do that. Define the mix between organic and inorganic. We talked a lot about this. Focus here. Focus on what you can control. You cannot control who's going to sell you the company. More importantly, you cannot control, uh, if you can get it for a reasonable price. Remember, when you buy a company When you get ready to sell it someday, you made all your money on buying it. Think of a house. You go in a neighborhood, all the houses cost $100,000. You pay $1 million for that house. You will not be able to sell that house again for $1 million. You will almost certainly take a bath on it. But if you paid $50,000 and everyone else— this has an equal house and every side is $100,000— you just made $50,000. So keep that in mind. What you pay is going to determine what your return is going to be. You, you know, don't think you can make it up by, uh, paying a lot and just running it more efficiently. It's going to be hard. Not impossible, but super hard. Okay, organic growth, right? This is from within the business. Here's the examples: pricing, segmentation, and so on. You want it all or the majority come to there. This is going to be you and your, uh, uh, special acquisition team doing it. Don't get lay one X to get distracted. That does not mean they're not talking to people and bringing in leads. It just is part of their job, not what they're focused on. Their operators run the business, right? Your mandate— main— I can't speak. Your mandate is that the goals must clarify what you can achieve organically and what through your actions with it, right? So over the next 3 years, we're going to achieve this. We're going from $250 to $375 million. I have used these words so many times. People get it. They understand it. You're going to get buy-in. You know, and it's because of things you can control. And if you've done this correctly, they'll believe you because the whole team is saying the same thing. It doesn't mean it's easy, but it is achievable, right? Align the strategic drivers. This is looking at your KPIs here, revenue, top line, bottom line, how the cash looks. Look, you can be making a lot of money, run out of cash, you're toast. You're going to be going to the bank or passing a hat around the country club, whatever it is you do. You can lose money for a long time as long as you got cash coming in. So, just keep that in mind. Cash is king here. What's the drivers? Everything from customer and product to working capital. What typically kills people in cash flow, and I worked with someone recently, kept buying more and more inventory. They kept getting these great deals. I'm like, you are going to go out of business if you cannot sell this stuff. Guess what happened? They went out of business. They spent too much. The business downturn with all the crazy things happening, and they did not have the capital to carry them through. Working capital is key here. Make sure you do it right. A lot of things to look at it. This is our zero methodology. It's the REMA that we've. Talked about there. All these tools are here, uh, for you. So ROICs are always be exiting. I love that term because that's how you should be thinking about it. All right, the model to the path here. So we just— it's a simple schedule about what you're doing. Again, I tend to ignore these. I typically talk to these, uh, with my board about where I'm at with it, and I will make no promises on this. This is strategic but a little bit opportunistic, right? And if you're not executing over here, go slow on this. If you're crushing it over here, you can pick up the pace a little bit. Plus you're going to probably, unless you got a lot of capital, you got to borrow that money to get yourself a revolver set up or whatever is necessary. So here's the years. We just picked them here. Here's your revenue targets, EBITDA, and so on. So this is what it is. This is the magic. This is where you're focusing. You're going to hold them accountable for that. All right. Step 6, right away. We redo this every year, right? We look at it. How far did we get? We never hit the same number. Sometimes we're better, sometimes we're worse. There's all sorts of things, but we keep this rolling. We look at it, we're constantly adjusting. So you set a budget and you say, we're going to spend this because we have it. If you're not hitting your budget, we're not spending, right? So make sure people understand that. Don't get hung into something you can't support, right? Then validate your data with the leadership alignment, right? Look at the assumptions. You'll kick off with 80/20, you'll get going. Then a year down the road, you're probably going to have to go through the Reignite program to look at the data again. Are we at it, right? That's not because you've lost your way. Things have changed. You made a lot of changes. Now reset. It's quicker the second time around. You're revalidating the data. You're looking at the markets and making appropriate decisions based on what's going on. Review it with your team. Your big partner here as a CEO is the CFO, right? They're your sanity checker. They're your caddy. They're the ones telling you this is working, this is not. You need to make sure you have clarity with them, right? Confirm your resources. If you've had a lot of turnover, if you've gone in different directions, I mean, all sorts of things happening. Reconfirm. Make sure it aligns with your scale. If you were going to go to 50 and 100 and you've had something materially change, you've lost a warehouse, you've lost access to it, your team has quit, whatever it is, you will need to change it to fit whatever because you may have gone just the opposite. It could have all gone well. Recognize, align it with the reality that you're in. The key questions you ask yourself to know that is, can we support the growth? Where is the next 20% profit improvements going to come from? You want to play these things out and you're going to get to go, whoo. Well, guess what? You got to do it again. You go back, you look at the data. So that's where you're going to find it. You'll get in there. And then what happens with your contingency plans if the M&A fails to show up? This is an output of your hard work. You don't want to go spend your time doing this. Now look, maybe you're a bank, right? Maybe you're a private equity and this is all you do, right? But we're talking about for those operating companies out there, those manufacturers, distributors, those service companies, those Retail outlets, don't expect M&A to save you. It's a force multiplier. It's rocket fuel. It is not the foundation. You got to create the foundation to go. Then operationalize through cadence. That's having your monthly meetings, right? That's the using the Execution Made Simple or EMS rhythm. That's monthly business reviews, quarterly business reviews, annual planning. All the things we've talked about is taking your simplification, what you've done, and now executing through the business. Go make that stuff happen. All the great planning in the world is wonderful. Plans themselves are useless. The art of planning is critical. The art of doing is must. Execute those plans and you'll find they change. It doesn't matter. It'll get yourself through it. It gives you a place to start right now. What are the scorecards that you're looking for? Right? How your top line and bottom line are doing. What your mixed quality is. Organic versus integral. If you bought something here, it's going to have a big impact. Man, you'll be like the dog that caught the car. I can't stress this enough. You want to go do it and everything, but if you're not ready, it will exhaust you and your team. Even if you are ready, it's not going to be hard. And list your cap— uh, cash conversion cycle. If you put a dollar in, how long does it take to come all the way back to it? The CCC, or cash conversion cycle. Uh, shorter is better. You know, put that dollar in, get it back, get multiples of them back. And return on capital, right? ROIC off of these. These are important metrics to keep you saying that it's working so you understand what it is. And, uh, are they going to be perfect? No. Maybe you're doing better, maybe doing worse, but understand why. Understand the levers that you can pull. We have a lot of training on these. All right, step 8, communicate the financial narratives. This is— you own it. You're going to be out here telling everyone. You have to decide how much detail you want to give, but people need to know where they are. You don't scare the bejesus out of them. You don't tell them that it's all going well and it's not. You're honest with them. I talk a lot about the Stockdale Paradox. And this is around, look, you're going to get through this. It's going to be hard. We don't know exactly when, but together we're going to go through it and we will make it. Because if you say it's going to be done by Thursday and it's not done, people will lose faith in you. So make sure you own the narrative. You're telling the tale where you are, where you're going, how you're going to get there, and what we're measuring. And be honest and candid with them. That's all you can do, right? Don't be hurtful and scary. They'll leave you. And don't be all pie in the sky because it'll fail. And then they'll be won't believe you. The results will be the same, strangely enough, right? So here's some examples with it. All right. What's your exact? What's your? What's the responsibility? What's your role in it? Right. Set the financial goal. You own this. You may think it's your CFO. Your CFO takes your goal and says, "This is how we're going to get there." You have to listen to what the CFO says and make sure your goal aligns. It's together, right? But it starts with you. You got to pick the goal. There's no need of picking a goal that doesn't get you to what you committed to. Pick a goal you've committed to and find a way to get there and bring everyone with you. Use the Stockdale Paradox, right? Tell them you're going to do it, how you're going to do it. It's not going to be easy, but we'll get there together, right? Validate the assumption, ensure data integrity, right? That's running your MBRs and the KPIs and asking questions around it. So this is just you paying attention, reading what they say, sending you and asking good questions. Make sure leadership owns it, right? Gain the buy-in, then hold them accountable for it, right? This is a tough one to do sometimes, right? You know, it's funny, I have promoted people who were missing their goals and I have fired people who were hitting their goals because the one who was missing it was doing all the right things on the input and the other one who was hitting their goals, uh, was simply riding the wave. We need systemic changes in this business. So you can't always look at the output, look at what's happening, make sure they're doing the right things. Because if you do the right things, the inputs are right, eventually the outputs will come around. Make sure you do that. Don't just reward someone for getting lucky, right? Communicate them. These are town halls, walking around, doing them in person, doing them online, all the things. Communicate early and often. And you think you've heard it so much you're sick of it, there's still people out there who don't know about it. So communicate really regularly. Track it. This is your, uh, uh, your KPIs that you're doing through your MBRs and QBRs, monthly business reviews and, uh, quarterly business review. I cannot stress this. It feels like a pain to do. But you want people showing up and owning what's happening, right? And then as it changes and you think, hey, I'm halfway through the year, I've got my plan, doesn't matter if it's going wrong. Change it. Change it now. Get buying and go do it. Don't just get ahead and stay on pace, right? But you're the leader. Get them all online. Course correct as necessary, right? Don't stay with a bad goal. What's the metrics? All the same ones we've talked about. EBITDA, revenue, cash flow. They're all important. Run out of cash, go out of business. It'd be great to have great 100% conversion going in. Sometimes you will, sometimes you won't, right? It's more common not to have. A good running business will have it. You got to make sure you're making money, and it goes on and on and on. So you can read these. This, this will be in there. So closing notes, right? As a CEO, you own the goal. It's not about predicting it. It's about focusing, discipline, and commitment. You and your team. You cannot force— you can't beat people until morale improves. It's about laying it out, getting where you're going, making sure it's reasonable and possible, and holding people accountable to get there. You have to decide what's reasonable and possible. What's reasonable for you may not be reasonable for me, or vice versa. It doesn't matter. It's you and your team coming together to go out there and win with it, right? Financial clarity creates operational clarity, and clarity wins in these things. You can't be here every hour of the day. Get your team around. So look, we talked about a lot here. I think this is super important. That goal is going to determine where you get with it. You as the leader, as a visionary, is going to set that. You must get buy-in, and then you must measure regularly and course correct as need be. And you're out there all the time doing it. If you don't get buy-in, if they don't want a strategy, you're going to do it by yourself, and that is guaranteed failure. So I hope this was helpful. This is exciting. It's how I run all these businesses. The success I have can be directly tied to Qualitative and quantitative goal setting. I hope this helps. All right, let's go get them and make something happen today. Take care, everyone.