How We Help Business Owners Turn Business Value Into Personal Wealth

Welcome everyone to today's webinar presentation. My name is Ryan Walker. I'm a financial planner and investment advisor. I'm joined today by Kim Chan from Premier Consulting Group. The purpose of today's webinar presentation is more specifically for business owners or those who are looking to learn a little bit more about business owner techniques and specifically how Kim and I incorporate business value into personal wealth, turning that into long term wealth and building that as well into a holistic financial plan. Before we kick things off, I just want to point out that we represent two entirely different firms. I'm more on the investment and financial planning side of the industry. Kim is more on the consulting and implementing business improvement side of the industry. Kim go ahead and say hello. Hi Ryan. Thank you. Hi, everyone. My name is Kim Chan. I am a partner with Premier Consulting Group. And as Ryan mentioned, we deliver value with our clients and through business consulting where we provide value through either value creation, digital modernization and leadership as a service. And we'll talk a little bit more about that later on. But back to you, Ryan. Ryan. Thank you very much. I'm really excited to be co-hosting the webinar with you today, Kim. We have a lot to cover. So I'm going to get started, share a little bit more detail about mine and Kim's background and professional experience. But ultimately, we work primarily with business owners and we've identified a lot of synergy both across the financial planning side of the industry and consulting side. So let's get started with a little bit of my background here and then we'll bring Kim back into the picture here. So I've been in the industry for over 15 years, most of that time as a financial planner. You'll notice the initials after my name here, CFP and CEPA. Those stand for certified financial planner and certified exit planning advisor. That brings some unique education and experience to the table because I'm able to bridge the gap between personal financial planning and business planning, particularly around a future exit and understanding future valuations, tax ramifications, exit planning options, things like that. As I mentioned, I work more on the financial planning side of the industry and incorporate the projected business value and income projections from a business into a holistic financial plan. I'm here representing Stansberry Asset Management. My firm was founded back in 2016. And today we're proud to say that we manage over $1.3 billion in assets under management and have office locations throughout the continental United States. I'm beaming in from Camas, Washington, but we also have a Bay Area, California location, a location in Dallas, Texas, and two offices in New York State. Thanks, Ryan. My name's Kim again. I'm actually a, I've been in the corporate world or the consulting space for over 23 years. And I've had multiple chapters in my life. I've had a chapter where I've, I was basically in pure finance. I was a CPA, former CPA, graduated from that and then moved on to basically working in hardcore operations and technology roles. So the last role I had, I was a global VP of strategy and change management. I've also had multiple roles in technology, leading business systems teams, also multiple roles in what's called operational finance. And we can talk a little bit more about how those apply to my firm. But as far as my firm goes, we look at strategy consulting. We help support providing businesses, you know, cost optimization solutions. We also help provide technology solutions. And then, of course, we look at process. We look at improving those processes and providing more value back to the business. Many of our clients actually approach us when they're looking to either scale the business or they've been stagnant for a while. And I'll have an example later on during my section where I'll explain kind of a good opportunity that we've had with a client and then another opportunity where a prospect decided to wait, of which I think it's probably not the right decision for them as they're planning to exit their business in the next five years. But I'll turn it back to you, Ryan. Thank you very much, Kim. And I'll just say if any of these strategies that we're going to be walking through resonate with you and you're thinking about how to get started with implementing some of these ideas, Kim would be a wonderful resource to touch base with. So today we're going to be highlighting some of some of those strategies and ways to improve business operations and such. So take notes along the way and reach out to Kim as well with any questions or ideas that you might have as we progress here. But let's start off with today's roadmap. So, you know, we'll touch the tip of the iceberg in a lot of these topics as we progress here. So first off, we have, you know, just a brief overview of what the differences are between a lifestyle business and a transferable business. We'll also talk a little bit about why owner dependency matters, specifically for business valuation and prepping a firm, your firm, for a future sale down the road or even bringing on future partners or other business associates. How owner dependency can really alter the playing field when it comes to the numbers that truly matter. We'll also take a look at different levers and ways to reduce owner dependency over time. It's not a, you know, a quick overnight sort of transition, but a methodical transition process that can really drive value in the long run. There's a proven methodology called the value acceleration methodology. So I'll highlight some of the goals and stages associated with that value acceleration methodology process. And then transition into understanding how business value can truly be incorporated into a personal financial plan. It's really important not to look at those two things in a siloed approach to consider business value as part of integrated into a personal financial plan. Review some exit options, especially when it comes to succession planning and what the long term ownership options might be as well. And then we will wrap up with a quick overview of how my firm, me and my firm, Stansberry Asset Management, might be able to help along with Kim at Premier Consulting Group. First, a comparison a bit in terms of what a lifestyle business is compared to a transferable business. This is very conceptual and there's no wrong way to run a business. You can have success in both types of businesses, but wanted to highlight the core differences before we get started here. So a lifestyle business, ultimately, it supports owners income and their lifestyle. So it provides an income stream, but potentially not as much enterprise value in the future. It tends to rely heavily on the owner personally to actually run. And this is because the owner might be the primary producer or the key relationship builder for the company. Also, documented processes tend to be pretty limited where most business operations and processes, they reside up here in the noggin, you know, as just common sense and a repetitive sort of process that business owners go through. But it's not actually documented. That can impact business valuation and the transferableness of a business in the future. There also tends to be a minimal management team, not very much depth when it comes to leadership as well. Clients tend to be loyal to the owner, not necessarily loyal to the business itself. And also cash flows tend to stop or decline as soon as the business owner leaves. This creates some problems, some issues when it comes to an owner wanting to exit the business in the future. So some of those implications include that it becomes harder to sell. It's harder to find a buyer that might be interested in absorbing a business that is highly owner dependent. And that results in lower multiples offerings. It's often sold at liquidation value, not at a higher enterprise value that might be commanded if a business is less owner dependent. And sometimes the owner, if they do find a potential buyer, needs to be involved very heavily after the sale to help support the transition. Now, on the other hand, a transferable business, it really functions as an independent asset and actually as an investment. Some of the main characteristics include diversified revenue streams based off of the systems, the team and the brand of the company. Multiple providers or employees generally provide that type of revenue stream. And processes are documented. They're not just up here and logged in as memory. They're documented in policies and procedures. And owners are generally not as relied on for regular and ordinary business operations. There's a strong management culture as well and structure. And clients tend to be more loyal to the business and to the brand rather than to the personal relationship with the owner. The exit implications become much different. Transferable businesses are far easier to sell. They have much higher valuation multiples. And there's also there tends to be a larger buyer pool of interested parties when it comes time to actually explore a future sale. The owner as well can exit more quickly. In many cases, they don't usually need to stay on for a long period of time once exiting a business. If the company is less owner dependent and there's much more negotiating leverage to when it comes to, you know, that the final sales price. So in terms of putting these differences into a bit of an illustration, that's what this slide does. It puts two paths highlighted into a visual to give a little bit of a better representation. Path one is where a business is much more oriented on income. Now, prioritizing income over transferability. Again, it's perfectly fine. Usually what that means from a personal retirement and financial planning perspective is that the business owner needs to be much more mindful about saving outside of the business and building wealth through IRAs or 401ks or other tax efficient vehicles. In order to have a value available to pull from for future cash flows when they're retired. On the other hand, path two builds enterprise value, transferable value in the future. And this is, of course, less owner dependent. It can lead to much higher multiples when it comes time to actually put the business up for sale or to work with a broker or M&A type advisor. But this just shows that there are two distinct paths. Path one does tend to be a bit more time intensive for the business owner. Path two, you can start to delegate responsibilities of the owner's role to other parts of management or leadership. So it can sometimes lead to a higher quality of life as well because you're less involved in the day to day operations of the business itself. Hey, Ryan, can I just add on here? So on the business consulting side, we met a lot of prospects and clients who have this in mind. And, you know, I've seen it where the business owners underinvest in certain areas and typically it's technology. And without those systems in place to be able to be transferable in this case, it ends up devaluing the entire acquisition. I've seen it as large as enterprise value decreasing by 30%, which is significant. And primarily because the acquirer knows that once they come in and they acquire the business, they will have to make a significant investment in modernizing the entire company. You know, we've had a recent discussion with a prospect where they distribute beverages to 700 locations. They visit every one of those locations personally with their team, of which we had made a recommendation to provide, you know, a service or implement an ordering technology for them so that their locations can order directly. And they can see that on a regular basis and make those trips more valuable. Because today, right now, they're making these trips. They're visiting all these 700 locations and asking whether or not, you know, they need inventory, which is a weird thing, a weird concept. And, you know, I know for a fact that when it comes time for that company to exit, the question will be, well, why haven't you guys created an ordering system, even if it's a website? To be able to be able to manage inventory and make your trips more valuable. So there's a lot that we see before a business or an owner decides to exit. That just is like 200% exactly what Ryan and Stansberry is trying to encourage. So I just wanted to echo that and provide a tangible example of what we've seen in the business consulting world. So those real world examples can really, you know, resonate, I think, and provide a bit of a glimpse in terms of, you know, some of the areas that you've been able to help others improve. Thanks, Kim. Yeah. So I want to transition now into some of the key ways that I've identified, that we've identified to leverage, to take advantage of that. You could actually take action tomorrow to start to reduce owner dependency a bit. As I mentioned, they do take time to implement and could really be beneficial longer term. So some of the primary levers to reduce owner dependency, which, as Kim and I have described, can drive business value in the future when it comes time to a future exit or bringing in a partner or what have you. So the two themes that you see here at the top both involve people. So a number one focus area is to build a secondary layer of leadership. And we understand that that is an expensive investment. Investing in leadership and people and hiring can be expensive. So it may not be something viable right around the corner, but there are fractional components of leadership that could make sense, like a fractional CFO that could help take on some of the financial reporting requirements. Fractional CEOs to help generally, you know, run the oversight of the business from a strategy perspective. Or, you know, an outright hire may be more viable as well. But what this allows you to do is to build in continuity, scalability, buyer confidence, because there are other layers of management that can absorb the owner's role when they ultimately decide to step away from the business in terms of an exit. The second theme is also people. And this is shifting the key relationships that clients have with your firm into the organization rather than directly with the owner shift to other members of the organization. And this can actually improve client retention, some of the benefits here. And it also reduces key person risk, that key person being the owner. If there are more conversations and relationships being built by other members of the organization, that also reduces owner dependency and increases long term business valuation. Kim spoke about technology. That's highlighted in this third theme process. So documenting how the business operates is one way to go about that. Integrating newer technologies into the business structure falls within this category as well. That improves operational efficiency and helps support a business's growth through enhancing efficient technology as well. It can, again, take some time to adopt to that new technology and to really scale and make the most benefit of it. But the sooner you start, the quicker or the sooner you'll see some of the positive impacts of that. Risk. So diversifying revenue and the customer base as well. If the majority of your revenue is coming from just a handful of clients or customers, that's considered to be a more riskier business than if revenue is coming in from, you know, say, 100 potential clients. So diversifying that revenue stream can help drive value as well and lead to earning stability. And then finally, the financials, making sure that they're clean, that they're up to date, that they're documented, that financial reporting is meeting all regulatory expectations. Really prepares a company to continue on with their due diligence and enhances transparency when it comes to a buyer, you know, actually taking, you know, this deal seriously and actually being able to crunch the numbers in terms of where they view being able to incorporate that business value and structure into their own model. So, yeah, some of these primary levers, obviously reducing owner dependency and bringing greater enterprise value in the future. So this brings us to value acceleration. As I mentioned, this is a proven process. It can be used to help transition a business from being more owner dependent, from being more lifestyle oriented into being more transferable and with a higher valuation over time. The process does take time, so if you're looking to sell your business in 3 months or 6 months, or a year, likely the value acceleration methodology's impact is going to be limited. Now there will obvoiusly be some benefits that can be added in a short period of time, but in order to see the full benefit, usually the runway that we'll need to look at is about 3 to 5 years to implement several material improvements to truly enhance the business value over time The improvements can really be drastic in terms of valuation. Sometimes you can see two to three times or sometimes even more than what the liquidation or enterprise value might have been before the value acceleration methodology is put in place. So here's an illustration of what the value acceleration methodology looks like. There's three gates, the discover gate, the prepare gate, and the decide gate. We could spend an hour really going through this framework, but I'll review it in just about two or three minutes here to keep things high level. The idea behind this is that these three stages can help implement drastic improvements in a relatively short period of time and that it's repeatable. So stage one is focused on identifying goals in terms of business improvements and a prioritized action plan to execute on those goals. Stage two includes the execution. So it's working on the business, working on personal improvements as well to drive improved valuations in the future in what are considered to be 90 day sprints. So three month periods where you're trying to execute on these prioritized action goal items. And then at the end of the 90 day sprint period, we move on to the decide gate. That's stage three. And that's when the owner and the business asks itself if it's ready to sell, if it's ready to explore exit options, whether to continue to grow, whether to keep the business or exit. And I'm going to break down these categories in just a little bit more detail here. But the idea is that this 90 day sprint cycle can be repeated. So if in the decide gate, the owner and the business decides that they want to continue to grow valuation, to grow the business and to implement these process improvements, then you go back to stage one, back to the discover gate. Look at that prioritized action plan, see what's been completed and then move some other goals up, you know, up to the next steps in terms of implementing. This is an example of what a sample action plan might look like. There's different ways to visualize this. This is just a simple Excel spreadsheet where different business categories have identified tasks and goals to complete. There's a column for the status on where things stand, whether it's been completed or in progress. And then a timeline period broken down by months because I had mentioned the 90 day sprint period. So this has a three month completion type schedule. What I would highly recommend is that you as a business owner, if you have team members that you can assign some of these low hanging fruit task items to use the opportunity to delegate. For instance, documenting processes and improvements, updating a policy and procedures guide. Oftentimes that can be delegated to other team members that might be taking on those responsibilities. And then if there's ever a role change down the road and that individual has has left the company, it would be really quite simple to help integrate a new employee into that particular role and get them up to speed because those policies and procedures have been fully documented. So the next slide that we have here, it just highlights that final stage, that stage three, the decision gate, which is, again, repeated and asked yourself every 90 days. Some of the considerations that need to be made when you're in that that stage three are assessing the market timing. So how is the economy doing? What is access to capital and lending and liquidity looking like? How how mature the industry is that you might be operating in and whether the timing of an exit makes overall sense, considering market dynamics outside of the business itself? And evaluating your business lifestyle and your personal time chart, too. So usually it makes sense to consider an exit after multiple years of revenue growth. Once you see growth begin to stagnant, to plateau or decline, it becomes much more difficult to receive high valuation multiples if you're in a plateauing or declining revenue structure. So striking when the iron is hot. Once the business has several years of moderate and sustainable growth, that's a good opportunity to consider an exit. But it all needs to align with your personal time chart as well, your personal timeline, and whether you're ready as an individual to actually exit or to continue to grow the business. So working on the sales strategy or to explore the transition options that might be available. I'll get into some of those in just a few minutes, that's some of the most common transition or exit planning options there. Kim, I want to give you a second to add any comments as well before we dive into some of the exit options. Yeah, I mean, I think also, you know, growth is fantastic as well. The profitability of a company, sometimes requires will look for opportunities of which maybe your cost model is not optimized, which will give them a greater opportunity to do that if they see it. However, showing, you know, steady profitability, making sure that operations are working effectively, efficiently is very important. And having processes, like going back to the levers that you had highlighted, having those processes and technology systematized is very important. Because that just means that it can move from one owner to another without a huge disruption to the business or devaluation of what the acquirer bought. So those are things to consider as you're going through it. But this is a fantastic cycle that Sandsbury has for evaluation. Thank you. Thank you. So I wanted to take a minute to talk about the two most common exit categories and how they differ a little bit in terms of valuation and maintaining company culture. So the two primary paths would when it comes time to exit. So say you're going through this, you know, 90 day sprint period, you're at the decide gate. You've come to the conclusion that as a business owner, you're ready. The market is showing signs that it's a good time to pursue an exit. And it's a good, you know, time frame in terms of the company's growth and operations and profitability. These are the two categories, primary categories that make the most sense to explore. It's pretty easy, I feel like, for most owners to have a feel for which avenue to pursue based on their personal goals for the company as they see it longer term. So on the left side, you can see an inside transfer. So this would be transitioning the business to another family member who may or may not have been active in the business up to this point. So that could be, you know, a child, a spouse, you know, another member of the family that might have shown interest in taking over the reins in terms of the business operations. Another inside exit category would be a management buyout. As you've gone through these 90 day sprint periods in the past and you've made some drastic improvements, likely there's going to be a level of leadership and management now added to the company structure. So being cautious about how to approach management regarding a buyout potential, but then considering that if you especially if you want to maintain the culture of the organization or the firm that you've built over time. Potentially exploring a sale to existing partners. If you have existing investors in the firm, it could be worthwhile to, you know, to consider offering the sale to some of those existing partners. And then finally, selling to employees. If that's a possibility, both financially and structurally, it may make sense to consider a sale through an employee stock ownership plan, which also affords some tax benefits, which we can get into the details in a future webinar. But selling to employees could be a way to prioritize maintaining the culture of the business and also ensuring that these employees, you know, continue to have jobs and have opportunities to grow with the organization longer term. However, one of the bigger pitfalls with an inside transition is that the valuations tend to be a little bit lower than what you might see on the right side. If you were to sell the business to to an outside buyer, which actually accounts to about 50 to 70 percent of all transfers, selling to a third party, for instance, in the form of, say, a private equity firm looking to to to buy in or through a third party buyer that might be identified through an M&A advisor or a business broker. That sale to a third party is sometimes very attractive from a valuation perspective. Recapitalization is another option where if the owner still wants to have some skin in the game, but they want to sell a portion of their ownership. It can get very varied in terms of the structure of how that's put together. But recapitalization could be an avenue to pursue when it comes to an exit option. Very rarely companies will go through an IPO and mostly because they tend to be really complicated from a regulatory standpoint. But if you have a large business with a lot of historical profitability and earnings growth and in an IPO seems like a natural next step, it, of course, should be vetted out entirely and to understand what the risks and rewards of IPO might be. And then finally, this isn't a preferred option, but an orderly liquidation of assets. Primarily, this is going to be reserved for a lifestyle business that still is highly owner dependent and has not gone through the value acceleration methodology or reduced owner dependency. The liquidation might be might be the best choice in terms of getting some value out of the business over time. But again, it, you know, it all depends on the owner's goals, on the company's goals, whether or not culture takes precedence over valuation, valuation on that right side of the of the slide here. All right. So we've come to the part of the presentation where I wanted to discuss briefly about how to integrate business value into a personal financial plan. That's a lot of what what I do when I when it comes to financial planning with business owners. In other words, the business value, it needs to be integrated in order to support retirement and some of your other goals. What I'm highlighting here is just an illustration of some questions that you should discuss with your financial planner or reach out, reach out to me if you wanted to discuss if you don't have a financial planner or your planner has not brought up these questions proactively. They should when it comes to interactions with a business owner. So I'd be glad to walk a walk through some of these considerations with any business owner who might be watching this presentation today. But it's it's really, you know, conversations about what the end goal is, what's next in terms of personal life, relocation, downsizing, you know, moving to Tahiti and living, living on the beach or integrating more closely to maybe other family members. For the grandkids or taking up golfing and what that all looks like when it comes to your next chapter after the business has been sold. So we need to ask ourselves, how much do you need to pull from the business in terms of capital in order to meet those personal and retirement planning goals? And, you know, understanding how much the business can actually contribute so that we understand if there's going to be a shortfall there. And then determining the best time frame of whether to grow, keep or exit the business and actually pursue some of the options that I shared a few slides ago. Again, it's like a three legged stool when it comes to the master planning process. So it's very important to have a personal financial plan developed, a financial plan and then a business plan. Some of the other categories of topics that should be evaluated between a business owner and their financial planner. Discussion about personal goals and objectives. As I mentioned, a full balance sheet review that includes any wealth that you might have outside of the business. How much your family is involved, spouse, children, any other family members, either in the business or your personal financial plan. Understanding the difference between a need and a want. Basic living expenses are a need. Annual trips to, you know, to Europe around the continent tour might be more of a want. And understanding how many of those wants maybe should be classified as a need and how many of them can really be afforded in terms of a long term retirement plan. Going through an analysis of your exit planning options when it comes to the transition of the business. The deal structure is really important because it can help understand what the tax ramifications might be. Getting started on that deal structure sooner rather than later can be beneficial because we may be able to help you identify a business structure or deal structure that would mitigate tax ramifications over time if that's a priority. And then also personal tax planning, understanding what the net proceeds after taxes of a business sale are going to be looking like and how to integrate that into the personal financial plan The personal financial plan. Developing an advisory team, like a qualified CPA, A state attorney, a consultant, like Kim, MNA advisor, etc. And me serving as the quarterback of that dynamic, that type of relationship into holding these other advisory team members accountable And then, as I mentioned before, what life might look like after your business is actually sold. What does retirement look like to you? Owning a business isn't just about like the potential enterprise value. It's also about growing wealth outside the business. These are just some key strategies or plan options, retirement types, retirement account types based on business sizes here that you could pursue when it comes to designing a retirement plan that is most beneficial for the owner, but also for employees and from a tax implication. I'm not going to cover all of the topics here, but you can see I broke it down by solo owners, very small businesses to growing businesses with some employees and then larger and highly profitable businesses. The types of retirement plan options that tend to be most beneficial. Stansberry Asset Management can help with the majority of these plan options or can refer you to a third party who may be a better fit to implement some of these retirement planning options. And then the final column would highlight some of the primary benefits. But clearly, even without a future sale, these tools can help convert business income into long term personal wealth, depending on what your long term goals may be. So now I want to transition into just explaining how Stansberry Asset Management and I can help support business owners. This is just going to be a quick rundown. It's not an extensive list. Feel free to reach out to me with any questions that you might have. So here's a slide that just provides a quick overview of many of the available services I talked about, including holistic financial planning for business owners. That's core and front and center, but also ongoing investment management, retirement planning as well for business owners who may wish to retain, wind down or liquidate their business at some point in the future. I can help business owners define what business value is needed to support their lifestyle and retirement goals in the future. So at least that way you have a goal in terms of what your business should be sold for at some point in the future, a minimum threshold there. I can help with insurance review, including buy, sell and key person coverage insurance. Coordination and quarterbacking with your tax advisors, estate attorneys, valuation specialists and M&A advisors too. And then determining a business owner's readiness to exit, helping to prepare a business for sale and then post liquidity investment and income planning down the road. Our advisory fees are based on assets under management outside of the business. So we can manage 401ks, IRAs, traditional brokerage accounts. Those fees tend to range between one to one and a half percent of assets under management per year. And and that could vary a little bit depending on the amount of assets under management. So please reach out to me for a formal quote in terms of what what the fee structure might be. And our investment minimum starts at five hundred thousand. However, if you're saving aggressively towards retirement right now and you happen to be slightly under that minimum, certainly give me a call. We can we can usually accommodate, particularly if you're making larger savings additions to your portfolio over time. So now I'm going to pass the baton over to Kim. He'll give us a walkthrough of some of Premier's value offerings and and their services as well. Yeah, a lot of great information, Ryan. You know, I think business owners are so, so busy, right? Operating the business. They don't take the time to kind of think through, OK, how do I exit? How do I have successors? How do I build that more evolved organizational design within their business to move into that next category of growth or exiting? You know, Premier Consulting Group was founded on basically a few different principles. We have three different pillars where we provide services for our prospects and clients. Value creation, which is more strategic, looking at it from a financial lens on where to invest. How do we actually transform the business and providing solutions around those problems? Digital modernization focuses more on technology. So we we emphasize implementing technology to automate as much as possible. We also look at people, process and technology similar to those levers that you had shared to be able to help businesses scale or grow or become more efficient. Leadership as a service, which is, I think, more known in the market as fractional leadership, of which you talked about. We also provide fractional CFO work, CIO work and also chief growth officer type of experience as well. So with that, I mean, the team itself is very experienced. We've done some pretty large global reorganizations in corporate environments. We've also helped clients get funding for solutions that they want to implement in their business. Significant amount over 200 million dollars. We have a lot of experience internationally. So roughly 30 different countries worldwide. Our breadth is is fairly deeper. Expertise is in strategy, finance, technology, procurement and HR. And then we've done a lot of systems implementations. So more so that I can count. But they are usually focused on upgrading a system or a system with too much technology that of which we have to review and revise basically the entire process for the organization. So that's a little bit about what we do at a very high level. So what does that mean to your organization? So I think first, SMBs are small to medium sized businesses. This slide is easier to understand. We have three different pillars of financial operations and technology of which a lot of our SMB clients get a mix of this from us. You know, on the purely financial side, we provide guidance from a business standpoint, not a not a personal standpoint. We provide services in budgeting, planning, forecasting. We look at reporting. We help improve and make the reporting more meaningful to the business. We provide some small business tax strategy, not the complex corporate tax strategy for those companies, but more so for SMB standpoint. We look at M&A strategy. So very similar, a lot of synergies within Stansberry. What is the exit and what does that look like and how do we prepare them for that? And when we look at optimizing costs, KPIs provide a lot of reporting solutions, dashboards. We have our own data platform of which we provide KPIs and reporting for our clients. And then we also have a governance side where we review financial controls, accounting and bookkeeping for our clients. So that's that's really where our bread and butter and our competency is for the business. We also do have operations and technology solutions as well. I won't go through each one of those in detail, but I will say that depending on what you're looking for, a mix of these services typically are what we provide. And we are able to provide them in a way that adds more value back to the business. Our larger clients, our enterprise clients typically only want help in one area. That could be growth. That could be the actual system itself. That could be helping them with their data improvement, their reporting. But typically we don't provide all these services for large enterprise clients since they have a team and an infrastructure that support them already. So these are just some examples of what we're doing for clients. We have three categories that we put clients in. So pre-revenue to small, small to medium and large enterprise. And this is usually segmented by either annual revenue or employee size, employee count or a mix of both. It really comes down to where they are in their growth cycle in the company. But as you can see here, multitude of industries, you know, anywhere from manufacturing, creating YouTube content, all the way through large international global consulting firms. So quite a wide variety. And as far as services that we provide, scaling, optimization, advisory work, accounting, financial services, technology advisory, organizational design, which is something that's always interesting and exciting to get into. And then quite a few benefits. A lot of them are emphasized around improved decision making. And improved decision making could be better data, more timely data. It could also be new data of which those business owners or leaders just don't have insight into today. And we provide value in that regard. We also look at providing, you know, different strategies around tax, legal structure, entity structure, and also providing, you know, strategic roadmaps for our clients. So like Ryan had indexed earlier or referenced earlier, this could easily be like a six hour webinar. But I wanted to make sure you guys at least had a good understanding of what Stansberry does and what Premier Consulting Group does. Well, all right. That comes down to our last slide, the client examples for PCG. We'd like to thank everybody for investing their time in attending this webinar. So you can reach me at Premier Consulting Group, which is separate from Stansberry Asset Management, you know, on our QR code. Or you can reach out to me on LinkedIn under Kim Chan. Or you can reach me at my email, which is kim.chan at consultpremiergroup.com, of which you can see on this slide here that you can email me there. Great. I want to thank you very much for your partnership today, Kim, and helping to put together this presentation and for the synergies that we, you know, that we have together. I think we, you know, shared a lot of really sharp examples to folks who hopefully can see some value here in terms of reducing owner dependency over time. Feel free to reach out to me as well with any financial planning type needs that you might have. I'm a local resource based out of, again, Camas, Washington. And scan a QR code for my contact information or reach out via the information that you see here on the screen. But I wanted to thank everybody for joining the webinar today. And hopefully we'll see you again next time. Take care, everyone.