One Year After Acquisition: Key Takeaways and Insights

Once you start getting larger numbers, I think it needs to be more clear direction of the organization, the values of the organization, so that when we're asking for expectations from individual team members for their contribution, not only are they quantitative and somewhat qualitative, but they also tie to the core values element of it. As we continue to grow, we wanted the core value to be front and center as well. So we're choosing the opportunity to grow, innovate, to continue to change. And we're not being forced into it, but we're choosing it. Foreign. Hello and welcome to the Wealthy Entrepreneur Podcast. My name is Bob Goverow, I will be your host. Super thrilled for you to be here with me today. Ultimately, this is the place where we dissect the elements that contribute to entrepreneurial success, from mindset to leadership to profits and revenue. This episode is going to be titled the five Biggest Takeaways from a One Year Anniversary of an Acquisition. And I'm going to jump right into it today. But for those of you who don't know, today is at least the recording date of this is November 1, 2023. Last year, on November 1, 2022, my company made an acquisition and it was a fairly substantial acquisition in our space prior to us acquiring a company, we had about 55 team members and we acquired a company that had 30 team members combining us to be right around. And you know, there were a few timing things, people coming in, people going out. Was around 80 to 85 people on November 1, 2022. And we're really excited about this. You know, this is a fairly substantial move, one for me as the only shareholder of the company, fairly decent risk in making an acquisition. But let me give you the context here. So in our space, we're a fairly innovative, advanced organization. Our business is constantly looking for new ways to service the market. And you know, we have different solutions that not every traditional CPA firm has, like virtual CFO services. We built a law firm. We definitely have all the traditionals like the financial reporting and the in depth tax opportunities, full bookkeeping and we also have a migration team. So amongst those things we continue to innovate and find new solutions that entrepreneurs, small business owners really need in their business. Now we weren't necessarily in the market for making an acquisition. However, you know, post pandemic, what we were noticing or what I was noticing as trends in the industry or even trends from an employer perspective were that a few things had changed. One was the individual's ability to or requirement of an employer to maybe have a remote Or a hybrid work environment. So that was an environment that pre Covid wasn't really in full existence. Covid certainly accelerated that. So it was something that we didn't have in place and we needed to, to accommodate. So we actually acquired a full remote accounting firm. So they didn't have a physical office space. They were building their presence online, which was super cool, predominantly bookkeeping focused. So some of the things that they had was a fairly innovative tech stack when it came to their bookkeeping solutions, using programs like QuickBooks Online, which we did, but innovating or using other innovative products like a Pluto for accounts payable, WagePoint for payroll services, other items that we had heard of, but we hadn't really fully integrated into our office. Now the cool part about this acquisition opportunity for us was that it was a very innovative, young, vibrant firm that was, you know, used to growth and in growth over a period of time and had a fairly good reputation in the online sort of accounting space. So ticking boxes that align with our team, you know, innovative youthful growth mindset. We also got into the nitty gritties of it and started looking at individual software that we used for project management. We use a software called Carbon. They also use the software called Carbon QuickBooks Online for a lot of our client deliverables. For bookkeeping, they also use QuickBooks online. We use a billing system referred to as Ignition. They also used it. So there were a lot of elements inside this business that we were acquiring that were very similar to what we did. And again, even looking at core values of, you know, the remote team core values versus the GoPro team core values, they were not far off. But we knew we had to redefine the, the nature of the entity essentially as we combine these, these two organizations. So wanted to share the context that, you know, this was a fairly, it was fairly substantial. There was a lot involved in it, including financial investments on my part, but that a lot of the cultural approach, innovation, you know, sort of leading the industry with change management, were very consistent among both organizations and on paper was set to be, you know, complete alignment. And we obviously came into this with our eyes wide open that not everything is going to be as perfect as it looks, especially when you include 80 to 85 individuals in there and how they respond to this. And so what I wanted to share with you guys today as part of this podcast was the six biggest takeaways that I have from one year. So thinking of post acquisition one year later, what did you learn? What did you learn that maybe you weren't otherwise prepared for. So I wanted to share those, those six elements with you. Number one was the cultural integration. Now what I will say is again, on paper the core values, the culture seem to be fairly well aligned. But the one sort of area where I underestimated the difference was remote and in person and certainly their relationship with work is completely different. And I wasn't really anticipating like of course when I say it out loud it's like, oh, of course they're going to be different but you know, their approach to work is different. The value of what's meaningful, you know, flexibility in, in a role to be able to go and do your laundry or go walk the dog or go pick your kids up from school or you know, whatever that looks like for you and versus, you know, being in an environment that's really high energy, positive vibes, clean, innovative, with other people and that being meaningful. More meaningful than maybe the flexibility of doing your laundry during the day while you're also working. So we definitely had, you know, some roadblocks when it came to that, to making sure that we understood how everybody could work together nicely and that, you know, our people who aren't in person, we needed to understand how we made sure that they knew they were valued, they were involved with everything. And our in person team, how we had to essentially look at how they delivered and created more flexibility for them. But one of the things that we learned and, and it took me until maybe January, February to realize this was that although the core values of each individual team were fairly well defined and very similar, what we did to initially kick it off was we just took the govroll core values and we said this is the core values and which were people, passion, integrity and maybe innovation in there if we look at just one words. And although the remote team that we acquired had very similar values, they weren't those. So there was constant reference to different core values which just meant we didn't have one unique identity. And that was probably something that, you know, I wish I had have thought of prior to the acquisition was that we needed to define what the new brand, what the new identity, what the new core values were. But it also felt good to let it sit a little bit and to allow, you know, what was this new entity to have the opportunity to see how it sort of came together. And so by January, February, we had strategically with our leadership team, we had brought together, you know, the brains of the organization's strategy, brought them all together and we started talking about core values, what it means to our individual team members and what it means to us. And truthfully, what we wanted to do was define an entity that we all wanted to be part of and that this wasn't only just going to be for the individual team members that were part of the team now, but also the recruitment of new team members. As we continue to grow, we want to find those like minded individuals and we want to attract them to the team based on these are our values. If you resonate with these, then you should maybe be part of our team. So anyway, we launched new core values, a new mission and vision statement as well. And yeah, it gets a little corporate, but once you start getting larger numbers, I think it needs to be more clear direction of the organization, the values of the organization. So that when we're asking for expectations from individual team members for their contribution, not only are they quantitative and somewhat qualitative, but they also tied to the core values element of it. So we redefined our vision and our mission, which is essentially to empower entrepreneurs with really good information so that they can make informed decisions and ultimately change the world. So we're supporting positive change global, globally. And we also had this mission that we want to transform the professional services experience. We want to essentially go from it being a very cold suit and tie sort of idea to more of a, an Amazon experience. How do we make it easier for the clients that we service to get access to us, to get a product turned around quickly and it to be at really high quality? So those were the high level mission and vision. And then we started with our core values, which the first one was all in. And we decided that ultimately everybody needed to be all in for ourselves, for each other, for the organization. Because if we want to transform this industry and we want to empower these entrepreneurs to make positive change in the world, we need to be all in and supportive for them, for us and for each other. The second one was own it. And part of this was that as we were coming together and the different environments that people were coming from, you know, it was very easy to say, well, you know, the remote team should have done this or the in person team should have done this, or it's because this work was done one way or this was the other way. So our core values essentially said, you know what, we need to own it. You have to be responsible for these things and we're going to make sure that we're clear on what you're responsible for, but you have to own the results and you're going to be held accountable to those. And we wanted to Create a culture of accountability. And it doesn't just happen like that when you say own it, but it's continues to be a process. And I'm going to share with you how we've done that in a moment. The third one was as we continue to grow, we wanted the core value of choose opportunity to be front and center as well. So we're choosing the opportunity to grow, we're choosing the opportunity to innovate, we're choosing the opportunity, opportunity to continue to change. And we're choosing it. We're not being forced into it, but we're choosing it. And that's something that all of us together as part of the core values of who we are as an organization, we have to be receptive to this because we need to continuously improve and become better at who we are and who we are as a team and what we deliver to our clients. And then lastly, which I feel is. Is likely one of the most important core values we have is that we're better together. We're better when we support each other. We're better when we have team members that are able to problem solve in different ways. We're better when we work as a team versus individually. We're better with our clients and us, you know, we're all better together. And I think that was a core element of our core values that brought everything together. So that was a bit of our cultural integration, you know, for sure, you want to identify where you're going to have a rock and a hard place. You want to identify what that looks like so that you can somewhat foresee where the challenges are going to be and likely try and address them. And one of the things we did right early on was we tried to come up with a frequently asked question or a challenge sort of listing and we had all of those answers responses available for our team so that if they were resonating with any of these items that maybe, you know, was a little bit resistant to each of them. They had access to this document so that we had thought out pre thought out some responses for them so that they could get access to those answers very quickly. And then again, post acquisition, I'm looking at it now and I'm going to say, yeah, cultural integration did not happen overnight. It definitely took a while. Our core values, our new core values were released and launched and you could feel the energy and the vibrancy that was brought together. It did eliminate those two separate identities and form into one as far as, you know, core values, mission, vision, we were all one team There were still, you know, some challenges with remote and in person just being a different sort of vibe, a different sort of expectation. And we continue to work on that. And I think, you know, a year later, we're getting much closer to making sure that those two types of work environments are fully integrated. But it is a different experience for both, and there are different values for both, and I think we need to celebrate that as well. So that was number one, cultural integration. Number two was focus on and being clear on desired outcomes. Here's one thing I noticed when we went from 50 people, which still seemed very manageable for me, you know, as a business leader, as a CEO, I felt like at 55 people, I still had my hand on the pulse of everything that was going on within the organization. It also helped that everything was in house at that point. And I could see it, feel it, touch it. I could walk the hallways and see everybody. We were essentially on one floor plus three people on a main floor reception. So was able to touch base with all of those people on a daily basis. With a remote team, it became a little bit more challenging because everybody wasn't on a zoom call all day. So one of the outcomes that I realized as part of this was when you aren't able to see, touch, feel the outcomes of what's happening in the organization, when you grow to that scale, or when you empower managers to be able to be responsible for those things so that you can get out of the office a little bit more, or you can focus on more strategic initiatives versus the day to day. One of the things that we need to be very clear on is what the expectations are for individuals on our team and what their goals are. And I feel like over the past 12 months, we've definitely got more and more clear on desired outcomes and being clear on what our expectations are. And we're clearly, we're moving towards having that extremely clear. And, you know, I'm going to walk into number three because it kind of ties in here. But clearly defining roles and responsibilities for the individual contribution of an organization, like all the team members, what their contribution does to the overall goals of the company and what the big picture goals do look like in the organization. And I feel like it's got to be. It's not just financial outcomes, but it's like, what is all of us working together and collaborating together and taking on more work and growing. What is that doing as an organization? What are we accomplishing? And for us, it's empowering more and more entrepreneurs and making a Larger impact. Because for us, you know, when I think of empowering entrepreneurs, I think of you. Who's watching this right now, you're a small business owner, small to medium sized business owner. You likely touch, you know, 500 to 1,000 people, maybe it's 20 people a year. And for us, we have a thousand plus clients. I was looking at it the other day. We have about 1500 corporate entities or business entities that we work with. 1562 I think it was as of yesterday. And if I'm working with you as an entity and you're one person, I'm dealing with 1500. You're also dealing with 500 to 1500 individuals together. My ability to empower you to make better decisions, grow your company, reinvest in it with confidence, and know that those resources are going to continue to impact more people that you serve. You know, we're ultimately having an exponential impact in making a difference in the world. And that's what really brings people together. But that's a high level, that's a big picture for every individual. They want to know what their contribution is to that bigger picture. And you know, again, as the organization gets a little bit bigger and you're not able to be as actively involved in the day to day with everybody, you know, those relationships that you would see and talk to people for 10 minutes a day becomes a little bit more challenging when you have 94 people like we do. So those conversations become a little less frequent, which is okay. But we have to put in some sort of sequence of accountability and be very, very clear on what the roles and responsibilities are. And we just recently in the last few months went back and really well defined roles and responsibilities. And I don't mean like a job description, I mean like what are the outcomes that are required for each individual? And while we were going through this process, became very clear to me, and I read a bunch of books on this too, that if an individual is not fully aware of, you know, the outcomes that are required for them to do a really good job. Like if I as a boss am not sharing with every individual on my team what they're doing a good job looks like, how should I be able to expect them to accomplish that? Like they might be thinking of what their determination of a good job is, which may be just showing up and being here. Maybe it's just showing up and being on time. Maybe it's, you know, making sure that all of the tasks on their, on their desk are completed every day. It may mean from my perspective that they're hitting all of their output targets, that they're going above and beyond and offering additional value and coming up with new solutions and being innovative. It may also mean that they go over and they support other people who aren't able to get through their tasks as well. It may mean that they're supporting and mentoring, you know, the individuals who maybe report to them or some of the junior team members. So if I'm not sharing that as part of a role and responsibility. Yes. You know, you kind of have this expectation as an employer, like. Yes. Does it not make just common sense that those are good things to do? Yes and no. Because if we're not very clear on that, we can't really have an expectation. But if I tell somebody, you know, your role and responsibility is when you're done your work, which is one thing you need to do. If you don't get your work done, that's one thing. You need to go support those that don't because we're part of a team. So your objective is to make sure that your team gets everything done, not just you, and that those individuals who are junior to the team need to be mentored and they need to be supported so that they feel encouraged to do great things. So we need to be very clear. So number three was clearly define those roles and responsibilities. And again, as the organization has grown, you know, we've added maybe another 15ish people from 80 to 94, so 14 people since last year. That being very clear on those roles and responsibilities is so very important. And in fact, we've got a strategic planning session with the whole team coming up. One of the things we're going to focus on is for every individual role, what is it that's going to make that person get a 10 out of 10? Because what we want to do is very clearly define, foreshadow the performance evaluation for every individual to say, if you do all these things, you're a 10 out of 10. And yes, you're a leader in the organization. Yes. If you do all these 10 things, the organization is going to be more successful. If the organization is more successful, there's more opportunity. There's more opportunity and you are continuing to demonstrate your excellence as an individual contributor. There's going to be more financial incentive for the business to make sure you're financially supported in your growth as well. So lots of things. But we need to be very clear because again, as your organization continues to grow, if this isn't clear, we're going to be lost and we're going to start not being as successful in accomplishing our outcomes, our profitability, our margins are going to get squeezed. And we witnessed some of this early on in the year, and we've tried to recover it by getting very clear on it, and it's definitely worked. Not to mention that our employee engagement survey has also started to increase. We always have fairly good scores from our employee engagement. But there were some consistent things feeling like, what is our role as part of the overall organization that, you know, again, I might think that they're fully aware of it, but if we're not explaining it very clearly, we can't have that expectation that that's, in fact the case. So that was number three, number four. So this is a big learning moment for me, thinking that last November 1, 2022, with an acquisition, yeah, it was going to be, you know, a lot of work. We're going to have, you know, a whole bunch of time, maybe two, three weeks of time spent on making sure that everyone knew exactly how the organization was going. Let's get to know everybody. Let's check in and see how everybody's feeling. But I did not know that it was going to take as long as it actually did. In fact, I would say it took until late in the summer to really have that sort of calmness about everyone settling in. And truthfully, that's been the bulk of my, I would say six or seven months in there was making sure that everybody felt very comfortable with their role in the organization, how the culture was aligned, the values of the organization, where we're heading, and making sure that everybody was just feeling okay, you know, and settled and felt confident that this was the place for them. And I've got another takeaway that I'm going to share with you in a minute that ties into this. But for sure, if you are going through an acquisition or your early stages, if you're early stages, you're probably already there going, this is an overwhelming amount of emotional reaction to change. And, you know, the one thing that I would say immediately, you know, my organization acquired another organization. I fully expected the other organization to go, oh, my goodness, what just happened? You know, have a bit of shock, go, is this even something I want to be part of? You know, we did a really good job of. Of connecting with everybody, making sure that they understood their role, making sure that they knew that the company was really strong. And we had a really great vision of this collaborative entity that's now one and it's a powerhouse. And we did a really, really good job in that, but the time that was spent with the emotion related to the employees was way longer than I thought. Months and months and months before people actually felt like it was trusted because they felt like there was almost a loss of trust by the previous owner selling the organization that they worked for. They were, they just weren't sure. They weren't confident about what the future looked like. And it took way longer, way longer than I thought. Now the next one is, which is number five, is managing turnover expectations. So we as an organization traditionally have had relatively no turnover. We may have had, you know, one person a year that's moving to a different city or something like that, but, but relatively no turnover. The people who have been with us, you know, the average time, if we looked at all the people who were pre acquisition, you know, the average would be three, three, four years. You know, we've got new people that we keep adding that have been here for a shorter time period. But a lot of the people that were early on have stayed with us for a long time. And I think, you know, one of the realizations, something that I'm very proud of is, is the care and the support that we have. Although it may not always feel that way for some of our team members, but the care and support that we actually provide to our team is extremely high and especially the care factor. And I think, you know, I think 94 people, everyone would understand how much we actually care about them. They may not feel like it's the job for them, but they know that we always have their best interests at heart. And at least that's how, that's how I feel. And that's the response from the majority of the employee engagement surveys that we get back. However acquisition happened, and I want to tie this back into time spent with the motion of people we focused on the emotion of those that were part of the organization we acquired. What I did underestimate as well was the emotion of those that were pre existing. And some of the things that, you know, they thought about during this, this acquisition process was did I lose opportunity? Who is now is my boss? Or are there more people that are challenging for my position? You know, I feel a little bit uncomfortable in my own seat in the organization right now because I don't really know who all these people are, but I can see that there's more people in my department. Do they have more experience? Do they have less experience? You know, what is the manager thinking? Do they value them more than they value me? When maybe I, you know, had an opportunity to advance Do I still, what does this mean for my performance evaluation? Am I going to get a compensation increase or am I not? There was a lot of that happening and I was actually shocked with the existing team that was in place, how they actually felt uneasy with this and almost felt a little bit of lack of trust with this happening as well. Again, knowing that this is a high trust environment, they felt like they didn't know about it. You know, they were unaware. Does this change their career path? You know, all those kinds of things. So what I want to just make sure that we're aware of is the emotional response of employees. We can't fully understand how everybody's going to react. So just save space for this because it's super important that you have the space you need to help support those people. And I would say that it, you know, if I were to do it again, I would make sure that every manager has a plan on how to check in and make sure that each person feels safe and to share the departmental goals. You know, we maybe didn't have departmental goals as well outlined before, which is why I'm saying as well, you know, one thing we've learned is to get those goals, roles, responsibilities, what each department's accountable for. Because if we had have had that at the first place, we could very clearly demonstrate how those individuals are contributing to that and what that future opportunity looks like. So, again, tying clearly defined roles and outcomes, time spent, and making sure that you're understanding there is going to be an emotional response. But also looking right into turnovers, and this was the one that I started chatting about. So we have had a little bit of turnover in our team. We've had a little bit of turnover in a couple different ways and I want to share those with you. So right out of the gates, we had some people on the team that we acquired that immediately left. I can think of at least three that as soon as this happened, they were gone, maybe four or five. So four or five out of 30 people within the first two months had, had departed. Now, under learning later, it seemed like a lot of those four or five, the majority of them had already had plans on leaving, so they had already kind of thought it out. And this was just their excuse to be like, yeah, I'm going to bail and I'm going to try something different, which is totally okay. But you know, for me, I took that pretty personally at the beginning, right, Because I had no turnover. And I think if you are a company that's acquiring somebody else, just be prepared that it's not going to be for everybody. And not only were there a couple immediate ones, but once some time was spent in here, you know, as the organization became a little bit bigger, those high performers really stood out and the low performers really stood out. And those low performers started to leave too, which again was okay, because if they weren't able to get their performance up, we were probably going to have to make that decision anyway. But we were able to see some of those low performers or those unambitious people were like, this is an organization of substantial size now with ambitious goals to continue to grow. And I don't know that I want to grow. I don't know that I want to take on that high performance sort of culture. And we lost a few more people. And again, that was okay. That one was, was more to be expected. But be prepared for that as well. That some people who might be succeeding before may not be succeeding after because they don't feel like they see themselves with the organization. The organization has changed during this journey. And then the last one would be, you know, we probably looked at this and said, yes, there are some people who are lower performers. And we had to, you know, remove a few people as well that we didn't think were up to par, which maybe they hid a little bit better. When the organization was smaller, it was more supportive. The outcomes were there. But as soon as it started to require every individual to deliver, we could see some people faltering. And if they weren't deciding to move on, it was us deciding. So truthfully, at the end of the day, we had about a 10% turnover rate, which was pretty huge for me. Wasn't expecting that. That's actually lower than the average turnover rate. I looked up. Statistically, the average turnover rate annually is 15% in an organization. I would challenge you that if you were to go through a dramatic event like an acquisition, you're also going to see that that turnover rate is going to go up. So if you're at 10%, I would challenge that it probably goes to 20 to somewhere between 20 to 30% just based on the emotional response. And if you as the CEO or the leader of the organization isn't committed to that time, that number could be substantially more. So just be aware of the fact that there is an emotional response with individuals within the organization. When, you know, a substantial event does happen, especially when you bring in or you get rid of individuals on the team, they start to feel uneasy about where they sit in the organization. So be very, very clear on this. And then lastly, my six biggest takeaway is, and this probably came later on in the 12 month period, is making sure that the right people are in the right seats. So as we went through this past 12 months, I could very clearly see the high performance people start to stand out and those people who are willing to take on more and wanted to see the organization succeed and wanted themselves to succeed. And very clearly those individuals were self identifying themselves by performance and through their contributions. And what we wanted to make sure is that we put those people in the right seats. So we made sure that we recognized that sort of effort with advancement opportunity. And I think one of the interesting parts of, you know, if I look at this as a larger picture, one of the interesting elements of an acquisition is to create growth. Right? Acquisitions are to create growth. They're also to learn for us. Again, learning how a remote environment worked versus an in person environment. Yes, it had its challenges of integration. However, you know, our largest way of, of adding team members now is through the remote environment because we get access to even greater talent that isn't in our local area. So we can go after the best and the brightest and get exposure to a lot more people than in the small city that we live in. So that's been super, super valuable for us. So learning has definitely been a key element, but making sure that we get the right people in the right seats. And I, I would challenge you that when an acquisition happens, know there are emotional responses. It does take time, but in that you'll see those people that you can rely on and those high performers, they will start to step up ahead of the crowd. And it's a pretty great thing. And I think one of the great opportunities with an acquisition is to share the potential career advancement opportunities for those individuals and really map out what their future career could look like and show them that this is the pathway to go from where they are now to where they want to get to. And in a lot of our instances, you know, it's either a director of a particular department or it's a partner. That's not equity, but it's a partner in status where they're responsible for their own clientele. So, you know, really exciting things can happen through an acquisition. But I will tell you as a, you know, give me 60 seconds to recap the last year. It's been the hardest business year of my career and we've been doing this for 15 years. The emotion that happened likely post Covid integrating different cultures, the response from individuals for an acquisition, you know, the trust having to be rebuilt. Even though there was nothing that happened that, you know, would have deterred trust, it was just the fact that people weren't aware of what was happening and felt like they maybe didn't know all the things that were happening and, and maybe lost a bit of faith there as well. So it had to be built back up through action, not through talk. So that took a while and it has been challenging, yet rewarding because it is something that I know is creating a huge impact on achieving our mission, which is empowering great entrepreneurs just like you guys to make informed decision with backed by really good financial information and have the confidence to do so. So takeaway, definitely go ahead with acquisitions. Make sure your due diligence is done properly. We can help support with that. Make sure that your strategy is in play. Make sure that you're understanding how to integrate the cultures. Make sure that you're focusing on desired outcomes for individual roles as your team grows. Make sure you're very specifically understanding that and the roles and responsibilities of each individual and how that contributes to the overall goals of the organization. Be prepared for turnover. The organization is changing. It's not the same as it was 12 months ago. Some people will love it, some people will not love it. I had a few people who have said, you know, we don't want to grow, we just want to stay in our role and we just want to do our thing, which is perfectly fine for me. And those individuals are still here with us. But it's the moment where they don't want to be part of it, where sitting on the sidelines or just doing their job isn't enough. They feel like there's too much pressure. With a high paced environment that might be okay. You know, my wife always says this as when a challenge comes up or somebody responds in a way that you weren't expecting and it's not very nice or it's not very embraced. She says bless and release and it's okay if it doesn't fit for somebody. We wish them all the best. We're not doing anything out of integrity. We're building something, you know, that's aligned with our vision and our values of our organization. And if you're doing that, you're going to have great success. If you've enjoyed this podcast episode, which is again the five biggest takeaways from a one year anniversary post acquisition. It's a real life story. These are my experiences. Give it a like. Give it a comment. Share if you feel like there's another valuable outcome that you've seen from a succession. Drop a comment in there. I would love to hear it and share the experience so that we can help more entrepreneurs just like you guys to get great information if you need help through an acquisition. With our team we actually have a legal team in house that can drop an asset or a share purchase agreement. We also have a really great tax team in fact world class tax team with some of the best in Canada as far as tax planning experts go. So they're here to help support with that as well. Succession planning, anything like that. So we're going to make sure in the comments below there's going to be a link to book a time with our team if we can help support you through any of your mergers and acquisitions or if you want to be part of a community like our million dollar a year coaching program which essentially is individuals like me and other entrepreneurs just like you, where we have mastermind sessions. We share this knowledge and help support each other in making progress and continuing to grow as well. We'll drop a link into join our million dollar year program as well. Fairly minimal investment, lots of value that's in there. There's over two years of trainings and resources shared from us not only as experts but in our personal journey and experience as well as this has been amazing. Make sure you give us a follow. Share this with anybody that you think would benefit from it. Guys, thank you for being here at the Wealthy Entrepreneur. I'm Bob Goverow. Appreciate you being with me today.