The Agency Revenue Model That Changed Everything For Me
In this presentation, James Blackwell teaches recruitment agency founders how to transform their businesses into high‑margin, AI‑assisted machines that generate liquid wealth. He begins by setting a clear financial target – becoming a "liquid millionaire" with at least £1‑3 million in cash – and argues that most agency owners are stuck in a recruiter‑mindset that caps growth. Blackwell outlines three scalable business models: (1) an AI‑enabled solopreneur, (2) a small boutique agency with a remote team, and (3) a 7‑figure AI‑assisted agency. He explains why shifting from billing‑by‑hour to building an asset that earns while you sleep is essential, and introduces the talent‑partner retainer model as a predictable, recurring‑revenue stream. Throughout, he stresses the importance of leveraging AI tools (Claude, cloud platforms) and low‑cost offshore assistants to achieve 50‑70 % profit margins while reducing the founder’s delivery hours. He shares his own case studies – scaling Ronald James, Agency Blueprint, and Remote Assistance to multi‑million‑pound revenues with under‑30 staff and under‑10 hours/week of personal delivery – to illustrate the roadmap. The talk concludes with a 90‑day action plan, wealth‑conversion strategies (compounding cash reserves), hiring guidelines, and a call to adopt a high‑leverage, systems‑first mindset in order to hit the 7‑figure target within five years.
Chapters
So the plan is to use AI and leverage to turn your agency into a machine that makes you a liquid millionaire. So the number one goal for all of you in this room, I want you to create a millionaire status. Like, we definitely started our business to be financially free. To be financially free, it has to be at least 1, 2, 3 million and above. Okay. Like, there's, there's no point running a business unless it's going to create that 7-figure net worth for all of you. So obviously this day really is— I want you to think about where the leak is in your business right now. So we need to know where you are right now, what is really blocking you and the one bottleneck that you want to go away and try and fix in the business. Okay. The majority of it is mindset that's holding you back. It's not normally systems, but day 2 is where we're going to build that machine. So like, and obviously the backend of today is the AI, the team, a second income stream in your business, maybe a different revenue model, and then how you turn your profit into wealth. So the goal here is, like I said, with the workbook is to get a plan action. So then you've got a 90-day roadmap of what you actually need to implement in your business. Okay. So that's what we're going to be covering off now. I mean, my experience with that, I started my first agency, Ronald James, which is still going to this day. Dan, my brother, business partner, runs that day to day. I started out with a £10,000 credit card, no safety net, scaled Ronald James to £1.5 million a year. We got all the way up to like just under 20 heads, scaled it down to like roundabout 11, 12 where it sits now. And I never teach anything to go beyond that in a recruitment agency, just because I, the chances of you succeeding above that is very, very slim for lower profits. And the chance to actually sell a business like that is very tough, okay? So 99% of recruitment agencies don't sell the way that you would. So obviously your goal right now is to get a high net worth profit business that is going to be a cash cow for you, okay? If you get it in an opportunity where it's a good system in your business and you can sell it, brilliant., but the goal first is to create cash flow for you and your family and to get more freedom. So where I am now with my companies, Ronald James, the Agency Blueprint, Remote Assistance AI, they're all 3 7-figure companies that I started from scratch, and I don't work in those companies day to day. I still work in the businesses, but like not in them, I'm working on them. So I don't do much delivery apart from these days and some of the Q&As. So scaled out to round about £8 million a year we do this year with over 50% profit margins. So, and did all of that with 3 companies under 30 staff. So the majority of them are all 10 to 12 in each of the 3 companies. And I did that with under 10 hours a week in delivery in terms of fulfillment of like what I actually deliver. So I'm always thinking about how can I scale this highly lean, highly profitable without too much of me. Involved, okay? And my goal over the next couple of days is trying to give some of that mindset and skill set to you. Like, you're all individuals, you all want to build sort of different businesses, but the ultimate goal is always going to be the same, and that's for you all to be millionaires. And the lesson here is there is always a way to get more leverage and reach the next level. That is a real skill. I don't want to keep stuck in this cycle of usually 20K, 30K months on average. As an agency. So the shift today is from elite recruiter to true owner. So a lot of you are good recruiters or great recruiters, like very good at billing. Not many of you are true business owners. So like when I built my business, the first business, Ronald James, from day one I was like, I was a very good recruiter. I was a top-biller recruiter at Nigel Frank International, so one of the top 3 in the world with them. And there was like runaround, I think back then we had 300, 400 staff. But I needed to become a CEO. I wanted to be a real business. And to have a business, it has to be not dependent on you doing all of the work. And so you would need to get away from the mindset of like, well, I do everything best myself as a recruiter. Well, it's not a business, okay? So it's great to have a 2, 3, 400K a year business. There's nothing wrong with that because obviously today we'll pick our business model that we want to create. Obviously there's 3 different business models. You could still be a solopreneur with AI, a couple of remote assistants, and build a high cash-flowing business. But it just depends what holds you back is not thinking like a business owner. Has anyone heard of Naval Ravikant or read his book? Yeah, so I recommend you read that. Naval's a great guy. Studied him for many years and I have a similar ethos to him in terms of like he's all about systems-led thinking. Leverage. His standard day is very similar to mine. I don't like having meetings before 12 o'clock, for example. I have free, free thinking time. But he talks about you are not going to get rich renting out your time. You must own equity to be free. So the biller's ceiling here, if you've been a recruiter, the better you got at closing personally, the more the business came dependent on you. Now, being the best biller gives you a great feeling. You get a buzz of doing the deal, closing the offer. You've got personal closing power. The income depends on you. Now that hidden cost, while it becomes your ceiling because every pound is billed by you, you've got no leverage. You've got no exit opportunity. So, you need to make sure that you're not proud of doing everything yourself. So, there's a big difference between doing, let's say if you want to do a million plus a year in your agency. So, our agencies do over a million a year, but I don't do any billings, okay? You might be able to do a million a year, but if you're doing all of the billings, it's a totally different agency. Because it's like, you can't take holidays, you can't take time off, you've got no leverage. So you need to think more like a business owner. And the goal with the business is to build an asset, not an income. This is the whole game. An income stream dies the second you step away. So an income stream is like, it pays you while you work, and it dies the second you step away from it. So when you're doing, holidays, time off, and all of those type of things, the billing stopped. An asset pays you whether you are in the room or not, and it keeps paying you even when you step away. So how we want to think now is more like an asset owner, not this top recruiter, because if you want to bill more, you're going to have to work harder, because if you're just the one doing the recruitment all of the time, you have a high-paying job. As we all know, we're trading time for money, and the goal is to build systems and a team. So you have that as an asset, and it's gonna start earning money without you doing the work, okay? Now there's a different model between rich versus free. The old paradigm makes you rich in income but poor in time and freedom. So you need to pick your freedom. 'Cause if you're rich in income, high personal earnings, but every pound is tied to your effort, no time and you don't have freedom. So we've stuck in this trap now where we started our business to be financially free, to work when we want, where we want, do whatever we want, but you're not really because all of the income's tied to you doing the effort. So you've got no leverage and you don't have any real freedom because you're thinking about candidates all of the time, clients, dropouts. It's like very hard to get free. Freedom is assets and a team that carry the load. So the money keeps coming and so does the time, and that is the goal. So there's a guy called Jocko Willink. He was like a big US— I think he was like a Navy SEAL leader. He talks about extreme ownership. So everything that goes wrong in your business is ultimately your fault. You designed it, you hired them, you set the expectations. That is the best news there is because it means you are the one that can fix it. So wherever you are right now in your business is designed by you and it is all your fault. So if you're not in a good position, we need to like firstly own that, okay? And we need to become that new version of ourselves and make sure that we can make that change. Now, your agency is a cash flow asset. So recruitment rarely sells for a fortune. Like I said, it's very rare a recruitment business will sell. So when I worked in a recruitment agency, Nigel Frank International, they sold. They sold for over, I think it was $200 million. I had shares, 6-figure shares in the company. I left, set up on my own. Since that time, it's like this, you can count on maybe 1 or 2 hands How many in the UK, for example, have actually sold successfully without like a big MBO or where the owner has sustained a business for 3 years? It's very hard to scale past these 15, 20 headcount. Okay? You do see some rare scenarios when you look at interviews on LinkedIn that have got 40, 50 heads. But we've spoke to now, what, we've had 1,700 agencies through this program over the years. Sales calls, we spoke to over 10,000, okay? So when you look at the data, very few of them have ever scaled past like 2 million a year or ever exited or sold. It's very rare. So we need to see this business as a cash-flowing asset. So it's like the goal for all of you here is within 5 years become a liquid millionaire, which means liquid cash, so you've got over a million pounds or million dollars sitting in your bank account. Like not on assets, not on like what the business is worth, like actual liquid cash, okay? Now there's two paths to do that. Obviously path A, you can systemize. So you build a team, the system so it runs and potentially could sell it without you. So if you start building the recurring revenue, the talent partner model, that's got an opportunity to sell. Or really the path B, milk and reinvest, is just to run it hard, extract the cash and build wealth in other assets. Okay, so both end in freedom, and we're going to map that out exactly in your workbooks. But for me, it would be just trying to get as much cash out of the business as possible. And I'm going to talk about this in one of the other sessions is I believe we only have a finite amount— well, we definitely only have a finite amount of time, but as an entrepreneur in your business, you have a finite amount of time where you've got the high energy, you've got the passion, enthusiasm, You were talking about hiring 20 people, having 10 children, because he's 25 and he's got the energy and everyone else in the room— so that's going to change over time. So if I come back to him in 5 years, he's probably going to be tired, burnt out, hates employing employees, and he's going to be back in the cycle. Hopefully not, but yeah. So the point with that is over time in your entrepreneurial journey, you're all at different stages in your life, but the there's some averages here. You need to see that you need to run faster. You're in a comfort zone where you're running on like gear 2, gear 3. You need to be like in gear 8 every single day for the next 1, 2 years running hard, especially with AI and the way things are evolving. There's never been a better time to get richer as fast, but you need to seize the opportunity and you need to work faster. You need to like get to your goals quicker because no one wants to be in a recruitment business for 15, 20, 30 years. Because when you look at all of those founders, they're all tired, they don't have any passion anymore, and they haven't created the money. So they were a little bit probably bitter and pissed off that all of that time, energy, and effort they put in over the years, they haven't got the end goal to show for it. Okay? So the mindset shift today needs to be, I need to become a liquid millionaire within 5 years. Now revenue is vanity, profit is sanity. We all know this. For a service business, 50% to 70% profit margins should be the standard. That's your goal. Standards. Philip talked about, which is great, obviously we work together one-on-one, so I'm proud of him saying that he wants to increase his profit margins, but he's already got 50% profit margins and he wants higher, which is great. That should be your hygiene standard, okay? Because as a service business, if we're not going to sell it, we need to make sure that we've got high profit margins. Now, high margins with no delivery time from you is the holy grail. So it's a lot— it's very easy because you probably all got 70% profit margins in the room. Because you're doing all of the work, yeah? But like when we remove you and can you actually get a team to do that and maintain 50, 60, 70% profit margins? That's the key skill in business. So the biggest leverage window in recruitment history is open. AI does the work of a team for sure. So obviously George is gonna be sharing more of that today on Claude. Your offshore costs are a fraction of UK staff. So all of you pretty much, is anyone, Has everyone got like a South African team or at least one or more? Raise your hand. Okay, so most of you, like 70-80% of the room. Never been a better time to do that, you know, and we've got that nailed down with Remote Assistance. We've placed over 700 professionals now, fully trained up. And the whole goal here is to give you that time where you've got margin and profit in your business because if you're hiring in the UK, US, it's a lot more expensive. You've got pension, healthcare, sickness, holidays. You've got all of that as well. And then management. Not to say you don't work there. I've got some great UK staff, but for some of you to get started, at least get on the remote team wagon. So you can do a few people in AI as 7-figure assets. And now there's never been a better time where you can actually scale to 7 figures with like a handful of remote assistants and AI and you. Because some of these remote assistants turn into recruiters, which I think Lucy's going to share one as well. So we need to move now. In 5 years, the early movers own the market and the rest will work for them. Peter Drucker, a great business philosopher, says, "The greatest danger in turbulent times is not the turbulence, it is to act with yesterday's logic." We need to get you all out of this old-school recruiter brain mentality, because we've all been brainwashed as recruiters, and we need to be seen as business system thinker first. As opposed to recruiters. Okay, so we're going to be covering the 7-figure AI agency roadmap. Goal now is same milestone. We want to get to 7 figures, but how do we do it with fewer people and most importantly, fewer of your hours of delivery? So most founders grow the wrong way. They try to scale by doing more themselves. The roadmap scales by doing less. So we want to try and let AI and Claude and a small team carry as much as possible. The trap is a bigger job. So more clients, more roles, more hours, all routed through you. So that means obviously increased revenue, but so does the chaos and the burnout. So the ultimate goal is to have a machine. Okay? AI, a lean team run the engine. You step out of delivery so revenue can climb whilst your hours fall. Over time when you run a business, any service-based business like year 1, 2, 3, you're putting in the grind. Year 1, I was working 60-hour weeks, 70-hour weeks. Week 2, I was still working that, but I was starting to build the team. Week 3, like I was working less in the business, more on it. By year 5, I was working a lot less in the business. And then I got that skillset to scale to 7 figures. So then when I started my second business, Agency Blueprint, I got there way quicker, way faster, and I worked less hours a lot faster. By year 2 in that business, I was working less hours. Then when we built Remote Assistance, I wasn't working in that business even from day 1. So, 'cause I had all of the skillset, the mindset to build a 7-figure company without me at all on any of the delivery, any of the sales calls, any fulfillment, So the goal for you is to get to a point where after each year of your business, you should be earning more and you should be working less in the business. Okay? Otherwise there's something there fundamentally flawed. Now there might be times that you work more on the business, but then obviously revenue and profit can increase and that's fine and that should be your choice, but it shouldn't need to depend on you. Okay? So what's changed now in the opportunity in 2026? I mean, even when we did an event, we did an event 2, 3 months ago and even then So much has changed with AI that we're talking about now that we're going to share some of you with at the event. This time last year in London, we did it in this exact hotel. AI wasn't really what it can do now. Obviously, we were more heavily clay-focused. Now we're more heavily cloud-focused, and that's going to evolve over time and more efficiencies now. Even this presentation I built fully in cloud. Even the design, the— Everything was just done magically. It's great. I was just talking back and forth. Yes, it took me maybe a few hours to put together, like unpacking everything, but it's amazing what can be done. So the goal is AI should do the repeatable things like a lot of the sourcing, the outreach drafts. So we were mentioning there about Luke, like having all of these templates, CV formatting, notes, scheduling, that should be done in minutes now, not hours. And offshore does the manual. So a remote sourcer, whether it's an executive assistant, a recruiter, sourcer, That should be done between $1K to $1.5K a month to do the volume work that you used to do yourself. And number 3 is you do only what you can. Okay, so that should be pitching clients, closing deals, building the key relationships with those clients, and then hiring and training your team. That's really where your skills should lie. And if you're worried or concerned about this, you need to get good at this. Okay. No good being even a better recruiter. That's not a skill set that you need to create a business. Okay. You need to be good at selling always and nurturing those key relationships. This should be like a £1,000 an hour task. So we're going to be going through what your hourly rate is and how we double that. And that's how I want you all seeing yourselves of like how we increase our hourly rate and work on more higher value tasks as we go, because the result should be 20 hours a week back for you in the business. Before you hire a single full-time person. So George is going to cover that. So we've got 3 stages we're going to go through with the model. Now, there's no right or wrong with any model. You need to choose the model that's right for you, but then it would be stick with it, okay? So I was on a call with a client a couple of days ago. I can't remember the name now, but they were stuck in between. So they're like, they weren't going to build a 7-figure agency, but they didn't want solopreneur, but then they had a couple of recruiters, but they didn't really want them. They were doing all of the work and they weren't making much money. Profit, I was like, you're just going around in circles, you know, like these 20K months. You need to define what it is you actually want to build and what you want from this business. Okay. For me and for most of you, it should be just make as much cash as humanly possible, as fast as humanly possible, so you can put that in other assets so that can compound and create your retirement plan and your next big stage. So the stage 1 should be the AI solopreneur. So this is, and we've got a few people in the room that are doing this, Billing between £200K and £500K. So you're doing all of the billings yourself. So you've got over 70% profit margins. You're probably working 45 to 50 hours a week, but you've got the AI stack that's going to help with your sourcing, a remote assistant to help with the delivery. And that way everything runs through you, but you are the product. So every pound is billed by you. And like you just build that as a business and all you're doing is optimising your hourly rates. As you build a business. So like you said on that, so just be comfortable with doing that, not pretending in your head you want to hire a team, but you never do because you think it's too much work or too much stress. Just own that you want to have this and there's no right or wrong, like I said, but then it's just all about optimizing it. So how can I get to the highest amount of revenue and profit within that 45 to 50 hours a week that I'm going to work in the business? Okay. And as AI evolves and you get your remote assistant better,, then that's going to be more efficient. So you buy more time back. So then you might get to $500K and just work 30 hours a week and you have a nice peaceful life. And the goal is to bank as much profit as you can. And eventually you turn those into different assets. The second stage is the small boutique agency stage. So this is where you've got a team of around 3 to 7. Most of them can be remote. It'll be remote recruiters and remote sourcers and an assistant. That's normally between $500K to $750K a year. That's where your profits are around about 60%, so you've still got high profits. You're probably working in the business like 30 hours a week, so maybe 50% of placements are done by you, 50% of your team, so it's a bit of a hybrid. Then obviously your problem then is hiring, operational management, and then the feast and famine people were talking about there. So that's where like sometimes you're gonna have to dive in on a month because some of the recruiters haven't done deals, so then you need to get back in the trenches and and deal again. And that's a small boutique agency stage. And then the final stage is your 7-figure AI-assisted agency. This is where you're gonna do a million plus in revenue. This is gross profit revenue for those contract recruiters that like adding in all of your billing margins. So it's 50% profit margins should be the holy grail standard for this 7-figure agency, okay? Now how we do it and how I teach it is not 360 model-like. I don't believe in having 360 recruiters in your business. They should not be winning clients and delivering. They should just be doing delivery. You should be doing the winning the clients, bringing them in retained exclusive, handing them down to the team. And that's where you can get it to a point where you should just eventually only work 20 hours a week in that business. And that's where you've got, it's on average 5 to 8 humans and then AI agents. So the only problem then is letting go, hiring a manager that can run delivery without you. So I've got my business partner, brother Dan, doing that. And then the goal for you then is converting that profit into wealth. So if you're doing a million plus, you're doing 50% profit margins, you're taking 500K, profit a year. So over 4 years, you've got £2 million in the bank account that compounds at 8% return every year. That'll probably double in 9 years. Boom, you've got £4 million. You can live off potentially 4% for the rest of your life. So 4% of the £4 million, you might have like £180K a year that you can live off for the rest of your life without having to do anything. Okay. We're going to be going through that wealth bridge tomorrow. So that should be a business that funds your life, not just your lifestyle. And that's going to be the goal for everyone. So I want you just to think in the model. Obviously you've got the diagram there in the 7 Figure AI Agency Roadmap. Just highlighting like what it is that you want to build. Okay? And you really need to like stick at like being comfortable with what it is that you truly want to build because this agency is not for everyone. Like having a 7-figure agency, everyone tells me they want it. But they're not prepared to go through the suffering of hiring and firing, building a culture, and building a solid team. So you need to be comfortable with what is your skill set, what are you really good at, and can you manage people? Can you build a culture? Can you attract people? And do you even want to do that? But there's no trade-off. Like, you're not going to— you can't just AI everything. It's either going to be you do the work and the billings, and you're leveraging yourself a little bit more with AI, or you build a team that can do the delivery. Okay, so it's good that we've got, well, all of you in the room have got this intention to get to 7 figures, which is brilliant. So we all want to get to that millionaire status, and it's just how you can do that as fast as humanly possible, I would say, because the competition's, it's increased, but then you've also got so much leverage now with tools. So don't be, You shouldn't be seeing it as a, it's a positive thing because you've just got the opportunity and most people just are not prepared to make the sacrifices, okay? Like most people that wanna be millionaires, people just like struggle to get through the sacrifices and they stay in their own head and it's what holds them back. Okay, so that's the 3 different ways you can build a recruitment business in 2026. And obviously, like I said, you just need to pick your model. Most of you want to get to this AI-enhanced agency. So we want to be just in the mindset of you want 5 to 8, we're going to need 5 to 8 people and probably at least 2 or 3 of them are going to have to be delivery recruiters, the rest sourcing and ops. So to get to 5 to 8 people, you're going to need to at least hire double or triple that because they're going to leave. Okay, so you need to be in that mindset of like, Well, shit, am I really gonna get there in the next 1 year, 2 years? Because there's still a lot of work. And I want you to feel this mental model of you have to be free from everything else to get there. You cannot be a billing recruiter getting all your way to 7 figures. 'Cause I didn't do it that way. Dan did the deals and then we brought in recruiters. I never did one. I did do one placement in the business, a lawyer for Big Gaming, I remember, 15K fee. But I only sent one CV, one message on LinkedIn. So it was the easiest deal in history. But I did it with the intention, I'd already been a recruiter for a recruitment agency. I wanted to be a real entrepreneur. I had a $100 million net worth goal I wanted to get to. I'm not gonna get doing that like being a recruiter. So I was very religious on sticking to that principle of like, I'm not doing the billings myself. And I think for some of you, because you get some highs and wins and $20K fees, then it's like an addiction you need to get off. I get a high from doing zero deals but knowing my team has done it and I'm just sleeping or sat in a coffee shop and there's another 10 grand, 20 grand came in, 50 grand or whatever. So that's what you need to sort of structure to. So we go through the talent partner model. Warren Buffett, again, one of the richest guys in the world, genius in investing, he said, "If you don't find a way to make money while you sleep, you will work until you die." Okay, so the goal for all of you is to create this liquid millionaire net worth because obviously I'm going to go through the wealth model tomorrow of like how that compounds. So it's just such a different position to be in where you've got, if you've got money that earns while you sleep, because I was on Claude like working out how much money I make a day, even just whilst I sleep and it's like crazy. I'm like, wow, because compound interest, once you've got a few million that compounds and it doubles over 8 to 9 years.. And it's just such a better position to be in than like knowing you have to grind for the deal to make the money to like feed your family and the business. Okay. So why every month starts from zero? So a pure placement desk resets to nothing on the first. A partner desk wakes up already paid. So obviously there's the trade-off you were talking about when we sell Talent Partner, which is fractional recruitment as a service. You get paid a retainer every month. It's predictable recurring revenue. It's cash in the bank on day one. It compounds as you add clients. But the downsides to that, you're not going to get big fees. You're not going to get the $20K fees all of the time. Contingent, you get paid when you place. It's a great feast and famine. But you start from zero every month and you sell, place, repeat forever. And that's obviously the cycle you get stuck in with contingency recruitment. Not saying it's bad. We still do it in Ronald James. But I have my team doing it, so I don't need to do it. But like, so you even need to do that, or at least get to talent partners, you've got recurring revenue. So then obviously free your time up so you can invest more in the team. So what do you actually sell? Well, you're not a fee per CV, it's an embedded talent partner model for the whole hiring function. So you've got a dedicated offshore sourcing pod on their roles. So obviously you've got your sourcer that you're going to implement in their team. An agreed number of hires per quarter. So like the, probably the best promise you can give is like, well, give me a certain amount of roles. How many hires do you actually need to make in the business? And you can reverse engineer your pitch based on how many hires they need to make that quarter in that department. Might not be the full business, might be a certain department. The sell for that is a live talent pipeline, always warm. So obviously George can show you the talent pipeline that they get. Increasing their employer brand. So obviously doing job videos, content, market maps that you can build now really cleverly in Claude., and a weekly hiring call with them. One invoice, no surprises. So obviously moving away from each placement per hire and a set monthly figure. So how you could price it is going to be $5,000 to $10,000 a month. That might be a one-off to onboard. Okay. So that might be just to set up and get everything going and might include a certain amount of hires. And then obviously the goal is on average we're seeing like around about $5,000 to $8,000 a month retainer is what you would push for. You could push for more if you're selling yourself as a fractional recruiter first. Like I said, if you want to get the first 2 or 3 in,. But the goal is just to try and have these monthly retainers going. Like even if you can get your first 3 at $5K a month, that's $15K a month recurring. It's like almost $200K a year you've got guaranteed coming in. So yeah, I was giving an example here. 4 partner clients. If you did a $6K retainer, that's— you've got monthly recurring revenue of $24K a month. So your first year you're already almost hitting $318K, including the installs. Before a single contingent placement is made. So that could be the flow that your full business sits on now. So you don't have to go fully— I talked about building a second revenue stream. Well, imagine just having 4 Talent Partner clients this year that you win, one a quarter, and it gives you this recurring revenue. And then you build on maybe 4 marketing sources that can oversee it. You spend a little bit of time doing the weekly call and maybe some of the phone screens, and then you've got this guarantee coming in. Okay, that's a lot better than having to do another contingent fee at 6K, 8K, and it's uncertain. Okay, it's more predictable.
