#BTC 39: The 2 Types of Margin Every Company Needs

WEBVTT 1 00:00:06.080 --> 00:00:09.669 Welcome back to the behind the curtain series of BB growth. I do a 2 00:00:09.710 --> 00:00:14.910 lot of these episodes with Logan, but today I'm actually doing this episode with 3 00:00:15.029 --> 00:00:18.829 our Celo, Bill read, and we're talking about something that we're just talking 4 00:00:18.870 --> 00:00:22.500 about offline. We thought we'd pop behind the MIC and talk about this and 5 00:00:22.539 --> 00:00:26.260 it's this idea that growth happens in the margins. I know, Bill, 6 00:00:26.300 --> 00:00:30.579 this is something that you talk about a lot and one of the things that 7 00:00:30.660 --> 00:00:33.899 we're going to be diving into here is, you know, there's two different 8 00:00:33.899 --> 00:00:39.250 types of margins that that company should be trying to create and we're going to 9 00:00:39.329 --> 00:00:42.890 talk and unpack what those two types of margin are. But then I want 10 00:00:42.890 --> 00:00:46.530 to have you talked about how do you actually create margin and both of those 11 00:00:46.570 --> 00:00:49.890 areas, because that's I mean, that's I think where you listening to this 12 00:00:50.399 --> 00:00:53.880 are going to get immense value. Bill, as a back you know, 13 00:00:53.960 --> 00:00:58.640 has been in multiple businesses, gone through multiple exits, has been in businesses 14 00:00:58.719 --> 00:01:02.119 that have raised money. He's been in bootstrap to businesses like what he's in 15 00:01:02.200 --> 00:01:06.469 now is sweetfish. So he's just pulling from a wealth of experience and and 16 00:01:07.030 --> 00:01:07.670 so I think you're going to get a ton of value out of this. 17 00:01:07.709 --> 00:01:11.870 So I'm just going to keep peppering bill with questions about this idea and I 18 00:01:12.109 --> 00:01:15.629 think you're going to get enormous amount of value. So so, Bill, 19 00:01:15.629 --> 00:01:19.579 let's start with the two types of margins that you typically have in a business. 20 00:01:19.620 --> 00:01:22.620 As we're talking offline, you said, you know, James, you've 21 00:01:22.659 --> 00:01:26.340 got the margin of time and then you've got the margin of money dollars. 22 00:01:26.859 --> 00:01:32.819 And Talk to us about the time margin first and what you've learned about the 23 00:01:32.890 --> 00:01:36.969 importance of creating margin as it relates to time. Yeah, well, it's 24 00:01:36.969 --> 00:01:42.250 a good place to start, because that's the the piece of margin that most 25 00:01:42.530 --> 00:01:47.640 young founders and young businesses struggle with the most. Money's one thing, but 26 00:01:47.799 --> 00:01:51.799 man time. We all have a finite number of hours in a day and 27 00:01:51.959 --> 00:01:56.799 number of days in a week, and so it's more difficult to create margin 28 00:01:57.359 --> 00:02:00.950 in in the area of time. But it is it is so critical in 29 00:02:01.430 --> 00:02:07.909 early in the business for an organization to have some some room to breathe and 30 00:02:08.110 --> 00:02:13.990 and and room to grow. What does that look like at sweetish? Yeah, 31 00:02:14.310 --> 00:02:16.620 what does time margin? Large like a sweetfish? Well, you know, 32 00:02:17.139 --> 00:02:23.780 James, you're a good example of somebody who understands margin and you've been 33 00:02:23.819 --> 00:02:30.650 able to actually execute what you've done over the last five years with a fair 34 00:02:30.689 --> 00:02:35.610 amount of margin. Right now, your primary role is strategic. Yeah, 35 00:02:35.689 --> 00:02:38.569 and, and you know, a lot of people say their visionaries. I 36 00:02:38.849 --> 00:02:44.210 really don't like that description because I think sometimes we hide behind that visionary Yeah 37 00:02:44.400 --> 00:02:47.400 Label and we say, well, we really don't do much words the visionaries 38 00:02:47.479 --> 00:02:53.919 right, but you truly have an eye on the horizon and you have the 39 00:02:54.840 --> 00:03:00.590 you have the space and the time that allows you to develop some of those 40 00:03:00.590 --> 00:03:06.830 ideas and to bounce those I heard John call an hour ago with somebody on 41 00:03:06.909 --> 00:03:10.750 our team and you were casting vision right. That's what a visionary does, 42 00:03:12.189 --> 00:03:17.500 but it requires margin. If you were, if you were running every little 43 00:03:17.500 --> 00:03:22.020 piece of the business, you wouldn't have that conversation right. You would have 44 00:03:22.060 --> 00:03:23.099 gotten through what you needed to get through and you would have been on to 45 00:03:23.180 --> 00:03:27.330 the next meeting talking about tactics. where. Where do you see that? 46 00:03:27.370 --> 00:03:31.090 A lot of founders sacrifice margin. Is it? Is it because they're so 47 00:03:31.289 --> 00:03:37.490 heavily involved on the sales side of the business? Are they meticulous about operational 48 00:03:37.610 --> 00:03:42.240 details like you've this is not your first go around with a young with a 49 00:03:42.280 --> 00:03:45.800 young founder like myself. You've been in a lot of different businesses like this. 50 00:03:46.319 --> 00:03:51.639 It's good I'm screwing up in enough an enough other ways. It's good 51 00:03:51.680 --> 00:03:54.240 to know that I'm not screwing up as bad in this area. But what 52 00:03:54.360 --> 00:04:00.909 are what are some common pitfalls, specifically for founders, where they tend to 53 00:04:00.030 --> 00:04:04.789 give up margin where they could actually capture some team margin? Well, the 54 00:04:04.870 --> 00:04:13.539 main issue, and my experience is that the founder is too good for his 55 00:04:13.699 --> 00:04:16.980 own good. And then another words, when I walk into an organization and 56 00:04:17.139 --> 00:04:23.379 I see that the founder is the best thing they've got, that's a problem. 57 00:04:23.740 --> 00:04:27.769 Now, the founders excited about that and happy, but in my opinion 58 00:04:27.850 --> 00:04:31.209 the mark of a truly great leader is not defined by how good he is, 59 00:04:31.730 --> 00:04:35.449 it's defined by how good the people around him are, and that's both 60 00:04:35.529 --> 00:04:41.720 people who are better than he is and it's a team that he's developing. 61 00:04:41.959 --> 00:04:45.519 Yeah, so I think that's the first problem is that you know too much. 62 00:04:45.560 --> 00:04:49.759 Yeah, right, and so many, and we're talking you know young 63 00:04:50.079 --> 00:04:54.310 early. Have Stage businesses. Most people get into that because they had an 64 00:04:54.350 --> 00:05:00.029 interest or a passion or a hobby or a buyout or an inheritance. Right, 65 00:05:00.269 --> 00:05:02.230 they don't typically get into a business because they know how to run a 66 00:05:02.550 --> 00:05:06.500 business. In fact, often times they have no business for running one. 67 00:05:06.540 --> 00:05:12.180 Right. So they get in because they're really good at something or they're connected 68 00:05:12.300 --> 00:05:16.379 to someone right, they have something unique. And so if they don't fairly 69 00:05:16.420 --> 00:05:21.329 quickly empower and enable their team, you know, if they're the guy pushing 70 00:05:21.370 --> 00:05:25.569 you out of the way saying just let me do it, that's that's a 71 00:05:25.649 --> 00:05:30.050 big problem in a guy like that will never develop margin because it'll always be 72 00:05:30.129 --> 00:05:32.129 the best thing. You know, that the best guy, smartest guy in 73 00:05:32.170 --> 00:05:35.920 the room. So I want to talk about the money margin, but before 74 00:05:35.959 --> 00:05:40.920 we do that, you know you've unpacked time margin. Why it's important. 75 00:05:41.360 --> 00:05:45.759 How do you actually create time margin? I know for me it has come 76 00:05:45.920 --> 00:05:50.110 in the investment of money. Yes, so we've actually been very lean in 77 00:05:50.269 --> 00:05:55.230 terms of you know, we probably don't have as much margin financially as we 78 00:05:55.350 --> 00:06:02.350 should because I've invested very obviously invest in you, Logan Kelsey, our creative 79 00:06:02.389 --> 00:06:06.459 director, Dan, our director of Audience Growth, Ryan, our director of 80 00:06:06.500 --> 00:06:11.500 people, laps and culture. I know that I what a lot of people 81 00:06:11.540 --> 00:06:16.660 would say. I've overinvested in a level of leadership because I should be doing 82 00:06:16.860 --> 00:06:20.930 one of those or multiple of those functions. I know that my motivation for 83 00:06:21.009 --> 00:06:25.610 being in business is to not work eighty hours a week into not like I'm 84 00:06:25.649 --> 00:06:29.569 not strong, I'm not big time money motivated. So it's easier for me 85 00:06:29.649 --> 00:06:32.399 to make those money investments because what I care about is freedom of my time. 86 00:06:33.199 --> 00:06:36.439 And so I've created that time margin because that's something that I'm passionate about, 87 00:06:36.600 --> 00:06:41.360 strongly about, but I've done it almost at the sacrifice of the other 88 00:06:41.800 --> 00:06:45.959 piece of margin that I that I was it's costume, right you it's an 89 00:06:46.040 --> 00:06:49.069 expense. Yeah, and it shifts opportunity from one column to the other. 90 00:06:49.350 --> 00:06:51.790 So how do you create time margin? Is Not the only way to create 91 00:06:51.829 --> 00:06:56.589 time margin is is to make the investment in people know. I think there's 92 00:06:56.589 --> 00:07:00.629 another really key concept here, and that is the concept of boundaries. We 93 00:07:00.750 --> 00:07:03.779 don't do boundaries very well in this culture and certainly in businesses. We don't 94 00:07:03.899 --> 00:07:09.819 set boundaries very well, and so when you don't set an honor your own 95 00:07:09.939 --> 00:07:15.129 boundaries, your you very difficult time finding margin right, even artificial boundaries that 96 00:07:15.410 --> 00:07:18.689 say, you know, we've got one team member on our team, one 97 00:07:18.730 --> 00:07:21.290 of our best people, who, at five o'clock says hey, I got 98 00:07:21.410 --> 00:07:25.410 to jump off. Yeah, right, and that could really offend me and 99 00:07:25.970 --> 00:07:30.000 and upset me, but man, he's said a margin and he honors that 100 00:07:30.160 --> 00:07:32.800 margin. And you know what, I honor that margin, yeah, or 101 00:07:32.920 --> 00:07:38.720 that that boundary rather, and so you can create margins for yourself just in 102 00:07:39.480 --> 00:07:41.720 in time, James. You can do it the same way you do it 103 00:07:41.800 --> 00:07:46.910 with money. underspend, under plenty, you know, shoot low and plan 104 00:07:47.149 --> 00:07:51.709 for some room, and I think too few of us do that. You 105 00:07:51.790 --> 00:07:56.550 know, you, you have taught our team how to time block. Well, 106 00:07:56.670 --> 00:08:00.259 some of US are struggling with it, but time blocking is another great 107 00:08:00.300 --> 00:08:03.699 way to develop some margin, because if you look at the people who are 108 00:08:03.740 --> 00:08:05.540 doing it well on our team, there's margin blocked in. I just look 109 00:08:05.540 --> 00:08:09.139 at somebody schedule to day and they got lunch blocked out every single day. 110 00:08:09.699 --> 00:08:13.850 And that's okay with me and that's okay with you, because you understand what's 111 00:08:13.850 --> 00:08:18.490 happening there. They're setting boundaries and they're creating margin. Yeah, so we've 112 00:08:18.529 --> 00:08:22.649 talked about time margin. What it is, why it's important. How do 113 00:08:22.730 --> 00:08:26.560 you create time margin? Time blocking is a really tactical way to create that 114 00:08:26.720 --> 00:08:31.920 time margin. Setting healthy boundaries. You hear a lot of people talk about 115 00:08:31.920 --> 00:08:35.799 that, with the influx of people talking about mental health today. Money is 116 00:08:35.879 --> 00:08:39.080 the other margin, and this is this is the part of our business where 117 00:08:39.080 --> 00:08:43.549 I need to really be taking notes, because traditionally, especially before you came 118 00:08:43.629 --> 00:08:48.990 around, we have not had much margin on the financial side of the business. 119 00:08:48.509 --> 00:08:54.070 Talk to us about money margin and what having it actually allows you to 120 00:08:54.149 --> 00:08:58.940 do. Sure. Well, the parallel here, James, again with your 121 00:08:58.299 --> 00:09:03.620 you're spending at home. It's very similar. The first and most important thing 122 00:09:03.460 --> 00:09:09.700 is to to spend less than you make. What does that require? In 123 00:09:09.740 --> 00:09:11.730 a business it's a little more complicated than at home. Yeah, I'm not 124 00:09:11.929 --> 00:09:16.090 entirely sure about this, but I think budgeting is kind of old fashioned. 125 00:09:16.529 --> 00:09:20.009 Do you budget at home? My wife does, I do not. Okay, 126 00:09:20.330 --> 00:09:24.480 so it's a bit of a lost art at home and honestly, it's 127 00:09:24.519 --> 00:09:30.919 a bit of a neglected art at work. So you and I sat down 128 00:09:31.120 --> 00:09:33.840 and we spent a couple days, didn't we? Yeah, working out what 129 00:09:33.960 --> 00:09:37.559 we call our proforma for for two thousand and twenty. It was a grueling 130 00:09:37.710 --> 00:09:41.830 to it really was grueling. I mean we went offsite, but man, 131 00:09:43.029 --> 00:09:46.429 it was more complicated than even I thought it would be, and I've done 132 00:09:46.429 --> 00:09:50.470 it lots of times. You know, money finances are so fundamental to the 133 00:09:52.470 --> 00:09:56.139 heart of a business that when you sit down and start to budget, you 134 00:09:56.220 --> 00:10:01.179 can go deep real quick, and so we uncovered a lot of issues and 135 00:10:01.259 --> 00:10:05.659 opportunity these during that time. That's one place we found margin. So when 136 00:10:05.740 --> 00:10:11.809 you plan, number one, you you discover areas where you've got margin that 137 00:10:11.889 --> 00:10:15.610 maybe you, maybe somebody else is taking up that you need to get back 138 00:10:15.610 --> 00:10:18.490 as a company right. So that's one thing. The other thing is, 139 00:10:18.610 --> 00:10:28.519 as you plan for growth, you give yourself some some room between what you 140 00:10:28.559 --> 00:10:33.799 would ideally spend and and what what you budget. Yeah, could. What 141 00:10:33.200 --> 00:10:37.710 were some examples from that exercise that we went through that you can remember, 142 00:10:37.230 --> 00:10:43.509 where we were able to create margin financially just by going through the process of 143 00:10:43.629 --> 00:10:46.110 putting together our two thousand and twenty budget or proformer or whatever you call it. 144 00:10:46.350 --> 00:10:50.740 Well, the quick, quickest way to find margin, especially for sweetfish, 145 00:10:50.740 --> 00:10:54.500 are, you know, our our number one expensive people and so not 146 00:10:54.620 --> 00:10:56.700 a lot of fun to talk about. But the reality is that, as 147 00:10:56.860 --> 00:11:01.980 we looked down through our following year, wasn't necessarily a matter of laying people 148 00:11:03.139 --> 00:11:05.210 off in this case, but it was a matter of, you know, 149 00:11:05.929 --> 00:11:11.049 we'd had a conversation. Perhaps, for example, hey, we need two 150 00:11:11.090 --> 00:11:16.850 more producers. Well, when you budget those, those people become numbers and 151 00:11:16.929 --> 00:11:22.600 then those numbers impact that decision. Yeah, well, that the decision and 152 00:11:22.759 --> 00:11:26.799 the the number at the bottom of the profit law statement that's so near and 153 00:11:26.879 --> 00:11:31.879 dear your heart. Kind Yeah, so I think that the best way to 154 00:11:33.190 --> 00:11:39.429 to create margin is to plan, to budget and also to I think it 155 00:11:39.549 --> 00:11:43.389 goes back to two boundaries, to leave some room in there to create boundaries, 156 00:11:43.429 --> 00:11:46.539 to say and I'd love to have two producers. Wouldn't it be awesome 157 00:11:46.539 --> 00:11:50.419 if we could hire a second producer? But you know what, we're going 158 00:11:50.460 --> 00:11:56.539 to leave that in a margin column for now and as opportunities come we're going 159 00:11:56.580 --> 00:12:01.730 to invest in those things. Just like at home, if you're spending everything 160 00:12:01.730 --> 00:12:05.090 you make, you have no margin to invest when an opportunity comes. Yeah, 161 00:12:05.169 --> 00:12:09.889 and we face the same thing at work. So one thing that I 162 00:12:09.090 --> 00:12:16.279 know that I really struggle with in terms of financial margin is there being getting 163 00:12:16.399 --> 00:12:22.200 to invest the large majority of my time and strategy and ideas. I get 164 00:12:22.399 --> 00:12:26.360 really excited about things. So I'll get really excited about an idea and I'll 165 00:12:26.480 --> 00:12:31.389 want to hire somebody that can do it, or I'll want to spend the 166 00:12:31.549 --> 00:12:35.590 money that I think we need to spend to get to this thing right. 167 00:12:35.750 --> 00:12:37.269 That's one one of my struggles, and then the other one is what you're 168 00:12:37.309 --> 00:12:41.629 wearing on your shirt. Yeah, so it's our number one core value, 169 00:12:41.149 --> 00:12:46.659 love people well. I want to love people well. I want our entire 170 00:12:46.740 --> 00:12:50.580 team to have health benefits and the best, the Cadillac of health benefits, 171 00:12:50.620 --> 00:12:54.539 and I want to give people unlimited paid time off that I want to do 172 00:12:54.220 --> 00:12:58.090 a lot of things because loving people well is important to me, it's a 173 00:12:58.370 --> 00:13:05.049 important to our entire organization, and so it's easy to justify spending money that 174 00:13:05.210 --> 00:13:11.970 we don't necessarily have earmarked to spend in the name of loving people well. 175 00:13:11.649 --> 00:13:16.519 How have you helped guide me in a lot of ways without me even knowing 176 00:13:16.600 --> 00:13:20.519 that you're doing it, but you are doing it. How are you keeping 177 00:13:20.679 --> 00:13:26.039 me kind of in the lane of protecting our margin and staying discipline to what 178 00:13:26.149 --> 00:13:31.309 we've budgeted, even though I'm I'm not stopping the number of ideas that I'm 179 00:13:31.350 --> 00:13:35.470 having and I don't think that we're not loving people well either. So how 180 00:13:35.509 --> 00:13:41.539 have you navigated that, working specifically with with this business? Well, first 181 00:13:41.580 --> 00:13:43.980 of all, I've been honest with you, right, yeah, and that's 182 00:13:43.100 --> 00:13:46.580 not everybody has a guy who is honest with them. Yeah, that's one 183 00:13:46.580 --> 00:13:52.460 of the something I write about that founders advantage is really a handicap because you 184 00:13:52.539 --> 00:13:56.610 get what you ask for. That right. So the first thing is I've 185 00:13:56.690 --> 00:14:03.730 been honest and frank with you and shared my years of experiences and failures that 186 00:14:03.250 --> 00:14:07.529 have led me to this. So that's number one. Number two, I 187 00:14:07.970 --> 00:14:11.919 I am constantly, James, I'm constantly picking your head up right, getting 188 00:14:11.960 --> 00:14:16.000 you to look out. Now you look out strategically really, really well, 189 00:14:16.080 --> 00:14:22.440 better than anybody I think I've ever worked with. But in terms of financials, 190 00:14:22.000 --> 00:14:28.269 it's difficult for you to look at a disciplined, defined plan when you've 191 00:14:28.309 --> 00:14:33.470 got a great idea. But Man, I am so glad that through the 192 00:14:33.509 --> 00:14:37.070 year two thousand and twenty, we had a plan, because I you would 193 00:14:37.070 --> 00:14:41.059 come to me and and you put an idea out and I'd say where does 194 00:14:41.220 --> 00:14:46.100 that? So it's help me understand where that's going to be paid for, 195 00:14:46.580 --> 00:14:50.220 because it has to be paid for. Yeah, it's the same thing that 196 00:14:50.379 --> 00:14:54.769 you emphasize. When we're dealing with culture, you know your first question is 197 00:14:54.049 --> 00:15:01.529 what core valued does that support? It's the same thing here. Define defined 198 00:15:01.649 --> 00:15:05.610 plan with applied discipline is is probably the best. The thing that I think 199 00:15:05.649 --> 00:15:11.240 has been helpful for me is knowing that before I could just Willy Nilly inject 200 00:15:11.279 --> 00:15:18.080 any idea into the business and do it because we didn't have somebody that was 201 00:15:18.320 --> 00:15:22.190 pushing back and and saying, Oh, we did, but they didn't necessarily 202 00:15:22.230 --> 00:15:26.669 have they didn't have the weight of of Your Voice, because you've been doing 203 00:15:26.750 --> 00:15:30.590 this for thirty, thirty five years and through it's easy for me to understand 204 00:15:30.590 --> 00:15:35.389 that you know what you're talking about because just of the sheer time you've spent 205 00:15:35.470 --> 00:15:39.700 in business. But the thing that it's helped me do is to say, 206 00:15:39.740 --> 00:15:41.620 okay, if I want to do this, it comes at the cost of 207 00:15:41.740 --> 00:15:48.139 something else. And so if we want to invest in this idea and start 208 00:15:48.220 --> 00:15:52.850 building digital products, it's going to mean that we we can't also go down 209 00:15:54.009 --> 00:15:58.090 this path of doing media days for our collective shows, right and so when 210 00:15:58.129 --> 00:16:02.289 I'm when I'm faced with the decision, I'll say, okay, no, 211 00:16:02.649 --> 00:16:06.080 now, actually, media days are more important we should hold off on this 212 00:16:06.440 --> 00:16:10.200 objective for a little bit longer or yeah, I think we actually should. 213 00:16:10.200 --> 00:16:12.240 I think this makes more strategic sense for us to invest in. So let's 214 00:16:12.279 --> 00:16:15.799 pull the resources that we were ear marking for this over to this. And 215 00:16:15.919 --> 00:16:22.350 so having that restriction has actually, I think it's just given me clarity in 216 00:16:22.549 --> 00:16:27.350 my decision making and it's crystallized my thinking in a lot of ways, because 217 00:16:27.389 --> 00:16:34.779 I can no longer just make willy nilly decisions without without there being a price 218 00:16:34.860 --> 00:16:38.899 Tobay, so to spread and right the because we're bootstrapped and we didn't go 219 00:16:38.980 --> 00:16:44.340 and raise five million dollars. That has to come at the cost of other 220 00:16:44.419 --> 00:16:47.330 things that I would also like to do. Yo, I want to highlight 221 00:16:47.409 --> 00:16:51.169 what you just said, the cost. Growth comes at a cost. It 222 00:16:51.330 --> 00:16:56.250 does, and thankfully you've got margin. So the cost to you and to 223 00:16:56.330 --> 00:17:00.889 your family into your health, has been negligible, wouldn't you say? Yeah, 224 00:17:00.480 --> 00:17:06.000 so I think that's the result of a lot of hard work, a 225 00:17:06.039 --> 00:17:12.359 lot of great decisions, but also committing to a plan and remaining disciplined to, 226 00:17:12.880 --> 00:17:18.269 as you say, every decision. Everything that you want comes, yeah, 227 00:17:18.390 --> 00:17:21.390 at a concost. Somebody has to pay. Somebody has to pay for 228 00:17:21.470 --> 00:17:23.710 it. Bill. This has been this has been incredible. So if you're 229 00:17:23.789 --> 00:17:29.950 listening to this, really ask yourself do we have do we have time margin? 230 00:17:29.990 --> 00:17:33.940 If you're a founder, do you have time margin? Because there's so 231 00:17:34.220 --> 00:17:38.779 much I know that I've found from having margin with my time. I don't 232 00:17:38.819 --> 00:17:42.579 work eighty hours a week. I sometimes don't work forty hours a week. 233 00:17:42.859 --> 00:17:47.849 I'm usually right around that, that forty hour mark and that's I don't think 234 00:17:47.849 --> 00:17:51.690 that's very common. Based on other entrepreneurs that I talked to, most James 235 00:17:51.730 --> 00:17:55.849 don't know how many they work and that's another piece of a puzzle, another 236 00:17:55.890 --> 00:17:59.039 piece of the issue. Will do another episode on how we started time tracking 237 00:17:59.119 --> 00:18:02.519 so that I can actually confidently say that I only work forty hours a week. 238 00:18:02.880 --> 00:18:04.880 But do you also have money margin? That one's a little bit easier. 239 00:18:04.920 --> 00:18:08.079 You can look at Your Bank and in a lot of ways see if 240 00:18:08.160 --> 00:18:12.829 you have money margin. That's one that we're the we're getting better at thanks 241 00:18:12.869 --> 00:18:18.549 to bill. I have sucked at that traditionally and because of partnering with with 242 00:18:18.710 --> 00:18:22.509 someone like Bill, we've seen incredible strides and sweetfish. So do you have 243 00:18:22.670 --> 00:18:29.420 time margin? Do you have money margin if you don't aggressively start doing things 244 00:18:29.460 --> 00:18:33.299 to try to create that margin. Plan a retreat right now is, you 245 00:18:33.380 --> 00:18:36.619 know, get with some some other strategic person on your team, whether it's 246 00:18:36.619 --> 00:18:40.940 your CEO or maybe it's your entire leadership team, and get off site. 247 00:18:41.380 --> 00:18:44.569 Start Planning for two thousand and twenty one right now. I know we're only 248 00:18:44.650 --> 00:18:47.009 in August right now, or whenever. I think this is when this is 249 00:18:47.130 --> 00:18:49.410 going live, but like we started planning last year too late and it was 250 00:18:49.529 --> 00:18:55.799 like November we did, and it's what still July and our planning is has 251 00:18:55.839 --> 00:18:59.559 begun. Yeah, so we're already starting that process for two thousand and twenty 252 00:18:59.559 --> 00:19:03.039 one right now. Make those plans. Those plans or what create your margin 253 00:19:03.200 --> 00:19:08.799 financially. Doing things like time blocking and setting boundaries are what create that margin 254 00:19:10.190 --> 00:19:12.750 with your time. So we hope that this has been super helpful. If 255 00:19:12.750 --> 00:19:18.269 you're not already following or connected to both myself, James Carberry or bill read 256 00:19:18.430 --> 00:19:21.910 on Linkedin, go ahead and do that. We are starting to put out 257 00:19:21.910 --> 00:19:25.059 a lot more content and we're really excited to connect with you there. So 258 00:19:25.380 --> 00:19:30.740 thank you so much for listening. One of the things we've learned about podcast 259 00:19:30.779 --> 00:19:34.299 audience growth is that word of mouth works. It works really, really well 260 00:19:34.339 --> 00:19:37.339 actually. So, if you love this show, would be awesome if you 261 00:19:37.500 --> 00:19:41.769 texted a friend to tell them about it, and if you send me a 262 00:19:41.890 --> 00:19:45.329 text with a screenshot of the text you sent to your friend, Metta, 263 00:19:45.490 --> 00:19:48.970 I know I'll send you a copy of my book content based networking, how 264 00:19:48.009 --> 00:19:52.569 to instantly connect with anyone. You want to know my cell phone numbers. 265 00:19:52.609 --> 00:19:55.839 Four hundred and seven, four, nine, hundred and three and three, 266 00:19:56.240 --> 00:19:56.720 two eight. Happy texting.