Breaking Growth Bottlenecks in Real Businesses | Ep 951

0:01If you can make the decision, fail, and then go back and do the other path in less time than it would take you to gather the data for the right path, then you make a failure in judgment by not deciding. And I think that's a very key point.

0:19Please welcome to the stage the author of the$100 million series and host of the game, Mr. Alex Ramosi.

0:32How was this morning? Good? Okay, awesome. Yeah, we split this up into kind of theoretical frameworks day one, and then we do a very tactical day two. And the reason for that was, well, we thought about it, but the big reason was mostly like, if you're going to have the opportunity to talk to the team, team's not bad, right? Yeah, they're pretty good. I think in some ways, one of the biggest belief breakers that I get a lot of feedback on is, you know, in a traditional service-based business, it's usually the founder and then everyone else is just like multiple orders of magnitude worse than them.

1:05And then we're like, yeah, my team will take care of you. Everyone's like, great, like super exciting and then you just cancel immediately that's why most service businesses don't scale and hopefully in meeting the team you got to have a better understanding of like why acquisition.com does the revenue it does has the size companies we have it's because we have very competent people and they're not cheap to be really candid with you and so i bring this up because i remember when i had my first private equity deal or was in that process there was um this moment where I was sitting at this long table.

1:37There's a managing partner at the other side, half a billion dollar fund. They had their team and then there was my team on this side. And so this really stark contrast visually. And I was doing the math on what he was going to make on the fund, which is somewhere in the neighborhood of like 200 million, 300 million personally, over five years at a super efficient tax rate, all liquid. And then I was looking at my team and it became incredibly apparent to me why he was going to make so much more money than I was. And so it was a very jarring example for me. And I thought, man, whatever I do next, I want to make sure that I have people like this around me.

2:06And so that's partially why you got to meet the team that you did. But also if you have the context in terms of how we excel your value in a business from day one, then when you do have the opportunity to ask the questions you're going to ask, ideally, or hopefully you should ask the ones that will generate the most impact in the business. And so I'll give you an example of this. I had a gentleman a few months back who came in and he said, Hey, can you go over the closer framework? And so he was one of the questions. And I said, okay, well, what's your close rate right now? He said 40%. And I was like, okay.

2:37So you got excited about this, booked this in your calendar, waited for the day, took time off from the business, flew out here, stayed at the hotel, did the full day one. And then you have your opportunity to get a question asked. And the one thing that you choose to ask about is something that is in no way going to change your business. 40 % is not your constraint, man. He's like, I just love sales. And I was like, yeah, obviously. He already knew the closer framework. And so I bring it up because oftentimes the things that we love are rarely the things the business needs. And so a lot of times the business is almost like the inverse of the need.

3:12Like your constraint will typically be not the thing that you are good at. And what's interesting is that we typically think it's the thing we're good at because the business excels in the beginning because of that thing that we are good at. And so if you're really good at product, really good at team, then you'll be like, I need to do more of this stuff. It's like, dude, your marketing blows. right on the other side you've got the really heavy promoters who are like man what's the next ad traffic hack or new content viral trend whatever but the route is the product sucks and so the business is never going to compound they never get sufficient LTV and so they cannot spend anyone they think it's going to be another trick to lower lower cac or lower lower lead cost the route is just the product sucks right and usually we have to chase the hard thing and so I'll explain what I mean by that.

3:53If there's no hard part about the business you're in, that sucks. And so what happens is that we will often waste our time trying to solve easier problems rather than the one problem that if you just solve that, the rest of your problems would go away. I mean, and fundamentally, this is what the theory of constraints is really about is that, you know, there's a lot of tiny hacks that you can do to improve conversion rate, improve ads, etc. But there's usually a big problem that you need to put most of your resources towards solving. And if you do that, then you get to crush everybody. The way that I like to frame this, though, is I remember there was a business I was working with that had a lot of revenue, but they had no enterprise value.

4:35So it's just like a cash flow machine, but it was all one-time transactions, etc. And wanted to switch towards a SaaS model. And so a SaaS model for that business, if they were able to keep the same revenue levels with like good SaaS metrics in terms of retention would have added somewhere in the area of like 200 or 400 million in enterprise value to the business. So a lot of money. And so I was talking to the founder and he's like, dude, this is just so hard. And I remember saying, well, that's why they pay you$400 million for solving it. Right. And so I bring this up because like sometimes some of the problems that you have, I have to frame them and like, there's just a big pot of gold that's gigantic on the other side of this problem, which tends to just motivate me a little bit more, or at least, you know, it works for me.

5:15So with that being said, I've had the distinct pleasure of being able to talk to a lot of businesses over the last couple of years, since we started doing this January of last year. And what's really interesting, you start to, you know, patterns start to emerge. And there are basically seven kind of call it deadly sins that I have noticed as common themes for entrepreneurs. And what's very difficult about them is that they are typically a choice between two apparently hard things. One that's hard today, one that's hard forever. And most times the entrepreneurs will stay stuck until they make this decision because decisions will slow you down more than anything else because you can stop doing it.

5:51You can basically wait to make them forever. And a lot of you guys have unmade decisions right now. I'll explain these seven kind of growth sins or kind of decision impasses. And my hope is that you guys probably have some notes from today and Yesterday? Yes? Okay. Pages and pages of notes. If you go home and try to do all those things, then I will have failed you because that is not how you will get ahead. You're going to get on, you know, get in your car, get in your Uber, get in your hotel room, get on the plane, whatever. And you're going to have an open piece of paper next to you at some point, hopefully.

6:22And you say, okay, I've got eight pages of notes. What am I actually going to do? Right. And hopefully on that next piece of paper, you only have one to three things. And those one to three things are the things that will get you the highest return for the effort and money and time that you allocate towards it. And so fundamentally strategy is making sure you pick the right things. And the reason that we've been able to disproportionately grow our companies and what we've done is because we've been pretty good at picking those things. And so like, if you're like, what is strategy? I think it's a big amorphous word, but basically it just means really good decisions around where we put our shit.

6:54So we get more back. With that said, let me walk through the issues that most people struggle with. Number one is avatar. I've got two different types of customers. I got residential, I got commercial, I've got poor people, I got rich people, I've got whatever, right? You have your two or three different avatars you might serve. And you're like, well, avatar one is 40 % of my business. I prefer avatar two. But if I get rid of avatar one, I won't be able to pay my bills. But if I keep serving avatar one, I'll never be able to get the operating leverage in order to actually expand this thing. And I'll stay stuck forever.

7:21Most of the time, you just have to make the call and it's going to suck. And it means that your ego is going to go down for a little bit because your revenue is not going to be what it was. and so whatever scoreboard or whoever you report to that somehow has like hold over your ego about whether you're making progress or not I would encourage you to delete it because you will just stay stuck for a very long time so if you have a clear avatar that you think you are better at serving then serve that avatar the next is data this was the most recent that I've added to this list which really just comes down to I have this very important decision and I would be able to make this decision if I just had the information to make the decision but I don't have the information, which then means, okay, what resources are required to make, to gather that information?

7:59Why? I don't have the resources because I'm so scatterbrained, which means that fundamentally you need to stop doing everything else and just focus on putting the resources in place or processes in place or technology in place or all three in order to capture the data so that you can make an informed decision. There's also the opposite way of doing this, which is you just make the fucking call without the data because you can't have perfect data at all times because sometimes the opportunity disappears by the time you do have all the information required to make the decision. If you can make the decision, fail, and then go back and do the other path in less time than it would take you to gather the data for the right path, then you make a failure in judgment by not deciding.

8:38And I think that's a very key point. The next one is focus, which is just, hey, I've got a yoga studio. I also have a chocolate factory. I'm really trying to have a platform all in one, one-stop shop for, you know, whatever. I'm sure that you have a great reason for why you have that second business or that third business. It's just not good enough. Like if you were that good, you would just make the one business bigger. It's better to have one$2 million business than two $1 million businesses for a variety of reasons. But the most basic is your competitors who are beating you are only focused on one and that's why they're beating you.

9:13The next is over-expansion. And this is an interesting one because there's no line in the sand that says, oh, you have over expanded. But the reality is that you're under talented. You have insufficient talent on the team. And as a result, you got ahead of your skis. You have one location. It was working well. And then you say, cool, we'll open up our second location. I'll take my best guy from here, put him there so they can stand this one up. They'll backfill themselves. And all of a sudden revenue from this location drops. This location doesn't go up as high as the first one. Now you have the same revenue you did before, but now you have twice the overhead.

9:40And you're like, oh, I think the solution here, since this is now baseline, is to open a third location. people do that a lot. Some of you are nodding your heads. And so what do you do in one of these situations? Right? Well, I can't, if I shut down the location, I've got a lease, I put, I put build out in, but I can't afford to bring someone else on because I just dropped my profit in order to do this. And I used up my savings. What's the call, right? And it's almost always going to be, I stay here forever where I do something very hard. And I would encourage you to lean into that very hard decision because it's the thing that's going to get you out of it faster.

10:11It'll just be more painful. So it's like you take your 10 years of waffling pain and you compress it into six to 12 months. And it's very easy to say as to pain for six to 12 months before you've jumped into it. But then you're six months in and you're like, this fucking sucks. And then you're still six months to go. So I just got out of a season like that. So ironically, the launch is like not like painful for me. It's work, but it's not painful. I went through a very hard season in the beginning of this year, just because we had to headbutt our way through. But otherwise, it's like, what else are you going to do?

10:39Just sit in it. So over expansion. The next one is compensation. So rock and hard place here. If you, you know, I'm paying my people too much. Sometimes it's too little. A too little situation is, hey, I've got a plumbing company and phones ringing off the hook, but I can't even service all the business because there's so few technicians that are good. I say, what are your margins? Person says my margins are, you know, decent. I say, great. What do you pay your technicians? They say market rate. And I'm like, what are we talking about here? Paying better, get more guys, increase revenue. What's the decision?

11:09On the other side, I've got a physical therapy clinic and we're at full capacity. All the beds are full all day long. Everyone's happy, except I don't make any money. Okay. Why? Well, I give my therapist 50 % of revenue. All right. Are they doing their own marketing costs, own sales, fronting the cost of the bed and the materials? Oh no, I do all of that. I just give them 50 % of the revenue? It's like, well, yeah, I mean, that would make sense while you make no money. That makes sense. And so, but what do I do? Do I change their comp and then lose my team? Or do I just not make money forever and run a nonprofit?

11:42It's funny because the majority of businesses in the US do not make money over half, either lose money or break even every year. So this is not a small problem. This is a big problem. Profit is unnatural. It's not a normally occurring thing. You have to force it and you have to keep the line because people will spend you were money happily. And so having that kind of discipline is difficult. It's a discipline. Profit is a discipline. I'm proud to say, actually, I have not had an unprofitable year since I've been in business. Kind of neat. Thank you. So compensation. So what do you do? Right. Next one is underpriced, which I would estimate just from my conversations with y 'all here, probably about half of you are underpriced.

12:17About half. Same situation as the therapist, but let's imagine that they're compensating appropriately. You're still, everything's capacity, everyone's happy, blah, blah, blah. Well, now if I raise my prices, I'll lose all my customers. You won't. You won't. You'll lose some, and then you replace them with better ones, and you'll make more money. And then finally, you've got single product, which this happens more in like e-commerce and sometimes the digital, which is, you know, you see a creator or somebody who's got a big volume who has one product that they sell, they're able to do so profitably, but they're not making that much money, and their margins are compressing every year as they add staff or they try to do advertising and it feels like this vicious cycle.

12:53So they're not sure what to do. The reality is that they're selling hundreds of units a month of whatever the thing is, but we're not just like calling those people up or reaching out to them in another way to just sell them something else. And so if instead of thinking of those as customers, you think about them as highly qualified leads, then all of a sudden kind of the business model changes in your head. You're like, oh, this is just offset CAC so that I can then sell my main thing. And it's just the business is missing the main thing. You really just have a lead generation machine that doesn't, that just makes a little bit of money rather than honestly the makings and the foundation of a monster, which is a great problem to have, but some people don't recognize that they have a monster by the tail.

13:27So with that being said, I will try and point to what problem I think it is as we go, as we go through these and let's rock and roll. Oh, also I try not to answer their question. Try not to talk to you. I try to talk through you to everybody else in terms of how I'm thinking about it. So when I'm answering the question, I'll half answer your question and half kind of address everybody else. Cool. Rock and roll. Real quick, guys, I have a special, special gift for you for being loyal listeners of the podcast. Leila and I spent probably an entire quarter putting together our Scaling Roadmap. It's breaking scaling into 10 stages and across all eight functions of the business.

14:02So you've got marketing, you've got sales, you've got product, you've got customer success, you've got IT, you've got recruiting, you've got HR, you've got finance. And we show the problems that emerge at every level of scale and how to graduate to the next level. It's all free and you can get it personalized to you. So it's about 30 pages for each of the stages. Once you answer the questions, it will tell you exactly where you're at and what you need to do to grow. It's about 14 hours of stuff, but it's narrowed down so that you only have to watch the part that's relevant to you, which will probably be about 90 minutes.

14:31And so if that's at all interesting, you can go to acquisition.com forward slash roadmap, R-O-A-D map. Road map. Hey, Alex. Big fan from the gym launch days. My name is Amir. I don't know if you heard on a medical practice. We're kind of closing in on 3 million revenue. Correct. We'd like to grow. I wrote down my question. What's the most overlooked operational system that adds the most leverage in scaling a service-based medical business like HRT? and if you could only hire one person to help implement that system who would it be and what would they all look like it's a very targeted question i think it'll depend on the business right now are you local or are you yeah are you local or are you national just local you're local okay so people come in person yes okay got it what's your primary lead source meta meta so ads yeah ads and revi uh sorry referrals sure what's the split probably 30 60 referrals 30 60 meta okay heard what's cac what's ltv ltv would be probably 4k i would say that's ltv yeah what's cac what do you spend for uh on per month on ads how many new customers do you get we spend about 25k per month now yeah okay and adwords excuse me adwords or meta both both okay yeah and And we get probably out of that, we get roughly around 150 new patients.

15:58Okay. So like 225-ish per patient-ish. Okay. So you're making like 20-ish to one. That's not bad. Okay. So 20-ish to one, and I'm guessing margins are good? Yeah. Great. From a capacity standpoint, do you have more square footage that you can service more customers with? Yes, we have more square footage. How many more customers can you take right now per month, sales velocity-wise? 100, 200. Okay. So you can double. right now okay so then what breaks when you double nothing breaks well then why don't you double no to answer your question so like the thing that breaks first is going to be the operating constraint and so then what stops you from doubling can you spend twice as much money yeah so why don't we spend twice as much money we should do that that sounds good so if you had twice as many people would they all be able to be serviced yeah i love this for us i don't really know what the issue is are you doing this right now month over month no we're kind of stagnant so then why why that's what that's why i'm here so why don't we spend more money just because it's like you got to a mental barrier of a thousand bucks a day and you're like i don't want to spend more than a thousand a day i mean i think my personal observation or thinking was that we should be more efficient with the money we're spending like i was thinking like okay our conversion rate is 20 to one should be like 40 to one maybe i mean you can always get more efficient I wouldn't say it's the lumber of the business.

17:17Like if we're just zooming, zooming out, the only thing that's really going to matter long-term is that you keep people forever. That's the only thing that matters. What are your long-term goals? Long-term goals? Yeah. Ideally, I mean, we would like to grow, expand, you know, nationwide if possible. Would you explain to multiple locations locally first? Yeah. Okay. We have two right now. Okay. So if you could have four or five in your local market, you'd be fine with that? Yeah. okay yeah the way i mean the way to do this is that you you basically want to reverse engineer forever stick now hrt is a product that tends to keep people pretty long time because it's hard to get off right they might switch you switch providers but once you're on you kind of stay on so as long as you're what's your turn do you know right now probably 40 40 40 annually yeah or 40 % annually so you keep 60 % of your customers every year maybe less maybe we keep like 50 % okay so 50 % leave 50 % stay all right so that would be something that I would be looking at so yeah if I were to solve this in order I hear where you're coming from from like because you're local you need to make sure that you don't just burn through your reputation which you might be at 50 % of your customers leaving every year especially on a product that's typically as sticky as that I mean that's if you come from the gym world did you go through gym launch yeah Yeah.

18:36So you learned how to market and sell. You just didn't learn how to product. Yeah. So I think your instincts are right. I think we have to fix churn and we have to fix the sales motion. Part of it is going to be how the expectations are being set on both the marketing and the sales call and the offers that are top of funnel and kind of the handshake between kind of step one, two, and three. And what are the kind of the key activation points and the conversations that have to be had. So if you did have a lot of profit, I would probably grab someone from from the software world and customer success to build out the customer success like pathway for you so that you can fix the churn issue so to your point i hear where you're saying we're like yeah you could spend more but you'd be churning out of people so i think your your instincts right there fix the hole in the back and then number one if you just do that the business will probably double like if you can cut your churn from call it 50 per year to 20 per year or less then the business will just double on its own in two and a half years you just did nothing you just kept everything the same.

19:30But the thing is disproportionately that would drop the bottom line. So your profit would significantly more than double by doing that. I'll give you guys a fun example. So WeWhiten is a teeth whitening chain that we own. And when we invest in the business, doubled LTV or rather double lifetime revenue per customer, which sounds like a small thing. But by doing that, we 2.4X revenue and we 7.5X profit per location. That's why I bought the company. I was like, oh, I can crush this. And so I say that as a good incentive for you in terms of making it worth it. Like you might be able to double or triple or maybe quadruple the profit of the business by simply keeping going from churn being half people leaving to only 20 or maybe 10 % leaving every year.

20:09If you do that, the thing will just grow like crazy and you'll just feel good about it. So the who to solve that problem is there, is a customer success person and then mapping the journey. And there's probably a little bit of tech stack that you need to automate a good deal of it so that you don't have as much operational drag. Awesome. Thanks so much. You bet. Thanks. How's going, Alex? Good to meet you. I'm Austin. I sell medical student coaching a lot of medical okay all right two medical students of course yeah um for five years straight the exact same stats yeah zero upward trajectory mostly due to time constraints I just finished up with my vascular surgery training two three weeks ago so now I'm able to contribute more time to the business you're a doctor yes sir but you don't practice medicine I haven't started yet and you're like wow I could just start surgerizing or I could keep doing this thing that i make the same amount as surge rising exactly um which i'm supposed to start in a month uh which is a whole nother conversation what are you gonna do depends how that was how this conversation goes that was initially gonna be my first question and then i decided against it and here we are yeah you're good i figured i knew what you're gonna say for that one yeah what am i gonna say there's a much higher ceiling for the company which i've been working on essentially an hour per day for the last five years and doing what i will make for 100 hours a week for the upcoming pursuit.

21:27Well, you have a focus issue. Yes. Put a star by that one already. I'll explain what I mean. I mean, like, you basically have two businesses. One is you being a doctor. The other is you teaching how to get into med school. Right. Or do well in med school. Okay. So, I mean, you probably know what I'm going to say. Yes. Imagine if you worked more than one hour a day. Imagine the possibilities. Absolutely. So, I tried to... I'm going to try... One hour is so nothing. It's insane. Like, I'd like an hour is like my rounding error for i don't even know it's like for the i don't even it's absurd it feels like a lot when you're already burning the candle at both ends but i know there's definitely more potential so my actual question is throughout this uh last two days i figured out how to fix the supply constraint which was myself my own time for the coaching for the medical you mean the one hour yeah all right so the next issue inherently is going to do you know how you're gonna 5x this business you're gonna from one hour to five hours a day start at five be done by noon you're already a retired doctor just act like you know something like that so the next issue is gonna inherently gonna be a supply issue so maybe you mean demand sorry uh demand issue guys are so contest not an issue i personally have created over 20 000 pieces in the last five years yeah um put it out on all platforms how many units do you sell a month generally between five and ten and how much price point nine thousand is our most common price point which we're gonna another thing i learned is we're gonna axe our lower ticket stuff which was cannibalizing our mid to high ticket so 9k is what we've sold 80 percent of our revenue for the last five years how many leads a month do you get good leads maybe i want to say 15 to 20 really that seems absurdly low are you youtube instagram where are you youtube instagram twitter uh facebook seems crazy we have a ton of friction in the sales funnel which another thing yeah like my bet was going to be your sales motions fucked up yeah probably if they get on the sales call if they make it to that point if i take the call it's an 80 close rate my sales guy is around 30 to 35 so the friction was built you're probably sitting on like a three or four or five million dollar business right now if you change nothing I mean assuming you work yeah oh that's not a problem for sure yeah so to increase the amount of leads that we get one of the biggest problems that we've ran into is getting overseas leads we put all of our targeting for our ads to be United States specific other countries just due to the conversion rate well you're doing content so what percentage is coming from ads versus content or like organically versus paid about 50 percent of our leads are from direct outreach from our va and then about 25 and 25 from ads versus organic you mean organic they don't they just go through the funnel and stumble their way through the gauntlet call yeah yeah i can't even do it right now but i'm i can i can almost guarantee you that you have a sales motion issue so if i were to fix this i would probably my goal would be i would want to break your business by selling so many people that you would feel so panicked and have like crushing anxiety that you would then be forced to not be the doctor thing because you'd be like holy shit i just made like three times or four times by monthly revenue this month which means i have a chance at making more than i do as a surgeon and you can always go back to being a surgeon so like that's like it doesn't you don't unsurgeon right so sure yeah so you can always just go back if you really want to so tactically you think should i hire more dm setters should i crank the ad spend to get to that point where the leads are overwhelming me and i have that crushing anxiety to honestly we have to i don't know if like the team got a chance to look everything but like we have to i'd have to look at the product it's going to be more tactical it's gonna be like what's the lead magnet how are we qualifying leads what what's the motion that they're going through like what's the agenda for the call how are we nurturing the pride of the call like if we just fix those pieces like there's probably a double or triple sitting there and then my goal is that you're like, holy shit, what will I do?

25:27And then we'd have to look at the model because it's probably super, actually, you might not be that inefficient. You're working 17 minutes a day. So we'll have to look at the delivery part. But yeah, I'd probably just want to like crank demand because if you can, if we, would you be comfortable working six hours a day? I'd be comfortable working 20. Okay, cool. Well, you can't do that. So let's just - That's what I did the last five years. Let's settle at 10, right? Let's just go crazy, you know? 10X, bro. And so we 10X your time. and so as a result we need to like if if that allows you to 5x the business by 10xing your time because you're both demand and supply sure that would get you to 2 million bucks a year without really adding a huge amount of operational overhead and you'd still have six hours to kiss the dog and do whatever you want to do sounds good yeah i think that like sales motion has to get analyzed it's beyond what i can do right now sure but if it's just laddering up a level strategy question of like how should you allocate your time to get the highest return i want to be clear there are surgeons for sure that do 10, 15, 20 million bucks a year.

26:25Like there are, I see them that come through here. They typically are plastics or they're hyper-specialized and have built a big organic following for being the best at. And those guys usually run somewhere in the name of like 70 % margins. So like there's money to be made if you know, like if you're good at marketing and you're an exceptional surgeon, then you can make a lot of money. But if that's not where your heart is, because I'm, is it where your heart is? Probably not. Yeah, fair. Then if you already know that now then like why bother walking down the path that you already don't you don't even want to do it you haven't even started yeah i'm pretty sure like yeah like it it only gets worse so yeah i think you need to make that call and then you'll open up your time and then we can obviously have with the sales the sales motion stuff sounds good thank you thank you but hey alex how are you a long time listener for some caller oh um my name is ezra cohen i sell uh low ticket digital video products to churches, like motion backgrounds.

27:21I was going to make the, like doing better than I deserve, you know, sorry, keep it up. Sorry. And then like video editing assets, like film transitions, color overlays to filmmakers and editors. So you sell to churches and you sell to editors. Yeah. It's two separate brands. Okay. And I understand what you're going to say. I know what you're going to say. I've been advised by your team so far that I should actually keep both. They're both important. And basically they're kind of under one umbrella. even though they're different avatars. I am at 1.2 million total bind. Okay. About 350 on the film editing side, but I do about an hour a week on that.

27:56And so even lower, an hour a week. That's right. The other one I'm kind of going all in on. So you're bringing 6 ,000 an hour. Yeah. On that side. Okay. Yeah. And the other one I'm kind of going more all in on, and that's around 750. So between those two. Okay. That one takes all the rest of the hours. Yeah. I feel that's what is stopping me is, again, it's low ticket. Yeah. ranging between like 29 bucks or like no the church is like we have that's recurring revenue that's 348 a year or 708 a year okay low still but it's above our market what i feel is stopping me is not understanding the right money model to only fail and take this i mean i have 170 000 customers okay uh so i think it's kind of what you're saying of like a lead i have a very large lead magnet pool that i could sell into bigger things on both sides yeah um but i want to understand how to do that best.

28:46Okay. I'm going to ask if you can just rapid fire answer for me. So the AV people you sell digital assets to? Sorry, say that one more time. Tell me who you sell what to again real quick. Video assets to video editors. What does that mean? Color presets, film transitions, filling burns. Template type stuff. Grains, things that your team would use. In their own edits. Okay. And then on the church side, what do you sell exactly? Basically motion backgrounds like that, but better. Okay. Yeah.

29:18Okay.