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But let's talk about Transworld.
What for our listeners? 

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Why don't you guys just go ahead
and introduce yourselves, Tell 

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us who we are and what you do. 
You want to start. 

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Yeah, I can start. 
So my name is Steve Tone. 

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Sean is the owner and a friend 
and he reached out to me and 

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knew I had business experience 
in the past. 

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We had a company in Lake George,
the Pedal Cab Company, and we 

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had three seasons there. 
It was fantastic, the business 

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community and Lake George 
incredibly supportive. 

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And just because of regulation, 
we ended up closing it down and 

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I had an asset sale. 
And so I, you know, I didn't 

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really understand how to sell a 
business. 

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And so we just sort of sold 
everything and walked away. 

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And just this winter, Sean 
reached out to me and said, hey,

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you have this experience. 
What do you think about coming 

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on board and helping people sell
and, and educate people about 

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exiting businesses? 
And I got super excited about 

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it. 
And yeah, I joined Transworld 

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Business Advisor of Albany and 
it's been amazing just working 

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with people and companies and 
helping people who have had just

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these dreams of building these 
great brands, these great 

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companies, and then trying to 
help them exit. 

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Cause a lot of times they're 
working in their business 

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grinding and they're like, oh, 
I'll just sell this thing. 

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And they don't have really a 
runway or understand how to do 

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that. 
So I came on board, really this 

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spring was down training in Palm
Beach, July. 

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And yeah, we met you at that 
chamber mixer. 

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Amazing. 
So yeah, that's my. 

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We love the Chamber. 
The. 

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Chamber's been great. 
Yeah, Incredible. 

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That's the Adirondack Chamber to
everybody, that Tricia and 

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Amanda, those guys are just 
amazing, so. 100% big plug. 

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Big plug, I know. 
Yeah. 

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I love you guys with the Albany 
County Regional Chamber too. 

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A little shout out to you guys, 
very supportive. 

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So yeah, same thing. 
I have a a long history and I'd 

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say corporate world doing big 
systems, big teams. 

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Got a little tired of that, want
to do something on my own, 

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started buying real estate, 
ended up becoming a real estate 

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agent, then in real estate 
broker and dabbled with 

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commercial real estate like 
that. 

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And always through my corporate 
world, we were a a big company, 

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Fortune 100 company. 
We were the general contractor 

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building a large communication 
systems. 

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To do that successfully, we had 
to interact and hire small 

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entrepreneurial companies. 
And you could see how sensitive 

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they were to economic shift. 
And the things that we were 

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asking them to do were we were 
demanding and we had to keep 

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them healthy and we wanted them 
to be healthy. 

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And we was a there was a mutual 
ecosystem we were both feeding 

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off of. 
I had a big respect for these 

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small business owners because 
they helped us become 

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successful, which made our 
customers successful. 

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And it, it's all kind of, it's 
all intertwined. 

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And we, I had a big respect for 
that. 

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And I did not like seeing as now
a real estate broker watching 

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small businesses who are smart 
enough to try to sell the way 

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they were doing. 
It wasn't maximizing the 

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potential. 
They were always putting real 

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estate first. 
And that's not what 

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entrepreneurs care about. 
The real estate is a tool like 

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our microphone here, right? 
That's just a tool that they 

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need to house their equipment 
that they do their work in. 

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So talking to people we all have
in our lives that you don't 

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really listen to, you're they're
telling you what you should 

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consider, but you're like, 
whatever, I don't need to hear 

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from you. 
Eventually it clicked with me 

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and I said, you're right, I 
should figure out like, where do

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businesses sell? 
And I'm not talking about 

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mergers and acquisitions. 
We're not putting General 

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Electric and Westinghouse 
together, right? 

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We're taking mom and pop Main 
Street companies, people that 

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have put a lot of blood, sweat 
and tears. 

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And how about their own money 
that they put into this and they

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need to get it back and continue
to be competitive in the market.

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So it's a, it's a challenge and 
we've found that a lot of DI 

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wires are also or these small 
business owners are DI wires. 

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So we're trying to help them 
bridge the gap between having 

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built something and then finding
a way to monetize the value of 

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that whole thing they've built, 
not just a service that they 

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provide or the product that they
provide. 

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So in my search, I'm very nerdy.
I get into the research and and 

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my own type of our analytics of 
how things work. 

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I came across a bunch of 
companies that do business 

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brokerage and this one, 
Transworld is like the £800 

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gorilla in the space and they're
there for a very good reason. 

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They have been doing it for 43 
years, which is longer than 

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anyone. 
They have the most agents and 

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one of the common sites that 
people go to is Biz Buy Sell. 

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And the listings that Transworld
has on Biz Buy Sell, it's 50% of

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their entire market share. 
So we are very large part of 

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that global system of selling 
businesses and they've got a 

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system that's proven out over 43
years. 

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Yeah. 
And I don't need to build that 

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myself. 
Probably Steve and I could have 

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put that together. 
But why, right. 

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If it's already there and you 
can afford to buy into it, it's 

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a franchise. 
So we bought the Albany 

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franchise. 
That was a decision we thought 

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made the most sense. 
Yeah, because they do all of the

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right things, right? 
We're going to sell small 

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businesses and get them the most
money in the shortest amount of 

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time. 
Yeah, we're, we're like looking 

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at businesses under 5 million 
and most businesses, I think 

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it's 80% of the business are 
under a million. 

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Oh yeah. 
And so these folks, and I was 

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one of them, Sean's one of them,
you know, you're, you know, 

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probably similar. 
Is yeah, for sure you're 

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working. 
So hard on your business and 

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then you're like, OK, I want to 
I want to exit. 

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I'm ready to retire, be your 
grandparent, whatever it is. 

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And kids don't want the 
business. 

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How do I get out or how do I 
exit with dignity? 

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And, and also the other piece, 
I'm locating the Adirondacks and

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any time a business sells in the
Adirondacks, like I'm, I'm happy

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it's sold. 
I don't want it closed. 

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And so really one of our 
purpose, you know, driving 

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purposes to make sure these 
businesses, which are the 

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foundation of all these small 
communities do not close. 

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So how do we get someone, pair 
them with the with the right 

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buyer so that buyer can come in 
again, hopefully grow the 

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business and the people, the 
original owners or founders can 

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exit? 
Well, that's that's a huge 

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problem right now, isn't it, 
especially with with the baby 

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boomer community that is aging 
out and looking to sell their 

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businesses and they have no 
legacy program. 

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They have no plan. 
They their kids don't want it. 

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That's. 
What we want to help them do? 

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Yeah, and I keep hearing about 
it, like in the professional 

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services space, whether it's Law
Offices, accounting firms, like 

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a lot of, you know, wealth 
management manufacturer. 

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Yeah, where they're doctors. 
Dentists. 

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Yeah, it's wild, right? 
There's a silver tsunami coming.

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Yeah. 
There's going to be $11 trillion

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in small business that's going 
to transfer in the next 10 

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years, 11 trillion in 10 years. 
And that's or close or close, 

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which is terrible, so. 
I feel like I just actually had 

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a conversation with someone that
was was having that we're saying

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that they're like, yeah, I'm 
just going to close my business 

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because no one wants to. 
There's no one to take over. 

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No one wants to buy it. 
I'm like, Are you sure no one 

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wants to buy it Like. 
Well, they don't know because if

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they're a big enough business 
and there are smart enough owner

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operator, they've probably hired
an accounting firm and they 

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probably have some legal 
advisors. 

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And if they're really good and 
they're really smart, they may 

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even have like wealth advisors. 
And if you're in, if you're in 

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that trio of people, you have 
professional advice. 

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But this is not the common small
business owner. 

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Many of them don't have that. 
So they're at a real loss and 

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they need to know that there are
companies out there that will 

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help them sell their business. 
And there's a we need probably 

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three years for the really small
ones that aren't using 

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professional help all the way. 
So a lot of people ask me like, 

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what is the best advice you'd 
give to a small business owner 

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who wants to exit? 
Give me three years to get 

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maximize what you're doing here.
Like let's start reporting all 

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of your income, right. 
Yeah. 

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Like we can probably get you a 
little bit, but you already took

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it because you're not reporting 
it. 

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Any others methods that we can 
use to help document the, the, 

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the, the potential that the 
business has on, on the books? 

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100% ideally, just put it on the
books. 

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Like make your life easier. 
Let's monetize this thing to its

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full potential. 
That could take two or three 

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years to do it. 
There's other things that small 

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business owners could do to help
them build their value. 

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And you know, it'll be run 
better and it'll be easier for 

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them to run it too. 
Like just standard operating 

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procedures. 
What's my onboarding process? 

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Do we have an employee handbook?
What is our vacation policy? 

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You know, small businesses don't
like to think about that stuff. 

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But now with AI, Hey a a a right
me and I'm boarding manual. 

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It's so easy. 
And but it's the time, right, 

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because they're grinding out, 
taking care of what they do 

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instead of the business, like in
the business versus on the 

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business, that age-old thing. 
And I think it's really, we just

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met with a client, he's a friend
and he's like, I want to sell 

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his business, family business, 
second generation. 

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His kids don't want to take it. 
And he said, well, how much time

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I'm thinking like, you think you
could sell this in 6 to 12 

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months? 
And I was like, no, we had like,

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we will sell it once we go 
through your books and we, but 

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this is what you need to do. 
Keep being profitable. 

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Let us work on the marketing. 
Let's get a broker opinion 

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value. 
Let's get a real value on the 

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real estate and on the business 
and make sure you have a runway 

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here. 
But if you want to just, it's 

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going to be, it'll end up being 
a fire sale. 

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So you have to give yourself 
some time. 

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You need a runway to be able to 
get those things that Sean's 

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talking about. 
That's what I was going to ask 

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was do you find that? 
Because I have to imagine I've 

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sold one business. 
How long did it take? 

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Well, it was, it was like a 
backroom deal where it was like 

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I had someone that worked for me
and I was going to get out and 

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they end up taking it over and 
we worked out they didn't have 

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money. 
So like we didn't deal. 

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Where I kind of what I did is I 
basically I kept all revenue for

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like 6 months. 
They did their job, ran the 

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business so I didn't have to 
have any like real activity, but

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could at least guide them 
through taking it over and doing

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things the way we did it. 
And then at the end of the six 

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months they took the business. 
It wasn't like a big bet. 

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I think we did like maybe 
$300,000 in Rev a year or 

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something like that. 
But it was going to be a nice 6 

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figure income for them. 
And it was just, I was off doing

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other things and wanted 
completely out of that industry 

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and, and it worked out in that 
situation. 

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But I'd imagine that's not the 
norm. 

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I would imagine that if you have
people looking to buy a 

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business, they're not looking to
become me, right? 

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Like they're looking to buy a 
business that operates without 

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their involvement as much as 
possible. 

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They don't have to show up and 
make the widget or push the 

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button. 
That's a great question, Mike. 

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And there's all sorts of buyers,
right. 

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So you might have that person or
you may have, yeah, there could 

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be people that are just serial 
entrepreneurs and they want to 

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buy the business, but they want 
your staff to run the business. 

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They're going to, you know, 
that's absolutely. 

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But there are also folks who, 
yeah, they, they've always 

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dreamed of having this type of a
business hotel on Lake George, 

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you know, And so they want to be
used. 

226
00:10:52,280 --> 00:10:53,640
I want a campsite. 
That's my. 

227
00:10:54,120 --> 00:10:55,480
The campground. 
I do yeah. 

228
00:10:55,480 --> 00:10:57,680
It's always been a I'm never 
going to do it because I have a 

229
00:10:57,680 --> 00:11:00,120
buddy that owns a campground and
it sounds like a complete effing

230
00:11:00,120 --> 00:11:04,040
nightmare, but the idea oh, it 
sounds like so much fun. 

231
00:11:04,040 --> 00:11:04,920
I. 
Have a friend who has a 

232
00:11:04,920 --> 00:11:06,920
campground and he's killing it. 
Oh yeah. 

233
00:11:07,000 --> 00:11:09,040
Oh my God I got a guy that is 
thinking of selling their 

234
00:11:09,040 --> 00:11:10,840
campground. 
Oh man, Mike, let's go. 

235
00:11:11,040 --> 00:11:12,800
We got a buyer. 
Let me sell you send you a 

236
00:11:12,800 --> 00:11:15,280
seller profile or buyer profile.
Give us some info. 

237
00:11:15,280 --> 00:11:18,240
Yeah, I'm such an optimist, you 
know, So all I see is I get to 

238
00:11:18,240 --> 00:11:22,880
hang out Dr. Firewood around, 
say hi to people like my buddy. 

239
00:11:22,880 --> 00:11:25,040
I'm like, I know that's not, 
that's part of it. 

240
00:11:25,040 --> 00:11:26,640
That's probably the best part of
it. 

241
00:11:26,640 --> 00:11:28,080
But then there's all the other 
things. 

242
00:11:28,080 --> 00:11:29,920
All the toilets backed. 
Up right. 

243
00:11:30,120 --> 00:11:32,280
Right, right. 
Where does all this go anyhow? 

244
00:11:32,280 --> 00:11:33,600
Well. 
That's funny you say that too, 

245
00:11:33,600 --> 00:11:36,360
because that was the business 
that I sold was a property 

246
00:11:36,360 --> 00:11:39,360
management business. 
And at any given moment in time,

247
00:11:39,360 --> 00:11:41,560
we managed between like 70 and 
100 units. 

248
00:11:42,000 --> 00:11:44,640
And we did everything from 
renting, because I was a real 

249
00:11:44,640 --> 00:11:48,200
estate broker, from renting and 
rent collection to eviction to 

250
00:11:48,200 --> 00:11:51,600
property services like snow, 
lawn, construction, clean. 

251
00:11:51,600 --> 00:11:54,880
We did everything right. 
And it was I had, I had little 

252
00:11:54,880 --> 00:11:57,200
kids. 
I think my, my 2 younger kids 

253
00:11:57,200 --> 00:12:00,320
were like 3 and five. 
And you know, small business 

254
00:12:00,320 --> 00:12:02,600
owner, I'm already, I'm working 
80 hours a week and I got two 

255
00:12:02,600 --> 00:12:05,160
small kids and I'm trying to be 
a dad and trying to spend. 

256
00:12:05,160 --> 00:12:07,760
Time always on. 
Phones always on it. 

257
00:12:07,760 --> 00:12:10,840
Literally the phone was always 
on to where at one point in time

258
00:12:10,840 --> 00:12:12,680
I had. 
And to this day, I do not have 

259
00:12:12,680 --> 00:12:16,520
any notifications on my phone 
because I would literally get 

260
00:12:16,520 --> 00:12:18,760
like chest pain. 
My phone would be going off and 

261
00:12:18,760 --> 00:12:21,960
I would have a physical response
to that Ding from a text message

262
00:12:21,960 --> 00:12:24,720
coming in. 
And I say it all the time, every

263
00:12:24,720 --> 00:12:27,200
Saturday, my phone would ring 
and it'd be someone saying, hey,

264
00:12:27,200 --> 00:12:29,800
Mike, my toilet's been broke 
since Tuesday. 

265
00:12:30,000 --> 00:12:32,240
Yeah. 
And I'm like, why couldn't you 

266
00:12:32,240 --> 00:12:34,360
call me Tuesday? 
You had to wait till Saturday. 

267
00:12:34,360 --> 00:12:36,680
And it's a water thing, so you 
got to get after it right away. 

268
00:12:36,880 --> 00:12:39,760
And with a, with a toilet thing,
you mean these folks would use 

269
00:12:39,760 --> 00:12:41,960
the toilet all week even though 
it was not working. 

270
00:12:41,960 --> 00:12:45,200
So when I got there on I, I 
either had to call a plumber and

271
00:12:45,200 --> 00:12:48,000
pay outrageous fees or go handle
it myself, which is typically 

272
00:12:48,000 --> 00:12:49,920
what I did. 
And then, you know, so you're 

273
00:12:49,920 --> 00:12:52,680
showing up to a bathroom that 
has been being used for almost a

274
00:12:52,680 --> 00:12:55,160
week and not it was just, it was
awful. 

275
00:12:55,160 --> 00:12:57,480
And after dealing with that for 
years, I was like, I'm done, 

276
00:12:57,480 --> 00:13:00,000
man. 
Like Get Me Out of here but. 

277
00:13:00,680 --> 00:13:02,920
Wow, Business is hard. 
Running the business is hard. 

278
00:13:03,120 --> 00:13:04,000
Work hard. 
Yeah. 

279
00:13:04,120 --> 00:13:07,360
Then you just want to or just 
hire somebody to do that, OK. 

280
00:13:07,480 --> 00:13:09,120
I hear that all I'm. 
Talking to the wrong person 

281
00:13:09,120 --> 00:13:11,840
because you don't get it yet. 
I I, I had someone tell me, oh, 

282
00:13:11,840 --> 00:13:15,080
you just need more managers. 
I was like, do you understand 

283
00:13:15,560 --> 00:13:20,240
management is dead money, OK? 
Like they are not a Rev 

284
00:13:20,240 --> 00:13:22,320
generator. 
They are not making the company 

285
00:13:22,320 --> 00:13:24,640
more money. 
They are a liability that may 

286
00:13:24,640 --> 00:13:26,080
make some efficiencies, but 
it's. 

287
00:13:26,440 --> 00:13:28,240
Yeah. 
I'm just taking money out of my 

288
00:13:28,240 --> 00:13:29,880
pocket so I don't have to deal 
with headaches at that point. 

289
00:13:29,880 --> 00:13:32,160
We're just not at that point 
where I can afford to take money

290
00:13:32,160 --> 00:13:34,040
out of my pocket. 
No, it's tough. 

291
00:13:34,040 --> 00:13:36,960
And you know, kind of going back
to what we started talking about

292
00:13:36,960 --> 00:13:39,760
is the people that have been 
able to succeed at starting and 

293
00:13:39,760 --> 00:13:42,400
running and maybe it's even a 
profitable business, which by 

294
00:13:42,400 --> 00:13:46,040
the way, doesn't have to be, but
if you are, you need to get paid

295
00:13:46,040 --> 00:13:47,680
for that. 
Yeah, like you deserve it. 

296
00:13:47,680 --> 00:13:50,720
You've worked harder than I 
mean, we're in the capital of 

297
00:13:50,720 --> 00:13:52,960
the state, so there are a lot of
government workers here and I 

298
00:13:52,960 --> 00:13:55,120
respect that they made that 
decision and thank them for all 

299
00:13:55,120 --> 00:13:57,640
the things that they've done to 
keep this state a great state. 

300
00:13:58,240 --> 00:14:00,360
But the entrepreneur that 
started from scratch, going 

301
00:14:00,360 --> 00:14:03,360
through all that paperwork and 
then making it profitable at the

302
00:14:03,360 --> 00:14:05,400
end of everything, fighting 
through all that, it takes a 

303
00:14:05,400 --> 00:14:07,000
certain kind of person. 
Yeah. 

304
00:14:07,440 --> 00:14:10,160
And it's and it's not easy. 
And there's very few businesses 

305
00:14:10,160 --> 00:14:13,520
under 5,000,000 bucks that are 
you're going to be able to 

306
00:14:13,520 --> 00:14:17,240
manage remotely because that's 
one of the popular phone calls 

307
00:14:17,240 --> 00:14:19,240
we get. 
Oh, you know, I got 100,000 and 

308
00:14:19,240 --> 00:14:21,600
I want to buy a business that 
can generate 50 grand a year and

309
00:14:21,600 --> 00:14:24,040
I don't have to do anything. 
Me too. 

310
00:14:24,040 --> 00:14:25,240
I'm buying all three. 
Businesses. 

311
00:14:25,440 --> 00:14:27,440
So I'm on the front of the line 
to find all. 

312
00:14:27,600 --> 00:14:30,400
Those businesses, yeah, they're 
a few and part between man. 

313
00:14:31,560 --> 00:14:34,600
Well, and you know, you said 
earlier you're talking about why

314
00:14:34,600 --> 00:14:37,960
you bought the Transworld 
franchise as opposed to starting

315
00:14:37,960 --> 00:14:40,400
yourself. 
I mean, when you're starting a 

316
00:14:40,400 --> 00:14:42,600
business yourself, you've got to
work, There's that tuition you 

317
00:14:42,600 --> 00:14:44,680
got to pay, all those problems 
that you got to work through 

318
00:14:44,680 --> 00:14:47,040
that you haven't discussed in 
the franchise side of things. 

319
00:14:47,040 --> 00:14:49,320
That really quickens that 
learning curve, right? 

320
00:14:49,360 --> 00:14:51,280
I mean, I brought in this little
flyer. 

321
00:14:51,280 --> 00:14:53,680
There's like, whatever, half a 
dozen Flyers in there that 

322
00:14:53,680 --> 00:14:56,800
somebody created and thought 
through and debated at what 

323
00:14:56,800 --> 00:14:59,400
should be in it, what pictures 
to use and what kind of paper to

324
00:14:59,400 --> 00:15:02,880
print it on and printed it and 
sent it to me and I paid for it.

325
00:15:03,080 --> 00:15:05,720
And then training, I mean the 
training that they offer is 

326
00:15:05,720 --> 00:15:07,360
unbelievable. 
And that was a network of 

327
00:15:07,360 --> 00:15:09,080
people. 
Hey, I'm selling a quarry. 

328
00:15:09,080 --> 00:15:11,600
And I mean, how do you put a 
price tag on a quarry? 

329
00:15:11,600 --> 00:15:14,440
We don't really know exactly how
much is left in there and the 

330
00:15:14,440 --> 00:15:15,920
equipment, there's all this 
stuff. 

331
00:15:16,840 --> 00:15:20,400
That's I was a part of the a 
worldwide franchise Sandler 

332
00:15:20,400 --> 00:15:21,560
training that does sales 
training. 

333
00:15:21,560 --> 00:15:22,880
They're not they're not Sandler 
training. 

334
00:15:22,880 --> 00:15:25,760
I think there's Sandler now, but
amazing organization. 

335
00:15:25,760 --> 00:15:28,800
But one thing I learned or one 
thing that I enjoyed the most 

336
00:15:28,800 --> 00:15:31,880
about being a part of that 
franchise was the fact that I 

337
00:15:31,880 --> 00:15:35,040
could knowledge share with 
hundreds of people across the 

338
00:15:35,040 --> 00:15:37,440
world that and what's the value 
on that practice? 

339
00:15:37,600 --> 00:15:39,160
Oh my God. 
Yeah, it's not just about the 

340
00:15:39,160 --> 00:15:40,880
price either, right? 
To me, it's a value. 

341
00:15:40,880 --> 00:15:44,320
So I bought a franchise and I 
got 20 times the value out of my

342
00:15:44,320 --> 00:15:47,480
investment in that franchise 
from that money. 

343
00:15:47,560 --> 00:15:49,480
Yeah. 
And I'll do it 100 times. 

344
00:15:49,960 --> 00:15:52,120
Just call somebody up and ask 
them all the kind of weird 

345
00:15:52,120 --> 00:15:53,800
questions. 
There's five of us in the office

346
00:15:53,800 --> 00:15:56,760
and some and some virtual 
support, so we don't know 

347
00:15:56,760 --> 00:15:58,320
everything. 
Yeah, we're not going to pretend

348
00:15:58,320 --> 00:16:00,480
to know, but we kind of know 
what we don't know. 

349
00:16:00,520 --> 00:16:02,720
Yeah. 
And what we know is who to call 

350
00:16:02,760 --> 00:16:04,160
the. 
Answers are out there, yeah. 

351
00:16:04,320 --> 00:16:06,760
And we have a network of 1000 
agents and we're in 18 

352
00:16:06,760 --> 00:16:08,680
countries, so we have a ton of 
experience. 

353
00:16:09,320 --> 00:16:12,120
Anyhow, there's it's an exciting
company, it's an exciting 

354
00:16:12,120 --> 00:16:14,080
industry to be in and messing 
around in. 

355
00:16:14,080 --> 00:16:17,400
And I genuinely feel like we're 
actually helping people who 

356
00:16:17,400 --> 00:16:20,600
deserve help the most. 
Yeah, they're working everyday 

357
00:16:21,120 --> 00:16:23,240
and they're building something 
that they're proud of and they 

358
00:16:23,240 --> 00:16:25,280
have a passion about. 
Like you don't start a marketing

359
00:16:25,280 --> 00:16:27,040
company because you don't like 
marketing, right? 

360
00:16:27,240 --> 00:16:28,400
You start it because you love 
it. 

361
00:16:28,480 --> 00:16:30,240
There's something about it that 
gets you going. 

362
00:16:30,680 --> 00:16:32,920
Well, you know, I actually 
started because I didn't like 

363
00:16:32,920 --> 00:16:34,360
the way marketing was being 
done. 

364
00:16:34,400 --> 00:16:37,360
Yeah, even better. 
Because I was I was a business 

365
00:16:37,360 --> 00:16:40,360
owner, I own a few businesses 
and I had to go to marketing 

366
00:16:40,360 --> 00:16:42,440
companies and I hated the way 
they functioned. 

367
00:16:42,720 --> 00:16:44,880
So we actually, we like, we 
laugh all the time that we're 

368
00:16:44,880 --> 00:16:49,640
the anti agency because we do 
all the things right that that 

369
00:16:49,640 --> 00:16:51,440
we hate about agencies. 
We do it differently. 

370
00:16:51,440 --> 00:16:55,280
So we don't do what they do. 
And, and that was literally not 

371
00:16:55,280 --> 00:16:57,760
because I had a love for 
marketing, but because I hated 

372
00:16:57,760 --> 00:17:01,120
the way it was being done and it
was pissing me off so much, you 

373
00:17:01,120 --> 00:17:03,080
know, so. 
And like, I'm a real estate 

374
00:17:03,080 --> 00:17:06,040
agent now, broker, because I was
building a portfolio and I 

375
00:17:06,040 --> 00:17:07,480
couldn't find an agent I could 
work with. 

376
00:17:07,599 --> 00:17:09,200
Yeah. 
And it's wild. 

377
00:17:09,200 --> 00:17:10,640
Just do it myself. 
Yeah. 

378
00:17:10,640 --> 00:17:12,319
So I'll get licensed. 
And that's why I get it. 

379
00:17:12,319 --> 00:17:13,920
What you're saying. 
You just don't like the way it's

380
00:17:13,920 --> 00:17:15,359
being done. 
And do it the way you want. 

381
00:17:15,359 --> 00:17:16,960
Yeah. 
And then it grew into a passion 

382
00:17:16,960 --> 00:17:19,200
of being able to help, 
especially small businesses, 

383
00:17:19,280 --> 00:17:21,880
business owners to be able to 
give that. 

384
00:17:21,880 --> 00:17:24,280
You know, our mission is to give
unwavering support to small 

385
00:17:24,280 --> 00:17:26,000
business owners and 
entrepreneurs while they're on 

386
00:17:26,000 --> 00:17:28,040
this journey of 
entrepreneurship, right? 

387
00:17:28,040 --> 00:17:31,480
Like they are counting on us to 
be able to do what we do to help

388
00:17:31,480 --> 00:17:33,560
them grow their business. 
And we take it super seriously. 

389
00:17:33,560 --> 00:17:35,200
And and that's what I'm very 
passionate about. 

390
00:17:35,200 --> 00:17:36,920
I'm not so much passionate about
marketing. 

391
00:17:37,000 --> 00:17:38,640
I'm passionate about that 
mission though. 

392
00:17:38,640 --> 00:17:40,040
And they've given you their 
trust. 

393
00:17:40,200 --> 00:17:42,000
Yeah, dude. 
And that's a fragile thing. 

394
00:17:42,000 --> 00:17:44,520
And you've got to respect that 
because it's a it's an easy 

395
00:17:44,520 --> 00:17:45,560
thing to lose. 
Yeah. 

396
00:17:45,760 --> 00:17:47,840
And it's important. 
And I think that's really key. 

397
00:17:47,840 --> 00:17:50,600
We're really focused on 
confidentiality. 

398
00:17:50,640 --> 00:17:53,400
So when somebody goes to, they 
don't want to next day come in 

399
00:17:53,400 --> 00:17:56,640
and see a big sign out front and
you know, and their customers 

400
00:17:56,640 --> 00:17:59,240
like you're selling like their 
best customers, you know, so 

401
00:17:59,240 --> 00:18:01,040
they. 
Order PNL online somewhere 

402
00:18:01,040 --> 00:18:02,440
right? 
Like, yeah, why is that out 

403
00:18:02,440 --> 00:18:03,040
there? 
Yeah. 

404
00:18:03,120 --> 00:18:07,080
So we're very focused on 
confidentiality and really 

405
00:18:07,080 --> 00:18:10,680
working with our sellers to make
sure that we can connect the 

406
00:18:10,680 --> 00:18:12,600
right buyer. 
Good deals, good people. 

407
00:18:12,600 --> 00:18:16,200
That's really. 
So let's say I'm a mom and pop 

408
00:18:16,200 --> 00:18:18,040
something, right? 
And I've been doing business for

409
00:18:18,040 --> 00:18:20,160
20 years. 
I've got a great business. 

410
00:18:20,720 --> 00:18:22,360
I'm still in it, still working 
in it. 

411
00:18:22,360 --> 00:18:24,120
But you know, I've got a great 
client base. 

412
00:18:24,120 --> 00:18:27,040
I've got a solid brand that's 
recognized and trusted. 

413
00:18:28,200 --> 00:18:31,400
What are some indicators that 
it's like a good time for me to 

414
00:18:31,400 --> 00:18:34,920
sell? 
There's a number of things that 

415
00:18:34,960 --> 00:18:37,880
drive owner's reason for 
selling. 

416
00:18:39,880 --> 00:18:42,400
That's too big of a question, I 
think, because they all sell for

417
00:18:42,400 --> 00:18:46,000
different reasons. 
If they're most people need 

418
00:18:46,000 --> 00:18:49,760
money to continue to live. 
So if they've saved enough money

419
00:18:49,760 --> 00:18:52,200
or we feel that the value of 
their business is at such a 

420
00:18:52,200 --> 00:18:54,840
state that when they get paid 
for the business that they could

421
00:18:54,840 --> 00:18:57,160
retire on that that might be a 
reason to sell. 

422
00:18:57,680 --> 00:18:59,120
It could be that they're just 
burned out. 

423
00:18:59,800 --> 00:19:01,840
I don't know when in the 
conversation we talked about if 

424
00:19:01,840 --> 00:19:05,320
we were on mic or off mic, but 
there's that situation that we 

425
00:19:05,320 --> 00:19:08,160
run into where they're burned 
out of the business. 

426
00:19:08,160 --> 00:19:09,920
It's a good business. 
It's making money. 

427
00:19:09,920 --> 00:19:12,040
They've put some money away. 
They still like what they're 

428
00:19:12,040 --> 00:19:13,920
doing, but they're just stressed
out, right? 

429
00:19:13,920 --> 00:19:16,440
So we look at that and if 
there's like multiple locations,

430
00:19:16,440 --> 00:19:21,280
if it's a, they're just too many
locations for them to manage or 

431
00:19:21,280 --> 00:19:23,880
too many people, there's a way 
we can also work with them to 

432
00:19:23,880 --> 00:19:25,760
grow that business through 
franchising. 

433
00:19:25,840 --> 00:19:29,120
So it doesn't always mean they 
have to sell or they should sell

434
00:19:29,120 --> 00:19:31,840
or they want to sell. 
We're problem solvers, right? 

435
00:19:32,120 --> 00:19:35,360
And if they tell us that they 
want to sell and we're looking 

436
00:19:35,360 --> 00:19:39,040
at the business, it might be a 
win for them if they franchise 

437
00:19:39,040 --> 00:19:42,360
that business, keep that 
passion, run a flagship 

438
00:19:42,360 --> 00:19:45,240
location, share that passion, be
the creative side of it. 

439
00:19:45,240 --> 00:19:48,360
And they could just turn that 
into a franchise and we can help

440
00:19:48,360 --> 00:19:50,840
them do that. 
And there's a lot of other spin 

441
00:19:50,840 --> 00:19:54,640
offs in, in owning A franchise 
that are beneficial besides 

442
00:19:54,640 --> 00:19:57,520
just, you know, selling the the 
upfront fee and the royalties 

443
00:19:57,520 --> 00:20:00,400
and all those other things. 
And if that's not a match form 

444
00:20:00,400 --> 00:20:02,920
and they just need to get out 
now, we can help them do that 

445
00:20:02,920 --> 00:20:04,960
too. 
But I don't think there's a 

446
00:20:04,960 --> 00:20:09,040
single answer to that question. 
That's not like one reason that 

447
00:20:09,040 --> 00:20:11,400
people sell. 
I'd just add to that, though, 

448
00:20:11,440 --> 00:20:14,160
that again, back to I can't 
remember if we were on mic or 

449
00:20:14,160 --> 00:20:15,680
not, but like having that 
runway. 

450
00:20:15,680 --> 00:20:19,120
So making sure that, you know, 
everybody should be thinking 

451
00:20:19,120 --> 00:20:21,840
about an exit strategy. 
You know, we, we do this in our 

452
00:20:21,840 --> 00:20:25,360
own lives with estate planning. 
Hopefully people look at that 

453
00:20:25,360 --> 00:20:28,280
and take it seriously. 
Wills those well, you should do 

454
00:20:28,280 --> 00:20:30,360
that with your business. 
What's the five year? 

455
00:20:30,360 --> 00:20:33,080
Where, where do you want to be? 
When are you looking to? 

456
00:20:33,320 --> 00:20:36,840
So if like you were just talking
about this silver tsunami, OK, 

457
00:20:36,840 --> 00:20:40,640
if someone's in their late 40s, 
early 50s, OK, this is a time to

458
00:20:40,640 --> 00:20:43,840
be thinking, all right, three to
five years out, that gives us a 

459
00:20:43,840 --> 00:20:47,560
lot of runway to find the right 
buyer for the right price versus

460
00:20:47,560 --> 00:20:50,160
all of a sudden the situation 
that I was in where I'm like, 

461
00:20:50,160 --> 00:20:51,760
OK, we got to sell the business 
and we're going to sell. 

462
00:20:51,760 --> 00:20:53,280
It and just liquidate it and 
liquidate. 

463
00:20:53,560 --> 00:20:55,600
Like and we see those things 
happening. 

464
00:20:55,600 --> 00:20:57,040
All the time. 
And it's tragic. 

465
00:20:57,040 --> 00:21:00,480
It's tragic for our local 
communities, our local business 

466
00:21:00,480 --> 00:21:02,880
communities, and it's also 
tragic for the owners. 

467
00:21:03,240 --> 00:21:07,280
So I think really people should 
be thinking about exiting their 

468
00:21:07,280 --> 00:21:09,880
business, not to exit 
immediately, but what's their 

469
00:21:09,880 --> 00:21:12,240
strategy? 
So I just had a friend who sold 

470
00:21:12,240 --> 00:21:14,720
his business and right from the 
beginning I was consulting with 

471
00:21:14,720 --> 00:21:18,440
him and I said, like you're 55, 
what are you getting out of 

472
00:21:18,440 --> 00:21:19,800
this? 
And he's like, oh, it's not for 

473
00:21:19,800 --> 00:21:21,440
a while. 
I mean you have to plan that now

474
00:21:21,640 --> 00:21:25,080
that that's like how you've your
corporate structure, you want to

475
00:21:25,080 --> 00:21:29,560
make sure like for instance, 
client that we that we're 

476
00:21:29,560 --> 00:21:33,240
working with they have their 
property in the family name and 

477
00:21:33,240 --> 00:21:35,080
then the corporate well, you 
don't necessarily. 

478
00:21:35,080 --> 00:21:37,920
I bet that happens a lot, yeah. 
So you want to structure all 

479
00:21:37,920 --> 00:21:41,680
those things properly before 
going to sale, making sure that 

480
00:21:41,680 --> 00:21:45,520
all owners are on board and and 
you know, people set up 

481
00:21:45,520 --> 00:21:49,960
businesses and maybe they gave a
minority ownership to their 

482
00:21:49,960 --> 00:21:52,200
great aunt or uncle. 
Are they on board with selling 

483
00:21:52,200 --> 00:21:53,680
this? 
They could, you know, mess up 

484
00:21:53,680 --> 00:21:56,160
the process. 
So making sure all those dot and

485
00:21:56,160 --> 00:21:58,800
those I's are dot and T's 
crossed so. 

486
00:21:59,120 --> 00:22:03,000
What is there like a a minimum 
volume they need to be at? 

487
00:22:03,000 --> 00:22:06,120
Like do they need to hit 500,000
before they start considering it

488
00:22:06,560 --> 00:22:08,400
or? 
They could be losing money and 

489
00:22:08,400 --> 00:22:11,640
we can help them sell it. 
Which seems wild to me. 

490
00:22:11,640 --> 00:22:18,440
We should talk No so yeah, 
right, but but how it so I guess

491
00:22:18,440 --> 00:22:22,160
like if I'm let you know I'm 
making I'm I've got 500 grand in

492
00:22:22,160 --> 00:22:25,360
gross Rev. I'm putting 200 grand
a year in my pocket. 

493
00:22:26,160 --> 00:22:27,480
What am I selling my business 
for? 

494
00:22:27,800 --> 00:22:30,600
So, so there's there's, that's a
great question. 

495
00:22:30,600 --> 00:22:32,640
Yeah, that's a huge, it's a 
huge, huge question. 

496
00:22:32,640 --> 00:22:36,040
Yeah. 
Let me let me answer that in in 

497
00:22:36,040 --> 00:22:38,440
a different way and back up to 
build off something that Steve 

498
00:22:38,440 --> 00:22:40,680
said that triggered a thought in
my mind is maybe you just want 

499
00:22:40,680 --> 00:22:41,840
to know what your business is 
worth. 

500
00:22:42,440 --> 00:22:45,680
So we'll give you a valuation, 
we'll charge you a fee between 

501
00:22:45,680 --> 00:22:49,200
usually four and $5000. 
And the reason there's a range 

502
00:22:49,200 --> 00:22:54,040
is it depends on the number of 
factors, But some companies 

503
00:22:54,040 --> 00:22:56,600
manufacturing, they might have 
like work in progress, like 

504
00:22:56,600 --> 00:22:58,640
they've bought something, but 
they haven't gotten paid for it.

505
00:22:58,640 --> 00:23:01,240
So there's some amount of work 
they're either doing to assemble

506
00:23:01,240 --> 00:23:03,680
it or to install it and close 
out the project. 

507
00:23:03,680 --> 00:23:06,880
So if it's more complicated, 
it's more money, but maybe you 

508
00:23:06,880 --> 00:23:08,600
just get a valuation on your 
business. 

509
00:23:08,840 --> 00:23:11,280
And in doing that, we're totally
transparent. 

510
00:23:11,280 --> 00:23:13,720
We want to show you the process 
for getting you a business 

511
00:23:13,720 --> 00:23:16,800
valuation because that'll help 
you run your business better. 

512
00:23:17,400 --> 00:23:20,240
And by better, I just mean more 
money, more profitable, and 

513
00:23:20,240 --> 00:23:23,000
maybe it's more profitable 
day-to-day or more profitable 

514
00:23:23,000 --> 00:23:24,400
when you're thinking of that 
exit. 

515
00:23:24,480 --> 00:23:26,200
Is that because you like? 
When you go through that 

516
00:23:26,200 --> 00:23:28,480
process, you see where like the 
gaps are under? 

517
00:23:28,520 --> 00:23:30,480
What's missing? 
There's thousands of industries.

518
00:23:30,480 --> 00:23:33,000
You did this, Yeah. 
We and we have all of that 

519
00:23:33,000 --> 00:23:36,120
again, Transworld, this huge, 
you know, we look and say, oh 

520
00:23:36,120 --> 00:23:38,760
listen, oh, you're in the auto 
body industry. 

521
00:23:38,960 --> 00:23:44,760
Most successful auto body shops 
are spending 10% on marketing. 

522
00:23:44,760 --> 00:23:48,200
You're only spending 1%. 
Or you're spending 40% like back

523
00:23:48,200 --> 00:23:49,840
off on your marketing your. 
Who are those guys? 

524
00:23:49,840 --> 00:23:51,600
I'd like to talk to them. 
Yeah, yeah. 

525
00:23:51,600 --> 00:23:54,360
Well, we'll give you a list. 
We do have a. 

526
00:23:54,520 --> 00:23:56,080
List. 
You'll see us hesitate too. 

527
00:23:56,440 --> 00:23:59,280
And the reason we're hesitating 
is we want to share everything. 

528
00:23:59,280 --> 00:24:02,480
But we do have this this promise
of confidentiality. 

529
00:24:02,480 --> 00:24:05,840
So we're trying to measure our 
words very carefully not to tip 

530
00:24:05,840 --> 00:24:08,520
our hand. 
We're working on probably 120 

531
00:24:08,520 --> 00:24:11,280
files. 
We have 15 listings active right

532
00:24:11,280 --> 00:24:12,640
now. 
We're negotiating a bunch of 

533
00:24:12,640 --> 00:24:16,200
deals. 
So it's, it's an exciting time. 

534
00:24:16,200 --> 00:24:18,680
If you're buying a business, you
know, give us a call. 

535
00:24:18,680 --> 00:24:21,360
If you're looking at selling, 
it's, it's a, it's a great time.

536
00:24:21,360 --> 00:24:24,080
Or if you just want to know what
it's worth and we can help you 

537
00:24:24,200 --> 00:24:26,640
understand that value. 
But I want to answer your 

538
00:24:26,640 --> 00:24:28,480
question too with a little bit 
of detail. 

539
00:24:28,480 --> 00:24:31,000
So it will start with your tax 
returns. 

540
00:24:31,360 --> 00:24:33,440
And if you don't have tax 
returns, I need some sort of 

541
00:24:33,440 --> 00:24:36,480
documentation on your revenue 
and your expenses. 

542
00:24:37,000 --> 00:24:40,320
But there are four or five 
different very common ways of 

543
00:24:40,320 --> 00:24:42,680
doing it. 
And it's all about your seller 

544
00:24:42,680 --> 00:24:46,040
discretionary earnings is like 
the first one, the first one 

545
00:24:46,040 --> 00:24:47,840
that's kind of go in order would
be your revenue. 

546
00:24:48,400 --> 00:24:51,160
So we could look at that top 
line revenue and tell you rule 

547
00:24:51,160 --> 00:24:55,720
of thumb wise your 37% of your 
top line revenue is your value. 

548
00:24:55,920 --> 00:24:57,360
OK. 
Based on the industry. 

549
00:24:57,400 --> 00:24:59,240
Yeah. 
On that industry segment that 

550
00:24:59,240 --> 00:25:01,680
you're in and we look at the tax
return, your industry code, 

551
00:25:01,680 --> 00:25:04,640
that's on your tax return, 
right, Because everybody's got 

552
00:25:04,640 --> 00:25:07,160
that and they know what it is 
hopefully or we can figure it 

553
00:25:07,160 --> 00:25:09,400
out. 
The next one would be the seller

554
00:25:09,400 --> 00:25:11,440
discretionary earnings. 
So we look at some of your 

555
00:25:11,440 --> 00:25:14,440
income and expenses. 
After that, we look at EBIT or 

556
00:25:14,480 --> 00:25:17,120
EBITDA and each of those have 
different multipliers. 

557
00:25:17,480 --> 00:25:20,120
And there have been many 
situations where we come to a 

558
00:25:20,120 --> 00:25:24,640
seller who thinks their business
is valued based on a multiplier 

559
00:25:24,640 --> 00:25:27,400
of their revenue. 
Yep, what they didn't realize is

560
00:25:27,400 --> 00:25:31,520
that multiplier is a fraction. 
So if you're making 1,000,000 

561
00:25:31,520 --> 00:25:35,880
bucks, maybe your multiplier 
rule of thumb is .37, whereas if

562
00:25:35,880 --> 00:25:39,600
it were on SDE it could be like 
A4 or A5, right? 

563
00:25:39,600 --> 00:25:42,320
And they're different for you. 
To hear those multipliers thrown

564
00:25:42,320 --> 00:25:45,040
around like, oh, 13%. 13 X Yeah 
and. 

565
00:25:45,160 --> 00:25:47,040
They're like the 13 X to the 
revenue. 

566
00:25:47,160 --> 00:25:49,400
No, no, no. 
Sorry, you misunderstood. 

567
00:25:49,400 --> 00:25:52,360
Yeah, googled it wrong. 
Yeah. 

568
00:25:53,160 --> 00:25:54,720
Yeah, Gronk got this. 
One. 

569
00:25:54,840 --> 00:25:56,440
Oh man. 
So what's a pretty? 

570
00:25:56,440 --> 00:25:59,280
In our view, it's a pretty fair 
investment. 

571
00:25:59,280 --> 00:26:03,920
If you've got a company that is 
part of your retirement plan to 

572
00:26:03,920 --> 00:26:07,000
make a four or $5000 investment 
to figure out what it's worth 

573
00:26:07,280 --> 00:26:10,160
is, is not that big a deal. 
And this is a big report. 

574
00:26:10,160 --> 00:26:13,680
Take us a full week, week and a 
half to to push this together. 

575
00:26:13,760 --> 00:26:16,120
And by we're going to be asking 
the owner a ton of questions. 

576
00:26:16,240 --> 00:26:20,360
Yeah, Like why did your other 
deductions go from 40,000 a year

577
00:26:20,360 --> 00:26:23,160
to 70,000? 
Like what changed in that year? 

578
00:26:23,160 --> 00:26:26,280
They don't remember, right. 
So now we started documentation 

579
00:26:26,280 --> 00:26:28,160
process. 
OK, let's talk to the accountant

580
00:26:28,160 --> 00:26:29,840
that did. 
Let's go back and dig up those 

581
00:26:29,840 --> 00:26:32,720
receipts, like show us because 
we're listing the business for 

582
00:26:32,720 --> 00:26:36,120
sale, but we're also the 
skeptical buyer, right, Because 

583
00:26:36,120 --> 00:26:38,280
we want to prove to the buyer 
that this is the value. 

584
00:26:38,440 --> 00:26:41,080
Yeah. 
So we do a lot of, I'm not going

585
00:26:41,080 --> 00:26:43,240
to call it forensic accounting 
because it's not. 

586
00:26:43,360 --> 00:26:46,960
But we do a lot of Q&A with the 
seller to figure out, to 

587
00:26:46,960 --> 00:26:48,920
understand what they've done. 
And it takes trust. 

588
00:26:48,920 --> 00:26:50,720
That's why we have that 
confidentiality because if 

589
00:26:50,720 --> 00:26:52,800
they're running their taxes from
their camp through their 

590
00:26:52,800 --> 00:26:57,120
business, OK, but you know that 
$5000 bill that you're putting 

591
00:26:57,120 --> 00:26:58,840
through your business? 
So your business doesn't show 

592
00:26:58,840 --> 00:27:02,080
that $5000 of profitability, 
Great job, you're not paying 

593
00:27:02,080 --> 00:27:05,360
taxes on that 5 grand. 
But that 5 grand on the bottom 

594
00:27:05,360 --> 00:27:07,760
line to your SDE on a 4X 
multiplier. 

595
00:27:07,760 --> 00:27:10,280
Now all of a sudden that's 20 
grand on the value of your 

596
00:27:10,280 --> 00:27:12,480
business. 
So it's, so it's not just bro 

597
00:27:12,480 --> 00:27:13,840
science. 
It's not that. 

598
00:27:13,840 --> 00:27:15,280
No, this is not. 
Trust me, bro. 

599
00:27:15,280 --> 00:27:17,400
It's it's 2,000,000. 
Yeah. 

600
00:27:17,400 --> 00:27:20,080
No, no, no. 
It's we document everything and 

601
00:27:20,080 --> 00:27:22,640
there's this International 
Business Broker Association, the

602
00:27:22,720 --> 00:27:26,400
IBBA, these methods for doing 
valuations or is not by 

603
00:27:26,400 --> 00:27:30,120
Transworld or not by Steve and I
certainly the accountants don't 

604
00:27:30,120 --> 00:27:32,200
make them up. 
There is a regulatory body 

605
00:27:32,240 --> 00:27:35,200
that's totally legit, that's 
recognized by everybody that's 

606
00:27:35,200 --> 00:27:38,000
doing this. 
And our job is really we're an 

607
00:27:38,000 --> 00:27:39,920
intermediary between a buyer and
a seller. 

608
00:27:40,520 --> 00:27:44,920
So we need to prove that that 
value is there to a buyer or 

609
00:27:44,920 --> 00:27:47,440
that buyer is going to walk. 
And if they're getting a loan, 

610
00:27:47,440 --> 00:27:50,200
which you know, you want to 
probably use OPM right on the 

611
00:27:50,200 --> 00:27:52,040
people's money. 
That's like things something 

612
00:27:52,160 --> 00:27:54,760
some people like to do. 
It's a whole big thing out 

613
00:27:54,760 --> 00:27:57,120
there. 
And if the seller doesn't feel 

614
00:27:57,120 --> 00:27:59,600
confident because the buyer is 
coming in with no experience in 

615
00:27:59,600 --> 00:28:02,400
the industry, they're not going 
to be willing to do owner 

616
00:28:02,400 --> 00:28:03,560
financing. 
Yeah. 

617
00:28:03,920 --> 00:28:07,240
So we want to be able to market 
that to a bank and we'll take 

618
00:28:07,240 --> 00:28:10,800
that product, that valuation 
that we did and we'll bring it 

619
00:28:10,800 --> 00:28:12,640
to a bank and say here's what we
got. 

620
00:28:13,440 --> 00:28:15,440
What kind of buyer do we need to
bring to the table? 

621
00:28:15,440 --> 00:28:18,720
So we're pre qualifying the 
business we're selling, whereas 

622
00:28:18,720 --> 00:28:21,640
in residential, even commercial 
real estate, it's the building 

623
00:28:22,520 --> 00:28:24,920
and the buyer that's being 
qualified, not the actual 

624
00:28:25,040 --> 00:28:26,440
object. 
That's the business. 

625
00:28:26,440 --> 00:28:27,920
Yeah. 
So it's a it's a whole different

626
00:28:27,920 --> 00:28:29,600
thing. 
It's, it's not something that 

627
00:28:29,600 --> 00:28:31,360
should be done by people with no
experience. 

628
00:28:31,360 --> 00:28:33,800
It should be done by a 
professional and you should be 

629
00:28:34,240 --> 00:28:37,120
hiring those professionals to do
it, even if it's just a simple 

630
00:28:37,480 --> 00:28:40,240
or even more complex valuation, 
like what's this thing worth 

631
00:28:40,240 --> 00:28:42,680
that we've built and what can we
do different? 

632
00:28:43,360 --> 00:28:45,400
And we're not business 
consultants necessarily. 

633
00:28:45,400 --> 00:28:47,680
We are going to show you what 
industry averages are. 

634
00:28:48,360 --> 00:28:49,960
Yeah. 
And and it's not certified. 

635
00:28:49,960 --> 00:28:53,400
That's the other piece, like our
evaluation, right is like it's 

636
00:28:53,400 --> 00:28:56,160
not some people go to Cpas, 
they'll probably pay. 

637
00:28:56,160 --> 00:28:59,440
Or forensic accounts. 
Shout out to Ferrara, Modio and 

638
00:28:59,440 --> 00:29:02,080
Zurich. 
Let's go for those guys. 

639
00:29:02,200 --> 00:29:04,800
Yeah, absolutely. 
That that's a great option. 

640
00:29:04,800 --> 00:29:09,520
Those are, but hey, if you want 
to have a a really good dive on 

641
00:29:09,560 --> 00:29:13,680
what your business is worth, 
broker of value is an incredible

642
00:29:13,680 --> 00:29:14,520
way to go. 
Yeah, sure. 

643
00:29:14,840 --> 00:29:16,040
It's a big deal. 
It's a whole thing. 

644
00:29:16,040 --> 00:29:18,800
It's a very interesting. 
It was fascinating to me, 

645
00:29:18,800 --> 00:29:22,120
especially because I do like 
small business owners and 

646
00:29:22,120 --> 00:29:24,240
entrepreneurs. 
They're my people, right? 

647
00:29:24,240 --> 00:29:29,920
And I, yeah, so it's like I, I 
always want to like, I want to 

648
00:29:29,920 --> 00:29:31,560
make sure I'm asking the right 
questions that's going to be 

649
00:29:31,560 --> 00:29:34,480
useful to them, right? 
Like so and so if I have a 

650
00:29:34,480 --> 00:29:36,760
business that I want to get out 
of for whatever reason. 

651
00:29:36,760 --> 00:29:39,640
That you created another product
and you're tired of this one 

652
00:29:39,680 --> 00:29:42,400
that inspired the new product. 
You want to focus on the new 

653
00:29:42,400 --> 00:29:44,880
thing. 
You can look to sell it off and 

654
00:29:44,880 --> 00:29:47,800
you guys can help with that. 
So it can be something that's a 

655
00:29:47,800 --> 00:29:51,720
couple $100,000 or it could be a
couple $100,060,000, right? 

656
00:29:51,760 --> 00:29:54,200
Whatever. 
Whatever it is, that's there's. 

657
00:29:54,200 --> 00:29:56,280
No industry limit, there's no 
income limit. 

658
00:29:56,280 --> 00:30:01,640
Now what we do have is if it's 
too big and too messy for us, we

659
00:30:01,640 --> 00:30:04,160
were contacted by a large 
retailer locally. 

660
00:30:04,160 --> 00:30:08,880
They have a lot of locations and
just to collect the leases from 

661
00:30:08,880 --> 00:30:11,000
all of those locations is a huge
job. 

662
00:30:11,000 --> 00:30:13,320
And it's not something we do. 
We don't charge an upfront fee 

663
00:30:13,320 --> 00:30:17,000
99% of the time, right, Right. 
So the M&A world, the mergers 

664
00:30:17,000 --> 00:30:20,760
and acquisition folks, they get 
a retainer, give me 60 grand and

665
00:30:20,880 --> 00:30:23,960
I'll start investigating this 
and I'm going to you know shop 

666
00:30:23,960 --> 00:30:27,040
it to find some buyers, but I 
need some money upfront. 

667
00:30:27,040 --> 00:30:29,560
Then that's not an uncommon 
figure, you know, 50-60, a 

668
00:30:29,560 --> 00:30:33,480
100,000 and in something that's 
worth 5-10 maybe up to 30 

669
00:30:33,480 --> 00:30:36,160
million bucks it there's so many
variables, it's hard to get 

670
00:30:36,160 --> 00:30:38,960
pinned down on it. 
We would turn that over to 

671
00:30:38,960 --> 00:30:43,240
either a local M&A person that 
we trust and we're really we're 

672
00:30:43,680 --> 00:30:46,400
in a very tight relationship 
with the Teal Group, OK. 

673
00:30:46,440 --> 00:30:48,320
So we're working very closely 
with them. 

674
00:30:48,360 --> 00:30:50,400
Kathy's amazing. 
Yeah, she's been super 

675
00:30:50,400 --> 00:30:52,920
supportive of what we do when 
that mom and pop, you know, Main

676
00:30:52,920 --> 00:30:56,960
Street Market and she's another 
person that we lean on to for 

677
00:30:56,960 --> 00:31:00,680
information. 
And that's a part we would refer

678
00:31:00,680 --> 00:31:03,600
you to, to a person like Kathy 
in the field group. 

679
00:31:04,400 --> 00:31:09,080
We also have a group internally 
at that Transworld that can, we 

680
00:31:09,080 --> 00:31:11,880
can still be involved if the 
seller wants us to be involved 

681
00:31:11,880 --> 00:31:15,560
or we can hand it off entirely 
down to to our team down there. 

682
00:31:15,560 --> 00:31:18,400
But we're really only going to 
do up to like 40-50 million will

683
00:31:18,400 --> 00:31:20,160
be the Max that Transworld will 
do. 

684
00:31:20,160 --> 00:31:21,800
We're not doing it here at 
Albany. 

685
00:31:22,200 --> 00:31:23,920
That's like we know, we don't 
know that. 

686
00:31:23,920 --> 00:31:25,720
That's a different view. 
That's a whole different, a 

687
00:31:25,760 --> 00:31:28,360
whole different animal and. 
And they're networking with all 

688
00:31:28,360 --> 00:31:32,440
the private equity companies and
that's just not where we are. 

689
00:31:32,440 --> 00:31:35,400
We're working with, I'm not 
going to say regular people 

690
00:31:35,400 --> 00:31:36,840
because certainly we're all 
regular. 

691
00:31:36,880 --> 00:31:40,440
Our own. 
Irregular way, but smaller 

692
00:31:40,440 --> 00:31:43,720
companies. 
Is is there any industries or 

693
00:31:43,720 --> 00:31:45,720
sectors that have a higher 
demand than others right now? 

694
00:31:46,000 --> 00:31:50,000
Yeah, the any home services 
company plums electrical wow 

695
00:31:50,600 --> 00:31:54,000
painting Oh my gosh anything any
well and even like. 

696
00:31:54,080 --> 00:31:57,320
Auto Body Shop like you, it's 
unbelievable actually. 

697
00:31:57,320 --> 00:31:59,600
There are people looking and if 
you look on biz buy sell, 

698
00:32:00,040 --> 00:32:02,720
there's tons of buyers. 
I mean we have in our database 

699
00:32:02,720 --> 00:32:05,440
what 650,000 buyers that are 
looking for. 

700
00:32:05,440 --> 00:32:06,800
They're looking for that kind of
thing. 

701
00:32:06,800 --> 00:32:08,520
Transworlds. 
Yeah, it's crazy. 

702
00:32:08,520 --> 00:32:11,480
It's wild, man. 
I I keep coming across that like

703
00:32:11,520 --> 00:32:14,400
anything trades related, home 
services, all that like it's 

704
00:32:14,400 --> 00:32:18,880
just, that's the next 10 to 20 
years is going to be wild. 

705
00:32:18,880 --> 00:32:21,120
If you are in that business. 
There's going to be a lot of 

706
00:32:21,120 --> 00:32:23,960
millionaire plumbers and welders
and there already are trades 

707
00:32:23,960 --> 00:32:24,800
people. 
Yeah, there already are, 

708
00:32:24,800 --> 00:32:25,600
absolutely. 
And. 

709
00:32:25,800 --> 00:32:26,680
There's going to be more and 
the. 

710
00:32:26,680 --> 00:32:29,360
Healthcare services are also a 
big deal. 

711
00:32:30,200 --> 00:32:33,400
New York State has changed their
regulations on the way you get 

712
00:32:33,400 --> 00:32:37,480
paid for. 
You could expense some medical 

713
00:32:38,480 --> 00:32:43,240
transportation visits through 
Medicare, but that's all change 

714
00:32:43,240 --> 00:32:45,320
now. 
They've subcontract that, 

715
00:32:45,600 --> 00:32:50,240
subcontracted out that service 
out of state, but there's still 

716
00:32:50,240 --> 00:32:53,720
a lot of other long term care 
facilities. 

717
00:32:54,040 --> 00:32:58,840
Assisted living that's anything 
health related is still like 

718
00:32:58,840 --> 00:33:01,640
dental offices, medical 
practices, physical therapist. 

719
00:33:01,640 --> 00:33:04,160
Not software though, guys. 
Aren't, you know, people banging

720
00:33:04,160 --> 00:33:05,440
down your doors for software 
well? 

721
00:33:05,520 --> 00:33:08,320
Software development you mean? 
Or like software sales? 

722
00:33:09,600 --> 00:33:12,400
I well, I have a piece of 
software that I built I'm going 

723
00:33:12,400 --> 00:33:14,240
to be selling at some point in 
time, so. 

724
00:33:15,040 --> 00:33:17,800
This is where I would dive into 
our database at Transworld and 

725
00:33:17,800 --> 00:33:21,440
say, I don't know like where we 
go, like what kind of what kind 

726
00:33:21,440 --> 00:33:24,240
of software is it? 
And there is a person that's in 

727
00:33:24,240 --> 00:33:27,480
my personal network from 
Transworld who is in that space.

728
00:33:27,640 --> 00:33:29,080
Interesting. 
Now we just hand it to Andrew 

729
00:33:29,080 --> 00:33:30,640
and say Andrew, like, take a 
look at this. 

730
00:33:30,640 --> 00:33:32,920
Like what do you think I'm? 
Trying to I'm trying to figure 

731
00:33:32,920 --> 00:33:35,840
out where how many users I need 
to get to so I can sell it for 

732
00:33:36,000 --> 00:33:37,800
$50 million. 
Yeah, I'll put you in touch with

733
00:33:37,800 --> 00:33:40,000
Andrew. 50 million. 
That's my number. 

734
00:33:40,160 --> 00:33:41,320
Yeah, good. 
I love it. 

735
00:33:41,360 --> 00:33:43,120
It's not even close worth to 
that yet, but it. 

736
00:33:43,120 --> 00:33:45,600
Will be, but it will be on the 
dream board 50. 

737
00:33:45,720 --> 00:33:48,640
Million. 
Cows are expensive man. 

738
00:33:48,640 --> 00:33:52,760
I need to buy some livestock. 
Well, listen, I know we're 

739
00:33:52,760 --> 00:33:56,480
getting short on time, but I and
there's, there's so many things 

740
00:33:56,480 --> 00:33:57,400
I can ask you about the 
business. 

741
00:33:57,400 --> 00:34:00,560
Program whatever you need and 
this is like a living thing and 

742
00:34:00,800 --> 00:34:01,840
it changes too. 
Right. 

743
00:34:01,840 --> 00:34:06,080
Yeah, I guess let's ask this 
question and I got to ask you 

744
00:34:06,080 --> 00:34:08,600
about Mount Rainier. 
I can't let you leave without 

745
00:34:08,600 --> 00:34:11,120
getting an answer on that 
because that also fascinates me.

746
00:34:11,120 --> 00:34:15,520
But if you're going to tell a 
small business owner they're 

747
00:34:15,520 --> 00:34:18,560
doing anywhere from, I don't 
know, it doesn't matter, 500,000

748
00:34:18,560 --> 00:34:20,080
to a couple million. 
If you're going to tell them one

749
00:34:20,080 --> 00:34:22,600
thing about getting their 
business ready to sell, what 

750
00:34:22,600 --> 00:34:24,440
would it be other than call you 
guys? 

751
00:34:25,560 --> 00:34:27,800
Call us. 
Yeah, well, get your taxes in 

752
00:34:27,800 --> 00:34:30,199
order. 
Like do a genuine, genuinely 

753
00:34:30,199 --> 00:34:33,760
good job of reporting your 
income, looking at what your 

754
00:34:33,760 --> 00:34:36,320
expenses are and just 
documenting everything. 

755
00:34:36,320 --> 00:34:41,000
Because when you go to sell it, 
that buyer is probably going to 

756
00:34:41,000 --> 00:34:44,480
be pretty sophisticated. 
Even if it's a $500,000, two 

757
00:34:44,480 --> 00:34:50,239
$100,000, or a $50,000 company, 
these buyers are going to spend 

758
00:34:50,239 --> 00:34:52,679
a lot of their savings on it, 
and they're going to Google it 

759
00:34:52,679 --> 00:34:54,600
and they're going to talk to us 
and they're going to want all 

760
00:34:54,600 --> 00:34:58,280
these weird questions answered 
that you think are irrelevant. 

761
00:34:58,640 --> 00:35:02,800
Anybody who's buying a pizzeria 
knows if I'm making $100,000 a 

762
00:35:02,800 --> 00:35:05,160
year, I'm actually really making
more. 

763
00:35:05,760 --> 00:35:08,800
No, people don't know that, and 
they're not going to trust you. 

764
00:35:08,800 --> 00:35:13,600
They don't know you, so just 
document as best you can all of 

765
00:35:13,600 --> 00:35:16,080
your income and all of your 
expenses, and part of that 

766
00:35:16,080 --> 00:35:18,280
documentation should be your 
taxes, OK? 

767
00:35:18,560 --> 00:35:21,600
And then I'd also say if you can
get like standard operating 

768
00:35:21,600 --> 00:35:25,320
procedures, those manuals that 
we were just alluding to, those 

769
00:35:25,320 --> 00:35:28,520
things drive up the multiplier 
like like basically so we could 

770
00:35:28,520 --> 00:35:31,200
cook Whoever steps into your 
business doesn't have to 

771
00:35:31,200 --> 00:35:33,160
reinvent the wheel. 
Here's how we make the cookie. 

772
00:35:33,160 --> 00:35:35,520
Here's how we make the pizza. 
Here's exactly what we do. 

773
00:35:35,520 --> 00:35:37,440
Like you're selling, you're not 
going to be there. 

774
00:35:37,440 --> 00:35:40,000
So if the business relies on 
you, it's not a great business 

775
00:35:40,000 --> 00:35:41,360
to. 
Right, right. 

776
00:35:41,520 --> 00:35:44,720
Yeah, you guys, you have to be 
able to walk away and whoever 

777
00:35:44,720 --> 00:35:47,120
picks up the manual can run it 
and make money. 

778
00:35:47,560 --> 00:35:49,920
Or be prepared to do a bunch of 
seller financing. 

779
00:35:51,280 --> 00:35:52,400
Yeah. 
But I think John, when you say, 

780
00:35:52,400 --> 00:35:56,360
I'd say most of it like we 
really encourage our our sellers

781
00:35:56,360 --> 00:35:59,520
to have some skin in the game. 
So, you know, be prepared to 

782
00:35:59,520 --> 00:36:03,960
hold a little bit of paper it it
demonstrates commitment, belief 

783
00:36:03,960 --> 00:36:07,000
in the business. 
And so yeah, we really look to 

784
00:36:07,080 --> 00:36:09,200
like, we try to qualify 
everything with the SBA, but 

785
00:36:09,200 --> 00:36:12,760
like just absolutely having 
some, right. 

786
00:36:12,760 --> 00:36:16,120
I mean, be prepared for that, 
even if it's ten percent, 20%, 

787
00:36:16,120 --> 00:36:18,000
something of that kind. 
Like if we can't get your 

788
00:36:18,000 --> 00:36:21,000
evaluation to where you want it 
based on documenting what you've

789
00:36:21,000 --> 00:36:23,760
done, that gap you're going to 
finance. 

790
00:36:23,760 --> 00:36:24,960
You're going to finance it? 
Yeah. 

791
00:36:26,320 --> 00:36:28,040
OK. 
So it narrows your funnel down 

792
00:36:28,040 --> 00:36:30,120
right to those different buyers 
because there's going to be some

793
00:36:30,120 --> 00:36:32,440
that want it and have the down 
payment, but you don't want to 

794
00:36:32,440 --> 00:36:34,200
fund them because they don't 
know anything about cutting down

795
00:36:34,200 --> 00:36:34,840
trees. 
Right. 

796
00:36:34,840 --> 00:36:37,840
Yeah. 
One other question before we 

797
00:36:37,840 --> 00:36:40,000
talk about Rainier just way 
more. 

798
00:36:40,760 --> 00:36:43,120
No, not at all. 
This is fascinating to me. 

799
00:36:43,120 --> 00:36:45,240
But also when he told me he was 
going to Mount Rainier with his 

800
00:36:45,240 --> 00:36:47,440
boys that go climbing, like I 
got to talk to him about that. 

801
00:36:48,080 --> 00:36:51,280
Yeah, right. 
The question I have I meant to 

802
00:36:51,280 --> 00:36:53,920
ask before was you had mentioned
that you could sell a business 

803
00:36:53,920 --> 00:36:56,200
even if it's not making. 
Oh yeah, absolutely. 

804
00:36:56,360 --> 00:36:59,560
Like do you have to go in and do
the work to get it to making 

805
00:36:59,560 --> 00:37:01,480
money or can you sell sell it 
even though it's. 

806
00:37:01,480 --> 00:37:03,520
Showing I'm not running your 
business, I'm helping you sell 

807
00:37:03,520 --> 00:37:05,160
and market the business for 
sale. 

808
00:37:05,760 --> 00:37:07,560
So we would look at why it's not
making money. 

809
00:37:09,080 --> 00:37:10,760
Yeah. 
And we would we, you know, total

810
00:37:10,760 --> 00:37:13,080
transparency to the buyers. 
Like this isn't a shell game. 

811
00:37:13,080 --> 00:37:15,640
I can always sell my company if 
I can get 1,000,000 bucks for 

812
00:37:15,640 --> 00:37:17,160
it. 
Well, I'm not trying to RIP off 

813
00:37:17,160 --> 00:37:20,800
a buyer and I'm not trying to, 
you know, RIP off the seller 

814
00:37:20,800 --> 00:37:23,880
either and get them just out of 
the business with needs to be a 

815
00:37:23,960 --> 00:37:25,920
transparent process all the way 
through. 

816
00:37:25,920 --> 00:37:28,480
So this isn't. 
Maybe somebody needs a write off

817
00:37:28,480 --> 00:37:30,760
and so they're looking for a 
business that's losing money. 

818
00:37:31,040 --> 00:37:33,760
Or maybe they have industry 
experience that the person who 

819
00:37:33,760 --> 00:37:35,160
started the business doesn't 
have. 

820
00:37:35,160 --> 00:37:37,120
Maybe somebody bought a 
franchise. 

821
00:37:37,120 --> 00:37:40,760
Yeah, I actually, oh shit. 
What's her name? 

822
00:37:42,200 --> 00:37:44,320
There's a girl that's got like, 
she's basically an Internet 

823
00:37:44,320 --> 00:37:49,480
influencer about buying 
businesses and I can't remember 

824
00:37:49,480 --> 00:37:51,120
what the hell her name is, but I
could. 

825
00:37:51,360 --> 00:37:53,600
Almost guarantee you that they 
have never actually bought or 

826
00:37:53,600 --> 00:37:56,000
sold the business. 
I don't know, but she often 

827
00:37:56,000 --> 00:37:58,680
talks about buying businesses 
that are losing money, 

828
00:37:58,720 --> 00:38:01,440
undervalued, and that you can 
buy them cheap and then you go 

829
00:38:01,440 --> 00:38:03,840
in and you just got to fix what 
they're doing wrong and then 

830
00:38:03,840 --> 00:38:06,000
you're turning a profit on a 
business that was formerly. 

831
00:38:06,080 --> 00:38:09,280
I have a friend in Houston that 
was just at this training and 

832
00:38:09,280 --> 00:38:10,880
that's what he did, 55 
businesses. 

833
00:38:10,880 --> 00:38:13,720
He looks to go in to buy 
undervalued businesses. 

834
00:38:13,720 --> 00:38:16,560
And so if they're losing money, 
he's like, that's fine. 

835
00:38:16,720 --> 00:38:19,320
He looks at it and says, I think
I can flip this thing and make 

836
00:38:19,560 --> 00:38:22,040
in three, three to five years 
and help it make money. 

837
00:38:22,040 --> 00:38:25,840
And he's done it with all sorts 
of things, oil change, Lube 

838
00:38:25,840 --> 00:38:28,160
shops, you know, those sorts of 
places he's done it with. 

839
00:38:28,240 --> 00:38:30,600
I have to imagine it's you're 
buying businesses that don't 

840
00:38:30,600 --> 00:38:32,520
have those standard operating 
procedures, right? 

841
00:38:32,600 --> 00:38:34,560
Like, so you're going in, you're
going to clean up the mess, 

842
00:38:34,560 --> 00:38:37,040
you're going to organize it, get
it streamlined, get it 

843
00:38:37,040 --> 00:38:39,360
profitable, and then sell it. 
That's exactly what they're 

844
00:38:39,360 --> 00:38:41,040
doing. 
Sounds fun, that is. 

845
00:38:41,360 --> 00:38:42,840
It does right it. 
Sounds fun. 

846
00:38:42,840 --> 00:38:43,800
We'll get you in our database, 
yeah. 

847
00:38:45,040 --> 00:38:47,400
I got no money. 
I own a newspaper. 

848
00:38:49,440 --> 00:38:51,080
All right, thank you for 
answering those questions. 

849
00:38:51,320 --> 00:38:53,520
Let's talk about Rainier. 
Just real quick. 

850
00:38:53,520 --> 00:38:55,720
So I don't want to keep you guys
all day, but I just tell me 

851
00:38:55,720 --> 00:38:57,920
about climbing Mount Rainier 
with your sons. 

852
00:38:57,920 --> 00:39:02,000
Yeah, So, well, you know, my 
sons from jiu jitsu and yeah, 

853
00:39:02,040 --> 00:39:04,880
they, well, they're triplets, 
so. 

854
00:39:05,760 --> 00:39:08,080
And one is a marine stationed in
Pendleton. 

855
00:39:08,080 --> 00:39:11,200
And he asked last year, hey, 
dad, he knew I had done a bunch 

856
00:39:11,200 --> 00:39:12,720
of mountaineering and just a 
guide. 

857
00:39:12,720 --> 00:39:14,720
And he said, do you want to go 
to Denali? 

858
00:39:14,760 --> 00:39:16,160
And I was like, do you want to 
climb Denali? 

859
00:39:16,160 --> 00:39:19,480
And I said, Sheamus, to get to 
Denali, there's a lot of baby 

860
00:39:19,480 --> 00:39:21,880
steps. 
And so I said, let's first do an

861
00:39:21,880 --> 00:39:25,440
expedition to Rainier. 
And so we had a week on mountain

862
00:39:25,440 --> 00:39:28,200
Rainier. 
And, you know, as a father, you 

863
00:39:28,200 --> 00:39:30,480
know this, it was like joyous 
for me. 

864
00:39:30,480 --> 00:39:31,480
Oh my God. 
It sounds amazing. 

865
00:39:31,560 --> 00:39:34,000
It was absolutely it was, it 
was. 

866
00:39:34,080 --> 00:39:35,720
There was some suffering. 
There's always suffering 

867
00:39:35,720 --> 00:39:37,800
involved mountaineering, but 
well, 'cause it's still. 

868
00:39:37,800 --> 00:39:39,600
Cold this time of year. 
I'm not Rainier, right? 

869
00:39:39,640 --> 00:39:42,600
Oh, yeah, It's cold. 
Well, like, our day one was like

870
00:39:42,600 --> 00:39:44,560
45 and rainy. 
We got soaked. 

871
00:39:44,560 --> 00:39:47,200
Yeah, You know, we were like, 
mildly hypothermic. 

872
00:39:47,480 --> 00:39:50,160
You're getting into altitude. 
Yeah, yeah, it's only getting 

873
00:39:50,160 --> 00:39:51,560
colder and you're wet, right? 
Yeah. 

874
00:39:51,560 --> 00:39:52,840
Sweet. 
Let's do it. 

875
00:39:53,640 --> 00:39:58,400
So, so yeah, that was at 8500 
feet and then we get up to 

876
00:39:58,440 --> 00:40:00,160
10,000 feet. 
We were doing disappointment 

877
00:40:00,160 --> 00:40:03,160
Cleaver route, pretty standard 
route, really. 

878
00:40:03,280 --> 00:40:07,760
There's a lot of guiding on it. 
Spent two nights on at Camp Muir

879
00:40:08,200 --> 00:40:13,080
and did a whole bunch of crass 
rescue, ice climbing, you know, 

880
00:40:13,080 --> 00:40:15,440
just sort of glacier travel, 
navigating all that. 

881
00:40:15,760 --> 00:40:17,960
Went to high camp. 
One of my son's actually got 

882
00:40:17,960 --> 00:40:20,280
altitude sickness. 
So we were debating, do we go 

883
00:40:20,280 --> 00:40:22,720
down? 
And it's this whole family group

884
00:40:22,720 --> 00:40:25,080
dynamic. 
And Sheamus had two other 

885
00:40:25,080 --> 00:40:28,880
Marines there. 
That he's buddies with and so 

886
00:40:28,880 --> 00:40:32,320
the six of us were like figuring
it out and Brendan was like, I, 

887
00:40:32,600 --> 00:40:34,640
it was incredible because he's 
like, listen, I think I'm good 

888
00:40:34,640 --> 00:40:38,000
for you guys to summit and then 
we'll go down and he's AEMT 

889
00:40:38,000 --> 00:40:39,960
Wellness EMT. 
So he's like, I think I'm fine 

890
00:40:40,440 --> 00:40:42,080
you guys summit. 
I don't want to have to get up 

891
00:40:42,080 --> 00:40:44,720
and turn around at 12,000 feet 
because I can't breathe. 

892
00:40:45,600 --> 00:40:48,760
So we, we climbed it and you 
know, we get to the summit and 

893
00:40:48,840 --> 00:40:52,000
you know, I'm 56. 
So my one son looks at me and 

894
00:40:52,000 --> 00:40:53,840
goes, dad, you know, that was 
really hard. 

895
00:40:54,400 --> 00:40:57,480
He says I'm I'm I can't believe 
you did it. 

896
00:40:57,480 --> 00:40:58,960
It's great. 
And I was like, oh, and I 

897
00:40:58,960 --> 00:41:02,000
thought we were having a moment 
and I said, OK, thanks. 

898
00:41:02,000 --> 00:41:04,120
I go, well, just think when 
you're my age, you could take 

899
00:41:04,280 --> 00:41:06,040
your kids to an ear and have 
this moment. 

900
00:41:06,200 --> 00:41:07,840
He goes, fuck that, I'm going to
the beach. 

901
00:41:09,160 --> 00:41:10,280
This is not. 
Suffering. 

902
00:41:12,280 --> 00:41:14,320
Yeah. 
I meant like, I've never done 

903
00:41:14,320 --> 00:41:17,080
anything like that, but I've 
read all the books. 

904
00:41:17,080 --> 00:41:19,720
Yeah, you know what I mean? 
And I've always wanted to do 

905
00:41:19,720 --> 00:41:22,080
some sort of mountaineering and 
do some sort of like crazy. 

906
00:41:22,160 --> 00:41:23,720
Let's go do it, man. 
Dude. 

907
00:41:24,480 --> 00:41:25,680
I mean, there's so much great 
mountaineering. 

908
00:41:26,040 --> 00:41:27,640
You. 
Know like the Adirondacks, like 

909
00:41:27,640 --> 00:41:30,560
north face of you could do the 
trap dyke, you could do north 

910
00:41:30,680 --> 00:41:35,240
like what is it the I'm thinking
of the Gothics north face. 

911
00:41:35,400 --> 00:41:37,520
There's a lot of mountaineering 
objectives on the east. 

912
00:41:37,640 --> 00:41:41,080
And then obviously Rainier is 
then, you know, it's beautiful 

913
00:41:41,080 --> 00:41:43,880
and to have that moment with my 
kids was it's amazing. 

914
00:41:43,880 --> 00:41:44,840
It was amazing. 
I mean. 

915
00:41:45,360 --> 00:41:48,640
But to be clear, outside of like
reading Iger dreams, I don't 

916
00:41:48,640 --> 00:41:50,320
know anything about 
mountaineering, man. 

917
00:41:50,320 --> 00:41:53,640
I, you know, like I've never 
done other than just standard 

918
00:41:53,640 --> 00:41:55,680
hiking, I've never done any sort
of climbing like that. 

919
00:41:55,680 --> 00:41:57,520
So it fascinates me. 
Oh, it's amazing. 

920
00:41:57,520 --> 00:41:59,480
Yeah, I used to. 
I, I work for Knowles National 

921
00:41:59,480 --> 00:42:01,560
Outdoor Leadership School in 
Wyoming and work for Outward 

922
00:42:01,560 --> 00:42:04,360
Bound and did a lot of 
mountaineering prior to having 

923
00:42:04,360 --> 00:42:05,240
children. 
Yeah. 

924
00:42:05,480 --> 00:42:08,720
And so it was was. 
It like as a father up there 

925
00:42:08,720 --> 00:42:11,360
with your sons, were you like 
freaked out worrying about your 

926
00:42:11,360 --> 00:42:12,960
kids that something was going to
happen the whole time? 

927
00:42:12,960 --> 00:42:14,640
Because I feel like I would be 
the worrywart. 

928
00:42:14,640 --> 00:42:16,520
They'd probably. 
Did most of that, yeah. 

929
00:42:16,760 --> 00:42:17,360
Yeah, right. 
Yeah. 

930
00:42:18,080 --> 00:42:20,560
True, you know, You know what it
was like the day that we were 

931
00:42:20,560 --> 00:42:22,520
hypothermic. 
We had big packs, we're climbing

932
00:42:22,520 --> 00:42:24,200
up. 
We weren't majorly hypothermic, 

933
00:42:24,200 --> 00:42:27,560
but it was uncomfortable. 
And my son Brendan was 

934
00:42:27,600 --> 00:42:31,200
incredibly supportive. 
And I was like, again, they're 

935
00:42:31,200 --> 00:42:33,000
25. 
And I was like, you're a man. 

936
00:42:33,120 --> 00:42:36,160
It was this moment where I was 
like, he had empathy, he had 

937
00:42:36,160 --> 00:42:38,320
leadership, and he was doing all
these things. 

938
00:42:38,320 --> 00:42:42,080
And I just, I didn't feel like, 
oh, I'm in charge. 

939
00:42:42,080 --> 00:42:43,440
I'm the dad. 
I got to keep you safe. 

940
00:42:43,440 --> 00:42:44,800
I was like, we're part of a team
now. 

941
00:42:44,800 --> 00:42:46,920
It was like this reckoning as a 
parent. 

942
00:42:46,920 --> 00:42:47,920
That's cool. 
Yeah. 

943
00:42:47,920 --> 00:42:49,120
It was. 
It was amazing. 

944
00:42:49,280 --> 00:42:51,280
Yeah. 
And honestly, I think it's 

945
00:42:51,280 --> 00:42:53,840
always the same, but like having
some form of a little bit of 

946
00:42:53,840 --> 00:42:55,880
suffering and then, you know, it
was glorious. 

947
00:42:55,880 --> 00:42:57,080
There, I'm all about the 
suffering. 

948
00:42:57,640 --> 00:42:59,960
I do love that part. 
Yeah, I know you do a lot of be 

949
00:42:59,960 --> 00:43:01,960
great. 
I yeah, Anything that's hard. 

950
00:43:01,960 --> 00:43:03,480
That's good. 
Very uncomfortable and 

951
00:43:03,480 --> 00:43:04,040
suffering. 
Love it. 

952
00:43:04,320 --> 00:43:05,200
Yeah. 
All right. 

953
00:43:05,320 --> 00:43:06,760
Yeah. 
No more neon belly. 

954
00:43:06,760 --> 00:43:07,840
No more neon belly. 
No one. 

955
00:43:07,840 --> 00:43:09,680
That's what you. 
I think that's actually what I'd

956
00:43:09,680 --> 00:43:11,560
have to. 
I was, I was thinking about it 

957
00:43:11,560 --> 00:43:13,080
afterwards. 
I think you've got me with neon 

958
00:43:13,080 --> 00:43:14,120
belly. 
Neon belly. 

959
00:43:14,160 --> 00:43:17,520
What is that? 
It's a you basically put your 

960
00:43:17,520 --> 00:43:20,520
knee on someone's belly with a 
lot of force and then you're and

961
00:43:20,680 --> 00:43:23,960
then I probably, yeah, I don't 
know if I, I probably moved to a

962
00:43:23,960 --> 00:43:25,720
choke or an arm bar or 
something. 

963
00:43:25,720 --> 00:43:28,680
But yeah, it's a lot of fun. 
Love jiu jitsu. 

964
00:43:29,200 --> 00:43:30,280
Love it. 
It's fun, yeah. 

965
00:43:30,320 --> 00:43:33,480
Have you rolled at all? 
Well, you know, it's such a 

966
00:43:33,480 --> 00:43:38,000
drive down here, but we have 
mats in my in our gym and every 

967
00:43:38,000 --> 00:43:39,360
place we travel. 
I've rolled. 

968
00:43:39,360 --> 00:43:44,520
So I actually rolled at Jocko's 
gym in San Diego. 

969
00:43:44,520 --> 00:43:46,760
Yeah, that's awesome. 
So still the white belt. 

970
00:43:47,000 --> 00:43:49,880
Well, that's all right, man. 
You got to get over to the new 

971
00:43:49,880 --> 00:43:51,920
Alliance shop over at the mall. 
I want to. 

972
00:43:51,920 --> 00:43:53,080
It's amazing. 
It's great. 

973
00:43:53,080 --> 00:43:54,240
I mean, those guys are awesome. 
They're. 

974
00:43:54,240 --> 00:43:55,640
Incredible. 
Yeah, we loved. 

975
00:43:55,720 --> 00:43:58,400
I mean, that was formative for 
my whole family, actually. 

976
00:43:58,560 --> 00:44:00,960
It's a great program, a lot of 
great jiu jitsu in the area, but

977
00:44:00,960 --> 00:44:03,440
I do love that alliance system 
that they have so. 

978
00:44:03,560 --> 00:44:04,920
Yeah, I do too. 
It's cool. 

979
00:44:05,080 --> 00:44:07,160
Wow, just so great. 
Mike, thanks so much for having.

980
00:44:07,200 --> 00:44:09,920
Us thanks for coming out to the 
farm and coming to the kitchen 

981
00:44:09,920 --> 00:44:11,880
table and having a conversation.
I love the kitchen spot. 

982
00:44:11,920 --> 00:44:13,000
Yeah, yeah. 
Thank. 

983
00:44:13,040 --> 00:44:14,880
You a lot of fun, so thanks so 
much. 

984
00:44:15,400 --> 00:44:17,600
If they want to, someone wants 
to get a hold of you guys, where

985
00:44:17,600 --> 00:44:19,560
do they find you OK? 
Yeah, just go to 

986
00:44:19,560 --> 00:44:22,160
transteeworld.com. 
OK. 

987
00:44:22,440 --> 00:44:25,360
Back slash Albany, Yeah, Go to 
Back Slash Albany to see our 

988
00:44:25,360 --> 00:44:28,320
local office here, Yeah. 
OK, you guys on any social media

989
00:44:28,320 --> 00:44:31,160
or anything like that? 
Yeah, we have a Google page, of 

990
00:44:31,160 --> 00:44:34,600
course, our website, We have a 
Facebook page. 

991
00:44:34,760 --> 00:44:38,440
You just search on Teeworld or 
Transworld Business Advisors. 

992
00:44:38,440 --> 00:44:42,960
We're gonna be the full couple 
pages of Google Chat GPTS. 

993
00:44:42,960 --> 00:44:44,440
Awesome. 
We'll make sure there's links 

994
00:44:44,440 --> 00:44:46,800
and stuff in the bio too so 
people can get a hold of you. 

995
00:44:46,800 --> 00:44:48,960
Appreciate it, love it. 
Thanks so much, Mike. 

996
00:44:49,040 --> 00:44:51,120
Absolutely. 
Absolutely thanks everybody for 

997
00:44:51,120 --> 00:44:53,880
listening of course, and thanks 
to our community partners for 

998
00:44:54,040 --> 00:44:55,840
supporting us and doing all that
we do. 

999
00:44:56,120 --> 00:44:59,200
Can't do without you. 
You can also, of course, find us

1000
00:44:59,400 --> 00:45:02,120
Spotify, Apple Rumble and 
YouTube. 

1001
00:45:02,120 --> 00:45:05,960
Make sure to hit subscribe like 
a couple of videos or posts and 

1002
00:45:06,000 --> 00:45:07,840
leave us a five star review. 
Thanks everybody.