Creating Recurring Revenue Streams for Your Small Business

The Small business show episode 362 for Wednesday, January 12, 2022. Greetings, folks, and welcome to the Small Business show here at BusinessShow Co, where we are small businessing every. Well, I was going to say every week, but really we're kind of small businessing all the time. Although we're trying to take little breaks off for the holidays, where we're actually record this before Christmas even, believe it or not. Yeah. Because so efficient, theoretically, I have plans to be at CES the day that this is due to come out. Now, I've got to be perfectly honest, if I had to guess, and I understand that I get to control most of the process here, so I'm not going to bet anybody, but if I had to bet myself, I would. I would guess that at this moment in time, which happens to be December 21st, I will not be going to CES. I think.

Yeah, I would kind of back that up, unfortunately.

Yeah. If things have just been developing too quickly in the past few days, you know, with regards to Covid and travel and all that stuff, that it's probably going to wind up being not worth my time.

Yeah, well, yeah, that's right. If more and more folks drop out. I mean, we went to the 49er game on Sunday and it was up until Saturday, we were like really going to cancel. Are they going to, you know what's going to happen? Because I know a couple teams canceled and shifted play a little bit. So it is going to be interesting, I think. Thankfully, this, this particular variant that seems to be flaring up is mild enough to where it's not going to.

I will caution you that, that we will have three weeks more of data when this comes out.

So I don't know anything about this new variant and I'm, I'm hoping, cautiously optimistic that we are, you know, we'll, we'll manage through it quickly and, you know, I just want to get back to business, man.

Yeah, man. Yeah.

I'm all about getting back to business.

Time will tell. So the other thing that time will tell, and with this one, it's about 40 minutes from this moment, so I can guarantee you this episode won't be any longer than about 35 minutes, because I have a meeting in 40 to close out the sale of a business. And at this point in time, the closing is almost a formality. I'm hesitant to say that it is because.

Congratulations.

Thank you. I'm not going to talk yet here. And this is my own superstition. I'm not going to share the name of the business or anything, but this is a deal that came together very quickly. I've talked on this show about selling, putting a business on the block. This is not that one. Believe it or not. That's a separate business. That's sort of an investment of mine, if you will. This one is something I would not have expected to sell. And yet I'm nearly certain that certainly by the time you hear this, it will be a done deal and it will be a public deal. It is not at this point in time, although no one will have access to this audio. But I'm still not going to say the name of the business. We'll talk about that in the following episode. Yeah, there we go. Yeah. But I do have. This process has been very interesting. A buyer approached us, and it went into my spam folder the first time. Three weeks later, the same buyer emailed me again and said, look, I'm really interested. Like, oh, wait. Oh, crap. Okay. And this happens from time to time when you have a business. Some. A buyer will just, you know, buyers will show up. And. And a lot of times it's. Most of the time it's the wrong fit. I would just say that out of the gate. And so I was very skeptical. And it was like, Q4, while this is happening, it's like, oh, okay, now I'm going to have to waste my time with somebody that's just kicking the tires. And you know this because I've been through it before. Obviously, this turned out to be quite a bit different. But it's a relatively simple transaction, and the buyer chose not to use an attorney, which is, like, on the surface, fine. I did choose to use an attorney. Yeah.

I think that's a good idea. Even in a limited form, Even if you're the mouthpiece and, you know, you're the one doing all the conversations. Even if you write the sale agreement.

Correct.

Have your attorney review it.

Yeah. And there were some things that were put in there that were. I would never have thought of, and that's really what it was about. And then also just having somebody to call. Like, I think this is how this is supposed to proceed. But, you know, you've done this way more than me once, you know, and I'm in the once sort of, you know, like, you know, am I. Am I reading this right? Am I doing this right? Yes. Yes. Okay. And then sometimes no, like, oh, okay, great. And I told my attorney when I first started talking with him, and it's a new attorney, and I'm Sure. I'll have lots to say about vetting out an attorney, too. This one came recommended via my accountant. The attorneys that I've used in the past that I would have used for a deal like this are all. They've evolved. They've either retired or become judges or things like that, and they're just not available for me. And so new attorney, but came with a good recommendation, and he is a good attorney. I need to debrief after this to decide if he will continue to be my attorney for other similar deals. We've got a slightly different approach to things. He did nothing wrong, per se, just kind of not. He. And my impatience did not mesh well, let's put it that way.

Yeah, I have that problem, too.

Yeah, I know. But, like, I also had an attorney tell me years ago, haste makes malpractice. And so, you know, there's some level of that that is the reason you have an attorney.

Yeah, that's right.

Yep. But I'm not convinced. There's some things that happened that I have not yet addressed, like, some delays that happened, and I want to talk through those to make sure that they were anomalies and not just part of his normal course of action. Because if they are part of his normal course of action, then I cannot work with him again. But if they were anomalies and it's the holidays and it's weird, and I get it. You know, maybe. However, this whole thing about doing a transaction with someone where one party is using an attorney and another is not, has been a friction point at several occasions, because there's things that me or my attorney have put into this deal that are new to the buyer, of course. Right. That's going to happen. And this buyer, because they don't have an attorney, didn't have their own person that they could go to for counsel. And there were a few times where it was like, oh, we're actually like, this deal might not happen because there's no one in the buyer's court to say, hey, this is okay. This is normal. This is how it goes. Or, this isn't normal. You shouldn't take this. But without that, there were a couple of moments where it was like, okay, I got to tread very carefully here, so as not to upset the deal, but also I want to make sure everybody's protected. And in fact, there were a few times where. Many times, in fact, where my attorney was like, well, normally the buyer's attorney would do this, but I'm going to do it. And to be perfectly frank, most of those I let happen, because that's a good attorney.

I think I agree, because you really do. I. I know you feel this way. You want to be a success, to be a successful purchase, and you want this person to be successful with your bit, your business that becomes theirs.

Absolutely.

Because that's. I think the sure sign of success is when you could look years ahead and see that they've done well, maybe even better than you, which is great.

No, that's. I hope that's the case.

Yes.

To be perfectly honest, so. So when my attorney started doing all that, it was like, fine. And then there were a few times where it was like, okay, you do it. But, like, how much of this am I paying for here? You know, like, it got to a point where it was like, man, I appreciate this. And. And in that sense, my attorney and I were in total lockstep of like, yeah, no, everybody should be protected here. But, like.

Like, somebody can only do so much.

I can only. How much are we going to do here? Right. Yeah. And. And there were a few times where he was like, well, normally the seller's attorney would make the decision or the buyer's attorney would make the decision about whether we do it this way or we do it that way. And I'm like, okay, well, but there is no buyer's attorney. I'm like, so we have to make the decision. And there were a few moments like that where it's like, I know this is not normally how it works, but that's how it's gonna work this time, and it's just gonna be how it is. And, you know, everything. Everything was fair. Everything was on the. You know, no one was trying to pull a fast one on either side. Everybody was very respectful. It was. You know, we are all focused on the success of this transaction in the future.

Is the takeaway then, that if you are beginning a negotiation and the other party does not have an attorney to recommend that they get one, or do you think you leave that alone?

I think you leave it alone. But I would have kept my attorney further out of this deal. I would have done what you said in the beginning of our conversation, which was, let them be my counsel, but maybe not even let the buyer know that I have an attorney.

Yeah, I've done that.

Yeah. And it's.

It's worked well. And, you know, especially if you are really looking out for the best interest, you know, nobody's trying to take the money and run. No, it doesn't. It doesn't work that way.

No, it never Would work that way. Yeah.

It doesn't work that way.

No.

And so I like that concept of, hey, let's work up, especially if it's a pretty straightforward purchase, if it's all cash type of thing. But you do need to have somebody look over the agreement, point out things that, hey, that's not going to work. Or you should add this.

Yeah, you should add this. My biggest mistake, and I think this was a mistake, was the buyer wanted to use escrow.com to handle the escrow of the funds and the deliverables and all that. Okay. And. And I said. I asked my attorney about that and. And he said, well, that's fine. And I said, what? You know, but escrow.com was going to charge me, like, almost 2% of the purchase price. Yeah. And I'm like, what do you charge me? He's like, well, it's, you know, nothing. Now, in the end, I actually think it was a lot more than nothing. But that was the part of the process that, as I said, my attorney and I had a mismatch on my impatience. His. It was at that point, because then whoever's acting as the escrow agent has to act in their own best interests first and. Right. Because they're on the hook. If they're grateful for that, if they give me the money and the buyer wasn't okay with that, that's a major problem. Right. So they have to look out for themselves first. And I think that's. In fact, I know that that's the only part of this where there was any friction between me and my attorney. And it almost caused friction with the buyer, too. So, you know, the buyer's money, in retrospect, that's my lesson, is I should have gone with the path they wanted to go with, as long as it wasn't a terrible path. And escrow.com is not a terrible path. You know, would have cost me a little bit, but. But, you know, it's your money. You pick where it's going to go. That whole thing. That's what I should have done. Yeah, yeah, yeah, yeah.

There's so much to this.

That's the thing is I didn't know. Like, I know now. Yeah, yeah.

There's a lot to it. And I think a big part of it is, you know, these. These kind of deals, they kind of have a shelf life, so you have to act quickly. Your comment, you know, time kills all deals.

It's sticky on my desk that says that I think I'm going to. I might take some of the proceeds from this sale and have it engraved on a plaque that sits on my desk.

There you go.

Yeah, that's good.

Because it does just this. You know, stuff happens and things change and other things pop up.

I mean, I could tell you stories. I'm not going to. Right. But this deal has been almost the epitome of that. The fact that it's actually about to close is in many ways miraculous.

Right. And when we sold Tech Restore, the buyer was in the closing process of closing on another business and just so happened to get introduced to me and. And said, hey, I'd rather buy your company. Is. Is it for sale? And I was like, well, not really, but let's talk. And so, because the other transaction took a long time, you know, they. They start. People start looking around, start talking to other people, getting other advice. So things do, you know, time is of the essence.

Yeah. Time is of the essence. Oh, yeah, man. For sure. I didn't realize that happened with Tech Restart. I'm glad to hear that because you and I missed out on selling our deals on the web business because the exact thing happened to us, and we were naive young. Yes, yes. But, like, that's what happened, is the deal was going to close, and then they got the company that was going to buy us, found a deal they liked better. Yeah. And so they just stopped ours and went the other direction. And that's just how it is.

So that's how it goes.

There are other directions, and I have. I will have more to share about this. Probably not all the stories that you want to hear, folks, but, you know, that's because I'm being respectful of our buyer, you know, and the process, it's like there were no problems during it. It's just, you know, time kills all deals. And I have lots of examples of that, which hopefully over the years, I'll be able to pepper in and kind of keep everybody know, anonymous for now. What I. We're going to talk a little bit about creating recurring revenue streams for your small business. And the next thing that we're going to do, if. If it's okay by you, Shannon, is I want to talk about our two sponsors for today.

Yeah. Let's pay the bills.

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Hey everyone, it's Adam Degrade from the David vs Goliath podcast, a brand new podcast dedicated to helping small business owners everywhere dominate and crush it in their market. On the David vs Goliath podcast, we interview the most successful, energetic and informative entrepreneurs in their respective space. There you can learn the secrets and the tips that they have used to grow and succeed in their market. David vs Goliath podcast is completely dedicated to helping you with your plans, your people, your technology, your process, and the courage it takes to slay that giant and win more business in your market. On the DVG podcast, you'll get inspiration, education and activation. I'm your host, Adam Degrade. Watch us on YouTube, Spotify rumble, or listen to us on any podcast application you can imagine. That's the David versus Goliath Podcast. We'll see you there.

That's a great show, man. So, yeah, go check it out. As Adam said, go find it wherever you listen to your podcast and I think you're gonna love it. So cool.

Awesome.

Yeah. All right, Shannon. We've both had businesses with creating recurring that have run on recurring revenue, I believe. And I, I'm a big of it. I, I, you know, mailbox money is the goal, right? Where you don't have to, don't have to do anything. You go to the mailbox, you pick up money. That's not necessarily how recurring revenue works in most businesses, but it is one form of it. Yeah, I think it's great.

And I think that every business, if you sit down and really think about it and you know, may take you some time, but there's opportunities to create recurring revenue in your company, your small business, whether it's a subscription based, a membership thing, you know, so I, I would love to talk about that today. Explore it and talk first, maybe talk about why it's such a benefit to, to your business.

Oh yeah, well, I mean, it's, it, you know, it, it's great to have money come in without you having to go and make a new sale.

Less expensive.

It's usually way less expensive. Sometimes recurring revenue comes with massive customer service costs. So you got to, you got to mitigate that. You know, you got to bake that in.

But, but typically keeping your existing customers and, and generating additional revenue from them. Absolutely going to be less expensive than acquiring a brand new customer.

Correct. But we're, we're talking about one step beyond that because this isn't just creating new sales with your existing customers. This is recurring revenue from your existing customers, which is. Or customer. Right? Yeah. Or new customers. Right.

They come in and, you know, the thing about it is it adds a level of stability and predictability.

Right.

You've got this piece of, you know, piece of your cash flow that you can count on on a monthly, quarterly, annually, bas. Annual basis. I mean, it, it, it's a, it's, it can be a game changer for you, you know, And I also. Yeah, and it's something that you can focus on that's scalable. If you have some success and you've tweaked a, came up with a program that, that works for you, you can then focus, okay, how do we grow this? How do we, you know, if we have 10% of our customers opting in for this service or this program, how do we grow it to 15, how do we get it to 20? And constantly focusing on that, it really goes a long way to increasing the lifetime value of your customer. And I think if you do it right, it increases your value to them. Right. Cause it's not just about how do we squeeze more money out. It's really, if you think about it, how can we add more value over time for this customer that they may not even know about, but we're going to package something together that will, will benefit both of us.

One thing I have loved about recurring revenue at Backbeat Media, years ago we decided to institute our auto renew campaigns, right? Where somebody comes on board. Normally they would come on board and buy, you know, Ads for, you know, three months or six months or something like that. Right. You know, it'd be some type of ad, some amount of sponsorship for, you know, on a compartmentalized, on a monthly basis. And then they would sign up for three months or six months. But the problem was, you know, on a three month campaign, you get them started so there's an opportunity for customer service there. Right. And you know, that's month one, month two is a great opportunity for customer service. But as month two begins to wrap, you gotta get on the sales bandwagon and renew them for month four. Right. And so it's not, you know, me like I'm a customer service maniac. I think every business is the customer service business. And I dislike when I'm put, when I have to put that on the back burner. Right. And so I would much rather our customer service be our sales process than like sales. Right. You know, and, and so by doing these auto renew campaigns, we're able to get people into the mode of we're just going to keep serving the campaign, giving you your results, tweaking it, you know, making sure it's succeeding for you. But we're never saying, oh, and do you want to renew? Like we're never having to ask for the sale again.

Is there an incentive for them to.

Absolutely.

Auto renew a front?

Yeah, we would always give them a deal. Sometimes we give them a, you know, buy three, get one kind of thing to, you know, to, to do that. And then we would. And then your buy three get one, you know, extends with your renew. So you get three months the fourth month, no charge. Three months, the fourth month, no charge. Something like that is pretty typical for us. And so, yeah, the customer gets something out of it. But then what they don't realize up front is how much they actually get out of it. Because now we're not pestering them to renew. They know they can cancel. You know, we don't necessarily show up every day and say, don't forget, you can cancel, you know, but, but it's all there. And we, we try. Not a friction point. Because we know that when someone chooses to cancel an auto renew, that's also a sales opportunity, that's a customer service opportunity. We can make that a difficult process or we can make it an easy process. And if we make it an easy process, then they're far more incentivized to come back. But if they feel like they had to make four different phone calls to extract themselves from this. Yeah, we all hate it. Right? Yeah, exactly. So we don't do that and we try to be really flexible about it. But that, that has that. I mean, there was a period of time where I think that was the, the thing that kept the business going. Especially, you know, we started that business before the, you know, the downturn in 2001 that, the online downturn when CPM rates cost, per thousand rates cost per mill rates went from, for web banners from about $12 cpm down to $1 cpm.

Wow, that's a big thing to survive.

Yeah, it is. And then thrive from it. But auto renew was a big part of that. And accepting credit cards, which I know today seems like table stakes back then it was not. For an online business to get approved to take credit cards was a feat back in 2000. So those two things were the key to surviving and then thriving. Yeah, it was great.

And so also, you know, I mean, that's such a, it's totally makes sense advertising thing. But you know, looking at, at other business concepts, you know, thinking about what you can. Because I can remember struggling with like even like a Tech Restore, like, okay, well how do I, you know, what can we offer to upsell? How do we get that extra, you know, revenue out of here and offers a real value and things that you may be missing. You know, if there, if there are consumables in your, you know, product mix that you're selling to people or consumables in the services that you're offering, those are great things to offer as a subscription or recurring, you know, membership type thing. And also then to bundle, hey, you're going to get this incentive. Members pay less. And also I think it's very important to talk about the service level. So maybe there's another level of service that you can offer with folks that sign up in, you know, for your membership program, your subscription program, maybe they get service a little faster. We used to let people cut in front of the line if you walked in, you know, once towards the end of my ownership at Tech Restore, when so much of the business was the phone business, nobody wanted to wait. So if you signed up for a program with us, you could basically skip to the front of the line and get service quicker. It worked out really well.

That's really. Yeah, that's great. Oh yeah, good.

And even just thinking of it differently, you know, I think reward programs are also recurring revenue. The whole, hey, you know, here's a, if you sell sandwiches, here's a punch card and when you get 10, we give you a free sandwich, right? You're planning on that, but maybe you can flip it upside down. Like we have a place here in town that my wife and I just went to and it's like, look, buy a $25 sandwich card and will you get a free sandwich right now? Which is I think a little better for your business because you get that money up front, you can track those sales. You've locked them in, you've given them the incentive right away. You just kind of have flipped it upside down.

Flip it upside down. Give them the free month up front. Sure, yep.

Get the free month up front. But they've paid up front as well.

Yeah. So it's, it's a trade off.

I think it's, it's really great. And then I think based on what your business is, to look at the content, can you create some kind of content? I mean if you're in the creative content business already, it's a no brainer to create membership groups. Maybe it's mastermind groups that you can get people involved in that want to learn. Maybe it's DIY groups where folks that want to support themselves or help each other build something with the products that you sell and you can get a. Hey, it's, you know, I read an article about companies selling adus. I don't know if you have those out there, Dave. Accessory dwelling units. Oh yeah, Little small. We had a, we had the gosh, I can't think of the name.

Yeah, we had somebody on that made those. That's right.

Not too long ago. And this company's like, well, how can we add this recurring revenue? And it turned out there was just a huge demand for people that wanted to learn about this process and not just buy everything but, or buy the whole, you know, thing built. So they started a YouTube channel, built up their following, started a mastermind group, started charging annual fee so folks would subscribe to learn all about the process whether they went with this company to buy the hardware or the entirely built adu. Either way, it was an entirely new revenue stream for them that, you know, this recurring was great. Yeah, they did really well with it. Yeah, I'm a big fan. Again, shelling, can you create a course like these folks? How can you put something together that, that folks can learn from about your business or about whatever it is you're creating or what you sell. And also, can you write a book? Right, you should write a book about whatever you're doing. If you're a small business owner, you should sit down and write something. It doesn't have to be Too crazy. We've done it here on the show. Put it up, self publish it. It becomes like your business card. It becomes more about your story, about what kind of company you've built and your culture. You can give it away to your customers and it'll generate recurring revenue for you as well.

I love it. Yeah. And of course, you should check out our mistakes book@businessshow.co mistakes.

That's right. Yeah, that's good. So a ton of other things, you know, warranties, very obvious. Selling extended warranties if you're, you know, you're buying something up front. I don't think you can buy software anymore without buying a subscription.

It seems like it's rare, man. It's rare.

Makes total sense for the business model.

No, I think software by subscription. Now that, and I say now that software is available for delivery online. Like, you don't have to buy a box. Nobody's having to build a box and ship it to you and all of that stuff. Software is just delivered electronically. There was a time, kids, ask your parents, you know, when that was not the case. And so it made perfect sense to sell a box of software because A, you. There was no other way to get it. And B, updates, bug fixes, those sorts of things were not nearly as common as they are now. Like, there were times where it was like, oh, crap, there's a bug in this. We now have to ship out new disks to all of our customers. Right. Nowadays that's not the case. You know, people can make little tweaks to the software and you get your updates. It's a normal thing. If you pick up your phone once a day and look at the app store, it'll tell you, oh yeah, there's, you know, 14 updates for your apps. That's not how it always was. But that's why subscriptions make sense. Because you want to. Me, as a, as a user of software, I want to support the ongoing development of that app if I'm using it every day. And I. So it makes sense. I know people. It's. It's not a pop. For many of us, adapting to that was a not easy process, but it is. I really think it's the best. The best plan. Yeah.

Yeah, I agree.

Really? Because you were not for it initially, so.

Well, no, it depends on the software. If it's something like Adobe Creative suite, and that's 50 bucks a month versus paying 5 or 600 bucks every time you needed to upgrade, sure. Totally makes sense. Office, you know, 99 bucks a year totally makes sense.

Yeah, use LibreOffice instead and just do it for free.

There you go.

I'll put a link in the show notes.

Yeah, please do. Yeah, little apps, little small apps that do a specific thing. Those I have a little bit tougher. I'd rather pay more up front. I wish there was an option like, hey, instead of five bucks a month or whatever it is, you know, pay this and you're done. And some, some places do that and I think it's good. But yeah, for the most part I'm, I'm on board now. I've just. I can't, can't hang out anymore.

Yeah, yeah, yeah, no, I get it. I went through the same process. Yeah, for sure.

And I think like if you talk to people, nobody likes waiting. So if you can think about a method to speed things up for your customers and offer another level. Like I kind of go back to this membership thing.

Amazon Prime.

Yeah, just this V now and then think about Prime. They started just as a shipping discount, but then expanded far into all kinds of other things, right? You know, video and music and books that you can get for free every month if you're a Prime member. So, you know, don't limit yourself. Start, you know, really think out of the box. And one of the things that to also remember is that you may have to partner with someone else, another company to create a bundle of things to offer. So maybe having a conversation with someone in your industry or outside your industry, say, hey, we want to offer this. Do you have something you could add to this and create some, you know, some, some bundle that you can, you know, sell to your customers. Think it's a great idea. The other thing is don't ignore fees that other companies will pay you for referrals or other types of things that you can send them with. Tech Restore, we had an agreement with a data recovery business that, I mean it, it just. With normal referrals that we would have done anyway, but because we were able to send them over, link them in through our, our link or give them our code, I mean it was a three or four thousand dollars a month, you know, mailbox money that would just show up and we wouldn't even know about it. So it was great. The last couple of things I wanted.

To mention, that's really smart. Yeah, yeah, yeah, yeah.

So don't. You don't. It doesn't have to be other ways, you know, if you know somebody else, hey, we're in the H Vac business, but you know what, this maintenance company does this and we can bundle this and let's create this whole house membership or you know, whatever.

You can sit here all day. Yeah, yeah.

And you can say, look, we've got these, we've partnered with these people and it's, and this is what you pay annually. Here's compared to what you would normally pay for. You know, I don't know if you've called a plumber lately, but it's very expensive for them to come out, especially in the middle of the night. And so, you know, creating that value and showing the value of this thing that you want them to buy is really important to where they just can't ignore it. Be like, you know, you're going to save so much, you're going to get this thing really important. But also you want to make it very easy for them to sign up. I mean one checkbox or one very brief little form, the longer it takes them to sign up, the more option they're going to have. Just like, eh, maybe I don't want this. You can follow up after they've committed to get more information about their product they need help with or their house or whatever it is. You can get that data after. But you want to get them into the membership program, the subscription, the recurring revenue, show them why it's such a great value and then follow up with, okay, now that you've did this, we're going to set you, get you set up. You'll be more successful in that. So it's just that there's got to be a way in every single business that you can do this and don't limit yourself just to your own products and services. Think well beyond that, what you can do.

Yeah. Now the partnership idea, that's, yeah, I like this because you're creating, you know, it's the sum of the parts kind of thing.

It is, that's right. And so again, and even just using the simple thing, it's like, hey, everybody wants to, to be a vip. Everybody wants priority service and nobody likes making a phone call and oh, we're going to call you back in 24 hours. No, no, this, this you get a unique phone number that you call and bam, we, you know, we get a human to you within, you know, 15 minutes or whatever it is. Think about that, you know, treating those folks as a little higher level that for their membership it can really pay off.

I like it, I like it.

So share with us how you're coming up with recurring revenue, subscription models, feedbackusinessshow co or go to businessshow Co, Facebook come to the small business Mastermind group up there and share your stories and get some feedback.

I like it. Yeah, man. Yeah. Feedbackusinessshow.co we'd love to hear from you. It really helps guide us in creating, creating the show about the things you want it to be about. So let us know feedbackrisnestow.com and go get LibreOffice. Like, seriously, I've been using that for five years now. I haven't paid for office. It is a 100% Office clone. It's based on open office and I use it for everything. I used it for all the documents that I had to do for this deal that I was talking about at the beginning that I got to go and go finalize.

Put it to bed.

Two minutes. Yeah, that's right. Yeah, yeah, yeah. All right, folks, thanks for hanging out with us. Thanks for checking out our sponsors, Bambi.com small and then of course, go find the David versus Goliath podcast on your podcast. Listener of choice, listening app of choice. Hey, keep living that charm life, will you? Later.