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Speaker 3: All right, guys, welcome back EYL. A few weeks ago,

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Speaker 3: probably like a couple of months ago. Actually, we started

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Speaker 3: because people always ask to all the time, like how

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Speaker 3: do I get on the podcast? How can I get

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Speaker 3: on the podcast? So we have a variety of different

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Speaker 3: ways to bring people on the podcast. Like some people

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Speaker 3: we know personally, some people get referred to, some people

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Speaker 3: we reach out to. So what we wanted to do

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Speaker 3: also is to have like kind of like like open

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Speaker 3: audition for lack of a better word. Whereas we do

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Speaker 3: Instagram Live and then people just come on and then

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Speaker 3: they just talk, and then it's like they got a

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Speaker 3: compelling story and something that we haven't covered. It's like,

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Speaker 3: let's bring people like our supporters, like you know what

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Speaker 3: I mean, because that's a way to actually engage the

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Speaker 3: community as well. It's like, we have a bunch of supporters,

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Speaker 3: so let's bring some of our supporters on and people

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Speaker 3: that we may not have known about.

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Speaker 4: So it keeps the community alive. That way, you'll always

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Speaker 4: have people because either people are coming up with ideas

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Speaker 4: or they're hearing ideas and they're actually saying, listen, next year,

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Speaker 4: I'm gonna be on your show. And the response is

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Speaker 4: always the same, I can't wait, Let's do it. Yeah yeah,

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Speaker 4: so for sure.

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Speaker 3: So Carl Pierre, he came on an Instagram Live about

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Speaker 3: a month ago, maybe a month and a half ago,

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Speaker 3: and when he came on, he was spending a lot

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Speaker 3: of information about the healthcare industry and a bunch of stuff,

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Speaker 3: and everybody that was on the live watching it.

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Speaker 4: They agreed like you should get at them.

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Speaker 3: So we set up a time and actually it was

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Speaker 3: crazy because obviously I was before this whole COVID nineteen outbreak,

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Speaker 3: so we couldn't do it in person.

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Speaker 4: We had to reschedule it it.

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Speaker 3: And now we're setting it up on a zoom, so

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Speaker 3: I'm gonna do the introduction. So Carl, he's interesting because

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Speaker 3: we haven't covered the healthcare industry and it's ironic that

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Speaker 3: we're covering it now.

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Speaker 4: It's like perfect time.

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Speaker 3: But the healthcare industry makes up eighteen percent of the

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Speaker 3: US GDC. It's a three point six trillion dollar industry,

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Speaker 3: and it's so vast, like there's so many different fields

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Speaker 3: within the healthcare industry.

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Speaker 4: Right so we can only imagine that number is going up.

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Speaker 3: Of course, So only thing that we hear on the

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Speaker 3: news right now is healthcare because of obviously what's going

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Speaker 3: on with COVID nineteen crisis. Yeah, exact epidemic, pandemic, pandemic.

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Speaker 3: So but Carl's interesting because even before this, he's been

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Speaker 3: an entrepreneur in the healthcare space. So he has a

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Speaker 3: home nurse staffing company with over three hundred employees where

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Speaker 3: they help people like elderly people thinks like long term

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Speaker 3: care situation where they you know, they desploy nurses to

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Speaker 3: people's Home. And then he also is called Avalanche Care.

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Speaker 3: And then he also has a software company that he's

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Speaker 3: built for medical payroll. That's pretty interesting. Call all time, yes.

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Speaker 3: And then he has a new new venture called eight Book.

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Speaker 3: So we at all that stuff. It's a lot going on,

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Speaker 3: but first and foremost called thank you appreciate.

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Speaker 5: It with something man, thank you, thank you for having me.

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Speaker 5: Definitely watch the show.

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Speaker 6: I've been paying attention, and uh, it's good to be

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Speaker 6: to be able to split some game to the people

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Speaker 6: and really show them that there's a pathway.

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Speaker 5: To whatever level of success that you that you bought.

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Speaker 6: And I'm going to try to at least show them

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Speaker 6: the pathway through through health healthcare at least. And I

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Speaker 6: also do so on my channel, which I'm not sure

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Speaker 6: if you guys ever checked out, but I showed exactly

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Speaker 6: how to invest in real estate, and I'm now showing

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Speaker 6: my process of how to start a home care agency

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Speaker 6: and scale it up, so anybody who's interested can continue

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Speaker 6: to follow that story and really learn how to go

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Speaker 6: about that.

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Speaker 4: That's the e NTP life. Come on, man, we've been

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Speaker 4: watching you, all right, So let's let's talk about the backstory.

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Speaker 3: So you you know, West Indian descent shout out to

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Speaker 3: the Haitian massive, So yeah, you know choice you're making.

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Speaker 3: So you said that your your family, you come from

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Speaker 3: a line of healthcare workers, right, which is not which

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Speaker 3: is not uncommon for Indian furse, doctor, practitioner, things of

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Speaker 3: that nature. So all right, but you said that you

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Speaker 3: know your family with healthcare workers and you're you're a

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Speaker 3: healthcare entrepreneur. So can you talk about that as far

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Speaker 3: as your backstory into coming into the health field and

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Speaker 3: what made you transition your family's trajectory from being a

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Speaker 3: healthcare worker to being a healthcare entrepreneur?

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Speaker 5: Gotcha? So well, I guess the story starts man.

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Speaker 6: Mom was in nursing school while she was pregnant with me, right,

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Speaker 6: so I always saw her work, and she was working

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Speaker 6: in the hospitals in New York City during the AIDS epidemic,

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Speaker 6: So it was a constant bit of conversation in the house,

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Speaker 6: what's going on in healthcare? How to take care of yourself?

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Speaker 6: What are the trends? And I saw her progress from

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Speaker 6: being a staff nurse to floor supervisor to an assistant

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Speaker 6: director of a nursing home. So she was always progressive

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Speaker 6: in her career, and my father was a respiratory therapist,

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Speaker 6: still working and he's dealing with a lot with COVID nineteen. Yeah,

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Speaker 6: and he's a respiratory therapist. So every patient that's coming

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Speaker 6: in to see him all coming to see him. So

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Speaker 6: for them, their vision for all their children were was

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Speaker 6: to work in healthcare and of course be a doctor.

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Speaker 5: Right.

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Speaker 6: So one of my brothers is a physician, and yeah,

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Speaker 6: so essentially the idea was always that we would go

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Speaker 6: the doctor route, right. So I did start thinking of about,

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Speaker 6: I guess business until I was like about thirteen fourteen

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Speaker 6: years old, because my mom started a nurse staff infirm.

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Speaker 6: She was working at a nursing home and they were

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Speaker 6: using what they call agency nurses, and she was like, well,

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Speaker 6: why don't I just start when I don't, just start

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Speaker 6: an agency and get my friends from other hospitals to

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Speaker 6: work for me and be one of your providers.

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Speaker 5: And that's where that company started. But my mom has

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Speaker 5: like zero.

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Speaker 6: Computer skills, so when it was time to create the documents,

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Speaker 6: it was me making the documents.

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Speaker 5: When it was time to create.

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Speaker 6: Spreadsheets, to do the invoicing, to manage quick books, anything

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Speaker 6: that was on a computer was me right, because I

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Speaker 6: was the kind of computer geek of my household. So

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Speaker 6: it's like, Oh, Carl, I need this, can you know

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Speaker 6: how to make this it? Could you get get it

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Speaker 6: out of the computer. So it was always me and

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Speaker 6: my mom working on that side of the business. So

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Speaker 6: when I went to college, I ended up expanding the

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Speaker 6: business into Lowland, and every lesson that I took that

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Speaker 6: I could kind of like learn from to bring that

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Speaker 6: knowledge back to the business, I did, and I ended

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Speaker 6: up studying health technology and management with a concentration in

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Speaker 6: radiology radiological studies, and that was to become an X

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Speaker 6: ray tech and a CATSCAN technologist and an MRI technologist.

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Speaker 6: And I chose that path because I wanted to have

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Speaker 6: flexibility in when I worked, right, because there's certain positions

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Speaker 6: in healthcare that are twenty four seven and there's some

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Speaker 6: of them that are only like nine to five, And

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Speaker 6: I didn't want to choose a career path within healthcare

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Speaker 6: that would narrow me down.

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Speaker 5: To work in nine to five because I knew I needed.

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Speaker 6: To have the nine to five the business hours free

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Speaker 6: to expand on my business. So that was kind of

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Speaker 6: the reason why I chose x ray because it's you know,

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Speaker 6: their X ray techs are working all shifts, they're doing

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Speaker 6: catscan at night, or they could flex into MRI. So

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Speaker 6: I thought that that was going to be the best

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Speaker 6: fit for me. And plus I knew that I would

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Speaker 6: have work as well. And I never you know, and

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Speaker 6: this is a message anybody who's thinking about going the entrepreneuribile.

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Speaker 5: I never like to not have a guaranteed income from somewhere.

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Speaker 6: And I felt like, I'm if I can work nights

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Speaker 6: and I could work weekends and use all of my

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Speaker 6: free time during the day to focus in the business,

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Speaker 6: then I'm going to do that. But I'm never going

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Speaker 6: to sacrifice the potential to earn. And that's one of

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Speaker 6: the things that is pretty special about about healthcare is

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Speaker 6: because you know, a nurse could work, you know, three

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Speaker 6: three days a week, three thirteen hour shifts or three

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Speaker 6: twelve hour shifts, be full time, and then have four

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Speaker 6: days a week, you know, on a nurse's sally at

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Speaker 6: that four days a week to focus on whatever else.

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Speaker 4: It is that it's like a firefighter. It's like a firefighter.

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Speaker 3: Like a lot of firefighters, they work like two twenty

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Speaker 3: four hour shifts and then they got the rest of

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Speaker 3: the week where they can do, you know, a variety

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Speaker 3: whatever else they want to do in life. So it's

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Speaker 3: like you can be a real estate entrepreneur, you can

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Speaker 3: work another job if you want.

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Speaker 7: It's like, you know, it's it's pretty flexible out So let.

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Speaker 4: Me ask you this.

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Speaker 3: As far as the healthcare industry is something that pretty

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Speaker 3: much is recession proof, there's a shortage just like the

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Speaker 3: only especially nurses, there's the only professional I think that

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Speaker 3: is extremely on demand right now where everybody else is

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Speaker 3: firing people and it's like they can't find enough nurses,

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Speaker 3: especially where we're at in New York. So as far

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Speaker 3: as that is concerned, right for an entrepreneur, because we

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Speaker 3: don't get in the business model of it, how did

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Speaker 3: you like, what was the steps for you to start

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Speaker 3: your Your home is it? I don't have a misquote.

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Speaker 3: It's a home nursing service home long term nursing service.

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Speaker 4: Care agency, homecare.

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Speaker 6: Agency, care service agency. And in New York they call

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Speaker 6: them lixas and jos. It's two types actually, But it

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Speaker 6: started first as a staffing firm, which is very simple

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Speaker 6: to start a staffing firm.

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Speaker 5: Just need to incorporate yourself. You need to have a contract.

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Speaker 6: That's is that you're going to be providing, you know,

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Speaker 6: contracted services, a rate sheet that says how much you're charging,

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Speaker 6: and you're in business literally for less.

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Speaker 5: Than a thousand dollars.

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Speaker 6: You could start out a nursing agency, right because and

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Speaker 6: it's it's actually mislabeled as a nursing agency because you're

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Speaker 6: not taking a percentage of the wages of that employee.

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Speaker 6: So like in New York City, we could get a

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Speaker 6: license to be an agency through consumer Affairs, so and.

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Speaker 5: That's a very easy process.

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Speaker 6: But that's because you're charging a fee to the person

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Speaker 6: that you that you're getting the job for.

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Speaker 5: Right.

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Speaker 6: A staffing firm is different because those people work for

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Speaker 6: your company and you're assigning them to work in a hospital,

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Speaker 6: in a nursing home or something like that, and you're

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Speaker 6: charging the hospital of fee, taking your.

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Speaker 5: Cut, and then paying your employee.

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Speaker 6: So it's not by definition an agency, but they just

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Speaker 6: refer to them as agency nurses.

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Speaker 4: That's what technology is. Where did the idea for the

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Speaker 4: staffing agency come? Right, So you're doing X rays? You

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Speaker 4: deviated from the plan of being a doctor. Was it

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Speaker 4: from the influx of people coming into the hospital and

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Speaker 4: seeing that there was a shortage. Where did the influence

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Speaker 4: come from.

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Speaker 5: Well, the influence came from my mom.

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Speaker 6: She just saw an opportunity for a money grab and

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Speaker 6: she was like, well, if I know several nurses myself

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Speaker 6: and I'm a nurse, so if I could start this,

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Speaker 6: then I could just pull my friends together and we

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Speaker 6: could provide services to these you know, understaffed hospitals and

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Speaker 6: nursing homes.

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Speaker 5: So that's where the idea came from. I got to

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Speaker 5: give her that.

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Speaker 6: But being exposed to that at fourteen years old made

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Speaker 6: and seeing what the numbers were made it like, okay,

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Speaker 6: this is a no brainer for me to kind of

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Speaker 6: expand on that. But while we were in the staff

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Speaker 6: in firm business, she also was like, well, since we're

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Speaker 6: doing well here, there's another side to this business, which

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Speaker 6: is home healthcare.

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Speaker 5: And I see those companies and she worked.

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Speaker 6: She would work, and that's my mom is I guess

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Speaker 6: pretty genius. Would have work for them to kind of

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Speaker 6: learn how they maneuver and get exposed to like where

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Speaker 6: they get their contracts from, how what's the money flown.

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Speaker 6: And then she was like, all right, let's look into

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Speaker 6: getting a license. So while we were in high school.

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Speaker 5: We were working with a license.

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Speaker 6: A license didn't hit until two thousand and one. But

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Speaker 6: the staffing firm business was going well. I had expanded

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Speaker 6: to Long Island. We didn't do anything with the nursing agency,

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Speaker 6: I mean with the home healthcare agency.

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Speaker 5: It was just sitting there dormant. But something cool happened,

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Speaker 5: which is New.

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Speaker 6: York State stopped issuing the licenses, right, they capped out

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Speaker 6: the licenses. So we saw a getting phone calls to

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Speaker 6: buy a license, and the phone call first it was

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Speaker 6: fifty thousand dollars. That it was one hundred thousand dollars,

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Speaker 6: then it was two hundred and fifty thousand, there was

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Speaker 6: four hundred thousand, and.

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Speaker 5: We thought about selling it just to fuel the staffing firm.

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Speaker 6: But it was like, wait, if we're getting offered four

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Speaker 6: hundred k for this license to operate, there's money here, right,

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Speaker 6: And that's when we pivoted into home healthcare.

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Speaker 4: So what was what was the reason that New York

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Speaker 4: State decided to stop issuing the license?

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Speaker 6: Oh, the same reason why they're trying to scale back

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Speaker 6: the agencies now. It's just too much oversight, right, So

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Speaker 6: there's more than two thousand agencies in New York, right,

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Speaker 6: every three years we get surveyed by the state and

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Speaker 6: they have to send three nurses to your agency to

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Speaker 6: review your medical records.

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Speaker 5: So to do that to two thousand agencies, you need

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Speaker 5: a lot of personnel.

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Speaker 6: So it gets out of control every now and then

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Speaker 6: where it's just too many people to monitor. So they're

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Speaker 6: actually trying to force a consolidation within the industry, shrinking

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Speaker 6: the number of licenses that are out there so it's

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Speaker 6: easier for them to maintain oversight.

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Speaker 3: So all right, so in a sense you have the

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Speaker 3: company where it's like a middleman. In a sense, staffing

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Speaker 3: is actually really big. We haven't even to talk about

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Speaker 3: staffing on this podcast before. But so you recruit, you

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Speaker 3: recruit people for jobs pretty much, and staffing you could

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Speaker 3: do any you could do staffing in any type of it, staffing,

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Speaker 3: NA staff and stuff like that. And then you you

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Speaker 3: charge the high hospital and they pay you and then

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Speaker 3: you paid a difference. How lucrative can that?

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Speaker 5: Like?

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Speaker 4: Is there what's the profit margins on those?

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Speaker 5: So it could be.

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Speaker 6: As much as fifty percent because it depends on what

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Speaker 6: the hospital is willing to pay. In home care, the

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Speaker 6: profit margins about eleven to thirteen percent because it's getting

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Speaker 6: Medicaid dollars and the margins are small there, just like

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Speaker 6: the margin for a hospital is only eight percent, right,

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Speaker 6: hospitals are a functioning on eight percent margin. But with

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Speaker 6: staffing itself, it can be as high as fifty because

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Speaker 6: it's it's how desperate are they for staff and what

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Speaker 6: are they willing to pay? So usually you're charging like

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Speaker 6: a thirty percent markup over what you're paying.

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Speaker 3: Your staff, So fifty percent the best case scenario, if

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Speaker 3: they give you two hundred, you give the employee one hundred.

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Speaker 4: And you take and you're taking one hundred.

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Speaker 8: Yeah, clean, clean if if if that's what they negotiated, right,

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Speaker 8: So with the nursing comp it's usually about thirty percent

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Speaker 8: over because the hospital and the nursing facility is thinking,

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Speaker 8: well do we pay our nurses?

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Speaker 5: What about matching their payroll taxes? Right?

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Speaker 6: That's another expense their workers comp and their healthcare expenses

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Speaker 6: plus PTO. So when you're trying to you want to

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Speaker 6: come in as close to their price or their overtime

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Speaker 6: price as possible because they're either going to mandate their

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Speaker 6: staff to work overtime or they're going to use an agency,

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Speaker 6: and if you come in for like a dollar or

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Speaker 6: two less than what that figure is, it's now a

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Speaker 6: saving to that facility and they'll be interesting. So you

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Speaker 6: can charge like thirty to fifty percent above because if

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Speaker 6: it's at fifty percent, you know you're hitting the time

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Speaker 6: and a half member right, and they're still going to

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Speaker 6: they still may be short, so they still may go

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Speaker 6: with you even though it's equal to their time in

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Speaker 6: the half number. And that doesn't include the workers compon

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Speaker 6: taxes that they're going to have to pay as the employer.

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Speaker 4: So can we go back to that four hundred thousand

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Speaker 4: offer for the license? Did you guys decide to sell?

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Speaker 4: You decide, you know what, we got something great here,

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Speaker 4: let's hold on to it.

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Speaker 6: No, we got that's what we decided. We got something

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Speaker 6: great care that's hold on to it. And at the

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Speaker 6: same time, I'm the market crashed. So in the staffing business, right,

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Speaker 6: you have a contract that says, all right, you're gonna

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Speaker 6: pay me forty five dollars an hour for an LPN nurse,

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Speaker 6: and I'm going to pay them and we're going to

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Speaker 6: provide the service. But what ends up happening is that

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Speaker 6: you have the terms that maybe every thirty days, every sixty,

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Speaker 6: every ninety, so you're front running the payroll until you

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Speaker 6: get reimbursed on your invoice.

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Speaker 5: Right, you're not getting paid weekly from the nursing facility.

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Speaker 5: They don't pay out weekly.

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Speaker 6: So right before the market crashed, we were growing pretty

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Speaker 6: aggressively and we had line of credits to float that money.

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Speaker 5: So just like what's happening right.

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Speaker 6: Now in this crash, the banks pulled back on those

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Speaker 6: line of credits, so we couldn't even provide.

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Speaker 5: As much service as anyway.

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Speaker 6: So it's like, well, what are we going to do

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Speaker 6: because now we can only provide like thirty percent of

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Speaker 6: our services. And that's why we're even flirting with the

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Speaker 6: idea of selling, because it's like if we've sold this

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Speaker 6: for four hundred K, that helps us, you know, have

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Speaker 6: worked bff for money. But then we thought like, well,

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Speaker 6: the home healthy, it's get paid less than nurses, So

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Speaker 6: let's just start spooling up that side of the business,

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Speaker 6: making you know, smaller spread, but we can grow this

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Speaker 6: beyond and people are thinking about paying you know, almost

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Speaker 6: half a million dollars for the license.

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Speaker 5: There's got to be some money here and that's where

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Speaker 5: that pivot took us.

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Speaker 4: Is that true just for New York State? Was that

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Speaker 4: something that was happening throughout the country where licenses were

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Speaker 4: being ceased?

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Speaker 5: Oh no, no, no, that's that's New York State.

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Speaker 6: Like right now in Florida where I am and expanding

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Speaker 6: on my new venture, there isn't a monitory of the licenses.

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Speaker 5: I'm applying for a license right now. Some states, I

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Speaker 5: think Michigan doesn't even have a license to operate.

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Speaker 6: You could just start a home care agency without any oversight,

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Speaker 6: which is kind of nuts to me because New York

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Speaker 6: is heavily regulated. California, of course heavily regulated. So you know,

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Speaker 6: short answer is that it depends on your state.

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Speaker 3: Yeah, because I was actually so a friend mine in Ohio.

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Speaker 3: He has a health clinic and he was kind of

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Speaker 3: explaining it to me, and it was it was crazy

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Speaker 3: because he was saying, like with the healthcare industry, the

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Speaker 3: common mistake that people make is that they think that

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Speaker 3: they actually have to be in the field to actually be,

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Speaker 3: you know, an entrepreneur and like open a type of business.

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Speaker 3: But you don't have to be a doctor. You don't

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Speaker 3: have to be a licensed doctor to have these type

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Speaker 3: of business right, like that you have like you're not

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Speaker 3: a licensed doctor right now, I'm not a.

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Speaker 6: Licensed doctor, but in most states you have to have

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Speaker 6: a licensed person like either a nurse or a physician

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Speaker 6: on your founding.

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Speaker 5: Team if you're gonna if you're gonna.

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Speaker 6: Do a license film caurgency, but as a staffing firm,

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Speaker 6: you could turn around and start once tomorrow.

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Speaker 4: So your mom would your mom filled that role, right

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Speaker 4: she was the nurse.

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Speaker 5: Yeah, she was a nurse. So that's that's how it works.

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Speaker 6: So you know, if you're thinking about getting into this business,

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Speaker 6: like I get increased all the time on my channel

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Speaker 6: where it's like how do I start?

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Speaker 5: How do I start?

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Speaker 6: So I started showing them step by step this is

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Speaker 6: how you do it. So step one, if you're going

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Speaker 6: to go and become a home care agency, you've got

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Speaker 6: to just research your Department of Health website and find

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Speaker 6: out are the issuing licenses, what is the application process,

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Speaker 6: and what are the rules and regulations? Right because those

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Speaker 6: regulations are going to dictate what your policies are and

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Speaker 6: how your policies need to be drafted, and you're going

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Speaker 6: to need to develop your policies when you're applying.

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Speaker 5: It's actually pretty a pretty.

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Speaker 6: Grueling process because you're doing like man like four hundred

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Speaker 6: pages of policies, your forms that you're going to be

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Speaker 6: using to do your assessments. It's pretty intense. But you

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Speaker 6: could also hire a consultant to help you with that.

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Speaker 6: Like right now in Florida, since I'm in a much

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Speaker 6: better financial position than when we started the whole agency before,

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Speaker 6: I'm just paying a consultant to handle the entire application

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Speaker 6: process and working on building my team while while.

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Speaker 5: They're doing that piece, rather than physically typing.

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Speaker 6: But from the staffing firm perspective, you just need a

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Speaker 6: You can get like a boiler plate generic staffing firm contract.

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Speaker 6: Pull that up on Google, determine what area you're going

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Speaker 6: to focus on, if it's going to be healthcare or nursing,

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Speaker 6: and then disciples your rates are going to be. Make

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Speaker 6: sure you're cushioning in at least thirty percent spread because

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Speaker 6: your payroll taxes are going to cost you close to

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Speaker 6: like ten percent, and then your worker's comp is going

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Speaker 6: to be around six to seven percent, so then you're

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Speaker 6: only going to be left of like twenty so at

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Speaker 6: least charge your thirty percent markup if you're going to

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Speaker 6: do that. But the process, you know, once you get licensed,

425
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Speaker 6: is all about what relationships you build and executing on

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Speaker 6: your marketing strategy so that you're finding those patients. But

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Speaker 6: on the staffing firm side, the process is call the

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Speaker 6: nursing home, call the hospital, speak with either the administrator

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Speaker 6: or the director of nursing and say, I am a

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Speaker 6: staffing firm.

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Speaker 5: I'm looking to bride services. Do you need coverage? Best time? Summertime? Why?

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Speaker 6: Because people are going on vacation, They're going to be short, right,

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Speaker 6: so that's when people are going to be desperate. They'll say, hey,

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Speaker 6: you know what, sure, you know, send us over your

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00:21:11,840 --> 00:21:12,840
Speaker 6: send us over the contract.

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Speaker 5: We'll have a review.

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Speaker 6: The first contract that I got when I expanded in

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Speaker 6: Long Island took me about maybe two weeks of phone calls.

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Speaker 6: I just literally downloaded National County Nursing Homes and I

440
00:21:24,720 --> 00:21:26,120
Speaker 6: just picked up the phone.

441
00:21:26,600 --> 00:21:29,840
Speaker 7: Cold call, cold calling, cold calling.

442
00:21:30,400 --> 00:21:32,520
Speaker 4: You created the contrast yourself, or you sat down with

443
00:21:32,560 --> 00:21:33,920
Speaker 4: a lawyer. How did that process work?

444
00:21:34,640 --> 00:21:35,800
Speaker 5: Oh?

445
00:21:35,359 --> 00:21:39,399
Speaker 6: She took my mom took a copy of the contract

446
00:21:39,960 --> 00:21:43,600
Speaker 6: that her nursing home is using, and I just retyped it.

447
00:21:43,720 --> 00:21:45,320
Speaker 4: The mom's a hustler, shout out the mom.

448
00:21:45,920 --> 00:21:48,960
Speaker 5: Yeah she's she's she's got hustle to her. She definitely does.

449
00:21:50,040 --> 00:21:52,240
Speaker 3: All right, Well, in the next segment, we want to

450
00:21:52,240 --> 00:21:54,359
Speaker 3: talk more about the business and also about the acquisition

451
00:21:54,440 --> 00:21:57,320
Speaker 3: that you guys. I know you were saying off camera

452
00:21:57,400 --> 00:21:59,600
Speaker 3: that somebody had offered you some money and you looked

453
00:21:59,640 --> 00:22:01,560
Speaker 3: at that then, because we'd like to talk about stories

454
00:22:01,600 --> 00:22:03,080
Speaker 3: like that on EYOL, because these are things that the

455
00:22:03,119 --> 00:22:07,000
Speaker 3: general public does not know and isn't privy to. So yeah,

456
00:22:07,000 --> 00:22:09,000
Speaker 3: we're gonna talk some more in depth about the healthcare

457
00:22:09,040 --> 00:22:12,480
Speaker 3: fail in the next segment. All right, So in this

458
00:22:12,640 --> 00:22:14,520
Speaker 3: in this segment, we're gonna we're gonna talk some more

459
00:22:14,520 --> 00:22:18,240
Speaker 3: about some actionable items. This is what everybody loves EYO for.

460
00:22:18,520 --> 00:22:20,840
Speaker 3: So you have two different businesses with the staffing firm

461
00:22:20,880 --> 00:22:22,800
Speaker 3: and the nursing But first I want to talk about

462
00:22:22,800 --> 00:22:25,880
Speaker 3: staffing so for people, because you said that's that's probably

463
00:22:25,920 --> 00:22:29,399
Speaker 3: like the more practical thing that really anybody can can

464
00:22:29,440 --> 00:22:32,120
Speaker 3: do as a staffing firm. And like I said, staffing

465
00:22:32,160 --> 00:22:35,080
Speaker 3: firms are big on a variety of different levels, not

466
00:22:35,119 --> 00:22:38,040
Speaker 3: just the medical all over. Staffing firms extremely big and

467
00:22:38,040 --> 00:22:41,200
Speaker 3: pretty much is just bridging a gap where somebody needs

468
00:22:41,240 --> 00:22:45,200
Speaker 3: work and their employees that are skilled to work but

469
00:22:45,680 --> 00:22:49,200
Speaker 3: they don't. They got to come together. So the staffings

470
00:22:49,200 --> 00:22:52,400
Speaker 3: firm's job is to find the qualified employees and match

471
00:22:52,480 --> 00:22:55,640
Speaker 3: them with good employers. So what are some steps if

472
00:22:55,640 --> 00:22:57,840
Speaker 3: somebody wants to start their own staffing firm?

473
00:22:59,119 --> 00:23:01,280
Speaker 6: So I want to try to break it down as

474
00:23:01,320 --> 00:23:03,119
Speaker 6: simple as possible. If you're going to be starting a

475
00:23:03,240 --> 00:23:05,479
Speaker 6: staff infirm, the first thing that you're going to need

476
00:23:05,520 --> 00:23:08,600
Speaker 6: to do is get your hands on just a basic

477
00:23:08,960 --> 00:23:14,120
Speaker 6: staffing contract. Okay, get a contract, review that contract, and

478
00:23:14,359 --> 00:23:17,240
Speaker 6: part of that contract is going to have a fee schedule, right,

479
00:23:17,240 --> 00:23:20,199
Speaker 6: This is what you're charging for the positions. Right, So

480
00:23:20,240 --> 00:23:24,119
Speaker 6: if you're starting with nursing, start with a fee schedule

481
00:23:24,160 --> 00:23:27,120
Speaker 6: for urns, a fee schedule for LPNs.

482
00:23:26,760 --> 00:23:28,960
Speaker 5: Which are licensed practical nurses, and.

483
00:23:28,880 --> 00:23:31,439
Speaker 6: Then for nurse aids, because that those are the most

484
00:23:31,520 --> 00:23:34,600
Speaker 6: utilized workers in a nursing home or in a hospital.

485
00:23:34,720 --> 00:23:34,880
Speaker 5: Right.

486
00:23:35,040 --> 00:23:37,199
Speaker 6: So that's that's one thing that you want to have.

487
00:23:38,480 --> 00:23:40,679
Speaker 6: But you're going to do your market research next to

488
00:23:40,760 --> 00:23:44,320
Speaker 6: know what is a nurse commanding as far as salary?

489
00:23:44,680 --> 00:23:47,200
Speaker 6: What is an LPN commanding as far as salary and

490
00:23:47,280 --> 00:23:49,879
Speaker 6: the nurse aid, right, so that you know what you're.

491
00:23:49,960 --> 00:23:52,080
Speaker 4: Supposed to be paying out specific to each state that

492
00:23:52,080 --> 00:23:55,240
Speaker 4: you're in, specific to specific to the state that you're in.

493
00:23:55,600 --> 00:23:58,399
Speaker 5: Specific to your region, even in New York region. Right now,

494
00:23:58,520 --> 00:24:00,919
Speaker 5: New York City is going to charge higher rates than

495
00:24:00,960 --> 00:24:02,160
Speaker 5: Buffalo exactly.

496
00:24:01,880 --> 00:24:04,879
Speaker 6: Right, So you have to just research your local market

497
00:24:04,920 --> 00:24:07,239
Speaker 6: just to know what does it. You know how much

498
00:24:07,240 --> 00:24:08,800
Speaker 6: are you going to be paying, because that's going to

499
00:24:08,880 --> 00:24:11,680
Speaker 6: dictate how much are you going to charge because you.

500
00:24:11,640 --> 00:24:13,720
Speaker 5: Also need to cover that. You're going to need.

501
00:24:13,640 --> 00:24:16,640
Speaker 6: To cover payroll, you need to cover the workers count,

502
00:24:16,800 --> 00:24:18,840
Speaker 6: and then you're going to need your profit margin.

503
00:24:18,960 --> 00:24:20,720
Speaker 5: Right, So I advise.

504
00:24:20,400 --> 00:24:23,600
Speaker 6: That whatever the local rates are, charge a minimum of

505
00:24:23,680 --> 00:24:26,879
Speaker 6: thirty percent more or you know, as much as double,

506
00:24:27,119 --> 00:24:30,080
Speaker 6: because it depends on what's again the need of that position.

507
00:24:31,480 --> 00:24:32,400
Speaker 5: So once you have.

508
00:24:32,400 --> 00:24:35,520
Speaker 6: Your contract set, the next thing that you should do

509
00:24:35,600 --> 00:24:38,680
Speaker 6: is obviously incorporate yourself, right, either go to the LLC

510
00:24:38,880 --> 00:24:42,720
Speaker 6: route or the corporation route, just so that you have

511
00:24:42,960 --> 00:24:47,800
Speaker 6: an entity and some sort of barrier between you and liability, right,

512
00:24:47,840 --> 00:24:49,120
Speaker 6: that's the purpose and also.

513
00:24:49,000 --> 00:24:49,639
Speaker 5: The tax benefit.

514
00:24:49,800 --> 00:24:51,720
Speaker 6: So make sure you go out there and incorporate yourself.

515
00:24:51,800 --> 00:24:54,040
Speaker 6: You could do that on legal Zoom. I use a

516
00:24:54,080 --> 00:24:56,960
Speaker 6: service called Blumberg excels here. I'll send you guys a link.

517
00:24:57,280 --> 00:24:57,439
Speaker 5: You know.

518
00:24:57,480 --> 00:25:00,800
Speaker 6: I like working with them. They're quick and set up

519
00:25:00,800 --> 00:25:03,440
Speaker 6: your corporation within a day or two. They'll even apply

520
00:25:03,480 --> 00:25:05,280
Speaker 6: for your text ID number, all the things that you

521
00:25:05,320 --> 00:25:08,440
Speaker 6: need to be recognized as a business right, And that

522
00:25:08,800 --> 00:25:11,440
Speaker 6: cost in New York is going to be anywhere from

523
00:25:11,480 --> 00:25:14,199
Speaker 6: like three hundred if you're doing a corporation to like

524
00:25:15,119 --> 00:25:17,400
Speaker 6: almost two thousand if you're doing an LLC because of

525
00:25:17,720 --> 00:25:21,199
Speaker 6: the publication fee that's associated with that, because LLCs have

526
00:25:21,280 --> 00:25:25,159
Speaker 6: to publish that they're coming into existence. So once you

527
00:25:25,200 --> 00:25:28,159
Speaker 6: have your contract and you have your entity set up,

528
00:25:28,200 --> 00:25:30,240
Speaker 6: and you have open up a bank account to do

529
00:25:30,400 --> 00:25:34,239
Speaker 6: entity's name, the next thing that you should do is

530
00:25:34,880 --> 00:25:38,400
Speaker 6: probably hire a few people right, get your application.

531
00:25:38,520 --> 00:25:39,359
Speaker 5: You can pull up.

532
00:25:39,280 --> 00:25:41,960
Speaker 6: Any generic application online, but you're going to need to

533
00:25:41,960 --> 00:25:44,399
Speaker 6: get an applications so you can actually onboard and have

534
00:25:44,480 --> 00:25:48,719
Speaker 6: a pool of providers, nurses, Mercedes, LPNs, whatever you're going

535
00:25:48,760 --> 00:25:52,680
Speaker 6: to be hiring. And you know, once you do get

536
00:25:52,680 --> 00:25:54,080
Speaker 6: a hit, you're going to be able to staff you

537
00:25:54,080 --> 00:25:56,640
Speaker 6: don't want you don't want to get into.

538
00:25:56,440 --> 00:25:58,639
Speaker 5: Contract to provide staff, and you got.

539
00:25:58,520 --> 00:26:01,240
Speaker 4: To staff, right, So I.

540
00:26:01,160 --> 00:26:03,800
Speaker 6: Think if you're a healthcare professional, it might make the

541
00:26:03,840 --> 00:26:05,920
Speaker 6: most sense of staff for yourself being one of the

542
00:26:05,960 --> 00:26:08,280
Speaker 6: people that gets dispatched. So at least you know that

543
00:26:08,320 --> 00:26:10,679
Speaker 6: you could fill in certain gaps if you get that

544
00:26:10,720 --> 00:26:13,199
Speaker 6: immediate call, that you can work that shift yourself.

545
00:26:13,200 --> 00:26:15,119
Speaker 4: How many people? How many people are you putting on

546
00:26:15,119 --> 00:26:16,760
Speaker 4: the team to start? We're doing like two or three

547
00:26:16,840 --> 00:26:18,920
Speaker 4: including yourself. So you got a four person team.

548
00:26:20,160 --> 00:26:23,000
Speaker 5: And if you're starting a staffing.

549
00:26:22,720 --> 00:26:25,120
Speaker 4: Firm, yeah, I would at least.

550
00:26:24,920 --> 00:26:27,520
Speaker 6: Three in each position that you're that you're marketing, so

551
00:26:27,520 --> 00:26:29,800
Speaker 6: at least you have, you know, some depth to your

552
00:26:29,840 --> 00:26:30,480
Speaker 6: to your staff.

553
00:26:30,880 --> 00:26:33,800
Speaker 4: All right, So we had r N, LPN and then healthcare,

554
00:26:33,880 --> 00:26:37,000
Speaker 4: so that would be nine people. Yeah, gotcha.

555
00:26:37,119 --> 00:26:40,119
Speaker 3: So how do how do you Because like there's a

556
00:26:40,160 --> 00:26:44,320
Speaker 3: shortage of nurses right now in New York and there's

557
00:26:44,400 --> 00:26:47,280
Speaker 3: like they're like begging nurses to come from all over

558
00:26:47,320 --> 00:26:49,000
Speaker 3: the country. Right, So this is like a perfect if

559
00:26:49,000 --> 00:26:52,480
Speaker 3: somebody had a staffing agency for nurses right now, it'd

560
00:26:52,480 --> 00:26:53,600
Speaker 3: be perfect, But like how.

561
00:26:53,440 --> 00:26:58,440
Speaker 7: Do you find the candidates? Like I'm sure the tract.

562
00:26:58,200 --> 00:27:01,639
Speaker 6: Out Okay, So you got to just public. You're going

563
00:27:01,720 --> 00:27:06,800
Speaker 6: to post on whatever you can, indeed LinkedIn Facebook jobs

564
00:27:06,840 --> 00:27:10,719
Speaker 6: wherever the threads list, just post that you're hiring. And

565
00:27:10,760 --> 00:27:12,959
Speaker 6: the thing is, people are nurses. I know.

566
00:27:13,600 --> 00:27:15,280
Speaker 5: Most nurses I know are working two jobs.

567
00:27:15,640 --> 00:27:19,040
Speaker 6: Right. They're usually the top earner in their household, especially

568
00:27:19,080 --> 00:27:19,919
Speaker 6: in our community.

569
00:27:20,119 --> 00:27:22,080
Speaker 5: They're working two jobs, sometimes three jobs.

570
00:27:22,080 --> 00:27:24,720
Speaker 6: So they're always looking for jobs, right, because one that

571
00:27:24,840 --> 00:27:27,560
Speaker 6: their jobs exist and they're always looking. But if you

572
00:27:27,640 --> 00:27:31,320
Speaker 6: dangle a carrot, like higher rates than what they're normally

573
00:27:31,359 --> 00:27:34,920
Speaker 6: getting paid, then that also attracts them. So let's just

574
00:27:34,960 --> 00:27:38,880
Speaker 6: say the averages thirty but you're paying thirty three. Then

575
00:27:39,800 --> 00:27:43,280
Speaker 6: nurses who are working for some other agency or they'll

576
00:27:43,359 --> 00:27:45,240
Speaker 6: give up their part time job and work with you

577
00:27:45,359 --> 00:27:47,040
Speaker 6: for a little more money. So you make it a

578
00:27:47,080 --> 00:27:50,159
Speaker 6: smaller spread, but you're attracting the talent that way.

579
00:27:50,400 --> 00:27:54,080
Speaker 4: What is what makes a candidate qualify? What are the

580
00:27:54,080 --> 00:27:57,320
Speaker 4: things they need? I'm assuming experience or maybe not in

581
00:27:57,359 --> 00:27:58,639
Speaker 4: this type of crisis.

582
00:27:58,320 --> 00:27:59,800
Speaker 5: Yeah, sometimes not even experience.

583
00:28:00,560 --> 00:28:04,320
Speaker 6: License they need to have most most people in healthcare

584
00:28:04,440 --> 00:28:08,080
Speaker 6: need to be licensed, right, so our into license. LPNs

585
00:28:08,080 --> 00:28:10,920
Speaker 6: are licensed, nurse aids have a certificate home health aids

586
00:28:10,920 --> 00:28:13,240
Speaker 6: have a certificate, so they obviously need to be meet

587
00:28:13,320 --> 00:28:14,800
Speaker 6: whatever the guidelines are for the state.

588
00:28:15,200 --> 00:28:16,400
Speaker 5: They also need to.

589
00:28:16,400 --> 00:28:19,720
Speaker 6: Have an up to date physical which shows that they're

590
00:28:19,720 --> 00:28:25,440
Speaker 6: immune to beesels, bumps, rubella, rubiola, checking poks for oursella,

591
00:28:25,520 --> 00:28:28,320
Speaker 6: that they also are TV negative so they can't have

592
00:28:28,440 --> 00:28:33,080
Speaker 6: active tuberculosis, and that they're what's called, you know, safe

593
00:28:33,119 --> 00:28:36,520
Speaker 6: and fit to work okay, So that physical needs it's

594
00:28:36,680 --> 00:28:40,240
Speaker 6: done annually. All healthcare workers working in direct contact with

595
00:28:40,320 --> 00:28:42,360
Speaker 6: patients have to have an annual physical, so they physical

596
00:28:42,440 --> 00:28:42,680
Speaker 6: needs to.

597
00:28:42,640 --> 00:28:44,880
Speaker 5: Be on to date. But every nurse and everybody in

598
00:28:44,920 --> 00:28:46,480
Speaker 5: the field knows that.

599
00:28:46,720 --> 00:28:49,080
Speaker 6: So either they're getting the physical is done as the

600
00:28:49,160 --> 00:28:51,560
Speaker 6: job and they could get their physicals from their job,

601
00:28:51,880 --> 00:28:53,520
Speaker 6: or they just get their physical from their doctor.

602
00:28:54,040 --> 00:28:55,600
Speaker 5: But once they have that, they.

603
00:28:55,440 --> 00:28:58,400
Speaker 6: Have the application, they filled out their W two forms

604
00:28:59,240 --> 00:29:01,480
Speaker 6: or the ten ninety nine informs if they're or W

605
00:29:01,560 --> 00:29:04,400
Speaker 6: nine's if they're going to be ten ninety nine, and

606
00:29:04,440 --> 00:29:07,280
Speaker 6: they have their medical clearance and you have a copy

607
00:29:07,280 --> 00:29:10,640
Speaker 6: of their license, that's what you would consider a profile

608
00:29:10,920 --> 00:29:14,520
Speaker 6: for that for that nurse. Of course, their resume helps,

609
00:29:14,760 --> 00:29:16,920
Speaker 6: but most of the time they're not even asking for

610
00:29:16,960 --> 00:29:18,200
Speaker 6: the resumes.

611
00:29:18,080 --> 00:29:19,160
Speaker 5: Because they're so behind.

612
00:29:19,160 --> 00:29:20,600
Speaker 6: It's just like, does this person have at least one

613
00:29:20,640 --> 00:29:23,320
Speaker 6: year's experience typically is what they're looking.

614
00:29:23,120 --> 00:29:25,560
Speaker 5: For, so you would also look for that.

615
00:29:25,600 --> 00:29:29,120
Speaker 6: But sometimes you might have a new nurse who has

616
00:29:29,240 --> 00:29:33,400
Speaker 6: maybe eight years experience as a nurse aid that understands

617
00:29:33,440 --> 00:29:36,640
Speaker 6: how things move in a nursing facility that they'll be

618
00:29:36,680 --> 00:29:39,920
Speaker 6: willing to take as well. Sometimes they orient them at

619
00:29:39,920 --> 00:29:42,520
Speaker 6: the facility and really it's really a case by case,

620
00:29:42,560 --> 00:29:50,400
Speaker 6: but at minimum physical licensing certificate and identification and you

621
00:29:50,440 --> 00:29:51,840
Speaker 6: know eligibility.

622
00:29:51,280 --> 00:29:54,440
Speaker 4: Work in the United States, are there terms after you

623
00:29:54,880 --> 00:29:57,200
Speaker 4: find a candidate that they have to stay with the

624
00:29:57,240 --> 00:29:59,920
Speaker 4: company for six to twelve months or does that exist

625
00:30:00,120 --> 00:30:01,920
Speaker 4: in this in the staffing agency?

626
00:30:02,120 --> 00:30:04,240
Speaker 5: It can if you if.

627
00:30:04,080 --> 00:30:07,040
Speaker 6: You have that agreement with the worker, and usually within

628
00:30:07,080 --> 00:30:10,960
Speaker 6: the contract you have like a provision that they can

629
00:30:11,040 --> 00:30:14,280
Speaker 6: hire that person after one year if they pay you

630
00:30:14,600 --> 00:30:16,360
Speaker 6: x percentage of that person's salary.

631
00:30:16,840 --> 00:30:18,400
Speaker 5: If not, they can't hire that person.

632
00:30:18,800 --> 00:30:21,040
Speaker 6: So it's also a way for them to kind of

633
00:30:21,280 --> 00:30:23,760
Speaker 6: vent and recruit talent to a certain extent.

634
00:30:23,880 --> 00:30:27,640
Speaker 4: Yeah, so that in that sense, right, Let's say that

635
00:30:27,680 --> 00:30:29,440
Speaker 4: they made one hundred thousand, if they want to hire

636
00:30:29,480 --> 00:30:31,320
Speaker 4: them after the year, you take a percentage of that,

637
00:30:31,400 --> 00:30:34,720
Speaker 4: so you like, maybe I'll get five percent fifteen, So

638
00:30:34,720 --> 00:30:39,160
Speaker 4: that's fifteen fifteen thousand if we make it one hundred yep, okay, gotcha? Okay,

639
00:30:39,520 --> 00:30:42,440
Speaker 4: So the staffing how lucrative is staffing?

640
00:30:43,160 --> 00:30:43,520
Speaker 5: Okay?

641
00:30:43,600 --> 00:30:48,000
Speaker 6: So before we pivoted to home care, we're doing about

642
00:30:48,040 --> 00:30:51,520
Speaker 6: a million a year in revenue, and like the net

643
00:30:51,600 --> 00:30:56,320
Speaker 6: margin is about twenty percent, so you're seeing two hundred grandfit,

644
00:30:56,400 --> 00:31:00,480
Speaker 6: so it's enough to earn on it wasn't it wasn't

645
00:31:00,640 --> 00:31:02,520
Speaker 6: it what it was for for like how it is.

646
00:31:02,480 --> 00:31:03,120
Speaker 5: For home care.

647
00:31:04,120 --> 00:31:07,680
Speaker 6: But we never got to the point like as far

648
00:31:07,720 --> 00:31:10,480
Speaker 6: as size that we did with the homecare agency.

649
00:31:10,640 --> 00:31:14,440
Speaker 3: So pivoting to pivoting towards home care, so home care

650
00:31:14,480 --> 00:31:16,680
Speaker 3: is more is way more lucrative in your opinion?

651
00:31:17,560 --> 00:31:20,800
Speaker 5: Uh, No, they're there. I think I think they're equally lucrative.

652
00:31:21,440 --> 00:31:25,880
Speaker 6: It's just that the the funnel is different and there's

653
00:31:26,120 --> 00:31:30,800
Speaker 6: a larger barrier to entry. So you know, there's with that,

654
00:31:30,960 --> 00:31:33,880
Speaker 6: of course, there's money, right, there's fewer of you, there's

655
00:31:33,880 --> 00:31:35,800
Speaker 6: fewer providers, and there's.

656
00:31:35,560 --> 00:31:36,320
Speaker 5: Still a need.

657
00:31:36,520 --> 00:31:40,240
Speaker 6: So we were able to scale that aggressively because you know,

658
00:31:40,280 --> 00:31:42,680
Speaker 6: a home health aid only needs to train for eighty

659
00:31:42,720 --> 00:31:46,480
Speaker 6: hours right to get a certificate, and that means.

660
00:31:46,280 --> 00:31:48,680
Speaker 5: That there's there's a lot of them out there.

661
00:31:48,880 --> 00:31:51,920
Speaker 6: So we're able to scale up the number of people

662
00:31:51,960 --> 00:31:54,520
Speaker 6: that we have faster than a bunch of a bunch

663
00:31:54,520 --> 00:31:57,760
Speaker 6: of nurses. To get three hundred, four hundred nurses, it's

664
00:31:57,840 --> 00:32:01,040
Speaker 6: a lot harder to do than to get three hundred

665
00:32:01,120 --> 00:32:02,760
Speaker 6: or four hundred home healths.

666
00:32:03,000 --> 00:32:04,960
Speaker 3: So to be a home health aid, to be a

667
00:32:04,960 --> 00:32:08,720
Speaker 3: home health aid, what do you have to do to become?

668
00:32:08,840 --> 00:32:12,520
Speaker 6: It's an eighty hour course, So it's you know, body mechanics,

669
00:32:12,640 --> 00:32:16,040
Speaker 6: how do you care for a patient? You know, making

670
00:32:16,040 --> 00:32:18,080
Speaker 6: sure that the water isn't too hot so you're burning

671
00:32:18,080 --> 00:32:18,360
Speaker 6: a patient.

672
00:32:18,400 --> 00:32:20,640
Speaker 5: And given the bath safe.

673
00:32:20,520 --> 00:32:22,240
Speaker 4: Technique, any anybody can do.

674
00:32:22,160 --> 00:32:24,400
Speaker 5: That as long as they legal to work in the

675
00:32:24,480 --> 00:32:25,600
Speaker 5: United States. Yep.

676
00:32:26,080 --> 00:32:28,400
Speaker 3: So that's that's actually when you're talking about the business side.

677
00:32:28,440 --> 00:32:31,600
Speaker 3: But that's actually a job opportunity, I guess as well

678
00:32:31,640 --> 00:32:34,960
Speaker 3: for people that might of course need work, right yep.

679
00:32:35,480 --> 00:32:39,360
Speaker 6: And in New York they're they're making anywhere between fifteen

680
00:32:39,640 --> 00:32:40,920
Speaker 6: and twenty dollars an hour.

681
00:32:42,080 --> 00:32:47,080
Speaker 4: Yeah, and the qualifications are like training program that's it.

682
00:32:47,840 --> 00:32:52,160
Speaker 6: Two training program and then also physically background check background

683
00:32:52,240 --> 00:32:52,880
Speaker 6: check yep.

684
00:32:54,000 --> 00:32:56,320
Speaker 3: So all right, so you guys scaled that up pretty

685
00:32:56,320 --> 00:32:58,840
Speaker 3: pretty aggressively, and then you were saying that you got

686
00:32:58,880 --> 00:33:00,600
Speaker 3: to offer it to all the company.

687
00:33:01,560 --> 00:33:06,360
Speaker 6: Yeah, so all right, so right now we're doing like

688
00:33:06,440 --> 00:33:10,400
Speaker 6: for twenty nineteen, you did about just under twelve million

689
00:33:10,400 --> 00:33:15,360
Speaker 6: dollars in annual rev And I got a mailer right

690
00:33:15,640 --> 00:33:17,320
Speaker 6: from somebody who was like, are you looking to sell?

691
00:33:17,800 --> 00:33:19,720
Speaker 6: So I was like, well, let me, let me, let

692
00:33:19,720 --> 00:33:21,840
Speaker 6: me entertain this and see what numbers are throwing around.

693
00:33:21,920 --> 00:33:22,160
Speaker 5: Right.

694
00:33:22,680 --> 00:33:28,000
Speaker 6: So it was actually an agent who a burgers and

695
00:33:28,000 --> 00:33:31,760
Speaker 6: acquisitions agent who broke his businesses. So he sat with

696
00:33:31,800 --> 00:33:34,280
Speaker 6: me and he was like, we could get you fifty

697
00:33:34,320 --> 00:33:35,760
Speaker 6: percent of your annual revenue.

698
00:33:36,360 --> 00:33:40,960
Speaker 5: And I was like, all right, so talking about you know, between.

699
00:33:40,680 --> 00:33:42,680
Speaker 6: Five and six million dollars sale based on where we're

700
00:33:42,680 --> 00:33:44,280
Speaker 6: at that year, I was like, all right, cool.

701
00:33:44,800 --> 00:33:48,480
Speaker 5: So they brought in a I'm not sure.

702
00:33:48,360 --> 00:33:50,320
Speaker 6: If I got to see the terms and conditions of

703
00:33:50,360 --> 00:33:51,840
Speaker 6: the contract, so I'm not going to say their name,

704
00:33:51,840 --> 00:33:55,800
Speaker 6: but they brought in a publicly traded home care agency

705
00:33:56,000 --> 00:34:00,640
Speaker 6: that was acquiring agencies like mine, right, and they reviewed

706
00:34:00,720 --> 00:34:02,600
Speaker 6: our case mix and how much mony were we making

707
00:34:03,080 --> 00:34:05,200
Speaker 6: and they made an offer that was consistent with that.

708
00:34:06,320 --> 00:34:11,440
Speaker 5: So it's like, okay, I was my trader background.

709
00:34:11,520 --> 00:34:14,080
Speaker 6: I started looking up the finance of that company and

710
00:34:14,120 --> 00:34:16,160
Speaker 6: looking at how they were organized, and I saw that

711
00:34:16,200 --> 00:34:22,360
Speaker 6: they were trading at at sixty times earnings, right, they

712
00:34:22,400 --> 00:34:26,040
Speaker 6: had they had a sixty pe And I then looked

713
00:34:26,040 --> 00:34:28,600
Speaker 6: at how many cases they have, and they have like

714
00:34:28,680 --> 00:34:31,520
Speaker 6: thirty thousand lives in the management in the country, and

715
00:34:31,560 --> 00:34:35,840
Speaker 6: I was like, all right, well, we have three hundred patients,

716
00:34:36,480 --> 00:34:39,239
Speaker 6: so we would just need to get you know, one

717
00:34:39,280 --> 00:34:42,120
Speaker 6: hundred times larger, right, And what would that take and

718
00:34:42,120 --> 00:34:44,239
Speaker 6: how could we do that? And I was like, well,

719
00:34:44,640 --> 00:34:48,000
Speaker 6: they're trying to buy us at like five times earnings,

720
00:34:48,280 --> 00:34:51,440
Speaker 6: but they're trading at sixty. This is a this is

721
00:34:51,480 --> 00:34:54,439
Speaker 6: a dope brainer. They brought in another company as well,

722
00:34:54,520 --> 00:34:58,200
Speaker 6: not not not the public trade company, another another suitor,

723
00:34:58,680 --> 00:34:59,399
Speaker 6: and they're like yeah.

724
00:34:59,600 --> 00:35:01,279
Speaker 5: I was like, what is your strategy here, what's what's

725
00:35:01,280 --> 00:35:02,120
Speaker 5: the what's the game plan?

726
00:35:02,440 --> 00:35:05,960
Speaker 6: The guy was like, we've already taken another We've already

727
00:35:05,960 --> 00:35:07,320
Speaker 6: taken another company public.

728
00:35:07,840 --> 00:35:11,600
Speaker 5: All we do is aggregate companies and go public.

729
00:35:11,800 --> 00:35:14,239
Speaker 6: That's that's our model, right, It's like, we've done it

730
00:35:14,280 --> 00:35:18,200
Speaker 6: in fashion and now we're doing it in healthcare. So

731
00:35:18,520 --> 00:35:20,840
Speaker 6: they were trying to offer me four times earnings, and

732
00:35:20,520 --> 00:35:24,600
Speaker 6: I know that the publicly traded company is trading at sixty.

733
00:35:25,160 --> 00:35:29,359
Speaker 6: So it's just a matter of getting financing and going

734
00:35:29,360 --> 00:35:32,480
Speaker 6: out there and gobbling up smaller and mid sized agencies

735
00:35:33,080 --> 00:35:36,600
Speaker 6: so that you get the numbers to go public and

736
00:35:36,640 --> 00:35:39,799
Speaker 6: then you're gonna you're gonna make twelve x return on

737
00:35:39,960 --> 00:35:42,239
Speaker 6: what you just bought, because all you're doing is buying

738
00:35:42,280 --> 00:35:46,760
Speaker 6: functional agencies, putting them under one umbrella, stripping back duplicated jobs,

739
00:35:46,880 --> 00:35:49,480
Speaker 6: like you don't need a bunch of CFOs, you have

740
00:35:49,520 --> 00:35:51,080
Speaker 6: one CFO in your company.

741
00:35:51,760 --> 00:35:54,680
Speaker 5: Right, So they just aggregate and go public.

742
00:35:54,719 --> 00:36:00,000
Speaker 6: And I was like, you know what, maybe we shouldn't sell, right,

743
00:36:00,440 --> 00:36:02,319
Speaker 6: Maybe this is not the direction we'll go in. Maybe

744
00:36:02,360 --> 00:36:05,880
Speaker 6: the direction will go in is emulate that model and

745
00:36:06,120 --> 00:36:10,440
Speaker 6: start thinking about, you know, expanding the business into different

746
00:36:10,440 --> 00:36:15,000
Speaker 6: markets and expanding the business in a way that you know,

747
00:36:15,120 --> 00:36:16,799
Speaker 6: we're on a trajectory to go in public and that's

748
00:36:16,840 --> 00:36:17,520
Speaker 6: what I'm doing.

749
00:36:17,360 --> 00:36:18,160
Speaker 5: Now with aid book.

750
00:36:18,960 --> 00:36:22,040
Speaker 4: So you turned down six million and to scale your

751
00:36:22,080 --> 00:36:22,680
Speaker 4: own business.

752
00:36:23,760 --> 00:36:27,799
Speaker 3: Yeah, So so so so all right, so AID book,

753
00:36:28,040 --> 00:36:29,360
Speaker 3: what is what does that include?

754
00:36:29,400 --> 00:36:32,920
Speaker 4: As far as you're new, so you said that.

755
00:36:32,800 --> 00:36:35,840
Speaker 6: You know, our mission at eight book is really to

756
00:36:36,840 --> 00:36:43,799
Speaker 6: just streamline the discharge planning process because hospitals. Hospitals are

757
00:36:43,880 --> 00:36:48,439
Speaker 6: under pressure to discharge patients quickly and make sure those

758
00:36:48,480 --> 00:36:52,040
Speaker 6: patients are re admitted. But what happens when somebody has pneumonia,

759
00:36:52,480 --> 00:36:55,880
Speaker 6: goes home, doesn't pick up their medication, they don't know

760
00:36:55,880 --> 00:36:58,640
Speaker 6: how to take their medication, they're not following a good diet,

761
00:36:58,880 --> 00:37:02,760
Speaker 6: they regress, they labs, stand up back in nursing facility.

762
00:37:02,880 --> 00:37:07,720
Speaker 6: When that happens, the hospital gets penalized. So our mission

763
00:37:08,239 --> 00:37:11,839
Speaker 6: is to streamline that process so that hospitals are discharging

764
00:37:12,239 --> 00:37:17,080
Speaker 6: using our software solutions right discharging to home care so

765
00:37:17,120 --> 00:37:20,880
Speaker 6: that immediately we're picking up that patient, servicing them, making

766
00:37:20,920 --> 00:37:23,000
Speaker 6: sure that someone is there, pick up the medication, take

767
00:37:23,000 --> 00:37:24,799
Speaker 6: care of them, making sure they're not falling at home,

768
00:37:25,080 --> 00:37:28,080
Speaker 6: making sure they're not regressing so they don't trigger back

769
00:37:28,120 --> 00:37:31,200
Speaker 6: into the hospital and trigger that penalty. By doing that,

770
00:37:31,280 --> 00:37:34,040
Speaker 6: refunneling ourselves with a lot.

771
00:37:33,880 --> 00:37:36,279
Speaker 4: Of new referras, you said the hospital, So solving that

772
00:37:36,320 --> 00:37:38,879
Speaker 4: hospital's problem, the hospital gets penalized as like a fee

773
00:37:38,960 --> 00:37:40,399
Speaker 4: or a fine that the hospital gets.

774
00:37:40,960 --> 00:37:43,240
Speaker 5: Yeah, well it's not a fee or fine.

775
00:37:43,840 --> 00:37:48,360
Speaker 6: They will subtract up to three percent of their top

776
00:37:48,400 --> 00:37:52,239
Speaker 6: line revenue for penalties on the following year. So let's

777
00:37:52,280 --> 00:37:54,399
Speaker 6: just say the hospital is making a hundred million, right,

778
00:37:54,760 --> 00:37:57,600
Speaker 6: the hospital margin eight percent, right, so they only make

779
00:37:57,600 --> 00:37:58,960
Speaker 6: an eight million dollars profit.

780
00:38:00,160 --> 00:38:03,399
Speaker 5: Medicare will penalize them three percent on.

781
00:38:03,520 --> 00:38:07,480
Speaker 6: Revenue and reimbursement, right, But their operation costs are still

782
00:38:07,480 --> 00:38:12,239
Speaker 6: going to cost them that ninety two million. So from

783
00:38:12,239 --> 00:38:16,040
Speaker 6: going from one hundred million to ninety seven and having

784
00:38:16,320 --> 00:38:19,759
Speaker 6: an underlying ninety two million dollars you know, cost to

785
00:38:19,800 --> 00:38:24,120
Speaker 6: provide services, they're only making five million. That's that's almost

786
00:38:24,200 --> 00:38:28,759
Speaker 6: forty percent loss in their bottom line if they get penalized.

787
00:38:29,480 --> 00:38:31,880
Speaker 4: How many patients would it would it take for like

788
00:38:31,920 --> 00:38:34,160
Speaker 4: a hospital to get penalized for something like that to

789
00:38:34,239 --> 00:38:34,640
Speaker 4: kick in.

790
00:38:35,800 --> 00:38:39,040
Speaker 6: Actually, it's it's like ratios, and so it depends on

791
00:38:39,040 --> 00:38:42,719
Speaker 6: how many bits they have, how many what disease processes,

792
00:38:42,719 --> 00:38:48,920
Speaker 6: because they're targeting six disease processes, pneumonia, heart failure, cabbage

793
00:38:48,920 --> 00:38:53,640
Speaker 6: which is bypass surgery, complete joint replacement surgeries. So those

794
00:38:53,680 --> 00:38:56,919
Speaker 6: are the ones that are like the high risk because

795
00:38:56,920 --> 00:38:59,359
Speaker 6: they're expensive to take care of, and it's you know

796
00:38:59,760 --> 00:39:03,360
Speaker 6: you the mentality of the government is we're paying you.

797
00:39:03,400 --> 00:39:06,360
Speaker 5: To fix them, fix them, you.

798
00:39:06,400 --> 00:39:08,319
Speaker 6: Know what I'm saying, like, fix them, make sure that

799
00:39:08,320 --> 00:39:10,600
Speaker 6: they're healthy. But at the same time, we're only paying

800
00:39:10,600 --> 00:39:13,160
Speaker 6: you for four days for this hospital state because that's

801
00:39:13,200 --> 00:39:16,600
Speaker 6: the national average. So what is the hospital doing They

802
00:39:16,640 --> 00:39:18,360
Speaker 6: need to get them out or is they losing body

803
00:39:18,360 --> 00:39:20,200
Speaker 6: and they need to ensure that they don't come back.

804
00:39:20,560 --> 00:39:21,600
Speaker 5: So our company is.

805
00:39:21,560 --> 00:39:25,600
Speaker 6: Focusing on that transitional care and converting into long.

806
00:39:25,560 --> 00:39:28,319
Speaker 4: Term care for Yeah, you're helping making sure that they

807
00:39:28,320 --> 00:39:28,879
Speaker 4: don't come back.

808
00:39:29,400 --> 00:39:31,080
Speaker 5: We help them to make sure they don't come back

809
00:39:31,840 --> 00:39:33,080
Speaker 5: and saving their revenue.

810
00:39:33,320 --> 00:39:33,680
Speaker 4: Gotcha?

811
00:39:34,520 --> 00:39:38,080
Speaker 3: And so what's the business modecle? You said, like, eventually

812
00:39:38,160 --> 00:39:39,400
Speaker 3: you want to take this public?

813
00:39:39,520 --> 00:39:43,600
Speaker 4: Right, So how is this? Earners? What's up? You ever

814
00:39:43,680 --> 00:39:46,839
Speaker 4: walk into a small business and everything just works, like

815
00:39:46,880 --> 00:39:50,360
Speaker 4: the checkout is fast, their seats are digital, tipping is

816
00:39:50,360 --> 00:39:52,960
Speaker 4: a breeze, and you're out the door before the line

817
00:39:52,960 --> 00:39:57,640
Speaker 4: even builds. Odds are they're using Square? We love supporting

818
00:39:57,640 --> 00:39:59,920
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819
00:40:00,480 --> 00:40:03,000
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820
00:40:03,040 --> 00:40:05,920
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821
00:40:06,160 --> 00:40:09,960
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822
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823
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825
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826
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828
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829
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830
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831
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Speaker 3: It's different from Avalanche and like do what do you see?

861
00:42:35,160 --> 00:42:37,880
Speaker 3: How did you replicate what you saw the larger company

862
00:42:37,920 --> 00:42:40,720
Speaker 3: do to you? And how are you going to implement

863
00:42:40,760 --> 00:42:43,360
Speaker 3: that in like really scaling aid Book? Is it to

864
00:42:43,400 --> 00:42:46,360
Speaker 3: acquire other small sized companies and bring them under the

865
00:42:46,440 --> 00:42:49,279
Speaker 3: umbrella of aid Brook or yeah, so.

866
00:42:49,400 --> 00:42:52,000
Speaker 5: Okay, So for me, what I cause?

867
00:42:52,040 --> 00:42:55,719
Speaker 6: I've been trying to push my partners in the home

868
00:42:55,760 --> 00:43:00,120
Speaker 6: care company and Avalanche to think about things on a

869
00:43:00,200 --> 00:43:03,080
Speaker 6: larger level. Always That's always been the case, right. I

870
00:43:03,120 --> 00:43:07,000
Speaker 6: always wanted to push the business further. And what I

871
00:43:07,040 --> 00:43:10,680
Speaker 6: realized is that they were going into business for the

872
00:43:10,719 --> 00:43:14,480
Speaker 6: freedom that you know, owning your own business allows, right, you.

873
00:43:14,440 --> 00:43:16,719
Speaker 5: Could take vacation when you want, do what you want.

874
00:43:17,440 --> 00:43:20,879
Speaker 6: And they were comfortable with what we're making there, right,

875
00:43:20,920 --> 00:43:23,759
Speaker 6: So they weren't looking to push They do want growth,

876
00:43:23,760 --> 00:43:25,600
Speaker 6: they do want to make more money, but they're not

877
00:43:25,760 --> 00:43:28,480
Speaker 6: willing to adjust their habits and mindset to.

878
00:43:29,960 --> 00:43:33,279
Speaker 5: Run multiple locations to expand into different states. They're not

879
00:43:34,200 --> 00:43:34,840
Speaker 5: They're not there.

880
00:43:35,080 --> 00:43:36,879
Speaker 6: So the first thing that I'm doing with aid Book

881
00:43:36,960 --> 00:43:42,200
Speaker 6: is assembling a team that has industry knowledge and working

882
00:43:42,239 --> 00:43:46,440
Speaker 6: in public companies and highlight.

883
00:43:48,719 --> 00:43:50,320
Speaker 4: I know where I'm at.

884
00:43:54,160 --> 00:43:55,440
Speaker 5: Gotcha, Sorry about that, man.

885
00:43:56,080 --> 00:44:00,440
Speaker 6: So what I'm doing at aid Book is folks on

886
00:44:00,640 --> 00:44:05,120
Speaker 6: talent that has worked in publicly traded companies and just

887
00:44:05,200 --> 00:44:08,239
Speaker 6: building our infrastructure with that mindset. So not only are

888
00:44:08,239 --> 00:44:10,800
Speaker 6: we going to be used in technology as and solving

889
00:44:10,800 --> 00:44:13,040
Speaker 6: that problem for the hospital to be a driver of

890
00:44:13,120 --> 00:44:16,040
Speaker 6: growth in our business, but we will entertain you know,

891
00:44:16,120 --> 00:44:19,080
Speaker 6: acquisitions as well, because as we get close.

892
00:44:19,120 --> 00:44:22,680
Speaker 5: It makes more sense to so let me let me

893
00:44:22,680 --> 00:44:23,239
Speaker 5: put it this way.

894
00:44:24,719 --> 00:44:27,600
Speaker 6: I believe that our software and aligning ourselves with the

895
00:44:27,640 --> 00:44:30,480
Speaker 6: hospitals will allow us to grow by you know.

896
00:44:30,400 --> 00:44:32,279
Speaker 5: One hundred patients per month. Right.

897
00:44:33,560 --> 00:44:36,400
Speaker 6: If I'm growing by by one hundred patients per month

898
00:44:36,680 --> 00:44:39,560
Speaker 6: in one city, then I need to set up in

899
00:44:39,600 --> 00:44:42,279
Speaker 6: another city and grow an agency by one hundred patients

900
00:44:42,280 --> 00:44:44,840
Speaker 6: a month by employing the same software, the same marketing

901
00:44:44,840 --> 00:44:45,480
Speaker 6: team to do that.

902
00:44:45,719 --> 00:44:45,919
Speaker 5: Right.

903
00:44:46,320 --> 00:44:49,279
Speaker 6: So, if I'm going into a new state, rather than

904
00:44:49,320 --> 00:44:53,759
Speaker 6: go through this lengthy you know, licensing process, which for

905
00:44:53,880 --> 00:44:56,719
Speaker 6: Florida is going to take me four months to have

906
00:44:56,920 --> 00:44:58,760
Speaker 6: the license and then another six.

907
00:44:58,600 --> 00:45:01,440
Speaker 5: Months to get Medicare approval, what I could do when

908
00:45:01,440 --> 00:45:01,960
Speaker 5: I'm going.

909
00:45:01,800 --> 00:45:05,800
Speaker 6: Into a new state and better capitalized I could just

910
00:45:05,840 --> 00:45:10,120
Speaker 6: start buying smaller mid sized companies at five times earnings

911
00:45:10,360 --> 00:45:13,280
Speaker 6: and just point our marketing engine to them and scale

912
00:45:13,320 --> 00:45:17,239
Speaker 6: them up to two thousand, three thousand patients per per

913
00:45:17,239 --> 00:45:18,200
Speaker 6: an agency, per state.

914
00:45:18,920 --> 00:45:21,680
Speaker 5: Once I get to like twelve fifteen.

915
00:45:21,400 --> 00:45:24,160
Speaker 6: Thousand lives in the management, I have something that I

916
00:45:24,200 --> 00:45:26,920
Speaker 6: can take to the public market, or once again step

917
00:45:26,960 --> 00:45:31,000
Speaker 6: to a larger, you know, conglomerate and say, look, we're

918
00:45:31,040 --> 00:45:34,560
Speaker 6: growing at one thousand patients per month. We don't see

919
00:45:34,560 --> 00:45:39,960
Speaker 6: an end in our funnel. You're growing by acquiring companies

920
00:45:40,480 --> 00:45:43,960
Speaker 6: right at five times earnings. If you just buy our

921
00:45:44,000 --> 00:45:49,680
Speaker 6: system that's already functional and fully aligned with the hospitals,

922
00:45:50,920 --> 00:45:55,919
Speaker 6: then you're going to grow at this rate in perpetuity, right,

923
00:45:56,360 --> 00:45:59,759
Speaker 6: So why wouldn't you want to buy this? But at

924
00:45:59,760 --> 00:46:01,640
Speaker 6: the same time, I'll still be on the track to

925
00:46:01,640 --> 00:46:04,200
Speaker 6: take the company public. So for me, the most important

926
00:46:04,239 --> 00:46:08,959
Speaker 6: thing is an initial team that has that experience. So

927
00:46:09,239 --> 00:46:13,080
Speaker 6: I've already poached some talent from TopWare, and now I

928
00:46:13,120 --> 00:46:17,920
Speaker 6: poached one person from from Emory the hospital system in Atlanta,

929
00:46:18,400 --> 00:46:20,920
Speaker 6: And these are people who are interested in being involved

930
00:46:20,960 --> 00:46:24,200
Speaker 6: in a startup with this With this trajectory in mind,

931
00:46:24,200 --> 00:46:27,680
Speaker 6: that within five to seven years, we're going to exit

932
00:46:27,719 --> 00:46:30,120
Speaker 6: and we're going to exit big, and we need to

933
00:46:30,280 --> 00:46:35,759
Speaker 6: function this way and just replicating systems with that that you.

934
00:46:35,719 --> 00:46:37,560
Speaker 5: Would come to find in a public trading company.

935
00:46:37,920 --> 00:46:43,000
Speaker 6: So you'll see that most publicly traded companies are you know,

936
00:46:43,160 --> 00:46:45,880
Speaker 6: will have one of the major accounting firms doing their

937
00:46:45,920 --> 00:46:48,520
Speaker 6: accounting or at least doing their audits, like PwC for instance.

938
00:46:49,000 --> 00:46:53,560
Speaker 6: So from from day one, our accounting structure has to

939
00:46:53,600 --> 00:46:56,239
Speaker 6: be on point right because that happens if you if

940
00:46:56,280 --> 00:46:58,319
Speaker 6: you notice, like when you're looking at like startups that

941
00:46:58,400 --> 00:47:00,759
Speaker 6: are trying to go public, they some of them get

942
00:47:00,840 --> 00:47:01,880
Speaker 6: jammed up because.

943
00:47:01,640 --> 00:47:04,600
Speaker 5: Of accounting, you know issues.

944
00:47:04,520 --> 00:47:06,759
Speaker 6: Is because they didn't have their structure right and now

945
00:47:06,760 --> 00:47:08,560
Speaker 6: they got to get they got to spend two or

946
00:47:08,600 --> 00:47:11,640
Speaker 6: three years getting their financial straight to then take the

947
00:47:11,640 --> 00:47:14,760
Speaker 6: company public. So by building from from the very beginning

948
00:47:14,840 --> 00:47:18,840
Speaker 6: with the mindset of this is this is how accounting.

949
00:47:18,480 --> 00:47:20,120
Speaker 5: Is done in publicly traded companies.

950
00:47:20,480 --> 00:47:24,040
Speaker 6: This is how much money is allocated to marketing spend

951
00:47:24,200 --> 00:47:27,600
Speaker 6: versus revenue. Having all those details and people who are

952
00:47:27,600 --> 00:47:30,759
Speaker 6: familiar with those details being on your team from the

953
00:47:30,800 --> 00:47:33,040
Speaker 6: beginning is what you need. And also you're going to

954
00:47:33,080 --> 00:47:35,080
Speaker 6: need money to support that. A lot of one of

955
00:47:35,120 --> 00:47:37,239
Speaker 6: the mistakes that we make, as you know, as a

956
00:47:37,280 --> 00:47:41,240
Speaker 6: community is we'll start our business with too little money

957
00:47:41,400 --> 00:47:44,640
Speaker 6: with our friends, with our family, and they're not skilled

958
00:47:44,920 --> 00:47:47,080
Speaker 6: to take it to a certain point, and then we

959
00:47:47,120 --> 00:47:49,160
Speaker 6: don't even have the discussion of what is the vision.

960
00:47:48,880 --> 00:47:50,160
Speaker 5: For the company?

961
00:47:50,280 --> 00:47:52,080
Speaker 6: Where are we trying to go, what are we trying

962
00:47:52,120 --> 00:47:54,359
Speaker 6: to do, how are we trying to get there? Are

963
00:47:54,360 --> 00:47:59,759
Speaker 6: our visions aligned? Are values aligned? And those things you

964
00:47:59,760 --> 00:48:01,760
Speaker 6: need to set, you need to set them from the beginning.

965
00:48:02,000 --> 00:48:04,719
Speaker 6: If you don't, you're gonna be building a company on

966
00:48:04,760 --> 00:48:05,560
Speaker 6: a shaky foundation.

967
00:48:06,120 --> 00:48:07,000
Speaker 5: So you're gonna build a.

968
00:48:06,920 --> 00:48:10,200
Speaker 6: Company that you know at a certain point it can't

969
00:48:10,200 --> 00:48:13,160
Speaker 6: grow anymore because your foundation isn't set.

970
00:48:13,840 --> 00:48:17,880
Speaker 3: Yeah, that's big. Obviously, I've heard of assets under management.

971
00:48:17,880 --> 00:48:21,040
Speaker 3: I never heard of lives under management before, but makes

972
00:48:21,080 --> 00:48:22,880
Speaker 3: sense if you're in the medical field.

973
00:48:24,040 --> 00:48:24,920
Speaker 7: So yeah, I mean that.

974
00:48:25,040 --> 00:48:26,840
Speaker 3: Like you said, I mean you just outlined your vision,

975
00:48:27,120 --> 00:48:30,360
Speaker 3: and I think that that's important for entrepreneurs, whether it's big, small,

976
00:48:30,440 --> 00:48:34,000
Speaker 3: middle whatever. You have to have a vision. And it's

977
00:48:34,040 --> 00:48:36,400
Speaker 3: like you already kind of have an idea in your mind.

978
00:48:36,640 --> 00:48:38,480
Speaker 3: Nothing ever goes according to plan, but at least you

979
00:48:38,520 --> 00:48:40,839
Speaker 3: have a roadmap of where you want your company to go.

980
00:48:40,880 --> 00:48:43,040
Speaker 3: And that's more than half the battle right there. I

981
00:48:43,040 --> 00:48:45,560
Speaker 3: think a lot of entrepreneurs are just winging it, winking

982
00:48:45,640 --> 00:48:48,080
Speaker 3: up and just trying to figure it out day to day,

983
00:48:48,200 --> 00:48:51,719
Speaker 3: like they're literally living day to day, and times like

984
00:48:51,760 --> 00:48:55,480
Speaker 3: this it just really exposes that. And now you're in

985
00:48:55,520 --> 00:48:59,439
Speaker 3: a financial crisis because you never really had a business plan.

986
00:48:59,600 --> 00:49:02,640
Speaker 3: You just had you know, figure it out mentality as

987
00:49:02,640 --> 00:49:04,960
Speaker 3: you go, and that can only take you so far.

988
00:49:05,760 --> 00:49:07,640
Speaker 5: Correct, It's it's a and the thing.

989
00:49:07,719 --> 00:49:12,960
Speaker 6: I'm lucky, really, I'm lucky, like just like like like

990
00:49:12,960 --> 00:49:19,239
Speaker 6: like the VC dude that was just from Black Star, Yeah,

991
00:49:19,400 --> 00:49:22,480
Speaker 6: kwami he When I was watching that, I was like,

992
00:49:22,520 --> 00:49:26,480
Speaker 6: this is like my story, right because his father's a physician,

993
00:49:27,360 --> 00:49:29,799
Speaker 6: he's helping out at the office, he's learning and he's

994
00:49:29,840 --> 00:49:33,480
Speaker 6: watching and like having that that information coming into your

995
00:49:33,520 --> 00:49:35,960
Speaker 6: mind from that young you start to just like you say,

996
00:49:36,120 --> 00:49:37,719
Speaker 6: I think you say something. If you start looking at

997
00:49:38,160 --> 00:49:40,200
Speaker 6: a yellow car, you start to notice more yellow cars.

998
00:49:40,640 --> 00:49:43,040
Speaker 5: Right, So if I am ready I'm looking.

999
00:49:42,800 --> 00:49:46,239
Speaker 6: At okay, my mom's staffing business, and I'm now I'm

1000
00:49:46,280 --> 00:49:47,520
Speaker 6: in the staffing business myself.

1001
00:49:47,719 --> 00:49:49,360
Speaker 5: You start and I'm working in hospital.

1002
00:49:49,440 --> 00:49:52,560
Speaker 6: Still you start having your eyes open to where's the

1003
00:49:52,600 --> 00:49:55,399
Speaker 6: money moving, how's it moving? So certain things that will

1004
00:49:55,440 --> 00:49:57,440
Speaker 6: go over your head don't go over your head anymore.

1005
00:49:58,360 --> 00:50:01,839
Speaker 5: Certain keywords immediately R So it's it's the same thing.

1006
00:50:01,840 --> 00:50:04,839
Speaker 6: But what I see with a lot of people is

1007
00:50:04,840 --> 00:50:08,280
Speaker 6: that they either they don't have much, you know, entrepreneurial experience,

1008
00:50:08,680 --> 00:50:11,719
Speaker 6: they get it later in life and they start.

1009
00:50:11,600 --> 00:50:12,200
Speaker 5: Just winging it.

1010
00:50:12,560 --> 00:50:15,000
Speaker 6: The best thing that you could do is, you know,

1011
00:50:15,160 --> 00:50:19,840
Speaker 6: hit what one do like a business a business template

1012
00:50:19,960 --> 00:50:22,760
Speaker 6: or a business model. It just look this Google business

1013
00:50:22,840 --> 00:50:27,640
Speaker 6: model and YouTube a business model video. It walks you

1014
00:50:27,680 --> 00:50:29,839
Speaker 6: through how you should be thinking about your business. The

1015
00:50:29,960 --> 00:50:32,280
Speaker 6: very first thing is what is your value proposition?

1016
00:50:32,960 --> 00:50:33,640
Speaker 5: What do you often?

1017
00:50:33,719 --> 00:50:37,840
Speaker 6: What problem are you fixing or what need are you addressing?

1018
00:50:38,560 --> 00:50:41,560
Speaker 6: What is what is that in your company? Right so

1019
00:50:42,560 --> 00:50:46,360
Speaker 6: at eight book, what is our value proposition? We're dealing

1020
00:50:46,400 --> 00:50:51,400
Speaker 6: with this problem that hospitals have of patients being readmitted,

1021
00:50:52,120 --> 00:50:53,880
Speaker 6: and that's the problem that we're trying to solve, and

1022
00:50:53,920 --> 00:50:56,799
Speaker 6: we're going to monetize that by solving that problem and

1023
00:50:56,840 --> 00:50:58,359
Speaker 6: by being the service provider.

1024
00:50:58,040 --> 00:50:58,680
Speaker 5: To those patients.

1025
00:50:59,480 --> 00:51:01,479
Speaker 4: Many how many the states are you operating in right now,

1026
00:51:01,960 --> 00:51:02,399
Speaker 4: right now?

1027
00:51:02,480 --> 00:51:04,839
Speaker 5: Well, New York and then with eight book, it's going

1028
00:51:04,840 --> 00:51:05,080
Speaker 5: to be.

1029
00:51:05,000 --> 00:51:08,080
Speaker 4: Florida, Florida. And when I'm thinking Florida, and I'm thinking,

1030
00:51:08,120 --> 00:51:11,280
Speaker 4: like when you said you want to grow your clients

1031
00:51:11,560 --> 00:51:14,600
Speaker 4: by one hundred per or thousand per year, you're in

1032
00:51:14,640 --> 00:51:19,200
Speaker 4: a state with the largest population, well the oldest population

1033
00:51:19,280 --> 00:51:21,280
Speaker 4: in the country. Was that done intentionally?

1034
00:51:23,120 --> 00:51:29,040
Speaker 6: Actually not really, because Florida, like in New York, we're

1035
00:51:29,080 --> 00:51:32,680
Speaker 6: dealing mostly with Medicaid, managed law, term care right as

1036
00:51:32,680 --> 00:51:36,440
Speaker 6: the payer. Florida has a cap on how many waivers

1037
00:51:36,440 --> 00:51:37,719
Speaker 6: they put out.

1038
00:51:37,920 --> 00:51:40,760
Speaker 5: Right, it's a red state mostly, so.

1039
00:51:41,080 --> 00:51:43,920
Speaker 6: They put out you know, they do less spending, so

1040
00:51:43,960 --> 00:51:46,120
Speaker 6: a lot of the people here are self paid. But

1041
00:51:46,360 --> 00:51:49,040
Speaker 6: I liked Florida because, you know, I'm going to be

1042
00:51:49,360 --> 00:51:51,080
Speaker 6: living part time in Colombia.

1043
00:51:51,640 --> 00:51:55,319
Speaker 5: So it's a good midpoint between Columbia and New York. So,

1044
00:51:55,719 --> 00:51:58,040
Speaker 5: and it has the international airports, the weather it's good,

1045
00:51:58,320 --> 00:52:01,200
Speaker 5: So that's why I chose. I chose Florida.

1046
00:52:01,280 --> 00:52:03,640
Speaker 6: But I'm going to be expanding into every state that

1047
00:52:03,800 --> 00:52:07,879
Speaker 6: has you know, a thriving home care community, like home

1048
00:52:07,920 --> 00:52:18,440
Speaker 6: care infrastructure. So Florida North Carolina, Texas, Atlanta, or Georgia, Pennsylvania, California.

1049
00:52:18,719 --> 00:52:22,000
Speaker 6: So those are states that I would be willing to

1050
00:52:22,880 --> 00:52:25,640
Speaker 6: enter because I know that the home care infrastructure is good.

1051
00:52:25,680 --> 00:52:27,880
Speaker 3: There you have it, ladies and gentlemen. So on the

1052
00:52:27,920 --> 00:52:30,160
Speaker 3: last segment, we're going to talk about your software system.

1053
00:52:30,200 --> 00:52:32,120
Speaker 3: That's actually something you're a lot going on. We go

1054
00:52:32,640 --> 00:52:34,920
Speaker 3: time on time the software system, and then we're going

1055
00:52:34,960 --> 00:52:37,040
Speaker 3: to bring home with everything yet you got going on now,

1056
00:52:37,160 --> 00:52:40,160
Speaker 3: So yeah, so we're going to talk about your software system.

1057
00:52:40,200 --> 00:52:44,160
Speaker 3: But before, one quick question about your company. So how

1058
00:52:44,160 --> 00:52:46,759
Speaker 3: do you raise money? Because I am you know, it's

1059
00:52:47,120 --> 00:52:50,399
Speaker 3: probably a lot as far as the expenses to run

1060
00:52:50,920 --> 00:52:52,840
Speaker 3: these type of organizations. You say, you even have to

1061
00:52:52,840 --> 00:52:54,759
Speaker 3: pay upfront then you get reimbursed on the back end.

1062
00:52:54,800 --> 00:52:58,759
Speaker 3: So finance finances is always the biggest hurdle for any

1063
00:52:58,800 --> 00:53:02,760
Speaker 3: business for the most part. So how do you raise money?

1064
00:53:02,800 --> 00:53:04,600
Speaker 3: How do you have money coming in on a consistent

1065
00:53:04,600 --> 00:53:07,279
Speaker 3: basis to float your operations?

1066
00:53:08,200 --> 00:53:09,799
Speaker 5: Okay, so in.

1067
00:53:11,800 --> 00:53:15,759
Speaker 6: Looking at the staff and business that started with five

1068
00:53:15,800 --> 00:53:21,440
Speaker 6: thousand dollars five K and obviously that's undercapitalized.

1069
00:53:20,719 --> 00:53:23,839
Speaker 5: Right, that's what ended up happening. Is that all right?

1070
00:53:24,080 --> 00:53:27,839
Speaker 6: We're limited to how much services we can provide. Some

1071
00:53:27,880 --> 00:53:30,440
Speaker 6: people waiting a month to get paid because we were

1072
00:53:30,640 --> 00:53:35,719
Speaker 6: getting paid on a monthly basis. So first was like

1073
00:53:35,760 --> 00:53:37,560
Speaker 6: the most traditional people, You go to a bank, you

1074
00:53:37,560 --> 00:53:40,440
Speaker 6: apply for a line of credit, right, but that's only

1075
00:53:40,480 --> 00:53:43,239
Speaker 6: going to be if you have business history, right, and

1076
00:53:43,239 --> 00:53:45,760
Speaker 6: then they feel that you're credit worthy. But with time,

1077
00:53:45,960 --> 00:53:49,000
Speaker 6: those lines of credit, it was tapping. For one case,

1078
00:53:49,280 --> 00:53:52,279
Speaker 6: it was tapping friends and family. And that's usually where

1079
00:53:52,320 --> 00:53:57,280
Speaker 6: most people start with either basic credit cards or getting

1080
00:53:57,320 --> 00:54:00,359
Speaker 6: money from the bank, right, But they're not let much

1081
00:54:00,360 --> 00:54:03,440
Speaker 6: and it's not enough to really turbo charge your company.

1082
00:54:03,640 --> 00:54:08,080
Speaker 6: It wasn't until I was trading stocks and building, you know,

1083
00:54:08,200 --> 00:54:13,640
Speaker 6: a tech company that I started to understand that starting

1084
00:54:13,640 --> 00:54:16,399
Speaker 6: with friends and family money is pools fight.

1085
00:54:16,440 --> 00:54:17,880
Speaker 5: It's you know, it could get you started.

1086
00:54:18,000 --> 00:54:20,399
Speaker 6: Starting with little credit cards and bank money is enough

1087
00:54:20,400 --> 00:54:23,239
Speaker 6: to get you started. But if you're really gonna try

1088
00:54:23,239 --> 00:54:25,719
Speaker 6: to expand your business, you're going to have to raise

1089
00:54:25,760 --> 00:54:31,239
Speaker 6: money from from institutional investors, right from VC firms, from

1090
00:54:31,280 --> 00:54:36,400
Speaker 6: angel investors. And their entire business model is to identify

1091
00:54:37,280 --> 00:54:43,439
Speaker 6: solid companies, pump money in with the intention solely.

1092
00:54:43,120 --> 00:54:44,160
Speaker 5: To scale them. Right.

1093
00:54:44,440 --> 00:54:49,239
Speaker 6: That's a little different than starting from scratch, right, because

1094
00:54:49,239 --> 00:54:50,680
Speaker 6: it's sometimes all right, so.

1095
00:54:50,640 --> 00:54:53,000
Speaker 5: In the world, in the in the startup world.

1096
00:54:52,840 --> 00:54:56,280
Speaker 6: Right, and it's not just tech startups because any obviously

1097
00:54:56,280 --> 00:54:57,480
Speaker 6: any industry could be a startup.

1098
00:54:57,520 --> 00:54:57,879
Speaker 5: But in the.

1099
00:54:57,840 --> 00:55:04,160
Speaker 6: Startup world, you your first objective is to develop an MVP, right,

1100
00:55:04,280 --> 00:55:08,239
Speaker 6: your minimally viable product, and that's the.

1101
00:55:08,160 --> 00:55:09,520
Speaker 5: First thing that you need to finance.

1102
00:55:09,600 --> 00:55:12,879
Speaker 6: Right. Prove that you have a product or service that

1103
00:55:12,920 --> 00:55:14,480
Speaker 6: the market is in demand for.

1104
00:55:14,640 --> 00:55:17,000
Speaker 5: Prove that you can monetize it. That's the first thing

1105
00:55:17,000 --> 00:55:17,880
Speaker 5: that you should raise money for.

1106
00:55:17,880 --> 00:55:19,680
Speaker 6: And if you're going to do it with your credit

1107
00:55:19,680 --> 00:55:22,399
Speaker 6: cards and with friends and family money, that's the time

1108
00:55:22,480 --> 00:55:24,360
Speaker 6: because you don't necessarily have to go out there and

1109
00:55:24,600 --> 00:55:27,640
Speaker 6: form a business. You just have to prove that you

1110
00:55:27,760 --> 00:55:29,800
Speaker 6: have a product or service that people.

1111
00:55:29,640 --> 00:55:30,400
Speaker 5: Are willing to pay for.

1112
00:55:31,120 --> 00:55:34,040
Speaker 6: Once you can prove that with this product or service,

1113
00:55:34,760 --> 00:55:37,200
Speaker 6: it costs, you know, ten thousand dollars a month to operate,

1114
00:55:37,239 --> 00:55:43,840
Speaker 6: but it generates fifty thousand dollars of money like annual profits.

1115
00:55:45,200 --> 00:55:48,000
Speaker 6: Once you can prove that relationship that money in. Doing

1116
00:55:48,040 --> 00:55:52,520
Speaker 6: this thing produces money out at a multiple larger than

1117
00:55:52,520 --> 00:55:52,920
Speaker 6: money in.

1118
00:55:54,160 --> 00:55:54,920
Speaker 5: You can take that.

1119
00:55:56,520 --> 00:55:59,880
Speaker 6: Little company to market and start raising money from angel

1120
00:55:59,880 --> 00:56:02,479
Speaker 6: and vests and venture capitalist and then.

1121
00:56:02,280 --> 00:56:03,200
Speaker 5: There's gonna be different.

1122
00:56:03,280 --> 00:56:05,640
Speaker 6: There's gonna be different levels of them, right, there's gonna

1123
00:56:05,640 --> 00:56:08,680
Speaker 6: be there's gonna be like Brooklyn what is it, Brooklyn

1124
00:56:08,680 --> 00:56:12,160
Speaker 6: Bread Ventures, Right, Charlie Charlie o'donnald is the guy who

1125
00:56:12,200 --> 00:56:15,920
Speaker 6: hits that fund. He likes to deal with companies that

1126
00:56:16,160 --> 00:56:20,279
Speaker 6: are at that seed level, that first investment usually five

1127
00:56:20,360 --> 00:56:23,480
Speaker 6: hundred thousand million in capital.

1128
00:56:23,840 --> 00:56:24,640
Speaker 5: Then there's like the.

1129
00:56:24,640 --> 00:56:27,560
Speaker 6: Series A, Series B and so on and some So

1130
00:56:27,600 --> 00:56:30,879
Speaker 6: there's some VC firms that only get in at that

1131
00:56:31,000 --> 00:56:36,000
Speaker 6: pre like like two hundred million dollar minimum. Like we

1132
00:56:36,040 --> 00:56:38,560
Speaker 6: don't look at any company that doesn't require two hundred

1133
00:56:38,600 --> 00:56:41,680
Speaker 6: million dollars or more. Right, So it's all about what

1134
00:56:42,040 --> 00:56:44,080
Speaker 6: we're trying to go. But the first, the first that

1135
00:56:44,239 --> 00:56:47,080
Speaker 6: seed funding of that that anywhere from half a million

1136
00:56:47,120 --> 00:56:50,680
Speaker 6: dollars to like one to one point five. There's there's

1137
00:56:50,760 --> 00:56:54,120
Speaker 6: VC firms that specialize in just that that. There's VC

1138
00:56:54,200 --> 00:56:56,920
Speaker 6: firms that specialize in and then different sectors. Some are

1139
00:56:57,000 --> 00:57:00,680
Speaker 6: healthcare focused, some are technology focused, some are in the agnostic.

1140
00:57:01,280 --> 00:57:05,279
Speaker 6: It really depends, but you need to have some sort

1141
00:57:05,280 --> 00:57:08,439
Speaker 6: of traction some sort of proof that your business is growing.

1142
00:57:08,480 --> 00:57:11,239
Speaker 6: And I learned that by doing my tech startup because

1143
00:57:11,239 --> 00:57:12,040
Speaker 6: I was like, all right, I know I'm.

1144
00:57:11,960 --> 00:57:13,439
Speaker 5: Gonna need money to fuel this thing.

1145
00:57:14,040 --> 00:57:18,200
Speaker 6: And in going to like tech startup meetups, listening to

1146
00:57:18,240 --> 00:57:22,760
Speaker 6: the conversations, going to pitching events where you're actually you know,

1147
00:57:22,840 --> 00:57:25,600
Speaker 6: competing to raise money, or you are even just practicing

1148
00:57:25,880 --> 00:57:29,560
Speaker 6: you're you're pitching, you hear what the what the VC

1149
00:57:29,600 --> 00:57:30,440
Speaker 6: firms are interested in.

1150
00:57:31,920 --> 00:57:35,240
Speaker 5: What's the cost to acquire a user? What is that

1151
00:57:35,320 --> 00:57:36,840
Speaker 5: user worth? How much?

1152
00:57:36,920 --> 00:57:38,480
Speaker 6: How much does it cost to acquire a user? And

1153
00:57:38,480 --> 00:57:42,800
Speaker 6: what's the lifetime of a user? What's the value proposition here?

1154
00:57:43,040 --> 00:57:45,480
Speaker 6: That you're going to ask you those questions and sometimes

1155
00:57:45,600 --> 00:57:47,800
Speaker 6: you need to be asked that question, so you.

1156
00:57:47,800 --> 00:57:51,439
Speaker 4: Can go back to your computer right right, right, right right,

1157
00:57:52,080 --> 00:57:52,840
Speaker 4: and then you you end.

1158
00:57:52,840 --> 00:57:56,040
Speaker 6: Up start You end up creating what they're asking for.

1159
00:57:57,120 --> 00:57:58,920
Speaker 6: We need you to look like this. They you know,

1160
00:57:58,920 --> 00:58:00,080
Speaker 6: in the startuporld, a wey talk abo.

1161
00:58:00,200 --> 00:58:03,200
Speaker 5: The hockey stick. They want your growth to be the

1162
00:58:03,240 --> 00:58:03,840
Speaker 5: hockey stick.

1163
00:58:03,920 --> 00:58:06,520
Speaker 6: Right, gradual growth or if you just look at the

1164
00:58:07,080 --> 00:58:10,720
Speaker 6: that's viral right, look at COVID nineteen right.

1165
00:58:10,960 --> 00:58:13,200
Speaker 5: That's truly the definition of going viral.

1166
00:58:13,480 --> 00:58:15,240
Speaker 4: You look at the curve literally with.

1167
00:58:15,240 --> 00:58:18,240
Speaker 5: The numbers and then it's exponential.

1168
00:58:18,600 --> 00:58:21,240
Speaker 6: Yeah, that they're they're looking to see that you're on

1169
00:58:21,360 --> 00:58:24,880
Speaker 6: that trajectory, that there's going to be that level of absorption.

1170
00:58:25,040 --> 00:58:28,880
Speaker 6: So once you start looking at vcs to answer that questions,

1171
00:58:28,960 --> 00:58:30,520
Speaker 6: how do you raise money? How do you get the money?

1172
00:58:30,520 --> 00:58:33,400
Speaker 6: Once you start looking at them, it forces you to become,

1173
00:58:34,520 --> 00:58:37,200
Speaker 6: you know, a builder of a business because they want

1174
00:58:37,280 --> 00:58:41,760
Speaker 6: they want your business to succeed, but they can identify

1175
00:58:41,800 --> 00:58:43,960
Speaker 6: that you're on shaky grounds. So they want your foundation

1176
00:58:44,000 --> 00:58:45,520
Speaker 6: to be tight, they want your team to be tight,

1177
00:58:45,760 --> 00:58:47,760
Speaker 6: they want there to be traction, they want the market

1178
00:58:47,760 --> 00:58:48,800
Speaker 6: size to be large enough.

1179
00:58:49,440 --> 00:58:51,120
Speaker 5: And those are the things that they're interested in.

1180
00:58:52,440 --> 00:58:56,240
Speaker 3: So as far as your your software system on time

1181
00:58:56,360 --> 00:58:58,440
Speaker 3: i TS, can you talk about that?

1182
00:58:59,200 --> 00:58:59,680
Speaker 5: Yeah? Sure?

1183
00:58:59,760 --> 00:59:02,880
Speaker 6: So a long time ITS was born out of me

1184
00:59:03,360 --> 00:59:07,880
Speaker 6: doing my fashion tech company. Right, my ex wife was

1185
00:59:07,920 --> 00:59:09,600
Speaker 6: interested in fashion. She had this idea and I was like,

1186
00:59:09,640 --> 00:59:11,800
Speaker 6: you know what, let's do it. So I found some

1187
00:59:11,920 --> 00:59:15,600
Speaker 6: web developers in India started building that fashion tech, built

1188
00:59:15,600 --> 00:59:18,480
Speaker 6: a fashion application. And I'm going around now as this

1189
00:59:18,520 --> 00:59:20,800
Speaker 6: is a break from healthcare, because I got kind of

1190
00:59:20,920 --> 00:59:23,200
Speaker 6: tired of it's been my whole life. So I'm going

1191
00:59:23,240 --> 00:59:28,360
Speaker 6: around function as the CEO of this tech fashion tech startup.

1192
00:59:28,840 --> 00:59:31,640
Speaker 6: And I went to an accelerator, And an accelerator is

1193
00:59:33,200 --> 00:59:35,560
Speaker 6: kind of like a VC firm, but they take you

1194
00:59:35,600 --> 00:59:38,080
Speaker 6: from concept to the point where you.

1195
00:59:38,120 --> 00:59:39,520
Speaker 5: Start to raise your first round.

1196
00:59:39,920 --> 00:59:42,840
Speaker 6: So they forced, they mentor you, they coach you, they

1197
00:59:42,880 --> 00:59:45,720
Speaker 6: give you your initial money, they take like eight percent, right,

1198
00:59:45,760 --> 00:59:49,280
Speaker 6: they fund you maybe one hundred thousand, take eight percent

1199
00:59:49,320 --> 00:59:52,480
Speaker 6: of the company from jump and then they start telling

1200
00:59:52,560 --> 00:59:56,000
Speaker 6: they start modeling you so you can get that initial

1201
00:59:56,040 --> 00:59:58,840
Speaker 6: traction and then they take you to market the final

1202
00:59:58,920 --> 01:00:01,520
Speaker 6: do you graduate from an celebrator on pitch me. So

1203
01:00:01,560 --> 01:00:04,479
Speaker 6: there's tech stars, there's e R which is the one

1204
01:00:04,520 --> 01:00:05,360
Speaker 6: that I'm talking about.

1205
01:00:05,720 --> 01:00:08,160
Speaker 5: There's there's a uh this.

1206
01:00:08,360 --> 01:00:10,440
Speaker 6: There's tons of them, right and there some somewhere in

1207
01:00:10,440 --> 01:00:13,440
Speaker 6: New York, A lot of them are in San Francisco.

1208
01:00:13,640 --> 01:00:16,120
Speaker 6: So I was starting to go through that circuit, right,

1209
01:00:16,320 --> 01:00:18,600
Speaker 6: learning about the start of culture, learning how to raise money.

1210
01:00:19,440 --> 01:00:23,520
Speaker 6: So I go to I'm pitching at uh T E

1211
01:00:23,680 --> 01:00:26,640
Speaker 6: R A and the the principle there is his name

1212
01:00:26,720 --> 01:00:27,640
Speaker 6: is Mira Mirror.

1213
01:00:27,720 --> 01:00:28,120
Speaker 5: It's like.

1214
01:00:29,840 --> 01:00:31,920
Speaker 6: I'm looking at your resume I'm looking at your history

1215
01:00:31,920 --> 01:00:35,920
Speaker 6: and you're you're honestly proven as an entrepreneur. What the

1216
01:00:35,960 --> 01:00:38,320
Speaker 6: hell are you doing in fashion? Why don't you solve

1217
01:00:38,320 --> 01:00:42,840
Speaker 6: a problem in healthcare? And that's something I could get

1218
01:00:42,840 --> 01:00:46,520
Speaker 6: behind because that's that tells a better story. I could

1219
01:00:46,560 --> 01:00:48,919
Speaker 6: see that story. I don't see your connection. I don't

1220
01:00:48,920 --> 01:00:51,200
Speaker 6: see your understanding the fashion. This is this, this is

1221
01:00:51,240 --> 01:00:55,080
Speaker 6: a good idea, but do you have relevant experience in

1222
01:00:55,120 --> 01:00:58,480
Speaker 6: that field two to really see it through?

1223
01:00:59,320 --> 01:01:01,080
Speaker 5: And he was like, so something in healthcare. So then

1224
01:01:01,120 --> 01:01:02,040
Speaker 5: I'm thinking back to my.

1225
01:01:02,000 --> 01:01:05,400
Speaker 6: Homecare agency and I'm like, you know what's really annoying?

1226
01:01:06,200 --> 01:01:10,920
Speaker 6: Time sheets. We're functioning on paper time sheets where the

1227
01:01:11,080 --> 01:01:13,120
Speaker 6: home health aid went to the patient's house, worked for

1228
01:01:13,160 --> 01:01:15,360
Speaker 6: the week, patient signs off because that's something that the

1229
01:01:15,360 --> 01:01:16,000
Speaker 6: state requires.

1230
01:01:16,000 --> 01:01:18,840
Speaker 5: They need proof that the service was provided, notes, that

1231
01:01:18,880 --> 01:01:19,360
Speaker 5: sort of thing.

1232
01:01:20,200 --> 01:01:23,520
Speaker 6: So I was like, that timesheet, they have to bring

1233
01:01:23,520 --> 01:01:25,640
Speaker 6: it in by the deadline on a certain date so

1234
01:01:25,640 --> 01:01:27,960
Speaker 6: that they g get processed on time for payroll, and

1235
01:01:28,000 --> 01:01:28,720
Speaker 6: if they bring it in.

1236
01:01:28,720 --> 01:01:31,520
Speaker 5: Late, they're still upset that they didn't get paid. So

1237
01:01:31,560 --> 01:01:33,120
Speaker 5: I was like, this is a nightmare.

1238
01:01:33,840 --> 01:01:36,440
Speaker 6: So it's like, you know what, let me create a

1239
01:01:36,600 --> 01:01:41,520
Speaker 6: mobile application that allows my home health aids to capture

1240
01:01:41,520 --> 01:01:45,000
Speaker 6: their time sheet on their cell phone, right, and that's where.

1241
01:01:44,840 --> 01:01:45,680
Speaker 5: On time was born.

1242
01:01:45,960 --> 01:01:50,360
Speaker 6: So all times a home healthcare practice management solution that

1243
01:01:50,600 --> 01:01:56,160
Speaker 6: allows you to handle time and attendance, payroll, scheduling, billing.

1244
01:01:57,240 --> 01:02:01,920
Speaker 6: And we're now building the medical records portion, right so

1245
01:02:01,920 --> 01:02:04,440
Speaker 6: that nursing nurses, notes, etetera, because that's still on paper

1246
01:02:04,760 --> 01:02:09,120
Speaker 6: our company. And that's a solution that I'm going to

1247
01:02:09,240 --> 01:02:12,680
Speaker 6: provide to social built daycare, which is another part of

1248
01:02:12,680 --> 01:02:16,480
Speaker 6: the home care hustle, to home care agencies, and a

1249
01:02:16,600 --> 01:02:20,360
Speaker 6: version that's like industry agnostic as well. Were time and

1250
01:02:20,360 --> 01:02:23,919
Speaker 6: attendance for any mobile worker. So if it's the cable guy,

1251
01:02:24,400 --> 01:02:26,600
Speaker 6: then he could punch in that I'm at this work site,

1252
01:02:26,760 --> 01:02:29,200
Speaker 6: I got here and get paid that way.

1253
01:02:29,280 --> 01:02:31,120
Speaker 5: So that's what on time is.

1254
01:02:31,480 --> 01:02:35,400
Speaker 4: Well, how long did it take to build out that platform, Well,

1255
01:02:35,440 --> 01:02:36,200
Speaker 4: I've been building that.

1256
01:02:36,240 --> 01:02:42,520
Speaker 6: Since I've been building that since twenty fifteen, so the

1257
01:02:42,560 --> 01:02:47,040
Speaker 6: time and attendance, the first iteration of on time probably

1258
01:02:47,120 --> 01:02:51,080
Speaker 6: took about six months. And then that was built on

1259
01:02:51,160 --> 01:02:54,920
Speaker 6: a shaky foundation and we figured that out later. Then

1260
01:02:54,960 --> 01:02:58,560
Speaker 6: we rebuilt it. So this is like version two of

1261
01:02:58,600 --> 01:03:02,600
Speaker 6: the system. The first version was time and attendance and

1262
01:03:02,640 --> 01:03:05,400
Speaker 6: that's it. Then we built time and Attendance and schedule

1263
01:03:05,800 --> 01:03:07,840
Speaker 6: and then we started. Then we added billing because billing

1264
01:03:07,960 --> 01:03:12,760
Speaker 6: is done, you know, on these forms, it's a very

1265
01:03:12,800 --> 01:03:16,480
Speaker 6: repetitive process. Manually put in the wrong billing code, you

1266
01:03:16,480 --> 01:03:19,560
Speaker 6: get rejected. You you won't know it until thirty days

1267
01:03:19,560 --> 01:03:21,840
Speaker 6: from there. So it was like, you know what, this

1268
01:03:21,880 --> 01:03:23,520
Speaker 6: is another problem within the company that we need to

1269
01:03:23,520 --> 01:03:25,880
Speaker 6: fix is we need to automate the billing process so

1270
01:03:25,920 --> 01:03:28,840
Speaker 6: that it's accurate and it's end to end. So the

1271
01:03:28,960 --> 01:03:33,120
Speaker 6: home healthy punches in a regislation. In your system, you

1272
01:03:33,200 --> 01:03:35,920
Speaker 6: run payroll by just selecting the date range. Payrolls processed

1273
01:03:35,920 --> 01:03:39,120
Speaker 6: and ran, and then you do the same thing you

1274
01:03:39,160 --> 01:03:43,840
Speaker 6: select the date range the insurance company process. Billing is done,

1275
01:03:44,320 --> 01:03:47,600
Speaker 6: so I'm able to function with far less staff, right,

1276
01:03:47,640 --> 01:03:49,240
Speaker 6: I got less administrative staff.

1277
01:03:49,440 --> 01:03:53,800
Speaker 5: I also outsourced part of my staff to Venezuela and Columbia,

1278
01:03:53,960 --> 01:03:56,320
Speaker 5: so I have some of my support there as well.

1279
01:03:56,800 --> 01:03:59,920
Speaker 5: So you know, and that was made possible by software.

1280
01:04:00,080 --> 01:04:01,840
Speaker 5: A simple question.

1281
01:04:02,000 --> 01:04:06,360
Speaker 6: You could probably create a software solution in three to

1282
01:04:06,400 --> 01:04:09,200
Speaker 6: six months and then expand on it.

1283
01:04:09,360 --> 01:04:10,360
Speaker 5: However, you need to.

1284
01:04:10,720 --> 01:04:14,240
Speaker 4: I was reading on the platform that there's a GPS component.

1285
01:04:14,600 --> 01:04:15,360
Speaker 4: How does that work?

1286
01:04:16,440 --> 01:04:20,960
Speaker 6: Okay, so the patient lives somewhere, right, So the patient

1287
01:04:21,040 --> 01:04:23,760
Speaker 6: gets entered in into the system and they get a

1288
01:04:23,920 --> 01:04:28,960
Speaker 6: GPS point for their home. The aid can only punch

1289
01:04:29,000 --> 01:04:32,400
Speaker 6: in when they're within like six meters of that point,

1290
01:04:33,200 --> 01:04:35,240
Speaker 6: so that verifies first of all that they were there.

1291
01:04:36,280 --> 01:04:39,160
Speaker 5: Right. They can't pull the patient's name, they.

1292
01:04:39,080 --> 01:04:41,280
Speaker 6: Can't do anything without being on site. So that's a

1293
01:04:41,280 --> 01:04:46,080
Speaker 6: GPS component. So it's like geo fencing. It's it's by

1294
01:04:46,200 --> 01:04:49,240
Speaker 6: using their GPS coordinate. This person is able to take

1295
01:04:49,280 --> 01:04:52,120
Speaker 6: an action only when they're at that same point. So

1296
01:04:52,160 --> 01:04:54,280
Speaker 6: they just have to turn on their GPS on their phone,

1297
01:04:54,520 --> 01:04:57,960
Speaker 6: rent to their location, punch in. It confirms the location,

1298
01:04:58,360 --> 01:05:00,600
Speaker 6: then allows them to mark off what they've done. They

1299
01:05:00,640 --> 01:05:03,480
Speaker 6: get a pace of bath reminders. You can also tell

1300
01:05:03,520 --> 01:05:04,480
Speaker 6: them what they need to do.

1301
01:05:04,440 --> 01:05:04,840
Speaker 5: For the day.

1302
01:05:05,360 --> 01:05:07,480
Speaker 4: Yeah. I would assume that also helps in attendance. Right

1303
01:05:07,480 --> 01:05:10,160
Speaker 4: if somebody says that at the location, you can one

1304
01:05:10,160 --> 01:05:13,000
Speaker 4: thousand percent prove that they were and how long they were,

1305
01:05:13,040 --> 01:05:15,480
Speaker 4: the duration of time so exactly that that helps out

1306
01:05:15,480 --> 01:05:18,680
Speaker 4: in the billing process too. Nobody's gonna getting overpaid or

1307
01:05:18,760 --> 01:05:20,800
Speaker 4: underpaid for what they did correct.

1308
01:05:21,400 --> 01:05:24,760
Speaker 3: And also also the thing I really like about the

1309
01:05:24,800 --> 01:05:28,520
Speaker 3: whole story is that it's like you found This is

1310
01:05:28,560 --> 01:05:30,760
Speaker 3: a common theme with guests from our podcast, is that

1311
01:05:31,200 --> 01:05:33,280
Speaker 3: you found the need in the industry that you was

1312
01:05:33,320 --> 01:05:35,520
Speaker 3: already at. And it's like when people say like multiple

1313
01:05:35,560 --> 01:05:37,120
Speaker 3: streams of income, and it's like the same thing with

1314
01:05:37,120 --> 01:05:39,200
Speaker 3: like multiple businesses and different ideas. It's like, you don't

1315
01:05:39,200 --> 01:05:41,560
Speaker 3: have to do something completely different from what you're already doing.

1316
01:05:41,680 --> 01:05:44,480
Speaker 7: You're already in the industry. You see a need for it,

1317
01:05:44,720 --> 01:05:45,160
Speaker 7: and it's like.

1318
01:05:45,160 --> 01:05:48,520
Speaker 3: Okay, well, why not just create a software that can

1319
01:05:48,560 --> 01:05:51,840
Speaker 3: help out. But it's like now you've created not only

1320
01:05:51,920 --> 01:05:56,000
Speaker 3: multiple revenue streams, but also you stayed within your pocket,

1321
01:05:56,120 --> 01:05:58,440
Speaker 3: like you're not doing something completely foreign from what you're

1322
01:05:58,440 --> 01:06:01,760
Speaker 3: already doing because you have actually saw it. You're you're

1323
01:06:01,800 --> 01:06:03,640
Speaker 3: in the industry. You see that there's an issue with

1324
01:06:03,720 --> 01:06:07,600
Speaker 3: processing payments and all that stuff. So it's like, okay, now,

1325
01:06:08,160 --> 01:06:10,520
Speaker 3: not only will it help the industry and make things

1326
01:06:10,520 --> 01:06:13,800
Speaker 3: more efficient, but it's also another source of revenue as well.

1327
01:06:13,800 --> 01:06:17,360
Speaker 3: And not even on a micro level. Regularly every day

1328
01:06:17,400 --> 01:06:19,280
Speaker 3: people can just you know, think about that it's like,

1329
01:06:19,400 --> 01:06:21,920
Speaker 3: you know, you have a job, and it's like, okay, well,

1330
01:06:21,960 --> 01:06:23,800
Speaker 3: how can I if I want to start a business,

1331
01:06:23,880 --> 01:06:26,000
Speaker 3: I don't have to do something completely different from my job.

1332
01:06:26,240 --> 01:06:28,120
Speaker 3: I already know what I'm doing for a living. So

1333
01:06:28,640 --> 01:06:30,960
Speaker 3: maybe you know my side hustle is going to be

1334
01:06:31,400 --> 01:06:34,720
Speaker 3: a branch off of my job, like you said, like you,

1335
01:06:34,920 --> 01:06:36,640
Speaker 3: like Troy says all the time. If you're a teacher,

1336
01:06:37,160 --> 01:06:40,760
Speaker 3: you know, why not be why not start a tutoring company?

1337
01:06:40,920 --> 01:06:41,080
Speaker 4: Right?

1338
01:06:41,160 --> 01:06:44,840
Speaker 3: Like, you already teach science, so you know that there's

1339
01:06:44,840 --> 01:06:48,200
Speaker 3: a problem with kids in STEM and there's not enough

1340
01:06:48,240 --> 01:06:51,520
Speaker 3: science teachers and kids don't understand science properly, So why not,

1341
01:06:51,760 --> 01:06:53,920
Speaker 3: you know, have a tutoring program. Why not have an

1342
01:06:53,920 --> 01:06:56,680
Speaker 3: after school program? And I have a summer? Why not

1343
01:06:56,720 --> 01:06:57,240
Speaker 3: write a book?

1344
01:06:57,360 --> 01:06:57,480
Speaker 4: Right?

1345
01:06:57,520 --> 01:07:00,600
Speaker 7: This isn't far from what you're doing.

1346
01:07:00,840 --> 01:07:06,760
Speaker 6: Create a protocol that's that proves that by studying this way, check.

1347
01:07:06,600 --> 01:07:08,960
Speaker 5: This out for you.

1348
01:07:08,960 --> 01:07:13,360
Speaker 6: Create a protocol that says, if students do X, Y,

1349
01:07:13,440 --> 01:07:17,400
Speaker 6: and Z, they see a twenty percent increase doing this

1350
01:07:17,520 --> 01:07:21,080
Speaker 6: thing that I've created, they see a twenty percent increase

1351
01:07:21,120 --> 01:07:23,800
Speaker 6: in their stamp scoops. Right, prove that in your school

1352
01:07:24,520 --> 01:07:26,880
Speaker 6: and then now you got something right there that you

1353
01:07:26,920 --> 01:07:30,120
Speaker 6: could sit there and say, hey, twenty percent increase. I'm

1354
01:07:30,120 --> 01:07:33,240
Speaker 6: going to sell this to every school, right, I'm gonna.

1355
01:07:33,360 --> 01:07:36,520
Speaker 6: I'm gonna This protocol is proven to do this in

1356
01:07:36,560 --> 01:07:40,080
Speaker 6: schools are interested in having their scores increased. And you

1357
01:07:40,160 --> 01:07:42,320
Speaker 6: got something right there that's that's fundable, and it could

1358
01:07:42,360 --> 01:07:43,520
Speaker 6: be something as simple as a game.

1359
01:07:43,920 --> 01:07:44,760
Speaker 5: You just have to prove it.

1360
01:07:44,760 --> 01:07:48,440
Speaker 4: That's fat and your software is proprietory, correct, ye, So

1361
01:07:48,600 --> 01:07:51,920
Speaker 4: are we going to i mean scale this where we're

1362
01:07:51,960 --> 01:07:55,880
Speaker 4: actually selling it the software to hospitals and healthcare agencies

1363
01:07:55,880 --> 01:07:58,840
Speaker 4: as well. Yes, that's nice, Okay.

1364
01:07:59,160 --> 01:08:00,920
Speaker 6: So to get you the full I'm gonna give you

1365
01:08:00,960 --> 01:08:03,480
Speaker 6: the full play. And I don't care because you know

1366
01:08:03,520 --> 01:08:06,480
Speaker 6: if anybody who's listening, I'll compete to me.

1367
01:08:07,240 --> 01:08:09,440
Speaker 5: Right with my own idea.

1368
01:08:09,480 --> 01:08:12,240
Speaker 6: That's my problem, right and that and that means that

1369
01:08:12,240 --> 01:08:15,160
Speaker 6: they're extraordinary as well, and that's probably somebody I wanted me.

1370
01:08:16,720 --> 01:08:19,400
Speaker 5: I'll give you. I'll give you the full story. So

1371
01:08:19,560 --> 01:08:20,600
Speaker 5: the software.

1372
01:08:20,200 --> 01:08:23,639
Speaker 6: Allowed on time allows me to run my operation very

1373
01:08:23,720 --> 01:08:26,719
Speaker 6: lead right. So I'm trying to bring everything onto the platform,

1374
01:08:26,800 --> 01:08:29,840
Speaker 6: so I eliminate paper, eliminate a lot of overhead and

1375
01:08:29,880 --> 01:08:32,439
Speaker 6: I could continue to outsource more and more of my

1376
01:08:32,520 --> 01:08:36,800
Speaker 6: talent too, you know countries where the wages are cheaper. Right,

1377
01:08:37,360 --> 01:08:40,320
Speaker 6: So that's that's that's what's happening with all the time.

1378
01:08:41,000 --> 01:08:45,160
Speaker 6: I could license that out to you know, my competitors

1379
01:08:45,200 --> 01:08:47,320
Speaker 6: so that they could become more efficient and I and

1380
01:08:47,320 --> 01:08:50,080
Speaker 6: I'm gonna charge and I charge per patient, right, So

1381
01:08:50,360 --> 01:08:54,400
Speaker 6: when you wrote, my bottom line grows, right. But I

1382
01:08:54,479 --> 01:08:58,960
Speaker 6: also have an idea to franchise my business as well,

1383
01:08:59,320 --> 01:09:01,519
Speaker 6: because I get I get so many inquiries of how

1384
01:09:01,560 --> 01:09:02,120
Speaker 6: do I start?

1385
01:09:02,840 --> 01:09:05,160
Speaker 5: Can you consult me? You know? And and I hit

1386
01:09:05,360 --> 01:09:06,240
Speaker 5: I tell them straight out.

1387
01:09:06,240 --> 01:09:09,439
Speaker 6: I was like, based on how much I make now, right,

1388
01:09:09,720 --> 01:09:11,800
Speaker 6: I need to charge you one thousand dollars an hour

1389
01:09:12,400 --> 01:09:13,040
Speaker 6: for my time.

1390
01:09:13,680 --> 01:09:13,880
Speaker 5: Right.

1391
01:09:14,000 --> 01:09:16,360
Speaker 6: And I know that's a lot of money, but that's

1392
01:09:16,400 --> 01:09:18,880
Speaker 6: what I need to charge you because that's how much

1393
01:09:18,920 --> 01:09:19,599
Speaker 6: I'm earning.

1394
01:09:20,080 --> 01:09:20,160
Speaker 5: Right.

1395
01:09:20,240 --> 01:09:22,320
Speaker 6: So if I'm going to move my attention from what

1396
01:09:22,400 --> 01:09:25,000
Speaker 6: I'm doing, this is what it has to be.

1397
01:09:25,320 --> 01:09:27,200
Speaker 5: You get what I'm saying. So I get a lot

1398
01:09:27,240 --> 01:09:28,519
Speaker 5: of those inquiries and they're like, you know what, how

1399
01:09:28,520 --> 01:09:31,280
Speaker 5: can I monetize this right in a larger way?

1400
01:09:31,320 --> 01:09:34,639
Speaker 6: And it's like, maybe I need to to franchise a book,

1401
01:09:35,080 --> 01:09:37,479
Speaker 6: so that if they're either going to start a staffing

1402
01:09:37,520 --> 01:09:40,479
Speaker 6: company or they're going to start a home care agency. Hey,

1403
01:09:40,479 --> 01:09:42,240
Speaker 6: they're going to expand my brand, I'm going to earn

1404
01:09:42,560 --> 01:09:44,880
Speaker 6: three percent on their on their revenue or whatever the

1405
01:09:44,880 --> 01:09:47,439
Speaker 6: case may be. They're going to use my software, that's

1406
01:09:47,479 --> 01:09:51,640
Speaker 6: another fee, and I can turn when I'm taught, when

1407
01:09:51,640 --> 01:09:54,559
Speaker 6: it's time for me to acquire or expand, I can

1408
01:09:54,640 --> 01:09:56,960
Speaker 6: either acquire what I've created because they're work functioning on

1409
01:09:56,960 --> 01:10:00,120
Speaker 6: the same infrastructure as me, and I can buy them

1410
01:10:00,120 --> 01:10:02,680
Speaker 6: out at five times earnings, and when I'm ready to go,

1411
01:10:02,920 --> 01:10:06,400
Speaker 6: just start buying back what I've already seeded, you know

1412
01:10:06,400 --> 01:10:08,000
Speaker 6: what I mean. That's that's one of the plays that

1413
01:10:08,040 --> 01:10:11,280
Speaker 6: I have in mind. So you know, on the other side,

1414
01:10:11,760 --> 01:10:15,160
Speaker 6: like I said, our core focus, our core vision, and

1415
01:10:15,200 --> 01:10:19,240
Speaker 6: the problem that we're solving with aid book is.

1416
01:10:19,400 --> 01:10:21,200
Speaker 5: To solve that discharge planning process.

1417
01:10:21,840 --> 01:10:25,400
Speaker 6: Right, So that's that's a I'm just using the Google

1418
01:10:25,479 --> 01:10:27,519
Speaker 6: play here's the software for free.

1419
01:10:28,640 --> 01:10:30,679
Speaker 5: It's proven to reduce your readmission rates.

1420
01:10:31,240 --> 01:10:34,320
Speaker 6: But all that does it serves their bottom line, right,

1421
01:10:35,040 --> 01:10:37,080
Speaker 6: But all that does is allows me to collect all

1422
01:10:37,120 --> 01:10:41,160
Speaker 6: the referrals. So as I'm proving that this software reduces

1423
01:10:41,200 --> 01:10:44,960
Speaker 6: your readmission rates, right, and all of your referrals are

1424
01:10:45,400 --> 01:10:49,920
Speaker 6: all these all these six diseases are guaranteed to be discharged.

1425
01:10:49,520 --> 01:10:51,920
Speaker 5: Through my solution. I control all the referrals.

1426
01:10:52,880 --> 01:10:55,320
Speaker 6: I don't want to even charge them for that I can,

1427
01:10:56,080 --> 01:10:58,000
Speaker 6: but I control all the referrals, so I can wrap

1428
01:10:58,080 --> 01:10:59,760
Speaker 6: them to my FRANCHISESE.

1429
01:10:59,800 --> 01:11:03,760
Speaker 5: I can route them to myself and grow massively because

1430
01:11:03,760 --> 01:11:04,639
Speaker 5: I control your referrals.

1431
01:11:04,680 --> 01:11:06,360
Speaker 6: And it's free, and it's and it's and it's service

1432
01:11:06,640 --> 01:11:10,320
Speaker 6: is serving a basic need for your hospital.

1433
01:11:10,600 --> 01:11:11,800
Speaker 5: So that's that's a full plane.

1434
01:11:12,360 --> 01:11:14,679
Speaker 6: So that's why for me, it's it's it's as simple

1435
01:11:14,720 --> 01:11:18,200
Speaker 6: as you know, what, if I only succeed in Miami

1436
01:11:18,439 --> 01:11:21,200
Speaker 6: and I don't expand, and I don't whatever, I definitely

1437
01:11:21,200 --> 01:11:23,639
Speaker 6: could create what I what I have in New York, Right,

1438
01:11:23,720 --> 01:11:25,519
Speaker 6: I could bump that off for a few million dollars.

1439
01:11:25,840 --> 01:11:29,080
Speaker 6: I could probably get to to maybe four times of

1440
01:11:29,120 --> 01:11:31,320
Speaker 6: size and just my market and then made myself at

1441
01:11:31,320 --> 01:11:34,400
Speaker 6: twenty five million. But I'm pretty damn sure that I'm

1442
01:11:34,400 --> 01:11:36,240
Speaker 6: going to get to the point that I'm saying that

1443
01:11:36,240 --> 01:11:37,840
Speaker 6: I'm going to get to, and then I'm going to

1444
01:11:37,920 --> 01:11:40,920
Speaker 6: have you know, maybe at one point two billion dollar exit.

1445
01:11:41,439 --> 01:11:43,679
Speaker 5: And that's and that's the thinking, and that's and that's

1446
01:11:43,720 --> 01:11:44,400
Speaker 5: what I have in my mind.

1447
01:11:44,400 --> 01:11:46,639
Speaker 6: It's like, how do I reach Like when you think

1448
01:11:46,640 --> 01:11:51,280
Speaker 6: about this thing about the virus, right, you got to

1449
01:11:51,320 --> 01:11:54,599
Speaker 6: spread that thing, right so that it comes in contact

1450
01:11:54,640 --> 01:11:55,280
Speaker 6: with more people.

1451
01:11:56,800 --> 01:11:58,840
Speaker 5: And that costs to spread more and more and more.

1452
01:11:58,920 --> 01:11:59,679
Speaker 5: So you have.

1453
01:11:59,600 --> 01:12:02,639
Speaker 6: To kind of set up these little cells or kind

1454
01:12:02,640 --> 01:12:07,719
Speaker 6: of transmit all over the country to see real growth.

1455
01:12:07,840 --> 01:12:11,759
Speaker 5: You can't just saturate your one market. So that's the idea.

1456
01:12:11,840 --> 01:12:12,040
Speaker 5: For me.

1457
01:12:12,120 --> 01:12:15,680
Speaker 6: It's like, all right, prove this concept, get it into hospitals,

1458
01:12:16,640 --> 01:12:19,320
Speaker 6: go to the next hospital, say hospital one is using

1459
01:12:19,320 --> 01:12:20,680
Speaker 6: this and every emission.

1460
01:12:20,320 --> 01:12:23,600
Speaker 5: Rates are down and it's free. Just use our system.

1461
01:12:24,120 --> 01:12:26,800
Speaker 6: Then going to the next city again, Like for me,

1462
01:12:27,040 --> 01:12:33,760
Speaker 6: the plan is Fort Laurdale, Miami, Tampa, Orlando, Jacksonville, if

1463
01:12:33,760 --> 01:12:35,280
Speaker 6: I prove if I prove it.

1464
01:12:35,280 --> 01:12:37,439
Speaker 5: There, and I'm going to prove it there.

1465
01:12:37,840 --> 01:12:39,840
Speaker 6: But when I prove it there, then it's back to

1466
01:12:39,880 --> 01:12:43,000
Speaker 6: the venture capital firms and saying, hey, look we're now

1467
01:12:43,120 --> 01:12:46,760
Speaker 6: growing up five hundred patients a month in Florida or

1468
01:12:46,800 --> 01:12:49,559
Speaker 6: whatever the number is. We're planning on doing the same

1469
01:12:49,600 --> 01:12:53,080
Speaker 6: thing in these ten states. But what we're gonna do,

1470
01:12:53,160 --> 01:12:56,040
Speaker 6: We're gonna acquire x amount of home core agencies. Right.

1471
01:12:56,120 --> 01:12:58,519
Speaker 5: We're going to do it through through a role up strategy.

1472
01:12:58,720 --> 01:13:01,040
Speaker 6: So we're going to buy one in new or one

1473
01:13:01,080 --> 01:13:04,200
Speaker 6: in Philly, one in Chicago, whatever markets I want to

1474
01:13:04,200 --> 01:13:07,000
Speaker 6: get into, I'm gonna buy them at one hundred or

1475
01:13:07,240 --> 01:13:10,519
Speaker 6: two hundred patient sizes or they're like, you know, two million.

1476
01:13:10,320 --> 01:13:11,360
Speaker 5: Dollar acquisitions a piece.

1477
01:13:11,840 --> 01:13:14,760
Speaker 6: So I need fifty million dollars to do that, and

1478
01:13:14,800 --> 01:13:18,240
Speaker 6: I'm going to just use the same engine that that

1479
01:13:18,280 --> 01:13:22,400
Speaker 6: I'm using in Florida with our discharge planning tool to

1480
01:13:22,439 --> 01:13:23,920
Speaker 6: scale those operations up.

1481
01:13:24,280 --> 01:13:25,599
Speaker 5: We're gonna do that for two years.

1482
01:13:25,680 --> 01:13:27,760
Speaker 6: That's what the fifty million dollars is for whatever the

1483
01:13:27,960 --> 01:13:29,840
Speaker 6: amount is, We're want to do that for two years.

1484
01:13:29,920 --> 01:13:32,800
Speaker 5: We should grow to this point. Once we're at this point,

1485
01:13:33,439 --> 01:13:36,080
Speaker 5: we're going public. Done it. It's a no brander because

1486
01:13:36,120 --> 01:13:38,599
Speaker 5: the VC firm they're looking they're looking for a ten

1487
01:13:38,800 --> 01:13:40,479
Speaker 5: x on their money.

1488
01:13:40,920 --> 01:13:43,760
Speaker 6: Right, So I think if they if they invested a

1489
01:13:43,840 --> 01:13:46,559
Speaker 6: million dollars, they're they're looking for a company.

1490
01:13:46,640 --> 01:13:50,599
Speaker 5: Let's say invested a million dollars to buy twenty percent, right.

1491
01:13:51,080 --> 01:13:54,519
Speaker 6: They're hoping that that twenty percent is going to one

1492
01:13:54,600 --> 01:14:00,599
Speaker 6: day be worth ten million, right, So for that twenty

1493
01:14:00,640 --> 01:14:03,240
Speaker 6: percent to be worth ten million, your company is going

1494
01:14:03,280 --> 01:14:06,000
Speaker 6: to need to be to be what for a fifty

1495
01:14:06,040 --> 01:14:07,200
Speaker 6: million dollar company?

1496
01:14:07,760 --> 01:14:09,680
Speaker 5: Right? So the guy who's.

1497
01:14:09,439 --> 01:14:11,479
Speaker 6: Investing when you're at a fifty when you're at a

1498
01:14:11,520 --> 01:14:13,880
Speaker 6: fifty million dollar company, and they're investing, I don't know,

1499
01:14:14,720 --> 01:14:18,960
Speaker 6: fifty million dollars, they're looking to get out for five

1500
01:14:19,040 --> 01:14:21,720
Speaker 6: hundred million, right, So what kind of company are you

1501
01:14:22,600 --> 01:14:24,200
Speaker 6: that you could raise fifty million dollars?

1502
01:14:24,439 --> 01:14:27,800
Speaker 5: Is a five hundred million dollars exit possible for me? Right?

1503
01:14:27,840 --> 01:14:28,639
Speaker 5: So twenty percent?

1504
01:14:28,680 --> 01:14:30,799
Speaker 6: So this needs to be a two billion dollar company

1505
01:14:31,120 --> 01:14:32,440
Speaker 6: for me to make the numbers.

1506
01:14:32,120 --> 01:14:34,520
Speaker 5: That I'm looking for. But I'm showing.

1507
01:14:34,240 --> 01:14:38,160
Speaker 6: Them this company is trading for its market cap is

1508
01:14:38,200 --> 01:14:41,120
Speaker 6: two billion, and they have thirty three thousand lives.

1509
01:14:41,680 --> 01:14:42,519
Speaker 5: So if I'm.

1510
01:14:42,360 --> 01:14:45,000
Speaker 6: Growing at you know, one thousand lives a month or

1511
01:14:45,000 --> 01:14:47,880
Speaker 6: one thousand lives a year, let's just say in in

1512
01:14:47,960 --> 01:14:49,760
Speaker 6: ten markets, that's ten thousand a year.

1513
01:14:50,400 --> 01:14:51,479
Speaker 5: I'm going to get to that point.

1514
01:14:51,600 --> 01:14:54,880
Speaker 6: So yes, of course, your fifty million dollar infusion will

1515
01:14:55,000 --> 01:14:57,559
Speaker 6: help me be worth two billion dollars per daion and

1516
01:14:57,600 --> 01:14:59,120
Speaker 6: that's when we're going to get out. That's when you

1517
01:14:59,160 --> 01:15:01,160
Speaker 6: get paid. And that's when the first guys get paid.

1518
01:15:01,320 --> 01:15:03,040
Speaker 6: And everybody throws a party.

1519
01:15:03,160 --> 01:15:06,400
Speaker 4: Everybody that's a big party. That's the that's the that's

1520
01:15:06,439 --> 01:15:06,840
Speaker 4: the play.

1521
01:15:06,920 --> 01:15:10,640
Speaker 3: That's the route shot, right, everybody, you gotta run a

1522
01:15:10,720 --> 01:15:14,240
Speaker 3: route and you just you just outlined your route. The

1523
01:15:14,240 --> 01:15:16,760
Speaker 3: worst case scenario use like ourself for a couple of

1524
01:15:16,800 --> 01:15:20,280
Speaker 3: million at the worst best case two point one billion.

1525
01:15:21,640 --> 01:15:24,000
Speaker 4: It's a good you know, it's a good sit You're

1526
01:15:24,000 --> 01:15:25,960
Speaker 4: going to be number seven. We put up an article

1527
01:15:25,960 --> 01:15:28,280
Speaker 4: it was like six black billionaires in the country. You're

1528
01:15:28,280 --> 01:15:29,080
Speaker 4: gonna be number seven.

1529
01:15:29,120 --> 01:15:30,560
Speaker 3: There it is, and we're gonna say, earn you a

1530
01:15:30,640 --> 01:15:33,920
Speaker 3: Lisha A first call man, it's been a pleasure speaking

1531
01:15:33,960 --> 01:15:36,360
Speaker 3: with you. Can you tell can you can you tell

1532
01:15:36,400 --> 01:15:39,200
Speaker 3: the people, uh you know, if they want to contact

1533
01:15:39,240 --> 01:15:41,760
Speaker 3: you or you know any uh you know, initiatives that

1534
01:15:41,800 --> 01:15:43,720
Speaker 3: you have going on stuff like that social media.

1535
01:15:43,800 --> 01:15:46,439
Speaker 6: Absolutely, So if I guess there's a few people that

1536
01:15:46,520 --> 01:15:48,800
Speaker 6: would like to reach out, Okay, So if if you're

1537
01:15:48,960 --> 01:15:53,760
Speaker 6: interested in and starting a healthcare especially a home care

1538
01:15:53,800 --> 01:15:57,559
Speaker 6: agency or or staffing firm, I'm doing a video series

1539
01:15:57,640 --> 01:16:01,120
Speaker 6: on my YouTube channel INTP Life. It's shot right here,

1540
01:16:01,720 --> 01:16:04,600
Speaker 6: so I'm going through a step by step how do

1541
01:16:04,640 --> 01:16:06,720
Speaker 6: you do that? So if you're interested in that, just

1542
01:16:06,760 --> 01:16:10,959
Speaker 6: follow me on EMTP life that's Echo November Tango, Papa

1543
01:16:11,040 --> 01:16:13,679
Speaker 6: Life e NTP Life.

1544
01:16:14,040 --> 01:16:16,439
Speaker 5: You'll find it guessing you guys will share a link,

1545
01:16:16,880 --> 01:16:19,360
Speaker 5: So that's for you guys.

1546
01:16:21,200 --> 01:16:24,040
Speaker 6: Like I said, if you're looking for consultations, it's going

1547
01:16:24,080 --> 01:16:26,960
Speaker 6: to cost you. So if you have any questions, the

1548
01:16:27,000 --> 01:16:28,880
Speaker 6: best thing to do is leave them in the comment sections.

1549
01:16:28,880 --> 01:16:30,960
Speaker 5: I can answer them for everybody. And that's why I'm

1550
01:16:30,960 --> 01:16:31,280
Speaker 5: doing it.

1551
01:16:31,280 --> 01:16:33,800
Speaker 6: It's like I get these questions and I can't keep

1552
01:16:34,000 --> 01:16:35,599
Speaker 6: losing time. That's why he was doing it for real

1553
01:16:35,680 --> 01:16:37,599
Speaker 6: estate too, It's like how do you flip a house?

1554
01:16:37,760 --> 01:16:37,840
Speaker 5: Like?

1555
01:16:37,880 --> 01:16:42,160
Speaker 6: Man, here's the video, Man, watch that and again it

1556
01:16:42,840 --> 01:16:48,200
Speaker 6: so for anybody who's interested, just watch. Leave your questions

1557
01:16:48,200 --> 01:16:50,760
Speaker 6: and comments. I answer them, and I'll answer them in

1558
01:16:50,760 --> 01:16:53,800
Speaker 6: the video. Sometimes I'll do lives with people. If they're

1559
01:16:53,800 --> 01:16:57,080
Speaker 6: acting a particular question, I say, if you can't pay

1560
01:16:57,120 --> 01:17:00,559
Speaker 6: the consultation fee, then let's create the content together. Share

1561
01:17:00,800 --> 01:17:03,080
Speaker 6: your questions and I will answer maybe other people's questions.

1562
01:17:03,080 --> 01:17:08,320
Speaker 6: So that's for them for people who are interested in

1563
01:17:09,400 --> 01:17:13,320
Speaker 6: I guess joining the team potentially, like, Hey, I'm interested

1564
01:17:13,320 --> 01:17:17,280
Speaker 6: in the story, I have this lovel expertise, and they

1565
01:17:17,400 --> 01:17:19,360
Speaker 6: kind of want to work with me in some way

1566
01:17:19,479 --> 01:17:22,160
Speaker 6: or they need software or anything like that. Just I

1567
01:17:22,160 --> 01:17:26,400
Speaker 6: guess go to aidbook dot com and use the contact form.

1568
01:17:26,840 --> 01:17:29,960
Speaker 6: So that's and I spelled it aid book with two

1569
01:17:29,960 --> 01:17:32,439
Speaker 6: a's in the front, just so it can sort higher

1570
01:17:32,479 --> 01:17:34,839
Speaker 6: on the list, right, so I will be the first,

1571
01:17:35,920 --> 01:17:40,160
Speaker 6: Like there's there's always directories of the providers in the state.

1572
01:17:41,200 --> 01:17:42,960
Speaker 5: So I was like, how do I be the first

1573
01:17:43,040 --> 01:17:44,679
Speaker 5: name on the list? I've got two a's in front

1574
01:17:44,680 --> 01:17:46,280
Speaker 5: of my day and I'm guaranteed to.

1575
01:17:46,720 --> 01:17:49,920
Speaker 6: Be on at least one of the first to get

1576
01:17:49,920 --> 01:17:52,720
Speaker 6: called if somebody's just randomly looking it up.

1577
01:17:52,760 --> 01:17:55,640
Speaker 5: So it's aid book with two a's, So a A

1578
01:17:56,200 --> 01:18:00,160
Speaker 5: I d e book dot com. There's a there's a

1579
01:18:00,200 --> 01:18:02,479
Speaker 5: contact forum. You could go there.

1580
01:18:03,160 --> 01:18:06,240
Speaker 6: I think the site should have been posted up yesterday,

1581
01:18:07,000 --> 01:18:09,800
Speaker 6: So depending on when you released this, we'll dictate you

1582
01:18:09,840 --> 01:18:10,880
Speaker 6: know what's going on there.

1583
01:18:10,920 --> 01:18:11,759
Speaker 5: But they could go there.

1584
01:18:12,840 --> 01:18:17,840
Speaker 6: And if there's any investor listening or watching this and

1585
01:18:17,880 --> 01:18:20,560
Speaker 6: you're curious to learn more.

1586
01:18:21,479 --> 01:18:24,000
Speaker 5: Than please reach out to me, let you know who

1587
01:18:24,040 --> 01:18:24,479
Speaker 5: you are.

1588
01:18:24,479 --> 01:18:26,520
Speaker 6: What you're looking for, and we could have a conversation

1589
01:18:26,600 --> 01:18:29,120
Speaker 6: about where ead book is going as a company and

1590
01:18:29,200 --> 01:18:31,639
Speaker 6: why I think it's a winner, and why you probably

1591
01:18:31,680 --> 01:18:35,040
Speaker 6: want to put some dolls behind this. At some point,

1592
01:18:35,320 --> 01:18:40,080
Speaker 6: like I guess in the next maybe six months, I'll

1593
01:18:40,120 --> 01:18:43,840
Speaker 6: probably be doing a fundraising round, so that would include

1594
01:18:43,880 --> 01:18:47,439
Speaker 6: friends and family, right because I'm allowed to raise from

1595
01:18:47,720 --> 01:18:51,639
Speaker 6: thirty five not accredited investors. So I'll do a friends

1596
01:18:51,640 --> 01:18:53,640
Speaker 6: and family round for people who are interested in that,

1597
01:18:55,160 --> 01:18:59,200
Speaker 6: and then probably raising anywhere from one to three million

1598
01:18:59,439 --> 01:19:01,880
Speaker 6: for the for that first, for that first, not to

1599
01:19:02,080 --> 01:19:05,559
Speaker 6: prove the concept in Florida. So if you guys are

1600
01:19:05,560 --> 01:19:07,679
Speaker 6: interested in that and want to kind of know when

1601
01:19:07,720 --> 01:19:10,080
Speaker 6: that is happening, then just reach out and we can

1602
01:19:10,320 --> 01:19:12,479
Speaker 6: continue to to.

1603
01:19:12,439 --> 01:19:16,600
Speaker 4: Talk about it, all right, Troy Man, shout out to everybody,

1604
01:19:16,600 --> 01:19:18,840
Speaker 4: big shout out to everybody on patreon dot com. That

1605
01:19:19,040 --> 01:19:21,640
Speaker 4: is our product paid program. As you know, we have

1606
01:19:21,680 --> 01:19:23,200
Speaker 4: five different tiers. I want to give a big shout

1607
01:19:23,240 --> 01:19:25,760
Speaker 4: out to my man Dave. We had a great conversation.

1608
01:19:25,880 --> 01:19:26,000
Speaker 1: Man.

1609
01:19:26,040 --> 01:19:28,160
Speaker 4: He's looking to help us out. He's a Tier five member,

1610
01:19:28,240 --> 01:19:31,240
Speaker 4: so we called him and we had an amazing conversation.

1611
01:19:31,320 --> 01:19:33,639
Speaker 4: Like I said, and Rosetta who just joined that TIF

1612
01:19:34,040 --> 01:19:36,559
Speaker 4: looking forward to talking to her. And as you know,

1613
01:19:36,680 --> 01:19:39,680
Speaker 4: Tier four and five members, you have access to e

1614
01:19:40,000 --> 01:19:42,760
Speaker 4: y L University and ey L University has been on

1615
01:19:42,800 --> 01:19:45,599
Speaker 4: fire man. We have been adding so much content. We've

1616
01:19:45,640 --> 01:19:49,639
Speaker 4: been doing YouTube lives exclusive things. Man, So if you're

1617
01:19:49,680 --> 01:19:52,720
Speaker 4: on there, thank you, and we appreciate your support. And

1618
01:19:52,760 --> 01:19:56,400
Speaker 4: everybody that's been supporting on the merch, we appreciate that.

1619
01:19:56,439 --> 01:20:00,760
Speaker 4: On Elisha dot com and everybody that has joined our

1620
01:20:00,800 --> 01:20:03,320
Speaker 4: real estate our private real estate group. Man, that is

1621
01:20:03,360 --> 01:20:05,320
Speaker 4: going crazy right now. Shout out to MG, the mortgage

1622
01:20:05,360 --> 01:20:08,080
Speaker 4: god brother who's been running that for us. Man, it's

1623
01:20:08,120 --> 01:20:11,200
Speaker 4: been going crazy. So everybody that's just supporting during these times,

1624
01:20:11,720 --> 01:20:12,880
Speaker 4: we really appreciate y'all.

1625
01:20:13,000 --> 01:20:16,439
Speaker 3: Yeah, the merch, the merch is out. We're gonna add

1626
01:20:16,439 --> 01:20:18,800
Speaker 3: more hoodies. This is exclusive with me and Troy got

1627
01:20:18,960 --> 01:20:20,600
Speaker 3: right now, but we're gonna add more hoodies to the

1628
01:20:20,600 --> 01:20:23,519
Speaker 3: collection for the spring. And yeah, everybody, stay safe first

1629
01:20:23,560 --> 01:20:26,559
Speaker 3: and foremost, and stay encouraged, stay positive. It's difficult times

1630
01:20:26,640 --> 01:20:28,680
Speaker 3: right now for a lot of people, but you know,

1631
01:20:28,840 --> 01:20:31,240
Speaker 3: this is a time to educate yourself and use use

1632
01:20:31,280 --> 01:20:34,840
Speaker 3: your quarantine time wisely, because at some point, you know,

1633
01:20:34,920 --> 01:20:37,719
Speaker 3: God willing, will be able to get back to businesses normal.

1634
01:20:37,800 --> 01:20:39,880
Speaker 3: But you know, what you have learned and what you

1635
01:20:40,160 --> 01:20:42,040
Speaker 3: applied from what you learned during this time will be

1636
01:20:42,120 --> 01:20:42,759
Speaker 3: very important.

1637
01:20:43,000 --> 01:20:44,640
Speaker 4: And Eyo University.

1638
01:20:45,680 --> 01:20:48,439
Speaker 3: Is Yeah, it's something that we're excited about, and we

1639
01:20:48,520 --> 01:20:50,559
Speaker 3: really ramped that up in the last couple of weeks.

1640
01:20:50,560 --> 01:20:53,400
Speaker 3: We got a private Facebook group for real estate headed

1641
01:20:53,400 --> 01:20:56,960
Speaker 3: by MG the Mortgage Guy, and yeah, just eyol University

1642
01:20:57,000 --> 01:20:57,400
Speaker 3: dot com.

1643
01:20:57,439 --> 01:20:59,040
Speaker 4: You can go there and all the information is there.

1644
01:20:59,280 --> 01:21:01,680
Speaker 4: A big, big shout to everybody that's been tuning to

1645
01:21:01,760 --> 01:21:03,880
Speaker 4: our catalog of episodes. I see a lot of people

1646
01:21:03,960 --> 01:21:05,880
Speaker 4: posting since they have a lot of time now that

1647
01:21:05,920 --> 01:21:08,639
Speaker 4: they're home, they've been listening to the back episodes they've

1648
01:21:08,640 --> 01:21:12,040
Speaker 4: been watching on YouTube. Shout everybody that's on YouTube. We

1649
01:21:12,080 --> 01:21:14,519
Speaker 4: appreciate it. Man. Like we said, use the tom wisely.

1650
01:21:14,600 --> 01:21:16,680
Speaker 4: It's a great time to learn, it's a great time

1651
01:21:16,680 --> 01:21:17,360
Speaker 4: to educate yourself.

1652
01:21:17,439 --> 01:21:20,120
Speaker 3: Yeah, and YouTube, shout out to YouTube. We're doing two

1653
01:21:20,280 --> 01:21:25,120
Speaker 3: webinars every week now on Monday and Thursday. And yeah,

1654
01:21:25,160 --> 01:21:30,280
Speaker 3: that's been really exciting live live YouTube webinars. So the

1655
01:21:30,320 --> 01:21:35,000
Speaker 3: book tip of this week is Crucial Conversations, recommended by

1656
01:21:35,080 --> 01:21:38,960
Speaker 3: call so Yes once again, Gos, thanks for rocking with us.

1657
01:21:39,000 --> 01:21:41,800
Speaker 3: Be safe out there. We'll see you next week. Peace Peace.

1658
01:21:42,920 --> 01:21:46,800
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