Funding Inventory: How Outside Capital Can Accelerate Your Business w/ Ricardo Pero #TheOnePercent

If you are just tying up your capital to buy additional inventory, relying on the marketplace to get your product out of door, that's not the best way that you can maximize your return. Right?

It takes one free person to create change. This is the show for them. We are the creators of the Free world. This is capitalism.com and we are the 1%.

Hey, everybody, this is Ryan. Welcome to the show. And on today's episode, we're gonna be talking about using other people's money to fund your business, specifically an online business or an E commerce business. Now, this is one of the biggest mistakes that I see a lot of Internet business owners make, especially physical product sellers and Amazon sellers, because they have this misunderstanding that that they have to use their own money to grow the business specifically to fund their own inventory. It's a really, really big mistake that as soon as you see the other side, you totally get how to grow your business faster. For example, we have a backroom member. His name is Travis. He's been on the podcast before and he's maybe the best Amazon seller in the world. But if you ask him what his secret is, he doesn't say that it is some weird thing behind the scene. He says that it's having a great product, getting great reviews, and having access to capital so that you can grow as fast as possible. So what most people will do is they'll put $50,000 into an inventory order and now all their money is tied up in inventory and they're stressed about it. How are you going to operate your business that way when you're super stressed about the money of your product, the money tied up in your product. So a better way, in my opinion and the way that I have done this, is to then use other people's money to fund the inventory. So you've got that $50,000 to put into advertising people systems, the things that are going to grow the business, give you more freedom mentally and freedom of your schedule and the ability to run your business like a business. A couple years ago I had the idea of, well, what if we@capitalism.com just set up a bank and we lended out money to fund people's inventory? And I talked about that and thought about it for a while. In fact, when I would draw out my vision, I had it on there. But one of my backroom members named Ricardo Perro beat me to it. And he has set up a bank, essentially, can I legally call it a bank? He set up a business that lends money to e commerce business owners and he has done it in a really unique way. So I asked them to come on the show to talk about both the challenges that people run into when they're funding their own inventory and how they do that. And they're called sellers funding. You can find them@capitalism.com sellersfunding and throughout this episode, we're gonna be talking a little bit about ways you should be deploying capital in your business, how to use other people's money to grow your business, and why that gives you and leverage against your competitors. Because when you do this, a lot of times you have the freedom and flexibility to really outgrow everybody else. So if you sell anything on the Internet, this is a game changer for you. So enjoy this episode.

Hey, a quick note for you Amazon sellers and brands who want to be on Amazon and haven't made it a priority yet. I am often asked about changes with reviews or changes with Amazon terms of service or changes with what's working with ranking and all of that kind of jazz. And I'm proud that I have partnered with one of our backroom members. His name is Jeff. He runs an agency that specializes specifically in optimizing your Amazon presence. So if you're a brand that is neglecting Amazon and you've heard me talking about it and you're like, we know we gotta get this together, or if you're an Amazon seller and you know you need to turn your attention to audience building and funnels and the stuff that is really gonna grow your company, I would recommend that you give a quick shout to my boy Jeff at Turnkey Product management. They're@TurnKeyProductManagement.com and as I said, they're in the back room. They work with my team and the rest of the big companies and equity groups that are involved in our little circle, and they're usually ahead of everybody else in terms of what's working, what's compliant, what review strategies are cool and kosher and are actually effective. And they're not out there hawking a bunch of info products. They're out there actually doing it. So they're an implementation agency that just handles it for people. And they run their own businesses, some of which they have built and sold, kind of like yours truly. So I feel really good about partnering with them and recommending the big companies and the brands that I work with to outsource their Amazon management over to Jeff and his team. So if you're looking to add some automation into your arsenal, I would recommend the good folks@TurnKeyProductManagement.com and Jeff and I are on speed dial with each other and are collaborating on what's working. So you're always getting what's the latest and greatest in the Amazon world. So contact those guys if you're looking to outsource, automate and optimize your Amazon presence@TurnkeyProductManagement.com.

Hey everybody, welcome back to the show. Ricardo Perro is with us today. What's up, Ricardo? Good to chat with you.

Hey Ryan, good to chat with you too.

So I wanted to have you on because I had an idea for a business a couple of years ago and it was to essentially set up a bank and to fund other people's businesses because I wanted more deal flow into seeing what types of businesses I might want to invest in long term. And I thought that would be a good deal source for that. And lo and behold, Ricardo goes and does it and then we meet a couple years later. So tell me why you stole my idea, Ricardo.

Actually, I used to work for a bank, so it was easier to take that idea and adapt to the E commerce business. Right. So in E commerce you see a lot of great companies being born. You have a lot of growth embedded into the field. Amazon and other marketplaces, they are helping these companies to prosper. And what I saw during this process is, as you know, retailers, they are eager to grow, they have a lot of demand for capital. And working with us, I saw this natural fit. And when I look at some banks and the way that they deal with this industry, it's amazing how, how inefficient they are in evaluating these companies.

You mean traditional banks, right?

Yes, traditional banks, they rely a lot on traditional credit models and that limits their ability to effectively build a risk assessment and evaluate risk for the sellers.

Yeah, So I want to ask you about that, but I know your background is in the investment banking world, so you look at businesses from an ROI perspective, which is different than how a lot of entrepreneurs view their businesses. So I know that's given you a unique view into how this E commerce Amazon online business world works. And I was hoping you could speak to what you observe when you look at it through the investment banking lens.

Yeah, sure. So when you look at the way traditional.

Business owners look at the way to leverage their growth, they usually rely a lot on their own resources. They tend to be a little.

Let'S put this way, conservative in the way that they borrow to grow.

Meaning a lot of entrepreneurs fund their own businesses and from the outside world that would be viewed as overly conservative.

Yes, yes. And they don't have this mindset of ROI in place. So when you look at the way.

You have your return or your margins from the marketplace, you usually take a look at the cost of goods sold. You take a look at your budget to advertise on Amazon, and there are great companies that will help you with that. And usually you don't look much about what's the opportunity cost to optimize your return. Right, right. So why not? If you break down all your costs, you're going to see that your cost of goods sold usually.

Is.

About 20% of your purchase. If your overall cost.

When you optimize that and you borrow money from that, you're going to be leveraging your return. Because the overall inventory management.

Relies a lot on cyclicality, your ability to source products and your ability to keep up with your purchase orders for the high selling products you have.

So the way that I would say this is in a lot of cases, if you're going to spend $50,000 on an inventory purchase, that's $50,000 that you can't put into advertising, you can't put into people, that you can't put into systems, you can't put into new product development. And if you fund that, you might pay $5,000 in interest, but you're still going to get the same money when you sell the product. So your return is much higher and you freed up $45,000 worth of dry powder that you can put into other areas that are going to grow the business. Is that what you're saying?

That's exactly what I'm saying. Not only existing products, but you can also divert your resources to.

Product development and sourcing new lines of business for your business.

It's a ripple effect on how you can grow.

Right. If you think about most business owners, they started their physical product brand with like $5,000 of a purchase order, and now that One product does 30, 50, $100,000 a month in sales. And so that's a, that's a, you know, a business changer if you can trade $5,000 for $50,000 a month. So why would you tie up 50 or $100,000 into inventory when there are banks and lending sources that are willing to do that? That's how I've always looked at it.

Yeah.

Anyway, just to add to it, I've also thought there's also an ROI to being able to take money off the table so you can make better decisions. So many entrepreneurs will bootstrap and steamroll everything into it and just freak out that everything's going to go away. If you then use debt to predictably fund your inventory and you just paid yourself, sometimes that just makes the business more enjoyable for you to run. I know that doesn't. That might not factor into the investment banking world, but from the people side of things, entrepreneurs can be emotional and reactive until they're finally paying themselves. And that there is an ROI to you being able to relax a bit and build the business like a business rather than having all of your capital tied up in that asset.

Following that mindset, we've been developing some tools to help our clients to make better decisions. So when we take into consideration our sales prediction model, we usually look into cyclicality. We look at your sales performance and we exchange that information to our clients. So by providing that information, they know when they need to be ready to make a purchase order, when.

They will have the information of how much they will be able to borrow from us and what's the impact on their cash flow. For that reason.

Would you talk a little bit about why you went in this direction coming from the investment banking world? Because I know you saw a lot of the growth that was happening, particularly with Amazon sellers, and you diverted your career to focus on that. So explain to me why.

So I built my career on investment management and at some point I figure okay, where can I take all the experience that I have and learn something new? If you look at across industries you have a number of.

Applications that you can use. But in this case E commerce has an abundance of data that can be used for.

Investment, let's say evaluation.

That was a natural feat for me because with data we can build a lot of.

Well based investment decisions. That's how I thought about the entire process of funding. And there were two ways that we could build this. One way was just providing and partnering with sellers and providing support for their working capital needs. And the other way would be making investments in brands. And we thought about that and we thought about and my decision to move to the credit side was that we, we could approach and work with many more clients, many more sellers than just building having the VC mindset, meaning you.

Were thinking about just going in and investing in brands like I do and instead you went the direction of just being the capital source for those businesses growth.

Yes.

And was there something that caught your attention about the E Commerce world in particular that made you decide to go in that direction versus all the other ways that you could have gone with your investment banking career?

So one thing is the differentiation between E commerce and brick and mortar retailers. There is this huge shift, it's a circular shift that is being impacted by the way these companies are doing business and the way marketplaces are allowing small businesses to prosper in this environment. So I believe that even though, and there's a lot of talk as you know, about potential recession in the next few months or a couple of years, but I still believe that this E commerce sellers, they have this secular shift that is being impacted by consumer behavior that will protect them and they will outperform brick and mortar retailers.

Agreed.

By far.

In fact, if I remember correctly, in 2007 and 8, E commerce was the only sector that continued to grow through the recession, which is just mind boggling and we're still only maybe halfway for its full maturity. So I think you're right.

And if you look at what's the percentage of E commerce in the US compared to other countries like the UK still almost half of like you said, we have a way of this revolution and I think there is a lot of room for the US to, to grow.

So from a business standpoint, you were looking at, I didn't know this about you, Ricardo. You were looking at where's the greatest return. And you're saying there's not a lot. If there is a recession, there's not a lot of good places to be parking money except in E commerce brands. They're the most recession proof business that will probably continue to grow for the next few years. Am I hearing you right?

That's right.

That's really interesting.

If you're getting the winners. And I believe that if you look at our portfolio in general, we have companies that are outgrowing the average.

Competitor on Amazon and we are just the tip of the iceberg of what we can do there.

Yes. So I know that. What I know about what you do at this point is that you provide that capital for inventory management in a way that is affordable, flexible and easy for Amazon sellers to use. So tell me a little bit about the problem that you're trying to solve by what you're doing.

So most of these clients, most of our clients and most of the audience here, they face the similar, a similar problem. They have a gap cash flow gap that needs to be addressed. So the moment that they have their purchase order till the moment that they receive those products and the products are available for sale, there is this gap. And if you're sourcing your products from abroad, it can take up to 100 days from sourcing to sale.

Yeah. Meaning you put out 25 grand, you're waiting a long time to get that money back.

Yeah, yeah.

It's frustrating as heck.

And, and then what we built was a product that sometimes, most of the times we offer our clients an interest only period or a grace period, depending on how are they performing with us. But during that time, their cash flow, their disbursements is minimum. And that gives them time to perform, to source those products and to have the cash available.

To amortize their commitments with us.

So you've got an interest only period when somebody has placed an inventory purchase so they're keeping as much money as possible in their control and then as they start to make sales, theoretically the payments on the loan would come out of profit.

That's correct.

Yeah. Beautiful. Which is exactly what I have been preaching for years. And yet there's still this mindset of what you mentioned, what you called over conservatism, specifically with online brands, of kind of a fear of loss, a fear of a fear of all of that. But as I understand it, what you guys do is actually, it's not even personally guaranteed. So the risk is tied up in the inventory, is that right?

So for term loans we ask for a personal guarantee, but for the revenue advance and revenue advance is the, is that the product that we have that takes into consideration your forecast sales. There is no personal guarantee, only the receivables are.

Get back in that line.

Yeah, that is beautiful. Ricardo.

I had a huge braingasm when you were talking about how the reason you went in this direction was because E commerce businesses and brands are going to essentially be recession proof. That's just so cool. It's so cool. But I'm curious what you're looking for as you're evaluating or as the AI or however you make the decisions over at sellers, funding of who gets capital and who doesn't, what determines that?

So.

I'll give you what we look that is different from what banks look. And of course we will take into consideration some business metrics, cash flow metrics like margins.

What'S the structure, costs, what's the inventory level that our clients have? This is also taken into consideration, but on the side and on top of that, and I'd say the pre qualification model only runs out of qualitative metrics that come from the marketplace and from your store. We are talking about business review or customers reviews, store feedback, account health.

So that's more important to us because that's a reflection of your commitment to your customers and a leading indicator of your performance in the future.

So.

The AI or the algorithm, or forgive my technical mumbo jumbo, will actually factor in reviews and customer feedback into whether or not a business is credit worthy, Is that what you're saying?

That's what we work with.

That's amazing. How the heck does it know?

And that's kind of.

Easy to. When you think about. It's so easy to.

Have that line of thought because if your customers are not satisfied with your product or with your service, that's a lead indicator that you won't be in business for long.

Right.

And for me was. And that's the beauty of what marketplaces bring to us, because it's transparent. If you have a good customer review, and you know that better than most people I know, you're gonna be in the front page in the first page, competing with a big brand. You don't need to be big, you just need to be efficient and have a good product.

Yeah, yeah, that's beautiful. Because that's something that an SBA form can't factor in. It's something that a bank can't do, at least quickly. And even Amazon Lending is not going to factor that in. They only factor in sales velocity and time. So that simply makes sense. I've just never seen somebody factor it that way. So if you look at most of the funding sources like going to a bank or sba, you're looking at several months to up to six or sometimes longer months of getting funding. Amazon Lending is cool because it's basically instantaneous, but you have to have a year's track record. So what is your take on how you manage all of that in terms of speed, in terms of liquidity? What is your approach?

So it takes us about six months. We need six months of track record of history. Okay, yes. We don't need a year. Usually once the application. The application takes about five minutes to be completed.

We ask for some personal information, some business information.

From the owner. Then we, we have an API link to Amazon and one to Experian. Experian provides us some basic data about the business.

We combine that with the information that is provided by our customer. We integrate that into the model. We usually have already a pre qualification model that has about 3 million sellers already in the database.

And the outcome is there in about minutes. Sometimes it takes, depending how long is the track record and the data that we get from the marketplace, it takes a little longer, but usually within an hour we have the outcome for our analysis within the day, we go back to the seller, to the applicant.

Providing the final information about the terms the seller was approved. If the seller accepts the term, usually the disbursement happens in about 48 hours.

That's beautiful, Ricardo.

That's beautiful. I wish this was available to me when, you know, I kind of popularized the idea that I turned $600 into 16 million. And one of my regrets was that I didn't put in more than 600 bucks.

And I didn't go harder and that I didn't go as aggressively as I could have gone because I was playing too small. So the fact that you can do that with six months of history and have capital in 48 hours is a total game changer. I'm just curious from my curiosity brain, where does the funding come from? Cause it's not like it's coming from a mysterious person behind the curtain. Where does it come from?

No. No, it doesn't. So we have a number of institutional lenders backing us these days. We started with the founding partners Money two years ago. Eventually we grew, we grew into a number of investors that I knew from my JP Morgan times and from other banks that I worked with. And nowadays we have about four institutional lenders backing us. We have a new pilot happening in the uk so probably soon we'll be able to offer that in the UK as well for UK based sellers. So things are growing extremely well. I'm happy with the way the portfolio is growing and how our capital base is growing being backed by these investors.

What's the biggest loan that sellers funding has made up to this point?

I would say.

We have.

A number of initiatives in the way that we are trying to.

Work with our clients.

And we've been hearing a lot.

And we learn every day from our clients what are the pain points. And I would say that a lot of our clients, they are looking for ways to expand either beyond Amazon and sometimes expanding their sales internationally. So we are working to build the infrastructure to analyze sales with Shopify. We are consolidating now sales prediction across all major Amazon marketplaces.

And we are working with a number of clients now that have sales abroad and we are able to integrate their sales across different marketplaces outside the US into a single sale forecast sales forecast model. And we are advancing.

Cash for them in dollars, in euros, in pounds and Canadian dollars at this point.

Beautiful. So I'm hearing you say that you're basically working on being a potential capital source for more than just Amazon us, but basically as a business funding source and just for people who want to build these types of brands. What I was asking though is what's the best, biggest. Can you disclose what the biggest check you've written to an E Commerce seller is?

We have a number of customers with 500,000.

We have and that's pretty much the cap that we have now imposed by some of the lenders considering the size of our capital base, our portfolio base. And naturally this will grow and probably will be able to write.

A million dollar check in 12 months or so.

Yeah, that's great. So just so listeners understand when obviously not everybody's getting half a million dollar credit, but assuming they do, like if you maxed it out, what do the terms end up looking like? Are they paying that back over 12 months? Are they rolling the sales back in to pay that off early? What is the structure of the debt usually look like?

So for these guys, the bigger, the bigger sellers, they usually get 12 months on a term loan.

Usually we offer the average interest only period is about 60 days and then we match the amortized amortization schedule with the marketplace payment cycle.

So theoretically, Ricardo, does that mean that someone could.

Take a half a million dollar loan, then buy their inventory and while it's sitting on a boat somewhere in the ocean, they're paying interest only if they sell through that in 30 to 60 days, which I mean most people are selling through their inventory in 90 day ish cycles. Does that mean that they can use all the capital and pay that off and just have paid the interest of the first few months and then go do it again and again and again?

Yes, and the beauty of the model we have is that it takes into consideration cyclicality. So let's say you take a nine month loan. Now we are, you know, April.

We have a rule here that once you paid off 50% of the outstanding transaction, the initial transaction, you're eligible to apply for a new one.

If you are preparing yourself for the holiday sale.

During the end of the year, you'll be able to apply now create your track record with us, comes July, August, you are actually ordering goods for the holiday season. You need to increase your inventory for the holiday season. You'll be able to reapply, get a new loan, a higher loan because the model will take into consideration seasonality.

And take another 60 days of interest only period and start paying us back in October, November, when you start receiving money.

From your holidays, once the increase in sales kicks in, you can start paying that back is what you're saying.

Yes.

That's beautiful.

Hot damn, dude. I'm a little upset because when I was kicking around doing Something similar.

It wasn't this cool.

So explain to me a little bit about the play that you're doing at sellers funding. I mean from a business structure standpoint, what are you hoping to accomplish?

So we are. If you think about direct lending platforms across the US or Lending Club. Yeah. You have Cabbage Lending Club on deck in Europe. You have a number of players.

They are.

Focusing on small business lending. There is no one specialized in E commerce. You have some players that they started there but they outgrown and they decided to move and have multibillion dollar portfolios. I'd rather have.

A billion dollars portfolio performing and knowing that I know this extremely well.

Working with this industry.

Instead of having or shifting my focus away from what we are doing and what we are doing well.

So my ultimate goal is to become the leader in E commerce lending. That's it. I don't want to. I'm not looking to grow and finance the bakery across the street.

Well, I mean if you think about like Lending Club for example, since you mentioned other other similar lending platforms, they have a max of like 30 or $40,000 and a bunch of those are charged off because they're lending to bakeries and that kind of stuff. So in theory, if you're able to write bigger checks because you specialize in one area.

Lending Club is a publicly traded multi billion dollar company. You solving this solution for this group of people could end up being a multi billion dollar play if you build what you say you're building.

Yeah.

And I'd rather grow.

And diversify geographically and across different E commerce platforms but keep the E commerce focused.

And not necessarily as you well know.

There are big companies that are privately held, not necessarily they need to go public.

I believe that is a play that our shareholders will be happy if we keep.

The profitability that we have these days.

Yeah, that's beautiful. Well Ricardo, explain to me who.

Is a fit for this type of structure. I know you need six months of history. If your reviews and your sales are solid, there's more upside for you in terms of what you can borrow. And right now I know you're specific to Amazon US but that's going to be changing. What other criteria should people be thinking about before they decide to work with sellers, funding or not?

So we have a wide range of clients. Not necessarily. They are well established white label own brand selling products. We have some smaller sellers that are starting their business and we are supporting this initiative.

But like you said, you got to have good reviews, you got to have the right mindset to Invest in this business.

And be committed to the business. That's even more important than having the, you know, the size to do so and take a $500 loan. So we are more. We are here for the long run. We are here to partner with our clients. It's a, it's a growing base, client, client base. And we are as you, as you can see, and I can share with you.

Some data, but our clients are outpacing the growth of their peers big time in the marketplace.

I mean, that would just make sense because most people, again, I feel like a broken record when I say this, but, but, but most physical product sellers come into the game with just bootstrapping, thinking about their own money as the only resource. And, and they're not really building the business like a business, and they're building it as a way to make their bank account bigger or smaller. And the, the weird catch 22 is if you build it like a business, your bank account gets bigger over time. And it just makes no sense to use your own cash flow, your own capital to fund your own inventory when that can be predicted and then automated through other people's money and free up your capital to go launch product number two or three. So I'm working with a new client, super stoked about this new client. And this client has all of their capital tied up in three variations of the same product. And they were about to release a fourth variation, but it would have made them majorly cash strapped. And I was like, why are you guys using your own money to roll out additional variations of a product when you could free that up with debt and take the. Even if you saved $10,000 of dry powder, you can launch product number two. That can double the overall profitability of the business. It was just this tweak in mindset that is probably going to make the millions of dollars over the next couple of years. Forgive me, I'm on my soapbox, but I see so many entrepreneurs that get stuck by their own cash restraints because they're not thinking about their business like a business. They're thinking about it like, this is my money versus somebody else's money. And they're operating with fear. And it just doesn't need to be that way. So of course people would grow faster if they're thinking about it that way.

Yeah. And when you look at a lot of.

The content that you create when you have your, your conferences, you talk a lot about diversifying your business, advertising, creating or building a customer list. Those are things that require capital and time and if you are just tying up your capital to buy additional inventory, relying on the marketplace to get your product.

Out of door, that's not the best way that you can maximize your return. Right?

Amen. So you're saying if all your investments are tied up in inventory, you have no more investments to go buy traffic, to build an audience, or to hire the person that is going to run Instagram for you.

So funny you should say that, Ricardo, because I'm working with a business right now that really wants to be investing in advertising. Because we talk about some of the greatest opportunities right now for advertising are in manychat and Instagram Swipe up ads and podcast sponsorships, and there's just great white space right now. But a lot of the people, even our peers in the back room, are saying, yeah, but all my money's tied up in inventory. I'm like, well, get it the hell out of there.

I know you need to sell product, so go use debt to fund that so that you can go buy the Instagram Swipe up ads so that you can go sponsor the podcast that is actually going to grow the business. And if you do that, you beat all of your competitors. But if you keep all your capital tied up in inventory, you're done. Our mutual friend Travis, we call him the world's greatest Amazon seller, paces like $3 million a month or something like that. It might be higher at this point. If you ask him the secret to his success, he's like, first of all, product quality, which creates good reviews, obviously. But number two, it's speed, which came as the result of having access to debt. And everybody else is trying to figure out the slow lane. And he's doing $50 million a year just on Amazon alone because he had good access to debt. And I don't even think it was the terms that all of you have. I'm so fired up about this because I think so many entrepreneurs miss this little tweak that if they were to do, they would just grow so much faster.

Yeah, that's why we are here.

Yeah, exactly. Well, Ricardo, I'm so jazzed for what you're bringing to the world. I'm proud to have you in the back room. I'm really excited to.

Be working with you. If you ever need a board advisor, give me a call. I just so believe in what y' all are doing. So thanks for bringing this to the world, buddy.

Thank you. Thank you for having me here.

If you are using your own capital to fund all the growth of your business, you are playing a Little bit tied. Your hands are a little bit tied. You don't have the flexibility to invest in the things that we talk about here on the show, the things that you know you should be doing in your business. It's kind of this hamster wheel where you are caught just reinvesting more and more back into inventory. Now that made sense back in 2013, 14, 15, when this was a new world. It doesn't make sense anymore. Amazon, lending, sellers, funding, or even SBA loans are all now flexible to work with Internet business owners. And they all have done it in the past. It's just a matter of what terms work for you and how much you need. So I'm really jazzed that one of our backdoor members, Ricardo, is looking to specialize specifically for e commerce business owners. And I thought it was really cool how he talked about basically being the peer to peer platform or the lending club specifically for E commerce owners because that really is a billion dollar potential. So it just goes to show you, if you do something really well, that's how you change the world and get rich in the process. If you sell on Amazon or you're an E commerce seller, I would highly encourage you to give sellers funding a look. You can go to capitalism.comsellersfunding and just look at their terms. They're favorable, they're flexible, and I'm actually having conversations with Ricardo about using them in some really cool strategic ways for some new initiatives that we're starting. And if those take form, take shape, then we'll be documenting them here on the podcast. So I'd encourage you to check them out@capitalism.com sellersfunding and as always, I believe that capitalists are the people who create change in the world and you need to be liberated to go lead that charge for your family, for your community and your company. Keep on changing the world and we'll see you on the next episode.

There are two kinds of people in this world. There are members and non members. If you are enjoying this stuff, you have got to join us inside the 1%. 1% members get access to our courses on building businesses and investing the profits. They get access to experts who are bringing in lessons on a regular basis, some of the best in the world. And they're joining regular calls with myself or members of my team to keep the community growing. The 1% is a community of entrepreneurs who are actively building businesses and investing the profits. And every month you get a community newsletter to see what's going on in your community and what the opportunities are to create the change that you want to see in your world. Join us at capitalism.com the number one that's capitalism.com one.