{"version":"1.0.0","segments":[{"speaker":"Aaron Moncur","startTime":14.0,"endTime":17.09,"body":"Hello and welcome"},{"speaker":"Aaron Moncur","startTime":14.0,"endTime":17.09,"body":"to the Being An Engineer podcast."},{"speaker":"Aaron Moncur","startTime":17.09,"endTime":23.33,"body":"Today's guest is Jason Wally,"},{"speaker":"Aaron Moncur","startTime":17.09,"endTime":23.33,"body":"Waldron, founder and CEO of Axiology."},{"speaker":"Aaron Moncur","startTime":23.75,"endTime":28.61,"body":"Wally helps custom manufacturers and"},{"speaker":"Aaron Moncur","startTime":23.75,"endTime":28.61,"body":"industrial service companies grow up to"},{"speaker":"Aaron Moncur","startTime":28.61,"endTime":34.22,"body":"33% annually, add 10 million or more to"},{"speaker":"Aaron Moncur","startTime":28.61,"endTime":34.22,"body":"their business value and exit on their"},{"speaker":"Aaron Moncur","startTime":34.22,"endTime":37.07,"body":"own terms in as little as three years."},{"speaker":"Aaron Moncur","startTime":37.1,"endTime":39.5,"body":"He's also the author of Ology."},{"speaker":"Aaron Moncur","startTime":39.56,"endTime":41.81,"body":"Unlock Your Profits,"},{"speaker":"Aaron Moncur","startTime":39.56,"endTime":41.81,"body":"unlock Your Potential."},{"speaker":"Aaron Moncur","startTime":42.45,"endTime":46.56,"body":"And joins us to share his insights on"},{"speaker":"Aaron Moncur","startTime":42.45,"endTime":46.56,"body":"building legacy, freedom, and massive"},{"speaker":"Aaron Moncur","startTime":46.59,"endTime":49.62,"body":"value into engineering driven businesses."},{"speaker":"Aaron Moncur","startTime":49.62,"endTime":51.84,"body":"Wally, thank you so much"},{"speaker":"Aaron Moncur","startTime":49.62,"endTime":51.84,"body":"for being with us today."},{"speaker":"Wally Waldron","startTime":52.37,"endTime":53.96,"body":"Aaron,"},{"speaker":"Wally Waldron","startTime":52.37,"endTime":53.96,"body":"thank you for having me."},{"speaker":"Aaron Moncur","startTime":54.41,"endTime":55.28,"body":"You are so welcome."},{"speaker":"Aaron Moncur","startTime":55.28,"endTime":59.9,"body":"So I've, as I was telling you before we"},{"speaker":"Aaron Moncur","startTime":55.28,"endTime":59.9,"body":"started recording here, I've been excited"},{"speaker":"Aaron Moncur","startTime":59.9,"endTime":65.63,"body":"to talk to you because I own an industrial"},{"speaker":"Aaron Moncur","startTime":59.9,"endTime":65.63,"body":"service business and while I have"},{"speaker":"Aaron Moncur","startTime":65.63,"endTime":67.22,"body":"never seriously considered selling it."},{"speaker":"Aaron Moncur","startTime":67.73,"endTime":69.44,"body":"Who knows what the future holds, right?"},{"speaker":"Aaron Moncur","startTime":69.44,"endTime":72.83,"body":"10 years from now, 15 years from"},{"speaker":"Aaron Moncur","startTime":69.44,"endTime":72.83,"body":"now, maybe I'll be ready to do that."},{"speaker":"Aaron Moncur","startTime":73.16,"endTime":78.5,"body":"And so it would be probably wise of me"},{"speaker":"Aaron Moncur","startTime":73.16,"endTime":78.5,"body":"to get some best practices under my belt"},{"speaker":"Aaron Moncur","startTime":78.5,"endTime":81.38,"body":"now so that I have options in the future."},{"speaker":"Aaron Moncur","startTime":81.65,"endTime":85.25,"body":"And I imagine there are plenty of"},{"speaker":"Aaron Moncur","startTime":81.65,"endTime":85.25,"body":"other listeners who are listening to"},{"speaker":"Aaron Moncur","startTime":85.25,"endTime":90.05,"body":"this episode right now who are in the"},{"speaker":"Aaron Moncur","startTime":85.25,"endTime":90.05,"body":"same boat now, or maybe in the same."},{"speaker":"Aaron Moncur","startTime":90.095,"endTime":91.985,"body":"Boat in the not too distant future."},{"speaker":"Aaron Moncur","startTime":91.985,"endTime":95.855,"body":"So, uh, I'm super excited to talk"},{"speaker":"Aaron Moncur","startTime":91.985,"endTime":95.855,"body":"with you about this and, and, uh,"},{"speaker":"Aaron Moncur","startTime":95.885,"endTime":99.875,"body":"learn about exits for manufacturing"},{"speaker":"Aaron Moncur","startTime":95.885,"endTime":99.875,"body":"and engineering businesses."},{"speaker":"Wally Waldron","startTime":100.52,"endTime":102.2,"body":"No, I, I"},{"speaker":"Wally Waldron","startTime":100.52,"endTime":102.2,"body":"think that's outstanding."},{"speaker":"Wally Waldron","startTime":102.2,"endTime":106.67,"body":"And, um, you know, I'm, I'm thrilled"},{"speaker":"Wally Waldron","startTime":102.2,"endTime":106.67,"body":"to be here and I'm, I'm a student"},{"speaker":"Wally Waldron","startTime":106.67,"endTime":110.51,"body":"of the game, and as I shared with"},{"speaker":"Wally Waldron","startTime":106.67,"endTime":110.51,"body":"you, uh, while we were, uh, doing"},{"speaker":"Wally Waldron","startTime":110.54,"endTime":113.87,"body":"our sound check and everything, I'm,"},{"speaker":"Wally Waldron","startTime":110.54,"endTime":113.87,"body":"I'm gonna treat you like you're."},{"speaker":"Wally Waldron","startTime":113.925,"endTime":115.395,"body":"My highest paying customer."},{"speaker":"Wally Waldron","startTime":115.395,"endTime":119.535,"body":"So ask every question under the sun,"},{"speaker":"Wally Waldron","startTime":115.395,"endTime":119.535,"body":"whether selfishly or for, for some"},{"speaker":"Wally Waldron","startTime":119.535,"endTime":124.005,"body":"of the folks listening, and I will"},{"speaker":"Wally Waldron","startTime":119.535,"endTime":124.005,"body":"do my best to answer, uh, with, with"},{"speaker":"Wally Waldron","startTime":124.005,"endTime":127.695,"body":"antidotes stories, best practices,"},{"speaker":"Wally Waldron","startTime":124.005,"endTime":127.695,"body":"and whatever wisdom I can share today."},{"speaker":"Aaron Moncur","startTime":128.28,"endTime":128.94,"body":"Terrific."},{"speaker":"Aaron Moncur","startTime":128.97,"endTime":129.93,"body":"Thank you so much."},{"speaker":"Aaron Moncur","startTime":130.35,"endTime":133.83,"body":"Okay, so first question is, how"},{"speaker":"Aaron Moncur","startTime":130.35,"endTime":133.83,"body":"did you start this, uh, ology?"},{"speaker":"Aaron Moncur","startTime":133.83,"endTime":134.595,"body":"Where, where did it come from?"},{"speaker":"Wally Waldron","startTime":135.47,"endTime":135.86,"body":"Yeah."},{"speaker":"Wally Waldron","startTime":135.86,"endTime":141.17,"body":"So, um, the, the way that I like to"},{"speaker":"Wally Waldron","startTime":135.86,"endTime":141.17,"body":"answer that is ology in its current form"},{"speaker":"Wally Waldron","startTime":141.17,"endTime":146.36,"body":"is seven pi pivots and a couple close"},{"speaker":"Wally Waldron","startTime":141.17,"endTime":146.36,"body":"calls, uh, almost going outta business"},{"speaker":"Wally Waldron","startTime":146.36,"endTime":148.07,"body":"into, to what you see here today."},{"speaker":"Wally Waldron","startTime":148.07,"endTime":151.32,"body":"And, um, you know, like, like"},{"speaker":"Wally Waldron","startTime":148.07,"endTime":151.32,"body":"a lot of entrepreneurs, I, I"},{"speaker":"Wally Waldron","startTime":151.32,"endTime":154.425,"body":"had the entrepreneurial seizure"},{"speaker":"Wally Waldron","startTime":151.32,"endTime":154.425,"body":"fairly early on in my career."},{"speaker":"Wally Waldron","startTime":154.82,"endTime":159.05,"body":"Um, I was working at an accounting"},{"speaker":"Wally Waldron","startTime":154.82,"endTime":159.05,"body":"firm that had all of the different,"},{"speaker":"Wally Waldron","startTime":159.05,"endTime":162.2,"body":"uh, uh, disciplines under one roof."},{"speaker":"Wally Waldron","startTime":162.5,"endTime":163.25,"body":"And I was bored."},{"speaker":"Wally Waldron","startTime":163.52,"endTime":164.54,"body":"I was bored outta my mind."},{"speaker":"Wally Waldron","startTime":164.54,"endTime":169.97,"body":"I was sitting there in the summer of"},{"speaker":"Wally Waldron","startTime":164.54,"endTime":169.97,"body":"2003 doing, uh, you know, uh, upgrades"},{"speaker":"Wally Waldron","startTime":169.97,"endTime":174.02,"body":"of IT systems and, you know, the"},{"speaker":"Wally Waldron","startTime":169.97,"endTime":174.02,"body":"most important, uh, and interesting"},{"speaker":"Wally Waldron","startTime":174.02,"endTime":176.78,"body":"part of my night was making black"},{"speaker":"Wally Waldron","startTime":174.02,"endTime":176.78,"body":"coffee and talking to the janitor."},{"speaker":"Wally Waldron","startTime":176.78,"endTime":180.38,"body":"Not any of my, my day job, which"},{"speaker":"Wally Waldron","startTime":176.78,"endTime":180.38,"body":"somehow was at night at that point."},{"speaker":"Wally Waldron","startTime":180.38,"endTime":183.38,"body":"But the, uh, know, I was sitting"},{"speaker":"Wally Waldron","startTime":180.38,"endTime":183.38,"body":"there thinking, man, there's gotta be"},{"speaker":"Wally Waldron","startTime":183.38,"endTime":185.45,"body":"something else to this, this career path."},{"speaker":"Wally Waldron","startTime":185.45,"endTime":188.15,"body":"And so I was, I was in my"},{"speaker":"Wally Waldron","startTime":185.45,"endTime":188.15,"body":"early twenties and, um."},{"speaker":"Wally Waldron","startTime":188.615,"endTime":191.915,"body":"So I started to get curious about,"},{"speaker":"Wally Waldron","startTime":188.615,"endTime":191.915,"body":"you know, what, what was possible"},{"speaker":"Wally Waldron","startTime":191.915,"endTime":196.835,"body":"with this, uh, career path ahead"},{"speaker":"Wally Waldron","startTime":191.915,"endTime":196.835,"body":"of me and I, I started to, uh, look"},{"speaker":"Wally Waldron","startTime":196.835,"endTime":199.955,"body":"around and got creative about it,"},{"speaker":"Wally Waldron","startTime":196.835,"endTime":199.955,"body":"and I started a business called"},{"speaker":"Wally Waldron","startTime":199.955,"endTime":201.635,"body":"Albin Tech Technology Solutions."},{"speaker":"Wally Waldron","startTime":202.025,"endTime":205.475,"body":"And my first client was a"},{"speaker":"Wally Waldron","startTime":202.025,"endTime":205.475,"body":"startup ski manufacturer."},{"speaker":"Wally Waldron","startTime":206.105,"endTime":208.205,"body":"Who was pressing skis out of his garage."},{"speaker":"Wally Waldron","startTime":208.265,"endTime":212.135,"body":"And I looked at him and I said, I'm pretty"},{"speaker":"Wally Waldron","startTime":208.265,"endTime":212.135,"body":"sure you just, uh, raised some capital"},{"speaker":"Wally Waldron","startTime":212.135,"endTime":215.525,"body":"from that guy up the road there and"},{"speaker":"Wally Waldron","startTime":212.135,"endTime":215.525,"body":"that you don't have a business entity."},{"speaker":"Wally Waldron","startTime":215.885,"endTime":217.115,"body":"I think that's illegal."},{"speaker":"Wally Waldron","startTime":217.595,"endTime":218.435,"body":"I'm bored."},{"speaker":"Wally Waldron","startTime":218.555,"endTime":219.875,"body":"You are starting a company."},{"speaker":"Wally Waldron","startTime":219.965,"endTime":221.195,"body":"I work at an accounting firm."},{"speaker":"Wally Waldron","startTime":221.255,"endTime":222.965,"body":"Let's see if we can"},{"speaker":"Wally Waldron","startTime":221.255,"endTime":222.965,"body":"help you make this a go."},{"speaker":"Wally Waldron","startTime":223.055,"endTime":230.165,"body":"And was the, uh, beginnings of what"},{"speaker":"Wally Waldron","startTime":223.055,"endTime":230.165,"body":"became ology, uh, nearly 25 years later."},{"speaker":"Aaron Moncur","startTime":230.56,"endTime":231.94,"body":"Wow, 25 years."},{"speaker":"Aaron Moncur","startTime":231.94,"endTime":232.99,"body":"Congratulations."},{"speaker":"Wally Waldron","startTime":233.255,"endTime":233.435,"body":"you."},{"speaker":"Wally Waldron","startTime":233.615,"endTime":234.005,"body":"Thank you."},{"speaker":"Aaron Moncur","startTime":235.9,"endTime":239.5,"body":"Your first"},{"speaker":"Aaron Moncur","startTime":235.9,"endTime":239.5,"body":"customer was a ski manufacturer."},{"speaker":"Aaron Moncur","startTime":239.98,"endTime":241.96,"body":"Uh, that's of course just one data point."},{"speaker":"Aaron Moncur","startTime":241.96,"endTime":245.71,"body":"How did you get into this"},{"speaker":"Aaron Moncur","startTime":241.96,"endTime":245.71,"body":"niche of manufacturing and"},{"speaker":"Aaron Moncur","startTime":245.71,"endTime":246.94,"body":"industrial service companies?"},{"speaker":"Wally Waldron","startTime":248.0,"endTime":251.465,"body":"You know, um, I."},{"speaker":"Wally Waldron","startTime":248.0,"endTime":251.465,"body":"I, I don't know if I meant to."},{"speaker":"Wally Waldron","startTime":251.735,"endTime":257.885,"body":"Um, to be totally honest with you, looking"},{"speaker":"Wally Waldron","startTime":251.735,"endTime":257.885,"body":"back every few years, uh, we go through"},{"speaker":"Wally Waldron","startTime":257.885,"endTime":262.145,"body":"a process and that is we, we do a look"},{"speaker":"Wally Waldron","startTime":257.885,"endTime":262.145,"body":"back, look forward analysis, right?"},{"speaker":"Wally Waldron","startTime":262.145,"endTime":263.675,"body":"And look back is real simple."},{"speaker":"Wally Waldron","startTime":263.705,"endTime":265.295,"body":"What worked, what didn't worked?"},{"speaker":"Wally Waldron","startTime":265.595,"endTime":268.71,"body":"What do we think we want to keep and"},{"speaker":"Wally Waldron","startTime":265.595,"endTime":268.71,"body":"move forward with and look forward is."},{"speaker":"Wally Waldron","startTime":269.705,"endTime":272.645,"body":"on what was working and what we"},{"speaker":"Wally Waldron","startTime":269.705,"endTime":272.645,"body":"think is going to keep working,"},{"speaker":"Wally Waldron","startTime":272.705,"endTime":275.585,"body":"where do we think the winds are"},{"speaker":"Wally Waldron","startTime":272.705,"endTime":275.585,"body":"blowing and how can we add value?"},{"speaker":"Wally Waldron","startTime":276.485,"endTime":281.225,"body":"for whatever reason, over the course of,"},{"speaker":"Wally Waldron","startTime":276.485,"endTime":281.225,"body":"uh, of my career, whether it was just"},{"speaker":"Wally Waldron","startTime":281.225,"endTime":287.255,"body":"understanding, uh, what an engineer is"},{"speaker":"Wally Waldron","startTime":281.225,"endTime":287.255,"body":"up against or just, you know, uh, our,"},{"speaker":"Wally Waldron","startTime":287.345,"endTime":291.815,"body":"our methodologies being very good for"},{"speaker":"Wally Waldron","startTime":287.345,"endTime":291.815,"body":"those types of people, or maybe just."},{"speaker":"Wally Waldron","startTime":292.175,"endTime":293.195,"body":"Pure luck."},{"speaker":"Wally Waldron","startTime":293.195,"endTime":294.245,"body":"I really don't know."},{"speaker":"Wally Waldron","startTime":294.725,"endTime":299.615,"body":"Our methodologies have lined up the"},{"speaker":"Wally Waldron","startTime":294.725,"endTime":299.615,"body":"best with folks who are very, very good"},{"speaker":"Wally Waldron","startTime":299.615,"endTime":305.255,"body":"at creating, uh, products, creating"},{"speaker":"Wally Waldron","startTime":299.615,"endTime":305.255,"body":"innovative solutions, and frankly,"},{"speaker":"Wally Waldron","startTime":305.255,"endTime":309.725,"body":"are people who are a lot smarter"},{"speaker":"Wally Waldron","startTime":305.255,"endTime":309.725,"body":"than I am and helping put a business"},{"speaker":"Wally Waldron","startTime":309.725,"endTime":313.385,"body":"wrapper around what they're doing"},{"speaker":"Wally Waldron","startTime":309.725,"endTime":313.385,"body":"and so they can do what they do best."},{"speaker":"Aaron Moncur","startTime":314.625,"endTime":314.985,"body":"All right."},{"speaker":"Aaron Moncur","startTime":314.985,"endTime":319.455,"body":"Well, this podcast is specifically"},{"speaker":"Aaron Moncur","startTime":314.985,"endTime":319.455,"body":"focused on engineers and"},{"speaker":"Aaron Moncur","startTime":319.455,"endTime":321.165,"body":"manufacturing pro professionals."},{"speaker":"Aaron Moncur","startTime":321.165,"endTime":323.085,"body":"So let's, let's talk about"},{"speaker":"Aaron Moncur","startTime":321.165,"endTime":323.085,"body":"engineers a little bit."},{"speaker":"Wally Waldron","startTime":323.195,"endTime":323.495,"body":"Mm-hmm."},{"speaker":"Aaron Moncur","startTime":323.625,"endTime":326.715,"body":"Do you think that the"},{"speaker":"Aaron Moncur","startTime":323.625,"endTime":326.715,"body":"engineering mindset, this, you know,"},{"speaker":"Aaron Moncur","startTime":326.715,"endTime":332.355,"body":"very analytical, logic based mindset,"},{"speaker":"Aaron Moncur","startTime":326.715,"endTime":332.355,"body":"do you think it helps or, or hinders"},{"speaker":"Aaron Moncur","startTime":332.655,"endTime":338.05,"body":"the process of scaling and exiting an"},{"speaker":"Aaron Moncur","startTime":332.655,"endTime":338.05,"body":"engineering slash manufacturing company?"},{"speaker":"Wally Waldron","startTime":339.215,"endTime":341.345,"body":"Yeah, so we."},{"speaker":"Wally Waldron","startTime":341.705,"endTime":346.445,"body":"When you sent over that question,"},{"speaker":"Wally Waldron","startTime":341.705,"endTime":346.445,"body":"just had to smile and chuckle because,"},{"speaker":"Wally Waldron","startTime":346.805,"endTime":349.925,"body":"you know, let, let's, let's skin"},{"speaker":"Wally Waldron","startTime":346.805,"endTime":349.925,"body":"the onion a few layers at a time."},{"speaker":"Wally Waldron","startTime":349.925,"endTime":350.285,"body":"Right."},{"speaker":"Wally Waldron","startTime":350.675,"endTime":352.985,"body":"So we, we'll start with the real answer."},{"speaker":"Wally Waldron","startTime":353.255,"endTime":354.785,"body":"It depends, right?"},{"speaker":"Wally Waldron","startTime":354.785,"endTime":355.985,"body":"That's the real answer here."},{"speaker":"Wally Waldron","startTime":355.985,"endTime":359.945,"body":"But, but I, I go back and"},{"speaker":"Wally Waldron","startTime":355.985,"endTime":359.945,"body":"think of a place here."},{"speaker":"Wally Waldron","startTime":360.095,"endTime":363.815,"body":"Um, I'm, I'm based in Evergreen,"},{"speaker":"Wally Waldron","startTime":360.095,"endTime":363.815,"body":"Colorado, which is just outside of Denver."},{"speaker":"Wally Waldron","startTime":363.965,"endTime":368.135,"body":"And if you drive west of Denver on your"},{"speaker":"Wally Waldron","startTime":363.965,"endTime":368.135,"body":"way to Vail, you will pass through."},{"speaker":"Wally Waldron","startTime":369.005,"endTime":370.865,"body":"A, uh, small town."},{"speaker":"Wally Waldron","startTime":371.075,"endTime":372.935,"body":"It's called Idaho Springs Colorado."},{"speaker":"Wally Waldron","startTime":373.235,"endTime":380.495,"body":"And Idaho Springs, Colorado is where"},{"speaker":"Wally Waldron","startTime":373.235,"endTime":380.495,"body":"the gold rush began in 1859 Colorado."},{"speaker":"Wally Waldron","startTime":381.335,"endTime":386.315,"body":"what happened was over a very short"},{"speaker":"Wally Waldron","startTime":381.335,"endTime":386.315,"body":"period of time, out of nowhere, a"},{"speaker":"Wally Waldron","startTime":387.425,"endTime":391.835,"body":"entire town that is still here today"},{"speaker":"Wally Waldron","startTime":387.425,"endTime":391.835,"body":"was created out of nothing because hey,"},{"speaker":"Wally Waldron","startTime":391.835,"endTime":395.675,"body":"there's golden them hills, and here comes"},{"speaker":"Wally Waldron","startTime":391.835,"endTime":395.675,"body":"everybody looking for some gold, right?"},{"speaker":"Wally Waldron","startTime":396.32,"endTime":401.78,"body":"Well, on one of those hills,"},{"speaker":"Wally Waldron","startTime":396.32,"endTime":401.78,"body":"108 gold mines were created."},{"speaker":"Wally Waldron","startTime":402.17,"endTime":404.18,"body":"You know, and we all know"},{"speaker":"Wally Waldron","startTime":402.17,"endTime":404.18,"body":"what a gold mine is, right?"},{"speaker":"Wally Waldron","startTime":404.18,"endTime":406.79,"body":"You just keep pounding three"},{"speaker":"Wally Waldron","startTime":404.18,"endTime":406.79,"body":"more feet of gold, three more"},{"speaker":"Wally Waldron","startTime":406.79,"endTime":408.41,"body":"feet, and get we'll get the gold."},{"speaker":"Wally Waldron","startTime":408.44,"endTime":409.1,"body":"We'll get the gold."},{"speaker":"Wally Waldron","startTime":409.28,"endTime":413.21,"body":"And what happened was they"},{"speaker":"Wally Waldron","startTime":409.28,"endTime":413.21,"body":"started to flood and, and you"},{"speaker":"Wally Waldron","startTime":413.21,"endTime":414.62,"body":"know, no, nobody knows why."},{"speaker":"Wally Waldron","startTime":414.65,"endTime":415.58,"body":"Just nature."},{"speaker":"Wally Waldron","startTime":415.85,"endTime":420.05,"body":"And somebody zoomed out one day and"},{"speaker":"Wally Waldron","startTime":415.85,"endTime":420.05,"body":"said, you know, this, this whole"},{"speaker":"Wally Waldron","startTime":420.05,"endTime":421.28,"body":"mining business is pretty tough."},{"speaker":"Wally Waldron","startTime":422.015,"endTime":427.775,"body":"What if we put a single drainage ditch a"},{"speaker":"Wally Waldron","startTime":422.015,"endTime":427.775,"body":"tunnel from Central City down into Hido"},{"speaker":"Wally Waldron","startTime":427.775,"endTime":432.215,"body":"Springs and I drained 108 gold mines,"},{"speaker":"Wally Waldron","startTime":427.775,"endTime":432.215,"body":"and I promise you this is coming back"},{"speaker":"Wally Waldron","startTime":432.215,"endTime":436.505,"body":"to answering your question, what what"},{"speaker":"Wally Waldron","startTime":432.215,"endTime":436.505,"body":"that created was something that was"},{"speaker":"Wally Waldron","startTime":436.505,"endTime":439.085,"body":"both strategic end of lasting value."},{"speaker":"Wally Waldron","startTime":439.415,"endTime":440.495,"body":"108 gold mines."},{"speaker":"Wally Waldron","startTime":440.495,"endTime":444.035,"body":"Were then sending their material down"},{"speaker":"Wally Waldron","startTime":440.495,"endTime":444.035,"body":"a single source tunnel to the end of."},{"speaker":"Wally Waldron","startTime":444.53,"endTime":449.27,"body":"Of this, uh, area, they built"},{"speaker":"Wally Waldron","startTime":444.53,"endTime":449.27,"body":"the, what is the Argo Gold Mill?"},{"speaker":"Wally Waldron","startTime":449.9,"endTime":454.88,"body":"There is still to this day, a giant"},{"speaker":"Wally Waldron","startTime":449.9,"endTime":454.88,"body":"gold mill sitting there on the top"},{"speaker":"Wally Waldron","startTime":455.0,"endTime":458.51,"body":"on, on the side of this mountain is"},{"speaker":"Wally Waldron","startTime":455.0,"endTime":458.51,"body":"being used for tours now is still"},{"speaker":"Wally Waldron","startTime":458.51,"endTime":463.28,"body":"creating value for the same place"},{"speaker":"Wally Waldron","startTime":458.51,"endTime":463.28,"body":"that it was built over 150 years ago."},{"speaker":"Wally Waldron","startTime":463.28,"endTime":463.61,"body":"Right?"},{"speaker":"Wally Waldron","startTime":464.03,"endTime":468.5,"body":"And the most important and interesting"},{"speaker":"Wally Waldron","startTime":464.03,"endTime":468.5,"body":"thing is that all that gold, which"},{"speaker":"Wally Waldron","startTime":468.5,"endTime":471.23,"body":"was more valuable once it was"},{"speaker":"Wally Waldron","startTime":468.5,"endTime":471.23,"body":"milled into something and put on"},{"speaker":"Wally Waldron","startTime":471.23,"endTime":472.67,"body":"a train, sent down the stream."},{"speaker":"Wally Waldron","startTime":472.88,"endTime":479.15,"body":"It provided the impetus for Denver, the"},{"speaker":"Wally Waldron","startTime":472.88,"endTime":479.15,"body":"Denver Mint, and all of these things"},{"speaker":"Wally Waldron","startTime":479.15,"endTime":481.58,"body":"that still are part of our society today."},{"speaker":"Aaron Moncur","startTime":481.595,"endTime":481.715,"body":"Hmm."},{"speaker":"Wally Waldron","startTime":482.33,"endTime":486.23,"body":"And so to answer your"},{"speaker":"Wally Waldron","startTime":482.33,"endTime":486.23,"body":"question, going back to it depends."},{"speaker":"Wally Waldron","startTime":486.62,"endTime":490.73,"body":"What I always invite people to think"},{"speaker":"Wally Waldron","startTime":486.62,"endTime":490.73,"body":"of is, are you that gold miner?"},{"speaker":"Wally Waldron","startTime":490.76,"endTime":494.18,"body":"Are you just pounding for three more"},{"speaker":"Wally Waldron","startTime":490.76,"endTime":494.18,"body":"feet of gold, hoping for the best?"},{"speaker":"Wally Waldron","startTime":494.45,"endTime":497.72,"body":"Or are you taking a pause and"},{"speaker":"Wally Waldron","startTime":494.45,"endTime":497.72,"body":"zooming out to 30,000 feet and"},{"speaker":"Wally Waldron","startTime":497.72,"endTime":499.31,"body":"looking to be the Golden Miller?"},{"speaker":"Wally Waldron","startTime":500.075,"endTime":501.695,"body":"other words, are you"},{"speaker":"Wally Waldron","startTime":500.075,"endTime":501.695,"body":"thinking strategically?"},{"speaker":"Wally Waldron","startTime":501.965,"endTime":502.88,"body":"Are you thinking like an"},{"speaker":"Aaron Moncur","startTime":505.22,"endTime":506.32,"body":"That's a great distinction."},{"speaker":"Aaron Moncur","startTime":506.32,"endTime":506.76,"body":"I love that."},{"speaker":"Aaron Moncur","startTime":507.455,"endTime":507.935,"body":"Um."},{"speaker":"Aaron Moncur","startTime":510.965,"endTime":514.175,"body":"I know that I, I have this."},{"speaker":"Aaron Moncur","startTime":514.655,"endTime":520.025,"body":"Sense, uh, based on mostly my own"},{"speaker":"Aaron Moncur","startTime":514.655,"endTime":520.025,"body":"experience that engineers can make"},{"speaker":"Aaron Moncur","startTime":520.055,"endTime":523.895,"body":"very good business owners because they"},{"speaker":"Aaron Moncur","startTime":520.055,"endTime":523.895,"body":"understand math, they understand numbers"},{"speaker":"Aaron Moncur","startTime":523.985,"endTime":526.655,"body":"and businesses, uh, not entirely."},{"speaker":"Aaron Moncur","startTime":526.655,"endTime":531.125,"body":"Of course, there's absolutely a"},{"speaker":"Aaron Moncur","startTime":526.655,"endTime":531.125,"body":"human element to it, but there's also"},{"speaker":"Aaron Moncur","startTime":531.125,"endTime":535.535,"body":"very much a, a numerical element to"},{"speaker":"Aaron Moncur","startTime":531.125,"endTime":535.535,"body":"running a, a successful business."},{"speaker":"Aaron Moncur","startTime":535.54,"endTime":535.75,"body":"Um."},{"speaker":"Aaron Moncur","startTime":536.4,"endTime":540.78,"body":"I think that engineers have an edge"},{"speaker":"Aaron Moncur","startTime":536.4,"endTime":540.78,"body":"in, in that area, but, but clearly"},{"speaker":"Aaron Moncur","startTime":541.02,"endTime":543.27,"body":"engineers are, are not quite perfect."},{"speaker":"Aaron Moncur","startTime":543.27,"endTime":546.0,"body":"We're pretty close as far as"},{"speaker":"Aaron Moncur","startTime":543.27,"endTime":546.0,"body":"humanity goes, but not quite."},{"speaker":"Aaron Moncur","startTime":546.42,"endTime":550.74,"body":"What, what are some of the mistakes that"},{"speaker":"Aaron Moncur","startTime":546.42,"endTime":550.74,"body":"you see technical founders making when,"},{"speaker":"Aaron Moncur","startTime":550.77,"endTime":551.975,"body":"when they're preparing for an exit?"},{"speaker":"Wally Waldron","startTime":552.68,"endTime":553.52,"body":"Yeah, for sure."},{"speaker":"Wally Waldron","startTime":553.52,"endTime":556.76,"body":"So, so the reason I start with"},{"speaker":"Wally Waldron","startTime":553.52,"endTime":556.76,"body":"that, that concept of, are you a"},{"speaker":"Wally Waldron","startTime":556.76,"endTime":562.64,"body":"gold miner or a gold miller is, can"},{"speaker":"Wally Waldron","startTime":556.76,"endTime":562.64,"body":"you actually out of your own way?"},{"speaker":"Wally Waldron","startTime":562.64,"endTime":562.91,"body":"Right?"},{"speaker":"Wally Waldron","startTime":562.91,"endTime":566.24,"body":"Can you zoom out and look at"},{"speaker":"Wally Waldron","startTime":562.91,"endTime":566.24,"body":"your own business objectively?"},{"speaker":"Wally Waldron","startTime":567.62,"endTime":572.87,"body":"and so zooming back, um, to your"},{"speaker":"Wally Waldron","startTime":567.62,"endTime":572.87,"body":"point, engineers are amazing people"},{"speaker":"Wally Waldron","startTime":572.87,"endTime":576.02,"body":"to do business with because of"},{"speaker":"Wally Waldron","startTime":572.87,"endTime":576.02,"body":"their mathematical acumen, right?"},{"speaker":"Wally Waldron","startTime":576.02,"endTime":580.16,"body":"Because of their reasoning, because"},{"speaker":"Wally Waldron","startTime":576.02,"endTime":580.16,"body":"of, you know, ultimately you talk"},{"speaker":"Wally Waldron","startTime":580.16,"endTime":582.83,"body":"to enough engineers, you can pretty"},{"speaker":"Wally Waldron","startTime":580.16,"endTime":582.83,"body":"much distill everything into some"},{"speaker":"Wally Waldron","startTime":582.83,"endTime":584.42,"body":"sort of algebra equation, right?"},{"speaker":"Wally Waldron","startTime":585.26,"endTime":585.975,"body":"so that."},{"speaker":"Wally Waldron","startTime":586.27,"endTime":587.5,"body":"That's their strength."},{"speaker":"Wally Waldron","startTime":587.65,"endTime":590.65,"body":"But a strength over extended"},{"speaker":"Wally Waldron","startTime":587.65,"endTime":590.65,"body":"can become a weakness."},{"speaker":"Wally Waldron","startTime":590.65,"endTime":593.62,"body":"And so that's where I keep"},{"speaker":"Wally Waldron","startTime":590.65,"endTime":593.62,"body":"hammering home to that mindset."},{"speaker":"Wally Waldron","startTime":593.92,"endTime":598.3,"body":"Can you actually get creative enough"},{"speaker":"Wally Waldron","startTime":593.92,"endTime":598.3,"body":"and ask enough impossible questions?"},{"speaker":"Wally Waldron","startTime":598.3,"endTime":604.54,"body":"Or even, potentially can you have someone"},{"speaker":"Wally Waldron","startTime":598.3,"endTime":604.54,"body":"else guide you through arriving at a"},{"speaker":"Wally Waldron","startTime":604.54,"endTime":608.08,"body":"more creative and expansive view so"},{"speaker":"Wally Waldron","startTime":604.54,"endTime":608.08,"body":"that then you can go back and do your"},{"speaker":"Wally Waldron","startTime":608.08,"endTime":609.7,"body":"engineering thing to bring that forth."},{"speaker":"Wally Waldron","startTime":609.79,"endTime":614.77,"body":"And so, so sometimes one of the, one of"},{"speaker":"Wally Waldron","startTime":609.79,"endTime":614.77,"body":"the issues that we see is that you're"},{"speaker":"Wally Waldron","startTime":614.77,"endTime":616.12,"body":"almost too good at what you're doing."},{"speaker":"Wally Waldron","startTime":616.52,"endTime":619.58,"body":"And, and so you are act, whether"},{"speaker":"Wally Waldron","startTime":616.52,"endTime":619.58,"body":"you know it or not, you're caught"},{"speaker":"Wally Waldron","startTime":619.58,"endTime":621.35,"body":"in that proverbial gold mine, right?"},{"speaker":"Wally Waldron","startTime":621.59,"endTime":624.77,"body":"You're just, you're, you're so"},{"speaker":"Wally Waldron","startTime":621.59,"endTime":624.77,"body":"comfortable at optimizing everything"},{"speaker":"Wally Waldron","startTime":624.77,"endTime":630.08,"body":"that is that you miss the big picture"},{"speaker":"Wally Waldron","startTime":624.77,"endTime":630.08,"body":"and then somebody passes you by, right?"},{"speaker":"Wally Waldron","startTime":630.23,"endTime":635.06,"body":"Um, so, so that's, that's a mistake"},{"speaker":"Wally Waldron","startTime":630.23,"endTime":635.06,"body":"is just, you know, perhaps being"},{"speaker":"Wally Waldron","startTime":635.21,"endTime":637.43,"body":"too good at the small things"},{"speaker":"Wally Waldron","startTime":635.21,"endTime":637.43,"body":"that you miss the big picture."},{"speaker":"Wally Waldron","startTime":637.85,"endTime":641.66,"body":"Um, another thing, and, and this is"},{"speaker":"Wally Waldron","startTime":637.85,"endTime":641.66,"body":"really important as it pertains to."},{"speaker":"Wally Waldron","startTime":642.44,"endTime":646.94,"body":"Really all founders, but um, you know,"},{"speaker":"Wally Waldron","startTime":642.44,"endTime":646.94,"body":"technical and engineering founders is, are"},{"speaker":"Wally Waldron","startTime":646.94,"endTime":649.01,"body":"you beginning with the end in mind, right?"},{"speaker":"Wally Waldron","startTime":649.01,"endTime":654.47,"body":"Have you thought about what your business"},{"speaker":"Wally Waldron","startTime":649.01,"endTime":654.47,"body":"might look like one day when you exit it?"},{"speaker":"Wally Waldron","startTime":654.95,"endTime":660.71,"body":"And as much as it pains me to say it,"},{"speaker":"Wally Waldron","startTime":654.95,"endTime":660.71,"body":"uh, you will exit your business, right?"},{"speaker":"Wally Waldron","startTime":660.8,"endTime":661.07,"body":"Um."},{"speaker":"Wally Waldron","startTime":661.79,"endTime":663.53,"body":"So there's really only a choice."},{"speaker":"Wally Waldron","startTime":663.62,"endTime":667.88,"body":"Do you do it consciously and with options"},{"speaker":"Wally Waldron","startTime":663.62,"endTime":667.88,"body":"because you've prepared or does it"},{"speaker":"Wally Waldron","startTime":667.88,"endTime":669.56,"body":"just sneak up on you and happen to you?"},{"speaker":"Wally Waldron","startTime":671.24,"endTime":676.34,"body":"um, you know, the, what that looks"},{"speaker":"Wally Waldron","startTime":671.24,"endTime":676.34,"body":"like a lot of times is almost"},{"speaker":"Wally Waldron","startTime":676.34,"endTime":678.02,"body":"being too smart to ask for help."},{"speaker":"Wally Waldron","startTime":678.77,"endTime":679.94,"body":"That that's one way to do it."},{"speaker":"Wally Waldron","startTime":680.06,"endTime":684.95,"body":"Um, another way is starting too"},{"speaker":"Wally Waldron","startTime":680.06,"endTime":684.95,"body":"late in the process, um, a lot of"},{"speaker":"Wally Waldron","startTime":684.95,"endTime":688.85,"body":"times is, you know, and, and it"},{"speaker":"Wally Waldron","startTime":684.95,"endTime":688.85,"body":"hats off to everybody listening."},{"speaker":"Wally Waldron","startTime":689.15,"endTime":690.83,"body":"A lot of times people"},{"speaker":"Wally Waldron","startTime":689.15,"endTime":690.83,"body":"just aren't educated."},{"speaker":"Wally Waldron","startTime":691.25,"endTime":693.92,"body":"And so if you're listening to this,"},{"speaker":"Wally Waldron","startTime":691.25,"endTime":693.92,"body":"you're on the right track because"},{"speaker":"Wally Waldron","startTime":694.19,"endTime":696.53,"body":"you know you're not gonna unhear"},{"speaker":"Wally Waldron","startTime":694.19,"endTime":696.53,"body":"what we're talking about here today."},{"speaker":"Wally Waldron","startTime":696.53,"endTime":698.84,"body":"You're gonna think about things"},{"speaker":"Wally Waldron","startTime":696.53,"endTime":698.84,"body":"that maybe you didn't know about."},{"speaker":"Wally Waldron","startTime":699.32,"endTime":704.09,"body":"And, um, so I, I was, uh, recently"},{"speaker":"Wally Waldron","startTime":699.32,"endTime":704.09,"body":"having dinner with a gentleman in the"},{"speaker":"Wally Waldron","startTime":704.18,"endTime":708.2,"body":"medical space and he told me about how"},{"speaker":"Wally Waldron","startTime":704.18,"endTime":708.2,"body":"he grew up and it sounded amazing 'cause"},{"speaker":"Wally Waldron","startTime":708.2,"endTime":709.76,"body":"it was in the middle of the Midwest."},{"speaker":"Wally Waldron","startTime":709.765,"endTime":713.45,"body":"And, and he grew up for a guy that"},{"speaker":"Wally Waldron","startTime":709.765,"endTime":713.45,"body":"sounded basically like he could have"},{"speaker":"Wally Waldron","startTime":713.45,"endTime":718.25,"body":"been one of the HP founders, you"},{"speaker":"Wally Waldron","startTime":713.45,"endTime":718.25,"body":"know, super engineer, geek, uh, very"},{"speaker":"Wally Waldron","startTime":718.25,"endTime":719.99,"body":"regimented in everything that he did."},{"speaker":"Wally Waldron","startTime":720.47,"endTime":723.86,"body":"And when this gentleman was"},{"speaker":"Wally Waldron","startTime":720.47,"endTime":723.86,"body":"growing up, his, his house"},{"speaker":"Wally Waldron","startTime":723.86,"endTime":725.66,"body":"turned into a factory basically."},{"speaker":"Wally Waldron","startTime":726.11,"endTime":729.44,"body":"And that's how, that was the"},{"speaker":"Wally Waldron","startTime":726.11,"endTime":729.44,"body":"entire world that he grew up in."},{"speaker":"Wally Waldron","startTime":729.86,"endTime":733.28,"body":"And you know, unfortunately dad and"},{"speaker":"Wally Waldron","startTime":729.86,"endTime":733.28,"body":"mom are still part of that business"},{"speaker":"Wally Waldron","startTime":733.28,"endTime":734.39,"body":"and they're in their eighties now."},{"speaker":"Wally Waldron","startTime":734.84,"endTime":738.32,"body":"And this guy, I mean, I don't know"},{"speaker":"Wally Waldron","startTime":734.84,"endTime":738.32,"body":"if we're ever gonna be able to help"},{"speaker":"Wally Waldron","startTime":738.32,"endTime":739.82,"body":"him because his hands are tied."},{"speaker":"Wally Waldron","startTime":739.85,"endTime":742.4,"body":"He's running this business"},{"speaker":"Wally Waldron","startTime":739.85,"endTime":742.4,"body":"and he's doing the job."},{"speaker":"Wally Waldron","startTime":742.73,"endTime":745.22,"body":"That should be worth multiple."},{"speaker":"Wally Waldron","startTime":745.55,"endTime":748.55,"body":"Multiple, hundreds of thousands of"},{"speaker":"Wally Waldron","startTime":745.55,"endTime":748.55,"body":"dollars every year, and he should"},{"speaker":"Wally Waldron","startTime":748.55,"endTime":749.63,"body":"be in control of this business."},{"speaker":"Wally Waldron","startTime":749.63,"endTime":753.68,"body":"But he does is go into work and get"},{"speaker":"Wally Waldron","startTime":749.63,"endTime":753.68,"body":"mad at his family members, like his"},{"speaker":"Wally Waldron","startTime":753.68,"endTime":757.73,"body":"sister, who is somehow installed in"},{"speaker":"Wally Waldron","startTime":753.68,"endTime":757.73,"body":"a power position in this whole thing."},{"speaker":"Wally Waldron","startTime":757.79,"endTime":761.18,"body":"And so, you know, back it out, right?"},{"speaker":"Wally Waldron","startTime":761.99,"endTime":765.71,"body":"All they forgot to do was"},{"speaker":"Wally Waldron","startTime":761.99,"endTime":765.71,"body":"plan ahead and they didn't."},{"speaker":"Wally Waldron","startTime":765.71,"endTime":766.64,"body":"They didn't know what they didn't know."},{"speaker":"Wally Waldron","startTime":766.91,"endTime":767.42,"body":"And now."},{"speaker":"Wally Waldron","startTime":768.215,"endTime":770.645,"body":"They, they're in the, you know,"},{"speaker":"Wally Waldron","startTime":768.215,"endTime":770.645,"body":"they're, they're trapped, right?"},{"speaker":"Wally Waldron","startTime":770.675,"endTime":774.695,"body":"So the idea here, um, you know,"},{"speaker":"Wally Waldron","startTime":770.675,"endTime":774.695,"body":"let's invert that situation."},{"speaker":"Wally Waldron","startTime":774.785,"endTime":778.055,"body":"Let's plan ahead, let's think ahead so"},{"speaker":"Wally Waldron","startTime":774.785,"endTime":778.055,"body":"that you have options along the way."},{"speaker":"Wally Waldron","startTime":778.295,"endTime":779.645,"body":"So that's what it's really about."},{"speaker":"Aaron Moncur","startTime":824.325,"endTime":826.155,"body":"Powerful"},{"speaker":"Aaron Moncur","startTime":824.325,"endTime":826.155,"body":"words, powerful words."},{"speaker":"Aaron Moncur","startTime":826.635,"endTime":831.315,"body":"Um, planning ahead, uh, you"},{"speaker":"Aaron Moncur","startTime":826.635,"endTime":831.315,"body":"know, 99 times out of a hundred"},{"speaker":"Aaron Moncur","startTime":831.315,"endTime":832.6949999999999,"body":"leads to a, a better outcome."},{"speaker":"Aaron Moncur","startTime":832.6949999999999,"endTime":836.865,"body":"Maybe 999 times out of a thousand"},{"speaker":"Aaron Moncur","startTime":832.6949999999999,"endTime":836.865,"body":"leads leads to a, a better outcome."},{"speaker":"Aaron Moncur","startTime":836.865,"endTime":840.925,"body":"Right on, on your website"},{"speaker":"Aaron Moncur","startTime":836.865,"endTime":840.925,"body":"you have, uh, some, uh."},{"speaker":"Aaron Moncur","startTime":841.125,"endTime":845.9549999999999,"body":"Um, potential better outcomes that"},{"speaker":"Aaron Moncur","startTime":841.125,"endTime":845.9549999999999,"body":"you have quantified in numbers."},{"speaker":"Aaron Moncur","startTime":845.96,"endTime":851.7149999999999,"body":"You, you talk about, uh, business"},{"speaker":"Aaron Moncur","startTime":845.96,"endTime":851.7149999999999,"body":"owners in this niche can grow 33%"},{"speaker":"Aaron Moncur","startTime":851.7750000000001,"endTime":857.0550000000001,"body":"annually and add, uh, 10 million"},{"speaker":"Aaron Moncur","startTime":851.7750000000001,"endTime":857.0550000000001,"body":"plus in value to their business."},{"speaker":"Aaron Moncur","startTime":857.115,"endTime":860.355,"body":"Now we should qualify that this,"},{"speaker":"Aaron Moncur","startTime":857.115,"endTime":860.355,"body":"this is for businesses who are"},{"speaker":"Aaron Moncur","startTime":860.355,"endTime":865.155,"body":"already doing, I think it's five"},{"speaker":"Aaron Moncur","startTime":860.355,"endTime":865.155,"body":"to a hundred million in, in sales."},{"speaker":"Aaron Moncur","startTime":865.48,"endTime":870.4300000000001,"body":"And their average sales price"},{"speaker":"Aaron Moncur","startTime":865.48,"endTime":870.4300000000001,"body":"is, uh, $10,000 or, or above."},{"speaker":"Aaron Moncur","startTime":870.4300000000001,"endTime":875.6800000000001,"body":"So there are some qualifications"},{"speaker":"Aaron Moncur","startTime":870.4300000000001,"endTime":875.6800000000001,"body":"there that you have, but I imagine"},{"speaker":"Aaron Moncur","startTime":875.8299999999999,"endTime":880.24,"body":"the real answer to this question is"},{"speaker":"Aaron Moncur","startTime":875.8299999999999,"endTime":880.24,"body":"also going to be, it depends, but,"},{"speaker":"Aaron Moncur","startTime":880.24,"endTime":886.06,"body":"uh, are there any, um, generalities"},{"speaker":"Aaron Moncur","startTime":880.24,"endTime":886.06,"body":"that, that you can make or, or share"},{"speaker":"Aaron Moncur","startTime":886.06,"endTime":889.69,"body":"about how you go about doing this?"},{"speaker":"Wally Waldron","startTime":890.2,"endTime":891.3699999999999,"body":"yeah, 100%."},{"speaker":"Wally Waldron","startTime":891.5899999999999,"endTime":892.935,"body":"So, um."},{"speaker":"Wally Waldron","startTime":893.31,"endTime":896.31,"body":"You know, I'm glad that"},{"speaker":"Wally Waldron","startTime":893.31,"endTime":896.31,"body":"you, you brought that up."},{"speaker":"Wally Waldron","startTime":896.3399999999999,"endTime":899.52,"body":"So it depends, means a couple"},{"speaker":"Wally Waldron","startTime":896.3399999999999,"endTime":899.52,"body":"different things, right?"},{"speaker":"Wally Waldron","startTime":899.52,"endTime":902.73,"body":"One is, let's look for the common"},{"speaker":"Wally Waldron","startTime":899.52,"endTime":902.73,"body":"thread of what these success stories"},{"speaker":"Wally Waldron","startTime":902.73,"endTime":907.4100000000001,"body":"look like, and let's look at what"},{"speaker":"Wally Waldron","startTime":902.73,"endTime":907.4100000000001,"body":"conditions ought to be in place, or"},{"speaker":"Wally Waldron","startTime":907.4100000000001,"endTime":909.54,"body":"really, frankly, need to be in place."},{"speaker":"Wally Waldron","startTime":910.29,"endTime":912.72,"body":"To achieve such results, right?"},{"speaker":"Wally Waldron","startTime":913.05,"endTime":918.81,"body":"And so the first thing is, yes, you want"},{"speaker":"Wally Waldron","startTime":913.05,"endTime":918.81,"body":"an average order value of $10,000 or more."},{"speaker":"Wally Waldron","startTime":919.1700000000001,"endTime":923.76,"body":"Um, this implies typically"},{"speaker":"Wally Waldron","startTime":919.1700000000001,"endTime":923.76,"body":"some type of B2B sale."},{"speaker":"Wally Waldron","startTime":924.1800000000001,"endTime":926.31,"body":"This implies typically"},{"speaker":"Wally Waldron","startTime":924.1800000000001,"endTime":926.31,"body":"something of high value."},{"speaker":"Wally Waldron","startTime":926.52,"endTime":926.8199999999999,"body":"Um."},{"speaker":"Wally Waldron","startTime":928.0050000000001,"endTime":932.325,"body":"The other thing, uh, that you wanna"},{"speaker":"Wally Waldron","startTime":928.0050000000001,"endTime":932.325,"body":"see is, uh, lifetime customer value"},{"speaker":"Wally Waldron","startTime":932.325,"endTime":933.675,"body":"of a hundred thousand dollars or more."},{"speaker":"Wally Waldron","startTime":933.9449999999999,"endTime":936.0450000000001,"body":"And again, going back to what"},{"speaker":"Wally Waldron","startTime":933.9449999999999,"endTime":936.0450000000001,"body":"I shared with you a few minutes"},{"speaker":"Wally Waldron","startTime":936.0450000000001,"endTime":937.875,"body":"ago, none of this is magic."},{"speaker":"Wally Waldron","startTime":937.875,"endTime":942.06,"body":"This just came from an analysis of looking"},{"speaker":"Wally Waldron","startTime":937.875,"endTime":942.06,"body":"back and saying what worked really well."},{"speaker":"Wally Waldron","startTime":943.0050000000001,"endTime":946.4549999999999,"body":"Looking in this direction, how can we"},{"speaker":"Wally Waldron","startTime":943.0050000000001,"endTime":946.4549999999999,"body":"apply this even better going forward?"},{"speaker":"Wally Waldron","startTime":946.4849999999999,"endTime":952.065,"body":"And so, um, the most important thing"},{"speaker":"Wally Waldron","startTime":946.4849999999999,"endTime":952.065,"body":"we've already touched on, and that is an"},{"speaker":"Wally Waldron","startTime":952.065,"endTime":958.155,"body":"owner and frankly, uh, leadership team"},{"speaker":"Wally Waldron","startTime":952.065,"endTime":958.155,"body":"who can think like investors, right?"},{"speaker":"Wally Waldron","startTime":958.4549999999999,"endTime":963.315,"body":"So someone who can think in terms of"},{"speaker":"Wally Waldron","startTime":958.4549999999999,"endTime":963.315,"body":"saying, what would it take to build a"},{"speaker":"Wally Waldron","startTime":963.315,"endTime":969.615,"body":"system that was trackable and accountable"},{"speaker":"Wally Waldron","startTime":963.315,"endTime":969.615,"body":"to the marketplace, to ourselves, that"},{"speaker":"Wally Waldron","startTime":969.615,"endTime":971.325,"body":"could be predictable, that could send."},{"speaker":"Wally Waldron","startTime":971.79,"endTime":977.8199999999999,"body":"Enough, um, business, you"},{"speaker":"Wally Waldron","startTime":971.79,"endTime":977.8199999999999,"body":"know, to, to grow 33%, right?"},{"speaker":"Wally Waldron","startTime":978.1800000000001,"endTime":982.98,"body":"Um, so there's both a, a marketing"},{"speaker":"Wally Waldron","startTime":978.1800000000001,"endTime":982.98,"body":"side of it and a sales side of it."},{"speaker":"Wally Waldron","startTime":983.1600000000001,"endTime":987.48,"body":"So you need a high performing sales"},{"speaker":"Wally Waldron","startTime":983.1600000000001,"endTime":987.48,"body":"team, and it could be a high performing"},{"speaker":"Wally Waldron","startTime":987.48,"endTime":990.03,"body":"sales team of one in some, some cases."},{"speaker":"Wally Waldron","startTime":990.4200000000001,"endTime":992.9100000000001,"body":"Usually it's a high performing"},{"speaker":"Wally Waldron","startTime":990.4200000000001,"endTime":992.9100000000001,"body":"sales team of more than one."},{"speaker":"Wally Waldron","startTime":993.105,"endTime":996.1949999999999,"body":"Uh, by the time we're talking about"},{"speaker":"Wally Waldron","startTime":993.105,"endTime":996.1949999999999,"body":"these size of businesses, 'cause what,"},{"speaker":"Wally Waldron","startTime":996.1949999999999,"endTime":999.405,"body":"what you're talking about here is"},{"speaker":"Wally Waldron","startTime":996.1949999999999,"endTime":999.405,"body":"really getting into the middle market"},{"speaker":"Wally Waldron","startTime":999.405,"endTime":1001.145,"body":"of, of privately owned businesses."},{"speaker":"Wally Waldron","startTime":1001.2049999999999,"endTime":1005.675,"body":"Um, the, the way that they talk about"},{"speaker":"Wally Waldron","startTime":1001.2049999999999,"endTime":1005.675,"body":"that is five, five to $10 million"},{"speaker":"Wally Waldron","startTime":1005.675,"endTime":1010.2950000000001,"body":"in revenue is typically, uh, talked"},{"speaker":"Wally Waldron","startTime":1005.675,"endTime":1010.2950000000001,"body":"about as the upper main street market."},{"speaker":"Wally Waldron","startTime":1010.325,"endTime":1013.2349999999999,"body":"And there's a lot of great"},{"speaker":"Wally Waldron","startTime":1010.325,"endTime":1013.2349999999999,"body":"businesses that are that size."},{"speaker":"Wally Waldron","startTime":1013.565,"endTime":1016.835,"body":"And, you know, in a perfect world,"},{"speaker":"Wally Waldron","startTime":1013.565,"endTime":1016.835,"body":"we would love to find businesses"},{"speaker":"Wally Waldron","startTime":1016.835,"endTime":1018.9649999999999,"body":"around that $10 million revenue area."},{"speaker":"Wally Waldron","startTime":1019.4000000000001,"endTime":1021.9200000000001,"body":"Grow them up to 30 million"},{"speaker":"Wally Waldron","startTime":1019.4000000000001,"endTime":1021.9200000000001,"body":"and then help them exit."},{"speaker":"Wally Waldron","startTime":1022.52,"endTime":1027.26,"body":"And, um, just so that the listeners know,"},{"speaker":"Wally Waldron","startTime":1022.52,"endTime":1027.26,"body":"we've, we've helped businesses as small"},{"speaker":"Wally Waldron","startTime":1027.74,"endTime":1031.7,"body":"as, as I shared with you, you know, um,"},{"speaker":"Wally Waldron","startTime":1027.74,"endTime":1031.7,"body":"my friend who was literally pressing,"},{"speaker":"Wally Waldron","startTime":1031.97,"endTime":1034.67,"body":"uh, skis in his garage, uh, to start."},{"speaker":"Wally Waldron","startTime":1034.76,"endTime":1038.03,"body":"And now they're a, uh, they,"},{"speaker":"Wally Waldron","startTime":1034.76,"endTime":1038.03,"body":"they're celebrating their 20th"},{"speaker":"Wally Waldron","startTime":1038.03,"endTime":1042.89,"body":"anniversary this year and they're"},{"speaker":"Wally Waldron","startTime":1038.03,"endTime":1042.89,"body":"a worldwide brand of skis."},{"speaker":"Wally Waldron","startTime":1043.07,"endTime":1043.52,"body":"Um."},{"speaker":"Wally Waldron","startTime":1044.33,"endTime":1049.1,"body":"and there's, they're, uh, to my knowledge,"},{"speaker":"Wally Waldron","startTime":1044.33,"endTime":1049.1,"body":"they may be the only mass produced ski"},{"speaker":"Wally Waldron","startTime":1049.1,"endTime":1051.68,"body":"that is still produced here in the USA."},{"speaker":"Wally Waldron","startTime":1051.83,"endTime":1055.19,"body":"Um, and I don't know that for sure,"},{"speaker":"Wally Waldron","startTime":1051.83,"endTime":1055.19,"body":"but they're, if if they're not the"},{"speaker":"Wally Waldron","startTime":1055.19,"endTime":1056.24,"body":"only one, they're one of the few."},{"speaker":"Wally Waldron","startTime":1057.23,"endTime":1058.64,"body":"um, I think that's great."},{"speaker":"Wally Waldron","startTime":1058.67,"endTime":1059.03,"body":"Right."},{"speaker":"Wally Waldron","startTime":1059.33,"endTime":1062.63,"body":"And, and so, um, going back"},{"speaker":"Wally Waldron","startTime":1059.33,"endTime":1062.63,"body":"to your question, you know,"},{"speaker":"Wally Waldron","startTime":1062.63,"endTime":1063.62,"body":"what else do you need to see?"},{"speaker":"Wally Waldron","startTime":1063.62,"endTime":1066.38,"body":"You need to see, uh, we talked"},{"speaker":"Wally Waldron","startTime":1063.62,"endTime":1066.38,"body":"about that owner's mindset."},{"speaker":"Wally Waldron","startTime":1066.38,"endTime":1068.03,"body":"We talked about high"},{"speaker":"Wally Waldron","startTime":1066.38,"endTime":1068.03,"body":"performing sales team."},{"speaker":"Wally Waldron","startTime":1068.39,"endTime":1069.98,"body":"We also need capacity."},{"speaker":"Wally Waldron","startTime":1070.3700000000001,"endTime":1072.3200000000002,"body":"Or the willingness to build capacity."},{"speaker":"Wally Waldron","startTime":1072.68,"endTime":1078.8300000000002,"body":"And so a perfect situation to us, uh,"},{"speaker":"Wally Waldron","startTime":1072.68,"endTime":1078.8300000000002,"body":"happened a few years ago, and when I"},{"speaker":"Wally Waldron","startTime":1078.8300000000002,"endTime":1084.53,"body":"share this with you, um, I'm, I'm gonna"},{"speaker":"Wally Waldron","startTime":1078.8300000000002,"endTime":1084.53,"body":"be the first to say that I have no idea"},{"speaker":"Wally Waldron","startTime":1084.68,"endTime":1088.16,"body":"if everything is going to fall in place"},{"speaker":"Wally Waldron","startTime":1084.68,"endTime":1088.16,"body":"the way that I'm about to describe."},{"speaker":"Wally Waldron","startTime":1088.73,"endTime":1092.81,"body":"And we found a company, uh, we"},{"speaker":"Wally Waldron","startTime":1088.73,"endTime":1092.81,"body":"knew the, the founders and the"},{"speaker":"Wally Waldron","startTime":1092.81,"endTime":1097.7,"body":"owners from startup, and they"},{"speaker":"Wally Waldron","startTime":1092.81,"endTime":1097.7,"body":"literally started in a shed in 2014."},{"speaker":"Wally Waldron","startTime":1098.1950000000002,"endTime":1101.765,"body":"And they were in, uh, the"},{"speaker":"Wally Waldron","startTime":1098.1950000000002,"endTime":1101.765,"body":"northern Colorado area, and"},{"speaker":"Wally Waldron","startTime":1101.765,"endTime":1102.6950000000002,"body":"we stayed in touch with them."},{"speaker":"Wally Waldron","startTime":1103.655,"endTime":1107.405,"body":"one thing led to another, and"},{"speaker":"Wally Waldron","startTime":1103.655,"endTime":1107.405,"body":"sometime during COVID they"},{"speaker":"Wally Waldron","startTime":1107.405,"endTime":1108.815,"body":"overbuilt their capacity."},{"speaker":"Wally Waldron","startTime":1109.115,"endTime":1111.935,"body":"They had, they had built and"},{"speaker":"Wally Waldron","startTime":1109.115,"endTime":1111.935,"body":"scaled a very nice company."},{"speaker":"Wally Waldron","startTime":1111.935,"endTime":1116.4650000000001,"body":"It was in the oh, 12.5 revenue"},{"speaker":"Wally Waldron","startTime":1111.935,"endTime":1116.4650000000001,"body":"range every single year."},{"speaker":"Wally Waldron","startTime":1117.365,"endTime":1121.025,"body":"the first question I asked him"},{"speaker":"Wally Waldron","startTime":1117.365,"endTime":1121.025,"body":"was, okay, you finally came to me"},{"speaker":"Wally Waldron","startTime":1121.115,"endTime":1122.585,"body":"so that we can do some business."},{"speaker":"Wally Waldron","startTime":1122.675,"endTime":1124.265,"body":"And we've stayed in touch all these years."},{"speaker":"Wally Waldron","startTime":1124.94,"endTime":1126.38,"body":"What, what does the end look like?"},{"speaker":"Wally Waldron","startTime":1126.38,"endTime":1126.5900000000001,"body":"Right?"},{"speaker":"Wally Waldron","startTime":1126.5900000000001,"endTime":1127.52,"body":"Begin with the end in mind."},{"speaker":"Wally Waldron","startTime":1127.52,"endTime":1127.76,"body":"What?"},{"speaker":"Wally Waldron","startTime":1127.76,"endTime":1129.17,"body":"What are you really"},{"speaker":"Wally Waldron","startTime":1127.76,"endTime":1129.17,"body":"trying to achieve here?"},{"speaker":"Wally Waldron","startTime":1130.0700000000002,"endTime":1133.19,"body":"We are trying to exit for top"},{"speaker":"Wally Waldron","startTime":1130.0700000000002,"endTime":1133.19,"body":"dollar as much as possible."},{"speaker":"Wally Waldron","startTime":1133.43,"endTime":1133.8500000000001,"body":"Okay."},{"speaker":"Wally Waldron","startTime":1134.0900000000001,"endTime":1134.51,"body":"Why?"},{"speaker":"Wally Waldron","startTime":1134.51,"endTime":1135.56,"body":"What's driving that?"},{"speaker":"Wally Waldron","startTime":1136.3700000000001,"endTime":1137.39,"body":"We're stressed out."},{"speaker":"Wally Waldron","startTime":1137.66,"endTime":1138.68,"body":"We're a young family."},{"speaker":"Wally Waldron","startTime":1138.68,"endTime":1143.75,"body":"We're in our thirties and we built"},{"speaker":"Wally Waldron","startTime":1138.68,"endTime":1143.75,"body":"about $25 million worth of capacity,"},{"speaker":"Wally Waldron","startTime":1143.75,"endTime":1144.68,"body":"and we're only halfway full."},{"speaker":"Wally Waldron","startTime":1145.655,"endTime":1147.545,"body":"It's, expensive."},{"speaker":"Wally Waldron","startTime":1147.575,"endTime":1149.165,"body":"We went into debt to do this."},{"speaker":"Wally Waldron","startTime":1149.2250000000001,"endTime":1152.855,"body":"I mean, it, not to put too final point"},{"speaker":"Wally Waldron","startTime":1149.2250000000001,"endTime":1152.855,"body":"on it, mama was freaking out, right?"},{"speaker":"Wally Waldron","startTime":1152.915,"endTime":1155.585,"body":"And so, all right, let's look at these."},{"speaker":"Wally Waldron","startTime":1155.765,"endTime":1158.435,"body":"Let's look at these,"},{"speaker":"Wally Waldron","startTime":1155.765,"endTime":1158.435,"body":"uh, potentials for you."},{"speaker":"Wally Waldron","startTime":1158.885,"endTime":1160.835,"body":"So we, we took 'em through process."},{"speaker":"Wally Waldron","startTime":1160.835,"endTime":1162.425,"body":"We talk about it in Otology."},{"speaker":"Wally Waldron","startTime":1162.515,"endTime":1166.2050000000002,"body":"Um, there, there's a, there's"},{"speaker":"Wally Waldron","startTime":1162.515,"endTime":1166.2050000000002,"body":"kind of a quiz you can go through."},{"speaker":"Wally Waldron","startTime":1166.2050000000002,"endTime":1167.645,"body":"I wanna say it's on page 1 0 9."},{"speaker":"Wally Waldron","startTime":1167.645,"endTime":1173.045,"body":"Don't quote me on the exact, uh, page"},{"speaker":"Wally Waldron","startTime":1167.645,"endTime":1173.045,"body":"number, We just broke down the business"},{"speaker":"Wally Waldron","startTime":1173.045,"endTime":1175.505,"body":"and, and we asked that question,"},{"speaker":"Wally Waldron","startTime":1173.045,"endTime":1175.505,"body":"where's the next million dollars"},{"speaker":"Wally Waldron","startTime":1175.505,"endTime":1176.615,"body":"already hiding in this business?"},{"speaker":"Wally Waldron","startTime":1176.615,"endTime":1178.925,"body":"Where's the next $10 million"},{"speaker":"Wally Waldron","startTime":1176.615,"endTime":1178.925,"body":"already hiding in this business?"},{"speaker":"Wally Waldron","startTime":1178.9850000000001,"endTime":1181.565,"body":"Where's the next $50 million"},{"speaker":"Wally Waldron","startTime":1178.9850000000001,"endTime":1181.565,"body":"already hiding in this business?"},{"speaker":"Wally Waldron","startTime":1181.685,"endTime":1185.405,"body":"And for my engineer friends here, what"},{"speaker":"Wally Waldron","startTime":1181.685,"endTime":1185.405,"body":"we're doing is we're really getting that"},{"speaker":"Wally Waldron","startTime":1185.405,"endTime":1188.915,"body":"subconscious going, and we're asking"},{"speaker":"Wally Waldron","startTime":1185.405,"endTime":1188.915,"body":"questions that you already know the"},{"speaker":"Wally Waldron","startTime":1188.915,"endTime":1190.325,"body":"answers to because you're an engineer."},{"speaker":"Wally Waldron","startTime":1190.325,"endTime":1192.035,"body":"The sub routine's been running forever."},{"speaker":"Wally Waldron","startTime":1192.035,"endTime":1195.425,"body":"It just hasn't come up to actually be"},{"speaker":"Wally Waldron","startTime":1192.035,"endTime":1195.425,"body":"put on the chalkboard, so to speak."},{"speaker":"Wally Waldron","startTime":1195.4550000000002,"endTime":1195.515,"body":"So."},{"speaker":"Wally Waldron","startTime":1196.24,"endTime":1199.585,"body":"You know, if, if I look at you right now,"},{"speaker":"Wally Waldron","startTime":1196.24,"endTime":1199.585,"body":"Aaron and I say, Hey, where's the next $10"},{"speaker":"Wally Waldron","startTime":1199.585,"endTime":1201.1000000000001,"body":"million already hiding in your business?"},{"speaker":"Wally Waldron","startTime":1201.76,"endTime":1203.17,"body":"I see how you're smiling right now."},{"speaker":"Wally Waldron","startTime":1203.77,"endTime":1205.45,"body":"You're starting to come"},{"speaker":"Wally Waldron","startTime":1203.77,"endTime":1205.45,"body":"up with ideas, right?"},{"speaker":"Wally Waldron","startTime":1205.78,"endTime":1210.7,"body":"And so we go through this exercise and"},{"speaker":"Wally Waldron","startTime":1205.78,"endTime":1210.7,"body":"then we start to create a path, right?"},{"speaker":"Wally Waldron","startTime":1210.97,"endTime":1213.22,"body":"Well, is it 10 million or"},{"speaker":"Wally Waldron","startTime":1210.97,"endTime":1213.22,"body":"is it 20 million, right?"},{"speaker":"Wally Waldron","startTime":1213.22,"endTime":1214.3300000000002,"body":"Is it 10 million or 5 million?"},{"speaker":"Wally Waldron","startTime":1214.42,"endTime":1217.8700000000001,"body":"And, and we start to reverse"},{"speaker":"Wally Waldron","startTime":1214.42,"endTime":1217.8700000000001,"body":"engineer from a future state."},{"speaker":"Wally Waldron","startTime":1217.9,"endTime":1218.6200000000001,"body":"Does that make sense?"},{"speaker":"Aaron Moncur","startTime":1219.035,"endTime":1219.635,"body":"It does."},{"speaker":"Aaron Moncur","startTime":1219.6950000000002,"endTime":1220.055,"body":"Yeah."},{"speaker":"Aaron Moncur","startTime":1220.505,"endTime":1220.775,"body":"Yeah."},{"speaker":"Wally Waldron","startTime":1220.9550000000002,"endTime":1224.2250000000001,"body":"yeah, so, so in this"},{"speaker":"Wally Waldron","startTime":1220.9550000000002,"endTime":1224.2250000000001,"body":"case, this one had a great ending because"},{"speaker":"Wally Waldron","startTime":1224.2250000000001,"endTime":1228.425,"body":"what ended up happening was we put a"},{"speaker":"Wally Waldron","startTime":1224.2250000000001,"endTime":1228.425,"body":"minimum of $2.3 million of additional"},{"speaker":"Wally Waldron","startTime":1228.425,"endTime":1232.625,"body":"revenue on the top for them, and they"},{"speaker":"Wally Waldron","startTime":1228.425,"endTime":1232.625,"body":"exited to private equity at the end"},{"speaker":"Wally Waldron","startTime":1232.625,"endTime":1235.9850000000001,"body":"of 2022, about four and a half months."},{"speaker":"Wally Waldron","startTime":1236.675,"endTime":1242.675,"body":"so, um, the crazy thing about this"},{"speaker":"Wally Waldron","startTime":1236.675,"endTime":1242.675,"body":"whole situation was that we were"},{"speaker":"Wally Waldron","startTime":1242.675,"endTime":1244.265,"body":"trying to do this in 18 months."},{"speaker":"Wally Waldron","startTime":1245.015,"endTime":1248.525,"body":"And so, and it accelerated"},{"speaker":"Wally Waldron","startTime":1245.015,"endTime":1248.525,"body":"because the sales on the top"},{"speaker":"Wally Waldron","startTime":1248.525,"endTime":1250.505,"body":"end were accelerating so fast."},{"speaker":"Wally Waldron","startTime":1250.865,"endTime":1256.085,"body":"The net profit was flowing to the bottom"},{"speaker":"Wally Waldron","startTime":1250.865,"endTime":1256.085,"body":"line and the external environment."},{"speaker":"Wally Waldron","startTime":1256.085,"endTime":1258.635,"body":"And this is, this is an important"},{"speaker":"Wally Waldron","startTime":1256.085,"endTime":1258.635,"body":"part of the third part of it."},{"speaker":"Wally Waldron","startTime":1258.815,"endTime":1262.9850000000001,"body":"We can't take any credit for most"},{"speaker":"Wally Waldron","startTime":1258.815,"endTime":1262.9850000000001,"body":"of what happened except for timing,"},{"speaker":"Wally Waldron","startTime":1263.315,"endTime":1267.155,"body":"because we did, we did our best work"},{"speaker":"Wally Waldron","startTime":1263.315,"endTime":1267.155,"body":"like we do in any economic condition."},{"speaker":"Wally Waldron","startTime":1267.545,"endTime":1270.155,"body":"But we can't recreate a"},{"speaker":"Wally Waldron","startTime":1267.545,"endTime":1270.155,"body":"situation where cheap money is"},{"speaker":"Wally Waldron","startTime":1270.2150000000001,"endTime":1271.655,"body":"starting to run out of time."},{"speaker":"Wally Waldron","startTime":1271.835,"endTime":1273.905,"body":"Silicon Valley Bank had not yet crashed."},{"speaker":"Wally Waldron","startTime":1274.625,"endTime":1277.925,"body":"SPACs, were starting to say, Hey,"},{"speaker":"Wally Waldron","startTime":1274.625,"endTime":1277.925,"body":"we better buy something else."},{"speaker":"Wally Waldron","startTime":1277.925,"endTime":1279.545,"body":"We're gonna have to give the money back."},{"speaker":"Wally Waldron","startTime":1279.755,"endTime":1285.665,"body":"And so all these things happened and"},{"speaker":"Wally Waldron","startTime":1279.755,"endTime":1285.665,"body":"we and the client more importantly,"},{"speaker":"Wally Waldron","startTime":1285.755,"endTime":1287.105,"body":"were the beneficiary of that."},{"speaker":"Wally Waldron","startTime":1287.585,"endTime":1290.9450000000002,"body":"And so mom got to go and be,"},{"speaker":"Wally Waldron","startTime":1287.585,"endTime":1290.9450000000002,"body":"mom stepped down completely and"},{"speaker":"Wally Waldron","startTime":1290.9450000000002,"endTime":1292.7150000000001,"body":"retired in her mid thirties."},{"speaker":"Wally Waldron","startTime":1293.1200000000001,"endTime":1295.76,"body":"Young family Dad got a"},{"speaker":"Wally Waldron","startTime":1293.1200000000001,"endTime":1295.76,"body":"second bite of the apple."},{"speaker":"Wally Waldron","startTime":1295.76,"endTime":1298.91,"body":"He still has this great place where he"},{"speaker":"Wally Waldron","startTime":1295.76,"endTime":1298.91,"body":"can go and innovate like the engineer"},{"speaker":"Wally Waldron","startTime":1298.91,"endTime":1303.5900000000001,"body":"that he is, but he doesn't have to worry"},{"speaker":"Wally Waldron","startTime":1298.91,"endTime":1303.5900000000001,"body":"about all this extra business stuff."},{"speaker":"Wally Waldron","startTime":1303.8,"endTime":1304.19,"body":"Right."},{"speaker":"Wally Waldron","startTime":1304.5800000000002,"endTime":1308.93,"body":"It's a really great story and, and"},{"speaker":"Wally Waldron","startTime":1304.5800000000002,"endTime":1308.93,"body":"I, I, I think it's a perfect outcome"},{"speaker":"Wally Waldron","startTime":1308.93,"endTime":1310.3700000000001,"body":"for an engineering minded person."},{"speaker":"Wally Waldron","startTime":1310.3700000000001,"endTime":1310.49,"body":"Awesome."},{"speaker":"Aaron Moncur","startTime":1310.9950000000001,"endTime":1311.685,"body":"That's awesome."},{"speaker":"Aaron Moncur","startTime":1311.835,"endTime":1312.165,"body":"Wow."},{"speaker":"Aaron Moncur","startTime":1312.435,"endTime":1316.875,"body":"Um, so this, this family did,"},{"speaker":"Aaron Moncur","startTime":1312.435,"endTime":1316.875,"body":"uh, a lot of things right."},{"speaker":"Wally Waldron","startTime":1317.0,"endTime":1317.3,"body":"Mm-hmm."},{"speaker":"Aaron Moncur","startTime":1318.075,"endTime":1323.775,"body":"Do you have any stories"},{"speaker":"Aaron Moncur","startTime":1318.075,"endTime":1323.775,"body":"that are educational for us of a founder?"},{"speaker":"Aaron Moncur","startTime":1323.775,"endTime":1327.615,"body":"Of course, without going into any"},{"speaker":"Aaron Moncur","startTime":1323.775,"endTime":1327.615,"body":"confidential specific details, but of"},{"speaker":"Aaron Moncur","startTime":1327.615,"endTime":1330.765,"body":"a founder who, who didn't do everything"},{"speaker":"Aaron Moncur","startTime":1327.615,"endTime":1330.765,"body":"right and things didn't turn out so great."},{"speaker":"Wally Waldron","startTime":1331.79,"endTime":1334.8500000000001,"body":"so, so before I"},{"speaker":"Wally Waldron","startTime":1331.79,"endTime":1334.8500000000001,"body":"answer this, here's what stinks."},{"speaker":"Wally Waldron","startTime":1334.97,"endTime":1339.38,"body":"Um, the, the odds are"},{"speaker":"Wally Waldron","startTime":1334.97,"endTime":1339.38,"body":"stacked against you and so."},{"speaker":"Wally Waldron","startTime":1340.3700000000001,"endTime":1344.27,"body":"I'm, I'm going to give, I'm gonna paint a,"},{"speaker":"Wally Waldron","startTime":1340.3700000000001,"endTime":1344.27,"body":"a broad stroke picture, uh, with, with a"},{"speaker":"Wally Waldron","startTime":1344.27,"endTime":1349.0700000000002,"body":"very specific person in mind to tell you,"},{"speaker":"Wally Waldron","startTime":1344.27,"endTime":1349.0700000000002,"body":"you know, one of these horror stories."},{"speaker":"Wally Waldron","startTime":1349.49,"endTime":1354.77,"body":"But, but here's these, the statistics are"},{"speaker":"Wally Waldron","startTime":1349.49,"endTime":1354.77,"body":"stacked against you, and really one of"},{"speaker":"Wally Waldron","startTime":1354.77,"endTime":1360.41,"body":"the reasons why we exist here at Ology is"},{"speaker":"Wally Waldron","startTime":1354.77,"endTime":1360.41,"body":"to push back against what is very hard."},{"speaker":"Wally Waldron","startTime":1360.5900000000001,"endTime":1364.3400000000001,"body":"It, it's very hard to achieve that"},{"speaker":"Wally Waldron","startTime":1360.5900000000001,"endTime":1364.3400000000001,"body":"perfect exit like we just, uh, described."},{"speaker":"Wally Waldron","startTime":1364.3400000000001,"endTime":1364.6100000000001,"body":"Right?"},{"speaker":"Wally Waldron","startTime":1365.48,"endTime":1370.79,"body":"In reality, what usually happens is"},{"speaker":"Wally Waldron","startTime":1365.48,"endTime":1370.79,"body":"if I walk into a room 40 engineer"},{"speaker":"Wally Waldron","startTime":1370.8500000000001,"endTime":1374.8700000000001,"body":"business own right, industrial engineer"},{"speaker":"Wally Waldron","startTime":1370.8500000000001,"endTime":1374.8700000000001,"body":"business owners who wants to exit in two"},{"speaker":"Wally Waldron","startTime":1374.8700000000001,"endTime":1376.5800000000002,"body":"years, they will all raise their hand."},{"speaker":"Wally Waldron","startTime":1376.5800000000002,"endTime":1377.1200000000001,"body":"Me."},{"speaker":"Wally Waldron","startTime":1377.18,"endTime":1378.23,"body":"Oh, that sounds great."},{"speaker":"Wally Waldron","startTime":1378.23,"endTime":1379.3700000000001,"body":"Oh, that's awesome."},{"speaker":"Wally Waldron","startTime":1379.3700000000001,"endTime":1379.94,"body":"Yeah."},{"speaker":"Wally Waldron","startTime":1379.94,"endTime":1380.54,"body":"Right on."},{"speaker":"Wally Waldron","startTime":1380.66,"endTime":1381.8,"body":"And here's the truth."},{"speaker":"Wally Waldron","startTime":1381.8,"endTime":1384.92,"body":"You don't have the first clue about"},{"speaker":"Wally Waldron","startTime":1381.8,"endTime":1384.92,"body":"what I just asked you, because"},{"speaker":"Wally Waldron","startTime":1384.92,"endTime":1387.41,"body":"I come back two years later and"},{"speaker":"Wally Waldron","startTime":1384.92,"endTime":1387.41,"body":"I ask you a different question."},{"speaker":"Wally Waldron","startTime":1388.22,"endTime":1392.03,"body":"happy and there's one person in"},{"speaker":"Wally Waldron","startTime":1388.22,"endTime":1392.03,"body":"the corner saying, I'm happy."},{"speaker":"Wally Waldron","startTime":1392.48,"endTime":1393.05,"body":"And they're happy."},{"speaker":"Wally Waldron","startTime":1393.05,"endTime":1396.6200000000001,"body":"'cause they're happy on a personal"},{"speaker":"Wally Waldron","startTime":1393.05,"endTime":1396.6200000000001,"body":"level, on a financial level, and they're"},{"speaker":"Wally Waldron","startTime":1396.6200000000001,"endTime":1398.63,"body":"happy with hap their business outcome."},{"speaker":"Wally Waldron","startTime":1399.47,"endTime":1403.73,"body":"There's seven other people who"},{"speaker":"Wally Waldron","startTime":1399.47,"endTime":1403.73,"body":"are happy one of those things, but"},{"speaker":"Wally Waldron","startTime":1403.73,"endTime":1405.29,"body":"they're experiencing profound regret."},{"speaker":"Wally Waldron","startTime":1405.77,"endTime":1406.8200000000002,"body":"That's exactly the word."},{"speaker":"Wally Waldron","startTime":1407.5700000000002,"endTime":1410.72,"body":"And we, at the Ex Planning Institute,"},{"speaker":"Wally Waldron","startTime":1407.5700000000002,"endTime":1410.72,"body":"we have the studies to back all of"},{"speaker":"Wally Waldron","startTime":1410.72,"endTime":1414.44,"body":"this up, and there are 32 people"},{"speaker":"Wally Waldron","startTime":1410.72,"endTime":1414.44,"body":"who have not even exited yet."},{"speaker":"Wally Waldron","startTime":1414.68,"endTime":1417.5900000000001,"body":"And so you have a one outta 40"},{"speaker":"Wally Waldron","startTime":1414.68,"endTime":1417.5900000000001,"body":"chance in doing this, right?"},{"speaker":"Wally Waldron","startTime":1417.8,"endTime":1421.4,"body":"And so important that we"},{"speaker":"Wally Waldron","startTime":1417.8,"endTime":1421.4,"body":"know what we're dealing with."},{"speaker":"Wally Waldron","startTime":1421.5800000000002,"endTime":1425.3,"body":"And, and, and now that, you know,"},{"speaker":"Wally Waldron","startTime":1421.5800000000002,"endTime":1425.3,"body":"you can't not know that, right?"},{"speaker":"Wally Waldron","startTime":1425.6000000000001,"endTime":1425.93,"body":"Uh, you."},{"speaker":"Wally Waldron","startTime":1426.605,"endTime":1427.595,"body":"and check my work."},{"speaker":"Wally Waldron","startTime":1427.625,"endTime":1430.415,"body":"Uh, look up the state of owner"},{"speaker":"Wally Waldron","startTime":1427.625,"endTime":1430.415,"body":"readiness surveys that have been"},{"speaker":"Wally Waldron","startTime":1430.415,"endTime":1432.9950000000001,"body":"done by the Exit Planning Institute"},{"speaker":"Wally Waldron","startTime":1430.415,"endTime":1432.9950000000001,"body":"over the last 10 plus years."},{"speaker":"Wally Waldron","startTime":1433.4750000000001,"endTime":1435.6950000000002,"body":"Um, you know, you can go"},{"speaker":"Wally Waldron","startTime":1433.4750000000001,"endTime":1435.6950000000002,"body":"and look it up yourself."},{"speaker":"Wally Waldron","startTime":1435.755,"endTime":1436.2350000000001,"body":"Please do."},{"speaker":"Wally Waldron","startTime":1436.2350000000001,"endTime":1436.775,"body":"In fact."},{"speaker":"Wally Waldron","startTime":1437.165,"endTime":1440.7050000000002,"body":"But the fact of the matter is you"},{"speaker":"Wally Waldron","startTime":1437.165,"endTime":1440.7050000000002,"body":"have a one 40 chance of doing this."},{"speaker":"Wally Waldron","startTime":1440.7050000000002,"endTime":1441.065,"body":"Right."},{"speaker":"Wally Waldron","startTime":1441.2450000000001,"endTime":1443.645,"body":"And so I'll, I'll give you an example."},{"speaker":"Wally Waldron","startTime":1443.825,"endTime":1453.095,"body":"Um, this is a company who, um, we worked"},{"speaker":"Wally Waldron","startTime":1443.825,"endTime":1453.095,"body":"with them from oh, for about 15 years and."},{"speaker":"Wally Waldron","startTime":1454.01,"endTime":1458.51,"body":"When we first came in there, um,"},{"speaker":"Wally Waldron","startTime":1454.01,"endTime":1458.51,"body":"going back to an earlier iteration of"},{"speaker":"Wally Waldron","startTime":1458.51,"endTime":1462.5,"body":"what is now ex tology, we were mostly"},{"speaker":"Wally Waldron","startTime":1458.51,"endTime":1462.5,"body":"doing, uh, workflow and operation"},{"speaker":"Wally Waldron","startTime":1462.5,"endTime":1465.68,"body":"support from more of an IT perspective."},{"speaker":"Wally Waldron","startTime":1465.89,"endTime":1471.74,"body":"And then, and then as time went on,"},{"speaker":"Wally Waldron","startTime":1465.89,"endTime":1471.74,"body":"expanded that into a full online marketing"},{"speaker":"Wally Waldron","startTime":1472.0700000000002,"endTime":1476.75,"body":"and, uh, SEO program and all these"},{"speaker":"Wally Waldron","startTime":1472.0700000000002,"endTime":1476.75,"body":"things to bring leads to this company."},{"speaker":"Wally Waldron","startTime":1476.96,"endTime":1481.55,"body":"Uh, we repositioned them, uh, from"},{"speaker":"Wally Waldron","startTime":1476.96,"endTime":1481.55,"body":"a marketing standpoint into, um."},{"speaker":"Wally Waldron","startTime":1482.8200000000002,"endTime":1486.305,"body":"A, a higher value offer and, and,"},{"speaker":"Wally Waldron","startTime":1482.8200000000002,"endTime":1486.305,"body":"you know, so we consulted all up,"},{"speaker":"Wally Waldron","startTime":1486.305,"endTime":1487.595,"body":"down, and all around is my point."},{"speaker":"Wally Waldron","startTime":1487.595,"endTime":1494.795,"body":"We knew this company very, very well"},{"speaker":"Wally Waldron","startTime":1487.595,"endTime":1494.795,"body":"unfortunately the owner, uh, did not have."},{"speaker":"Wally Waldron","startTime":1495.89,"endTime":1499.01,"body":"That long-term mindset, so"},{"speaker":"Wally Waldron","startTime":1495.89,"endTime":1499.01,"body":"the mindset of an investor."},{"speaker":"Wally Waldron","startTime":1499.19,"endTime":1503.81,"body":"And functionally what would happen"},{"speaker":"Wally Waldron","startTime":1499.19,"endTime":1503.81,"body":"is would get really, really excited"},{"speaker":"Wally Waldron","startTime":1503.81,"endTime":1509.06,"body":"about the early, bright shiny object"},{"speaker":"Wally Waldron","startTime":1503.81,"endTime":1509.06,"body":"was that we were talking about."},{"speaker":"Wally Waldron","startTime":1509.1200000000001,"endTime":1513.95,"body":"And we would go gangbusters on some"},{"speaker":"Wally Waldron","startTime":1509.1200000000001,"endTime":1513.95,"body":"project for nine months, and then the"},{"speaker":"Wally Waldron","startTime":1513.95,"endTime":1518.45,"body":"rug would be pulled and then we wouldn't"},{"speaker":"Wally Waldron","startTime":1513.95,"endTime":1518.45,"body":"hear from him for a year or two."},{"speaker":"Wally Waldron","startTime":1518.8700000000001,"endTime":1521.0900000000001,"body":"And then it was, oh hey, yeah."},{"speaker":"Wally Waldron","startTime":1521.9,"endTime":1525.5900000000001,"body":"do need to work on X, Y, and Z,"},{"speaker":"Wally Waldron","startTime":1521.9,"endTime":1525.5900000000001,"body":"and we go gangbusters again and."},{"speaker":"Wally Waldron","startTime":1526.49,"endTime":1530.69,"body":"If I had had my preference, uh, I"},{"speaker":"Wally Waldron","startTime":1526.49,"endTime":1530.69,"body":"would've much rather gone marathon"},{"speaker":"Wally Waldron","startTime":1530.69,"endTime":1534.44,"body":"pace for a much longer period of time"},{"speaker":"Wally Waldron","startTime":1530.69,"endTime":1534.44,"body":"instead of sprint pace and zero pace."},{"speaker":"Wally Waldron","startTime":1534.44,"endTime":1534.77,"body":"Right."},{"speaker":"Wally Waldron","startTime":1536.0900000000001,"endTime":1541.8500000000001,"body":"interestingly, um, sometime around"},{"speaker":"Wally Waldron","startTime":1536.0900000000001,"endTime":1541.8500000000001,"body":"2017, 18, when we were working on early"},{"speaker":"Wally Waldron","startTime":1541.8500000000001,"endTime":1545.42,"body":"versions of what became Exo tology,"},{"speaker":"Wally Waldron","startTime":1541.8500000000001,"endTime":1545.42,"body":"the book, I started putting a lot of"},{"speaker":"Wally Waldron","startTime":1545.42,"endTime":1549.14,"body":"concepts in front of this gentleman and"},{"speaker":"Wally Waldron","startTime":1545.42,"endTime":1549.14,"body":"one of those concepts, I remember him"},{"speaker":"Wally Waldron","startTime":1549.14,"endTime":1551.45,"body":"exactly after being presented to him was."},{"speaker":"Wally Waldron","startTime":1551.71,"endTime":1552.3700000000001,"body":"That won't work."},{"speaker":"Wally Waldron","startTime":1552.8200000000002,"endTime":1553.54,"body":"What else you got?"},{"speaker":"Wally Waldron","startTime":1554.3200000000002,"endTime":1558.3400000000001,"body":"And unfortunately, in a very short"},{"speaker":"Wally Waldron","startTime":1554.3200000000002,"endTime":1558.3400000000001,"body":"period of time, what I saw happen"},{"speaker":"Wally Waldron","startTime":1558.3400000000001,"endTime":1563.02,"body":"was the business lost control of"},{"speaker":"Wally Waldron","startTime":1558.3400000000001,"endTime":1563.02,"body":"clarity and control of its numbers."},{"speaker":"Wally Waldron","startTime":1563.5,"endTime":1568.18,"body":"The CFO jumped ship and a"},{"speaker":"Wally Waldron","startTime":1563.5,"endTime":1568.18,"body":"new one was brought in and"},{"speaker":"Wally Waldron","startTime":1568.18,"endTime":1569.5900000000001,"body":"essentially became a turf builder."},{"speaker":"Wally Waldron","startTime":1570.3400000000001,"endTime":1575.8,"body":"And she, rather than transparently"},{"speaker":"Wally Waldron","startTime":1570.3400000000001,"endTime":1575.8,"body":"owning the role of CFO, kind of had"},{"speaker":"Wally Waldron","startTime":1575.8,"endTime":1578.1100000000001,"body":"a little kingdom within the business."},{"speaker":"Wally Waldron","startTime":1578.53,"endTime":1580.18,"body":"At the same time, the business owner."},{"speaker":"Wally Waldron","startTime":1580.865,"endTime":1584.9450000000002,"body":"Uh, who was friends with his"},{"speaker":"Wally Waldron","startTime":1580.865,"endTime":1584.9450000000002,"body":"number one sales guy, right?"},{"speaker":"Wally Waldron","startTime":1584.9450000000002,"endTime":1585.9950000000001,"body":"Remember what we need here?"},{"speaker":"Wally Waldron","startTime":1586.2350000000001,"endTime":1587.315,"body":"We need a mindset."},{"speaker":"Wally Waldron","startTime":1587.525,"endTime":1588.395,"body":"We didn't have it."},{"speaker":"Wally Waldron","startTime":1588.785,"endTime":1591.095,"body":"The next thing is we need a"},{"speaker":"Wally Waldron","startTime":1588.785,"endTime":1591.095,"body":"high performing sales team."},{"speaker":"Wally Waldron","startTime":1591.425,"endTime":1595.175,"body":"Well, over the course of those few years,"},{"speaker":"Wally Waldron","startTime":1591.425,"endTime":1595.175,"body":"I saw him fire all of his salespeople"},{"speaker":"Wally Waldron","startTime":1595.175,"endTime":1596.765,"body":"except for the last remaining one."},{"speaker":"Wally Waldron","startTime":1597.005,"endTime":1600.035,"body":"And then the last remaining one"},{"speaker":"Wally Waldron","startTime":1597.005,"endTime":1600.035,"body":"got so mad at him for whatever"},{"speaker":"Wally Waldron","startTime":1600.035,"endTime":1604.145,"body":"reason that he essentially did, you"},{"speaker":"Wally Waldron","startTime":1600.035,"endTime":1604.145,"body":"know, the, let me lock the keys in"},{"speaker":"Wally Waldron","startTime":1604.145,"endTime":1605.7050000000002,"body":"the desk and then get outta here."},{"speaker":"Wally Waldron","startTime":1606.095,"endTime":1607.355,"body":"So, and we're talking."},{"speaker":"Wally Waldron","startTime":1607.7450000000001,"endTime":1609.2450000000001,"body":"Someone who we went to college with."},{"speaker":"Wally Waldron","startTime":1609.2450000000001,"endTime":1613.145,"body":"So whatever they were mad about,"},{"speaker":"Wally Waldron","startTime":1609.2450000000001,"endTime":1613.145,"body":"this is like bitter old woman"},{"speaker":"Wally Waldron","startTime":1613.535,"endTime":1615.005,"body":"fighting type stuff, right?"},{"speaker":"Wally Waldron","startTime":1615.065,"endTime":1615.9650000000001,"body":"Even though it was two dudes."},{"speaker":"Wally Waldron","startTime":1616.085,"endTime":1620.2250000000001,"body":"And so, um, sorry, uh, not very"},{"speaker":"Wally Waldron","startTime":1616.085,"endTime":1620.2250000000001,"body":"PC in anything I just said there,"},{"speaker":"Wally Waldron","startTime":1620.2250000000001,"endTime":1625.115,"body":"but the, uh, what I'm speaking to"},{"speaker":"Wally Waldron","startTime":1620.2250000000001,"endTime":1625.115,"body":"though is, you know, disagreement."},{"speaker":"Wally Waldron","startTime":1625.175,"endTime":1626.89,"body":"That's one of the five"},{"speaker":"Wally Waldron","startTime":1625.175,"endTime":1626.89,"body":"D's that kills business."},{"speaker":"Wally Waldron","startTime":1627.065,"endTime":1630.575,"body":"You divorce, I talked about a"},{"speaker":"Wally Waldron","startTime":1627.065,"endTime":1630.575,"body":"friendship, divorce, basically, right?"},{"speaker":"Wally Waldron","startTime":1631.055,"endTime":1633.875,"body":"Um, fortunately I did not"},{"speaker":"Wally Waldron","startTime":1631.055,"endTime":1633.875,"body":"talk about disability."},{"speaker":"Wally Waldron","startTime":1634.115,"endTime":1637.9850000000001,"body":"Um, but I saw multiple people"},{"speaker":"Wally Waldron","startTime":1634.115,"endTime":1637.9850000000001,"body":"working in this business, including"},{"speaker":"Wally Waldron","startTime":1637.9850000000001,"endTime":1639.7250000000001,"body":"the owner, go through disease."},{"speaker":"Wally Waldron","startTime":1640.115,"endTime":1644.9450000000002,"body":"Uh, nobody died to my knowledge,"},{"speaker":"Wally Waldron","startTime":1640.115,"endTime":1644.9450000000002,"body":"although death can sneak up"},{"speaker":"Wally Waldron","startTime":1644.9450000000002,"endTime":1645.9950000000001,"body":"on you and that's not good."},{"speaker":"Wally Waldron","startTime":1646.055,"endTime":1649.535,"body":"And I'll, I'll add a sixth,"},{"speaker":"Wally Waldron","startTime":1646.055,"endTime":1649.535,"body":"sixth one that you'll gotta watch"},{"speaker":"Wally Waldron","startTime":1649.535,"endTime":1650.675,"body":"out for and that's disruption."},{"speaker":"Wally Waldron","startTime":1651.335,"endTime":1656.675,"body":"And so, um, this business was limping"},{"speaker":"Wally Waldron","startTime":1651.335,"endTime":1656.675,"body":"along with all of these problems going."},{"speaker":"Wally Waldron","startTime":1658.0700000000002,"endTime":1659.1200000000001,"body":"and then COVID hit."},{"speaker":"Wally Waldron","startTime":1659.3,"endTime":1663.17,"body":"And the last time I talked to this"},{"speaker":"Wally Waldron","startTime":1659.3,"endTime":1663.17,"body":"business owner, uh, he did not live"},{"speaker":"Wally Waldron","startTime":1663.26,"endTime":1668.15,"body":"anywhere near, uh, where he used to"},{"speaker":"Wally Waldron","startTime":1663.26,"endTime":1668.15,"body":"live be, which was a beautiful place."},{"speaker":"Wally Waldron","startTime":1668.18,"endTime":1672.17,"body":"He was sad and working"},{"speaker":"Wally Waldron","startTime":1668.18,"endTime":1672.17,"body":"for someone else, and."},{"speaker":"Wally Waldron","startTime":1672.845,"endTime":1675.875,"body":"You know, the bank, as far as"},{"speaker":"Wally Waldron","startTime":1672.845,"endTime":1675.875,"body":"I know, the bank is just owed a"},{"speaker":"Wally Waldron","startTime":1675.875,"endTime":1677.885,"body":"whole bunch of money that he's"},{"speaker":"Wally Waldron","startTime":1675.875,"endTime":1677.885,"body":"gonna pay off the rest of his life."},{"speaker":"Aaron Moncur","startTime":1678.31,"endTime":1678.43,"body":"Hmm."},{"speaker":"Wally Waldron","startTime":1679.265,"endTime":1680.4950000000001,"body":"it was, it was bad, man."},{"speaker":"Wally Waldron","startTime":1680.765,"endTime":1681.605,"body":"Um, I don't know."},{"speaker":"Wally Waldron","startTime":1681.635,"endTime":1682.655,"body":"There's no technical term."},{"speaker":"Wally Waldron","startTime":1682.655,"endTime":1686.1950000000002,"body":"It was, it was like on a human"},{"speaker":"Wally Waldron","startTime":1682.655,"endTime":1686.1950000000002,"body":"tragedy level, it was really bad."},{"speaker":"Aaron Moncur","startTime":1686.78,"endTime":1687.0800000000002,"body":"Yeah."},{"speaker":"Wally Waldron","startTime":1687.395,"endTime":1691.295,"body":"and so, so I hope,"},{"speaker":"Wally Waldron","startTime":1687.395,"endTime":1691.295,"body":"um, for the listeners out there,"},{"speaker":"Wally Waldron","startTime":1691.775,"endTime":1694.775,"body":"you know, we're, when we're"},{"speaker":"Wally Waldron","startTime":1691.775,"endTime":1694.775,"body":"thinking engineer minded, right?"},{"speaker":"Wally Waldron","startTime":1694.775,"endTime":1698.615,"body":"It's like let's invert all"},{"speaker":"Wally Waldron","startTime":1694.775,"endTime":1698.615,"body":"of that in that story and."},{"speaker":"Wally Waldron","startTime":1699.47,"endTime":1700.43,"body":"options, right?"},{"speaker":"Wally Waldron","startTime":1700.52,"endTime":1702.5900000000001,"body":"Let's, let's support our"},{"speaker":"Wally Waldron","startTime":1700.52,"endTime":1702.5900000000001,"body":"lives through our business."},{"speaker":"Wally Waldron","startTime":1702.5900000000001,"endTime":1706.22,"body":"Let's not accidentally go too far"},{"speaker":"Wally Waldron","startTime":1702.5900000000001,"endTime":1706.22,"body":"down the minor hole to find out"},{"speaker":"Wally Waldron","startTime":1706.22,"endTime":1708.335,"body":"that roof is collapsing in on us."},{"speaker":"Aaron Moncur","startTime":1708.935,"endTime":1709.295,"body":"Yeah."},{"speaker":"Aaron Moncur","startTime":1709.415,"endTime":1711.935,"body":"And that takes some,"},{"speaker":"Aaron Moncur","startTime":1709.415,"endTime":1711.935,"body":"some discipline, right?"},{"speaker":"Aaron Moncur","startTime":1711.935,"endTime":1715.175,"body":"I remember a long time ago, I don't"},{"speaker":"Aaron Moncur","startTime":1711.935,"endTime":1715.175,"body":"remember where I saw this, but it"},{"speaker":"Aaron Moncur","startTime":1715.175,"endTime":1718.385,"body":"was a very, very simple image of"},{"speaker":"Aaron Moncur","startTime":1715.175,"endTime":1718.385,"body":"two funnels next to each other."},{"speaker":"Aaron Moncur","startTime":1718.625,"endTime":1723.2150000000001,"body":"And the, the, the funnel on the left"},{"speaker":"Aaron Moncur","startTime":1718.625,"endTime":1723.2150000000001,"body":"had, um, a very wide opening on top,"},{"speaker":"Aaron Moncur","startTime":1723.2150000000001,"endTime":1724.925,"body":"and then the narrow opening on bottom."},{"speaker":"Aaron Moncur","startTime":1725.435,"endTime":1727.115,"body":"The funnel on the right was flipped."},{"speaker":"Aaron Moncur","startTime":1727.115,"endTime":1727.895,"body":"It was the opposite."},{"speaker":"Aaron Moncur","startTime":1727.895,"endTime":1730.595,"body":"It very narrow on the top,"},{"speaker":"Aaron Moncur","startTime":1727.895,"endTime":1730.595,"body":"very wide on the bottom."},{"speaker":"Aaron Moncur","startTime":1730.865,"endTime":1736.9550000000002,"body":"And the, uh, what this image was, was"},{"speaker":"Aaron Moncur","startTime":1730.865,"endTime":1736.9550000000002,"body":"trying to convey is, uh, I think you"},{"speaker":"Aaron Moncur","startTime":1736.9550000000002,"endTime":1741.305,"body":"could apply it to a lot of different"},{"speaker":"Aaron Moncur","startTime":1736.9550000000002,"endTime":1741.305,"body":"things, but if you're, you're disciplined."},{"speaker":"Aaron Moncur","startTime":1741.8200000000002,"endTime":1744.91,"body":"Um, so looking at the right side"},{"speaker":"Aaron Moncur","startTime":1741.8200000000002,"endTime":1744.91,"body":"image, right, you, you have a"},{"speaker":"Aaron Moncur","startTime":1744.91,"endTime":1746.56,"body":"very narrow beginning, right?"},{"speaker":"Aaron Moncur","startTime":1746.74,"endTime":1749.47,"body":"You're operating within"},{"speaker":"Aaron Moncur","startTime":1746.74,"endTime":1749.47,"body":"pretty disciplined boundaries"},{"speaker":"Wally Waldron","startTime":1749.525,"endTime":1749.795,"body":"Yep."},{"speaker":"Aaron Moncur","startTime":1749.8,"endTime":1754.03,"body":"that eventually leads"},{"speaker":"Aaron Moncur","startTime":1749.8,"endTime":1754.03,"body":"to a much wider bottom or future with"},{"speaker":"Aaron Moncur","startTime":1754.03,"endTime":1757.75,"body":"a lot of options versus the other one"},{"speaker":"Aaron Moncur","startTime":1754.03,"endTime":1757.75,"body":"where, you know, I'm, I'm doing whatever."},{"speaker":"Aaron Moncur","startTime":1757.75,"endTime":1759.7,"body":"I feel like I've got all these options."},{"speaker":"Aaron Moncur","startTime":1759.7,"endTime":1762.97,"body":"In the beginning, it feels like"},{"speaker":"Aaron Moncur","startTime":1759.7,"endTime":1762.97,"body":"everything's great pretty quickly"},{"speaker":"Aaron Moncur","startTime":1762.97,"endTime":1767.56,"body":"that that funnels down to a very, very"},{"speaker":"Aaron Moncur","startTime":1762.97,"endTime":1767.56,"body":"narrow set of limitations that all of"},{"speaker":"Aaron Moncur","startTime":1767.56,"endTime":1769.45,"body":"a sudden you have to live, live within."},{"speaker":"Aaron Moncur","startTime":1769.8700000000001,"endTime":1770.14,"body":"Um."},{"speaker":"Aaron Moncur","startTime":1771.415,"endTime":1777.0800000000002,"body":"You, you, you've talked about how"},{"speaker":"Aaron Moncur","startTime":1771.415,"endTime":1777.0800000000002,"body":"80% of a business owner's wealth is,"},{"speaker":"Aaron Moncur","startTime":1777.0800000000002,"endTime":1779.93,"body":"is often trapped inside the company."},{"speaker":"Aaron Moncur","startTime":1779.93,"endTime":1782.18,"body":"What, uh, talk about that a little bit."},{"speaker":"Aaron Moncur","startTime":1782.18,"endTime":1783.17,"body":"What, what does that mean?"},{"speaker":"Aaron Moncur","startTime":1783.23,"endTime":1784.3700000000001,"body":"How do they unstrap it?"},{"speaker":"Wally Waldron","startTime":1784.97,"endTime":1785.9,"body":"Yeah, for sure."},{"speaker":"Wally Waldron","startTime":1785.9,"endTime":1790.3700000000001,"body":"So, so again, I'm relying on the,"},{"speaker":"Wally Waldron","startTime":1785.9,"endTime":1790.3700000000001,"body":"the state of owner readiness surveys"},{"speaker":"Wally Waldron","startTime":1790.3700000000001,"endTime":1794.96,"body":"that, um, so, so I, I, I, I, I should"},{"speaker":"Wally Waldron","startTime":1790.3700000000001,"endTime":1794.96,"body":"enlighten everybody on that a little bit."},{"speaker":"Wally Waldron","startTime":1794.96,"endTime":1799.73,"body":"So, um, not only do I run a company"},{"speaker":"Wally Waldron","startTime":1794.96,"endTime":1799.73,"body":"called Ology, but I personally hold a"},{"speaker":"Wally Waldron","startTime":1799.73,"endTime":1802.88,"body":"designation that's called the Certified"},{"speaker":"Wally Waldron","startTime":1799.73,"endTime":1802.88,"body":"Exit Planning Advisor designation."},{"speaker":"Wally Waldron","startTime":1804.2450000000001,"endTime":1808.655,"body":"the reason that's important is that, uh,"},{"speaker":"Wally Waldron","startTime":1804.2450000000001,"endTime":1808.655,"body":"SEPAs, as they're called, they, they are"},{"speaker":"Wally Waldron","startTime":1808.655,"endTime":1813.635,"body":"taught to follow a methodology called"},{"speaker":"Wally Waldron","startTime":1808.655,"endTime":1813.635,"body":"the value acceleration methodology."},{"speaker":"Wally Waldron","startTime":1813.9950000000001,"endTime":1818.165,"body":"And it's, it's important because"},{"speaker":"Wally Waldron","startTime":1813.9950000000001,"endTime":1818.165,"body":"there's actually a concept of the"},{"speaker":"Wally Waldron","startTime":1818.165,"endTime":1821.345,"body":"three legs of the stool where you want"},{"speaker":"Wally Waldron","startTime":1818.165,"endTime":1821.345,"body":"to get aligned as a business owner."},{"speaker":"Wally Waldron","startTime":1822.035,"endTime":1824.435,"body":"Um, and so the three legs"},{"speaker":"Wally Waldron","startTime":1822.035,"endTime":1824.435,"body":"of the stool look like this."},{"speaker":"Wally Waldron","startTime":1824.675,"endTime":1825.9650000000001,"body":"Am I aligned?"},{"speaker":"Wally Waldron","startTime":1826.73,"endTime":1829.52,"body":"In my business, financial"},{"speaker":"Wally Waldron","startTime":1826.73,"endTime":1829.52,"body":"and personal goals."},{"speaker":"Wally Waldron","startTime":1830.0,"endTime":1831.53,"body":"So the first thing is goal alignment."},{"speaker":"Wally Waldron","startTime":1831.95,"endTime":1836.5700000000002,"body":"And the reason I mention this larger world"},{"speaker":"Wally Waldron","startTime":1831.95,"endTime":1836.5700000000002,"body":"of the certified exit planning advisor"},{"speaker":"Wally Waldron","startTime":1836.5700000000002,"endTime":1842.54,"body":"is because if you, if you go through this"},{"speaker":"Wally Waldron","startTime":1836.5700000000002,"endTime":1842.54,"body":"process by the book, then you actually"},{"speaker":"Wally Waldron","startTime":1842.54,"endTime":1844.1000000000001,"body":"go through two journeys at the same time."},{"speaker":"Wally Waldron","startTime":1844.1000000000001,"endTime":1847.31,"body":"You go through the personal"},{"speaker":"Wally Waldron","startTime":1844.1000000000001,"endTime":1847.31,"body":"journey and you go through."},{"speaker":"Wally Waldron","startTime":1847.97,"endTime":1852.1100000000001,"body":"The business journey, at the end of"},{"speaker":"Wally Waldron","startTime":1847.97,"endTime":1852.1100000000001,"body":"the personal and business journey,"},{"speaker":"Wally Waldron","startTime":1852.3200000000002,"endTime":1856.19,"body":"you should go from where your person"},{"speaker":"Wally Waldron","startTime":1852.3200000000002,"endTime":1856.19,"body":"and your business is super intertwined"},{"speaker":"Wally Waldron","startTime":1856.6100000000001,"endTime":1858.65,"body":"to where your personal and your"},{"speaker":"Wally Waldron","startTime":1856.6100000000001,"endTime":1858.65,"body":"business are completely separate."},{"speaker":"Wally Waldron","startTime":1859.3700000000001,"endTime":1862.3700000000001,"body":"And so we call that decentralization"},{"speaker":"Wally Waldron","startTime":1859.3700000000001,"endTime":1862.3700000000001,"body":"of the business owner."},{"speaker":"Wally Waldron","startTime":1863.6000000000001,"endTime":1868.01,"body":"the concept here is first I"},{"speaker":"Wally Waldron","startTime":1863.6000000000001,"endTime":1868.01,"body":"identify as a, as a person."},{"speaker":"Wally Waldron","startTime":1869.3300000000002,"endTime":1870.5,"body":"What my wealth gap is."},{"speaker":"Wally Waldron","startTime":1870.6200000000001,"endTime":1876.98,"body":"And so, uh, the easy way to do that is"},{"speaker":"Wally Waldron","startTime":1870.6200000000001,"endTime":1876.98,"body":"take whatever the top line of income is"},{"speaker":"Wally Waldron","startTime":1876.98,"endTime":1881.15,"body":"that you personally need to live on every"},{"speaker":"Wally Waldron","startTime":1876.98,"endTime":1881.15,"body":"single year and, and do that before taxes."},{"speaker":"Wally Waldron","startTime":1881.15,"endTime":1884.03,"body":"So let's pretend it's a hundred"},{"speaker":"Wally Waldron","startTime":1881.15,"endTime":1884.03,"body":"thousand dollars just for the,"},{"speaker":"Wally Waldron","startTime":1884.72,"endTime":1886.19,"body":"know, a, a number to work with."},{"speaker":"Wally Waldron","startTime":1886.31,"endTime":1888.05,"body":"And then times that by 25."},{"speaker":"Wally Waldron","startTime":1888.7250000000001,"endTime":1891.4850000000001,"body":"So in that illustration,"},{"speaker":"Wally Waldron","startTime":1888.7250000000001,"endTime":1891.4850000000001,"body":"that would be $2.5 million."},{"speaker":"Wally Waldron","startTime":1892.175,"endTime":1897.155,"body":"then ask yourself, do I, or do I not"},{"speaker":"Wally Waldron","startTime":1892.175,"endTime":1897.155,"body":"have that amount of money separated"},{"speaker":"Wally Waldron","startTime":1897.155,"endTime":1902.555,"body":"out from my business, working for"},{"speaker":"Wally Waldron","startTime":1897.155,"endTime":1902.555,"body":"me to basically create runway that I"},{"speaker":"Wally Waldron","startTime":1902.555,"endTime":1903.905,"body":"can live off of the rest of my life?"},{"speaker":"Wally Waldron","startTime":1904.895,"endTime":1906.755,"body":"that's your first calculation"},{"speaker":"Wally Waldron","startTime":1904.895,"endTime":1906.755,"body":"is your wealth gap."},{"speaker":"Wally Waldron","startTime":1907.145,"endTime":1908.165,"body":"But more importantly."},{"speaker":"Wally Waldron","startTime":1909.845,"endTime":1911.345,"body":"What is the business value today?"},{"speaker":"Wally Waldron","startTime":1912.2150000000001,"endTime":1916.835,"body":"Because if you can figure out how to"},{"speaker":"Wally Waldron","startTime":1912.2150000000001,"endTime":1916.835,"body":"look at your business as if it's part of"},{"speaker":"Wally Waldron","startTime":1916.835,"endTime":1920.525,"body":"your personal wealth portfolio, and this"},{"speaker":"Wally Waldron","startTime":1916.835,"endTime":1920.525,"body":"comes back to that whole mindset of an"},{"speaker":"Wally Waldron","startTime":1920.525,"endTime":1926.4950000000001,"body":"investor, very likely you can start to"},{"speaker":"Wally Waldron","startTime":1920.525,"endTime":1926.4950000000001,"body":"see how to manage all of your efforts in"},{"speaker":"Wally Waldron","startTime":1926.4950000000001,"endTime":1932.105,"body":"a way that can create enterprise value"},{"speaker":"Wally Waldron","startTime":1926.4950000000001,"endTime":1932.105,"body":"and then transferable value eventually."},{"speaker":"Wally Waldron","startTime":1932.855,"endTime":1936.425,"body":"so you might find out,"},{"speaker":"Wally Waldron","startTime":1932.855,"endTime":1936.425,"body":"Hey, I'm, I'm short."},{"speaker":"Wally Waldron","startTime":1936.875,"endTime":1938.675,"body":"$1.5 million here."},{"speaker":"Wally Waldron","startTime":1939.095,"endTime":1943.535,"body":"Okay, well, you probably need a business"},{"speaker":"Wally Waldron","startTime":1939.095,"endTime":1943.535,"body":"that's worth at least $2.5 million"},{"speaker":"Wally Waldron","startTime":1943.535,"endTime":1948.515,"body":"then so that the tax man can come and"},{"speaker":"Wally Waldron","startTime":1943.535,"endTime":1948.515,"body":"take his cut, and then you can exit"},{"speaker":"Wally Waldron","startTime":1948.515,"endTime":1951.035,"body":"on your own terms with that money and."},{"speaker":"Wally Waldron","startTime":1951.77,"endTime":1954.47,"body":"Again, I'm just using very"},{"speaker":"Wally Waldron","startTime":1951.77,"endTime":1954.47,"body":"easy to think about numbers."},{"speaker":"Wally Waldron","startTime":1954.5,"endTime":1958.3400000000001,"body":"Oftentimes, they're gonna be a lot"},{"speaker":"Wally Waldron","startTime":1954.5,"endTime":1958.3400000000001,"body":"higher than these numbers, but the point"},{"speaker":"Wally Waldron","startTime":1958.3400000000001,"endTime":1963.2,"body":"being, once you can start to look at your"},{"speaker":"Wally Waldron","startTime":1958.3400000000001,"endTime":1963.2,"body":"business value on the one hand as part of"},{"speaker":"Wally Waldron","startTime":1963.2,"endTime":1967.64,"body":"your, uh, financial plan, and then look at"},{"speaker":"Wally Waldron","startTime":1963.2,"endTime":1967.64,"body":"it against your personal financial plan,"},{"speaker":"Wally Waldron","startTime":1967.88,"endTime":1972.8,"body":"you can start to figure out how much one"},{"speaker":"Wally Waldron","startTime":1967.88,"endTime":1972.8,"body":"is worth and how much one could be worth."},{"speaker":"Wally Waldron","startTime":1972.95,"endTime":1975.05,"body":"And that is, what's my"},{"speaker":"Wally Waldron","startTime":1972.95,"endTime":1975.05,"body":"business value today?"},{"speaker":"Wally Waldron","startTime":1975.47,"endTime":1977.51,"body":"What could it be worth"},{"speaker":"Wally Waldron","startTime":1975.47,"endTime":1977.51,"body":"three years from now?"},{"speaker":"Wally Waldron","startTime":1978.14,"endTime":1978.8300000000002,"body":"And so."},{"speaker":"Wally Waldron","startTime":1979.085,"endTime":1980.7050000000002,"body":"That's, that's the first step."},{"speaker":"Wally Waldron","startTime":1981.095,"endTime":1983.405,"body":"And the idea here is."},{"speaker":"Wally Waldron","startTime":1983.795,"endTime":1990.155,"body":"That there is $17 trillion of enterprise"},{"speaker":"Wally Waldron","startTime":1983.795,"endTime":1990.155,"body":"value, business value that is sitting in"},{"speaker":"Wally Waldron","startTime":1990.155,"endTime":1995.375,"body":"privately owned businesses today and over"},{"speaker":"Wally Waldron","startTime":1990.155,"endTime":1995.375,"body":"the years, as we look at these businesses,"},{"speaker":"Wally Waldron","startTime":1995.375,"endTime":1999.185,"body":"it's very common that the business"},{"speaker":"Wally Waldron","startTime":1995.375,"endTime":1999.185,"body":"owner will have about 80% of their"},{"speaker":"Wally Waldron","startTime":1999.185,"endTime":2001.915,"body":"personal wealth trapped in that business."},{"speaker":"Wally Waldron","startTime":2001.9450000000002,"endTime":2005.605,"body":"And that's because they're so intertwined"},{"speaker":"Wally Waldron","startTime":2001.9450000000002,"endTime":2005.605,"body":"bringing that back to the square one."},{"speaker":"Wally Waldron","startTime":2005.605,"endTime":2009.805,"body":"So if we can decentralize the"},{"speaker":"Wally Waldron","startTime":2005.605,"endTime":2009.805,"body":"business owner and build a business."},{"speaker":"Wally Waldron","startTime":2009.865,"endTime":2011.7250000000001,"body":"That ultimately gives them options."},{"speaker":"Wally Waldron","startTime":2012.565,"endTime":2018.415,"body":"is where, uh, instance, um, you know, we"},{"speaker":"Wally Waldron","startTime":2012.565,"endTime":2018.415,"body":"talk about creating a passive business"},{"speaker":"Wally Waldron","startTime":2018.415,"endTime":2019.825,"body":"with the business you already own."},{"speaker":"Wally Waldron","startTime":2020.845,"endTime":2021.7450000000001,"body":"What is that really?"},{"speaker":"Wally Waldron","startTime":2022.2250000000001,"endTime":2023.6950000000002,"body":"That's called becoming a chairperson."},{"speaker":"Wally Waldron","startTime":2024.385,"endTime":2027.7150000000001,"body":"You can still, right, let's have,"},{"speaker":"Wally Waldron","startTime":2024.385,"endTime":2027.7150000000001,"body":"let's have the business run."},{"speaker":"Wally Waldron","startTime":2028.4650000000001,"endTime":2032.275,"body":"have you ease into the next phase of"},{"speaker":"Wally Waldron","startTime":2028.4650000000001,"endTime":2032.275,"body":"your life so you don't freak out so"},{"speaker":"Wally Waldron","startTime":2032.275,"endTime":2034.045,"body":"that you don't have profound regret."},{"speaker":"Wally Waldron","startTime":2034.4950000000001,"endTime":2036.925,"body":"You can still manage your"},{"speaker":"Wally Waldron","startTime":2034.4950000000001,"endTime":2036.925,"body":"baby over here and then."},{"speaker":"Wally Waldron","startTime":2037.27,"endTime":2039.52,"body":"Buy yourself time to"},{"speaker":"Wally Waldron","startTime":2037.27,"endTime":2039.52,"body":"figure out your next phase."},{"speaker":"Wally Waldron","startTime":2039.67,"endTime":2043.66,"body":"And so there's a lot of ways to do this,"},{"speaker":"Wally Waldron","startTime":2039.67,"endTime":2043.66,"body":"but the most important thing is to first"},{"speaker":"Wally Waldron","startTime":2044.05,"endTime":2046.27,"body":"identify very clearly where you are."},{"speaker":"Aaron Moncur","startTime":2048.52,"endTime":2053.32,"body":"I have heard that"},{"speaker":"Aaron Moncur","startTime":2048.52,"endTime":2053.32,"body":"manufacturing businesses will often"},{"speaker":"Aaron Moncur","startTime":2053.32,"endTime":2055.66,"body":"sell for three to five times ebitda."},{"speaker":"Aaron Moncur","startTime":2056.56,"endTime":2061.06,"body":"I'm sure this is also, it depends,"},{"speaker":"Aaron Moncur","startTime":2056.56,"endTime":2061.06,"body":"but generally speaking, is that range"},{"speaker":"Aaron Moncur","startTime":2061.09,"endTime":2065.95,"body":"roughly accurate or have you seen"},{"speaker":"Aaron Moncur","startTime":2061.09,"endTime":2065.95,"body":"vastly different, um, multipliers."},{"speaker":"Wally Waldron","startTime":2066.895,"endTime":2070.555,"body":"Yeah, so, so it"},{"speaker":"Wally Waldron","startTime":2066.895,"endTime":2070.555,"body":"depends as it always does, but,"},{"speaker":"Wally Waldron","startTime":2070.585,"endTime":2072.235,"body":"but what does it depend on?"},{"speaker":"Wally Waldron","startTime":2072.235,"endTime":2075.625,"body":"So what you described there"},{"speaker":"Wally Waldron","startTime":2072.235,"endTime":2075.625,"body":"is, is where you see a lot of"},{"speaker":"Wally Waldron","startTime":2075.625,"endTime":2077.665,"body":"these companies, uh, end up."},{"speaker":"Wally Waldron","startTime":2078.115,"endTime":2081.085,"body":"But, but let's, let's break it"},{"speaker":"Wally Waldron","startTime":2078.115,"endTime":2081.085,"body":"down here for a second, because."},{"speaker":"Wally Waldron","startTime":2082.21,"endTime":2085.27,"body":"E EBITDA is just one"},{"speaker":"Wally Waldron","startTime":2082.21,"endTime":2085.27,"body":"part of the whole story."},{"speaker":"Wally Waldron","startTime":2085.2999999999997,"endTime":2089.5299999999997,"body":"And so the first thing that we wanna look"},{"speaker":"Wally Waldron","startTime":2085.2999999999997,"endTime":2089.5299999999997,"body":"at is what's called your tangible value."},{"speaker":"Wally Waldron","startTime":2090.0099999999998,"endTime":2091.5099999999998,"body":"And that one's pretty easy to figure out."},{"speaker":"Wally Waldron","startTime":2092.26,"endTime":2096.04,"body":"Let's take the last three years"},{"speaker":"Wally Waldron","startTime":2092.26,"endTime":2096.04,"body":"of your p and l. Let's recast it"},{"speaker":"Wally Waldron","startTime":2096.04,"endTime":2097.87,"body":"the way an outside investor would."},{"speaker":"Wally Waldron","startTime":2097.93,"endTime":2100.93,"body":"So that means if you're buying"},{"speaker":"Wally Waldron","startTime":2097.93,"endTime":2100.93,"body":"cars through the business that."},{"speaker":"Wally Waldron","startTime":2101.605,"endTime":2105.775,"body":"Our expensive the tax man"},{"speaker":"Wally Waldron","startTime":2101.605,"endTime":2105.775,"body":"or the tax accountant said,"},{"speaker":"Wally Waldron","startTime":2105.895,"endTime":2106.945,"body":"you should take a write off."},{"speaker":"Wally Waldron","startTime":2107.335,"endTime":2110.275,"body":"We might adjust it so that it's"},{"speaker":"Wally Waldron","startTime":2107.335,"endTime":2110.275,"body":"more reasonable and stuff like that."},{"speaker":"Wally Waldron","startTime":2110.275,"endTime":2110.545,"body":"Right?"},{"speaker":"Wally Waldron","startTime":2110.995,"endTime":2114.265,"body":"And, uh, just so you know, there's"},{"speaker":"Wally Waldron","startTime":2110.995,"endTime":2114.265,"body":"no harm and no foul in doing that."},{"speaker":"Wally Waldron","startTime":2114.265,"endTime":2118.285,"body":"It's, it's a wonderful part of the whole"},{"speaker":"Wally Waldron","startTime":2114.265,"endTime":2118.285,"body":"system, but at the end of the day, you"},{"speaker":"Wally Waldron","startTime":2118.285,"endTime":2122.245,"body":"want an accurate picture of, of that"},{"speaker":"Wally Waldron","startTime":2118.285,"endTime":2122.245,"body":"recasted EBITDA as a starting point."},{"speaker":"Wally Waldron","startTime":2122.335,"endTime":2125.635,"body":"But much more importantly, we"},{"speaker":"Wally Waldron","startTime":2122.335,"endTime":2125.635,"body":"want to analyze the business"},{"speaker":"Wally Waldron","startTime":2125.635,"endTime":2126.8650000000002,"body":"for all the intangibles."},{"speaker":"Wally Waldron","startTime":2127.015,"endTime":2129.145,"body":"So we're looking at structural capital."},{"speaker":"Wally Waldron","startTime":2130.21,"endTime":2132.31,"body":"How does the business run"},{"speaker":"Wally Waldron","startTime":2130.21,"endTime":2132.31,"body":"from management rhythms?"},{"speaker":"Wally Waldron","startTime":2132.31,"endTime":2133.57,"body":"What does the org chart look like?"},{"speaker":"Wally Waldron","startTime":2133.57,"endTime":2134.56,"body":"Things of that nature."},{"speaker":"Wally Waldron","startTime":2135.01,"endTime":2138.25,"body":"Um, what does the social"},{"speaker":"Wally Waldron","startTime":2135.01,"endTime":2138.25,"body":"capital look like?"},{"speaker":"Wally Waldron","startTime":2138.61,"endTime":2142.21,"body":"What's your branding look like and how"},{"speaker":"Wally Waldron","startTime":2138.61,"endTime":2142.21,"body":"do people feel about it on the outside?"},{"speaker":"Wally Waldron","startTime":2142.66,"endTime":2145.75,"body":"What's it like to walk through the halls"},{"speaker":"Wally Waldron","startTime":2142.66,"endTime":2145.75,"body":"and actually work there on the inside?"},{"speaker":"Wally Waldron","startTime":2147.46,"endTime":2150.37,"body":"That's an important question and there"},{"speaker":"Wally Waldron","startTime":2147.46,"endTime":2150.37,"body":"are ways to quantify these things."},{"speaker":"Wally Waldron","startTime":2150.52,"endTime":2151.03,"body":"Um."},{"speaker":"Wally Waldron","startTime":2151.51,"endTime":2153.94,"body":"What does your customer capital look like?"},{"speaker":"Wally Waldron","startTime":2154.0,"endTime":2157.9900000000002,"body":"And, uh, one, one of the things that"},{"speaker":"Wally Waldron","startTime":2154.0,"endTime":2157.9900000000002,"body":"I would absolutely want to leave"},{"speaker":"Wally Waldron","startTime":2157.9900000000002,"endTime":2161.86,"body":"with the listeners here today is"},{"speaker":"Wally Waldron","startTime":2157.9900000000002,"endTime":2161.86,"body":"if you have a single customer that"},{"speaker":"Wally Waldron","startTime":2161.86,"endTime":2163.81,"body":"represents over 20% of your revenue."},{"speaker":"Wally Waldron","startTime":2164.56,"endTime":2168.07,"body":"That's customer, client, um,"},{"speaker":"Wally Waldron","startTime":2164.56,"endTime":2168.07,"body":"client concentration risk."},{"speaker":"Wally Waldron","startTime":2168.4900000000002,"endTime":2170.26,"body":"And it's a giant risk."},{"speaker":"Wally Waldron","startTime":2170.32,"endTime":2175.93,"body":"And if, if you hear nothing else from"},{"speaker":"Wally Waldron","startTime":2170.32,"endTime":2175.93,"body":"this, from this, uh, podcast today,"},{"speaker":"Wally Waldron","startTime":2176.17,"endTime":2179.11,"body":"that's, that's the first thing you're"},{"speaker":"Wally Waldron","startTime":2176.17,"endTime":2179.11,"body":"gonna want to go about addressing,"},{"speaker":"Wally Waldron","startTime":2179.23,"endTime":2180.55,"body":"uh, from a business standpoint."},{"speaker":"Wally Waldron","startTime":2180.7000000000003,"endTime":2183.04,"body":"And then, uh, what's your"},{"speaker":"Wally Waldron","startTime":2180.7000000000003,"endTime":2183.04,"body":"human capital look like?"},{"speaker":"Wally Waldron","startTime":2183.04,"endTime":2185.86,"body":"Are, are there a players"},{"speaker":"Wally Waldron","startTime":2183.04,"endTime":2185.86,"body":"that work there, C players?"},{"speaker":"Wally Waldron","startTime":2185.98,"endTime":2188.77,"body":"Um, you know that horror story"},{"speaker":"Wally Waldron","startTime":2185.98,"endTime":2188.77,"body":"I told you 10 minutes ago?"},{"speaker":"Wally Waldron","startTime":2189.04,"endTime":2192.4,"body":"You walked in there and it was"},{"speaker":"Wally Waldron","startTime":2189.04,"endTime":2192.4,"body":"a bunch of C players and so."},{"speaker":"Wally Waldron","startTime":2192.75,"endTime":2194.04,"body":"You know, the business fell apart."},{"speaker":"Wally Waldron","startTime":2194.46,"endTime":2197.37,"body":"Uh, the really nice story I told"},{"speaker":"Wally Waldron","startTime":2194.46,"endTime":2197.37,"body":"you a little bit earlier than that."},{"speaker":"Wally Waldron","startTime":2197.695,"endTime":2203.425,"body":"A players, so, you know, take, take, take"},{"speaker":"Wally Waldron","startTime":2197.695,"endTime":2203.425,"body":"that, uh, as, as it's meant to be taken."},{"speaker":"Wally Waldron","startTime":2203.455,"endTime":2207.5950000000003,"body":"But, but at the end of the day, those"},{"speaker":"Wally Waldron","startTime":2203.455,"endTime":2207.5950000000003,"body":"intangibles, uh, those, those other four"},{"speaker":"Wally Waldron","startTime":2207.5950000000003,"endTime":2212.035,"body":"capitals that I just described, that's"},{"speaker":"Wally Waldron","startTime":2207.5950000000003,"endTime":2212.035,"body":"what drives the multiple on your ebitda."},{"speaker":"Wally Waldron","startTime":2212.305,"endTime":2215.935,"body":"And so there's a lot of different"},{"speaker":"Wally Waldron","startTime":2212.305,"endTime":2215.935,"body":"ways that we wanna be optimizing and"},{"speaker":"Wally Waldron","startTime":2215.935,"endTime":2217.945,"body":"setting these business up for success."},{"speaker":"Wally Waldron","startTime":2218.17,"endTime":2221.935,"body":"But I can't emphasize enough that until"},{"speaker":"Wally Waldron","startTime":2218.17,"endTime":2221.935,"body":"you've done some type of measurement"},{"speaker":"Wally Waldron","startTime":2221.935,"endTime":2225.025,"body":"exercise and looked at your business"},{"speaker":"Wally Waldron","startTime":2221.935,"endTime":2225.025,"body":"the way outside capital would."},{"speaker":"Wally Waldron","startTime":2225.76,"endTime":2228.04,"body":"So that you can look at your"},{"speaker":"Wally Waldron","startTime":2225.76,"endTime":2228.04,"body":"business like an investor would,"},{"speaker":"Wally Waldron","startTime":2229.06,"endTime":2230.315,"body":"you're, you're flying blind."},{"speaker":"Aaron Moncur","startTime":2231.625,"endTime":2231.835,"body":"All right."},{"speaker":"Aaron Moncur","startTime":2231.835,"endTime":2234.385,"body":"I've got a question for you that I am."},{"speaker":"Aaron Moncur","startTime":2234.955,"endTime":2240.385,"body":"Mostly sure is related, uh,"},{"speaker":"Aaron Moncur","startTime":2234.955,"endTime":2240.385,"body":"largely to, to my own head trash."},{"speaker":"Aaron Moncur","startTime":2240.385,"endTime":2243.3250000000003,"body":"So you might have to put on your,"},{"speaker":"Aaron Moncur","startTime":2240.385,"endTime":2243.3250000000003,"body":"your therapist or psychiatrist"},{"speaker":"Aaron Moncur","startTime":2243.535,"endTime":2245.065,"body":"hat here for, for just a minute."},{"speaker":"Aaron Moncur","startTime":2245.065,"endTime":2247.255,"body":"But let me, let me share"},{"speaker":"Aaron Moncur","startTime":2245.065,"endTime":2247.255,"body":"this thought that I have."},{"speaker":"Aaron Moncur","startTime":2247.765,"endTime":2253.675,"body":"What, when I think of a, a business that"},{"speaker":"Aaron Moncur","startTime":2247.765,"endTime":2253.675,"body":"runs mostly without the business owner,"},{"speaker":"Aaron Moncur","startTime":2253.675,"endTime":2255.8650000000002,"body":"which for many people is the dream, right?"},{"speaker":"Aaron Moncur","startTime":2255.8650000000002,"endTime":2257.245,"body":"That gives you all this freedom."},{"speaker":"Aaron Moncur","startTime":2257.515,"endTime":2259.405,"body":"You, uh, you can do what you want."},{"speaker":"Aaron Moncur","startTime":2259.405,"endTime":2262.855,"body":"You, you don't have to be at the"},{"speaker":"Aaron Moncur","startTime":2259.405,"endTime":2262.855,"body":"office at at work every day, but."},{"speaker":"Aaron Moncur","startTime":2304.995,"endTime":2309.1349999999998,"body":"Personally, what, when I think about"},{"speaker":"Aaron Moncur","startTime":2304.995,"endTime":2309.1349999999998,"body":"that from a cultural standpoint, and"},{"speaker":"Aaron Moncur","startTime":2309.1349999999998,"endTime":2314.085,"body":"I think about my team showing up to"},{"speaker":"Aaron Moncur","startTime":2309.1349999999998,"endTime":2314.085,"body":"work every day, I'm not there right?"},{"speaker":"Aaron Moncur","startTime":2314.085,"endTime":2316.395,"body":"In this theoretical"},{"speaker":"Aaron Moncur","startTime":2314.085,"endTime":2316.395,"body":"scenario, I'm not there."},{"speaker":"Aaron Moncur","startTime":2316.395,"endTime":2321.075,"body":"I, I'm, I'm, uh, in Hawaii surfing"},{"speaker":"Aaron Moncur","startTime":2316.395,"endTime":2321.075,"body":"and just having fun, right?"},{"speaker":"Aaron Moncur","startTime":2321.315,"endTime":2324.105,"body":"I'm not, I'm not putting"},{"speaker":"Aaron Moncur","startTime":2321.315,"endTime":2324.105,"body":"in the hours at the office."},{"speaker":"Aaron Moncur","startTime":2324.195,"endTime":2324.6749999999997,"body":"I have to."},{"speaker":"Aaron Moncur","startTime":2325.59,"endTime":2329.7,"body":"Imagine that that would be"},{"speaker":"Aaron Moncur","startTime":2325.59,"endTime":2329.7,"body":"like such a, a demotivating"},{"speaker":"Aaron Moncur","startTime":2329.7599999999998,"endTime":2332.49,"body":"force for the rest of the team."},{"speaker":"Aaron Moncur","startTime":2332.79,"endTime":2336.63,"body":"Uh, is this something that, uh,"},{"speaker":"Aaron Moncur","startTime":2332.79,"endTime":2336.63,"body":"this kind of head trash, uh, is this"},{"speaker":"Aaron Moncur","startTime":2336.63,"endTime":2338.43,"body":"something you encounter frequently?"},{"speaker":"Aaron Moncur","startTime":2338.43,"endTime":2341.64,"body":"Do, do you get pushback from owners"},{"speaker":"Aaron Moncur","startTime":2338.43,"endTime":2341.64,"body":"who are like, no, I have to be there."},{"speaker":"Aaron Moncur","startTime":2341.64,"endTime":2343.02,"body":"I, I like the team."},{"speaker":"Aaron Moncur","startTime":2343.17,"endTime":2345.2999999999997,"body":"I owe this to the team"},{"speaker":"Aaron Moncur","startTime":2343.17,"endTime":2345.2999999999997,"body":"to, to still be there."},{"speaker":"Aaron Moncur","startTime":2345.2999999999997,"endTime":2346.5299999999997,"body":"And how do you address that?"},{"speaker":"Wally Waldron","startTime":2347.205,"endTime":2347.625,"body":"Yeah."},{"speaker":"Wally Waldron","startTime":2347.625,"endTime":2354.465,"body":"So, so first of all, um, let, let, let's"},{"speaker":"Wally Waldron","startTime":2347.625,"endTime":2354.465,"body":"address it on the head trash level, right?"},{"speaker":"Wally Waldron","startTime":2355.065,"endTime":2358.245,"body":"Um, you are, you already said"},{"speaker":"Wally Waldron","startTime":2355.065,"endTime":2358.245,"body":"the, the answer a million times."},{"speaker":"Wally Waldron","startTime":2358.365,"endTime":2361.485,"body":"It depends, right?"},{"speaker":"Wally Waldron","startTime":2361.725,"endTime":2364.755,"body":"And, and, and so, so,"},{"speaker":"Wally Waldron","startTime":2361.725,"endTime":2364.755,"body":"so here's why, right?"},{"speaker":"Wally Waldron","startTime":2364.815,"endTime":2369.615,"body":"Um, a a lot of it probably depends"},{"speaker":"Wally Waldron","startTime":2364.815,"endTime":2369.615,"body":"on what phase of the game the,"},{"speaker":"Wally Waldron","startTime":2369.795,"endTime":2371.805,"body":"the, uh, business is in, right?"},{"speaker":"Wally Waldron","startTime":2372.1349999999998,"endTime":2372.465,"body":"Um."},{"speaker":"Wally Waldron","startTime":2373.245,"endTime":2376.785,"body":"If I think of this, uh, ski company"},{"speaker":"Wally Waldron","startTime":2373.245,"endTime":2376.785,"body":"that we've talked about in the early"},{"speaker":"Wally Waldron","startTime":2376.785,"endTime":2379.485,"body":"days, that was all hands on deck, right?"},{"speaker":"Wally Waldron","startTime":2379.485,"endTime":2380.625,"body":"We're going zero to one."},{"speaker":"Wally Waldron","startTime":2380.625,"endTime":2384.735,"body":"We're going from nothing to startup to"},{"speaker":"Wally Waldron","startTime":2380.625,"endTime":2384.735,"body":"scale up, like we're all in it together."},{"speaker":"Wally Waldron","startTime":2386.295,"endTime":2387.325,"body":"now that they're 20 years in."},{"speaker":"Wally Waldron","startTime":2389.31,"endTime":2390.42,"body":"Founders coming around."},{"speaker":"Wally Waldron","startTime":2390.42,"endTime":2392.79,"body":"That's a day that just like,"},{"speaker":"Wally Waldron","startTime":2390.42,"endTime":2392.79,"body":"that's an unproductive day."},{"speaker":"Wally Waldron","startTime":2392.79,"endTime":2394.2599999999998,"body":"Like, what are, what are you doing here?"},{"speaker":"Wally Waldron","startTime":2394.2599999999998,"endTime":2396.84,"body":"Why aren't you out there"},{"speaker":"Wally Waldron","startTime":2394.2599999999998,"endTime":2396.84,"body":"evangelizing for this thing?"},{"speaker":"Wally Waldron","startTime":2396.84,"endTime":2398.7599999999998,"body":"Like, why are, why are you here?"},{"speaker":"Wally Waldron","startTime":2399.39,"endTime":2399.7799999999997,"body":"Right?"},{"speaker":"Wally Waldron","startTime":2400.14,"endTime":2403.68,"body":"So, so, so what happened in between, um."},{"speaker":"Wally Waldron","startTime":2404.37,"endTime":2407.58,"body":"Proper structures and proper"},{"speaker":"Wally Waldron","startTime":2404.37,"endTime":2407.58,"body":"culture was put in place."},{"speaker":"Wally Waldron","startTime":2407.58,"endTime":2407.94,"body":"Right."},{"speaker":"Wally Waldron","startTime":2408.0,"endTime":2411.36,"body":"And, and so, and it back"},{"speaker":"Wally Waldron","startTime":2408.0,"endTime":2411.36,"body":"to alignment, right?"},{"speaker":"Wally Waldron","startTime":2411.63,"endTime":2415.5,"body":"Um, we're, we're working with a company"},{"speaker":"Wally Waldron","startTime":2411.63,"endTime":2415.5,"body":"right now who is halfway in between"},{"speaker":"Wally Waldron","startTime":2415.5,"endTime":2419.94,"body":"this, this whole phase where they rolled"},{"speaker":"Wally Waldron","startTime":2415.5,"endTime":2419.94,"body":"up a couple other smaller businesses"},{"speaker":"Wally Waldron","startTime":2419.94,"endTime":2422.04,"body":"across a larger region that they work in."},{"speaker":"Wally Waldron","startTime":2422.4,"endTime":2425.79,"body":"And the original office is"},{"speaker":"Wally Waldron","startTime":2422.4,"endTime":2425.79,"body":"the one with the culture."},{"speaker":"Wally Waldron","startTime":2425.88,"endTime":2429.42,"body":"And that's the culture we want on these"},{"speaker":"Wally Waldron","startTime":2425.88,"endTime":2429.42,"body":"other offices and these other cultures"},{"speaker":"Wally Waldron","startTime":2429.42,"endTime":2431.2799999999997,"body":"are lazy and all this other stuff."},{"speaker":"Wally Waldron","startTime":2432.27,"endTime":2432.63,"body":"So."},{"speaker":"Wally Waldron","startTime":2433.065,"endTime":2434.115,"body":"Takes a couple years."},{"speaker":"Wally Waldron","startTime":2434.475,"endTime":2439.875,"body":"It's like, so are the other cultures"},{"speaker":"Wally Waldron","startTime":2434.475,"endTime":2439.875,"body":"in these offices really lazy or did"},{"speaker":"Wally Waldron","startTime":2439.875,"endTime":2443.835,"body":"we just not deploy your new general"},{"speaker":"Wally Waldron","startTime":2439.875,"endTime":2443.835,"body":"manager to the other two places"},{"speaker":"Wally Waldron","startTime":2443.835,"endTime":2446.865,"body":"enough to them the, the new culture?"},{"speaker":"Wally Waldron","startTime":2447.735,"endTime":2453.105,"body":"It was that simple and right,"},{"speaker":"Wally Waldron","startTime":2447.735,"endTime":2453.105,"body":"the, the owner nobody wanted"},{"speaker":"Wally Waldron","startTime":2453.105,"endTime":2454.125,"body":"the owner to come around."},{"speaker":"Wally Waldron","startTime":2454.785,"endTime":2456.855,"body":"They just wanted the general"},{"speaker":"Wally Waldron","startTime":2454.785,"endTime":2456.855,"body":"manager to make sure that they"},{"speaker":"Wally Waldron","startTime":2456.855,"endTime":2459.4049999999997,"body":"had what they need so they could"},{"speaker":"Wally Waldron","startTime":2456.855,"endTime":2459.4049999999997,"body":"actually live up to the culture."},{"speaker":"Aaron Moncur","startTime":2460.1349999999998,"endTime":2462.45,"body":"Uh, that's an"},{"speaker":"Aaron Moncur","startTime":2460.1349999999998,"endTime":2462.45,"body":"interesting shift in perspective."},{"speaker":"Aaron Moncur","startTime":2462.48,"endTime":2462.7799999999997,"body":"Yeah."},{"speaker":"Wally Waldron","startTime":2463.11,"endTime":2463.12,"body":"right."},{"speaker":"Aaron Moncur","startTime":2463.44,"endTime":2463.5299999999997,"body":"Yeah."},{"speaker":"Wally Waldron","startTime":2464.04,"endTime":2469.17,"body":"So, so, so the, lot of"},{"speaker":"Wally Waldron","startTime":2464.04,"endTime":2469.17,"body":"times, depending on where you're at in"},{"speaker":"Wally Waldron","startTime":2469.17,"endTime":2474.99,"body":"that whole thing, what, what we recommend"},{"speaker":"Wally Waldron","startTime":2469.17,"endTime":2474.99,"body":"is, you know, looking for, um, you"},{"speaker":"Wally Waldron","startTime":2474.99,"endTime":2477.87,"body":"know, one, once you're ready to look"},{"speaker":"Wally Waldron","startTime":2474.99,"endTime":2477.87,"body":"at your business as an investor, right?"},{"speaker":"Wally Waldron","startTime":2477.87,"endTime":2481.38,"body":"Obviously that's the key that we keep"},{"speaker":"Wally Waldron","startTime":2477.87,"endTime":2481.38,"body":"hammering home, but we want to see,"},{"speaker":"Wally Waldron","startTime":2481.59,"endTime":2483.21,"body":"you know, building that capacity."},{"speaker":"Wally Waldron","startTime":2483.45,"endTime":2485.055,"body":"Part of that's the mental"},{"speaker":"Wally Waldron","startTime":2483.45,"endTime":2485.055,"body":"capacity of the owner."},{"speaker":"Wally Waldron","startTime":2486.66,"endTime":2487.02,"body":"Right."},{"speaker":"Wally Waldron","startTime":2487.35,"endTime":2488.34,"body":"And how do we do that?"},{"speaker":"Wally Waldron","startTime":2488.34,"endTime":2490.95,"body":"We, we, we put proper"},{"speaker":"Wally Waldron","startTime":2488.34,"endTime":2490.95,"body":"management rhythms in place."},{"speaker":"Wally Waldron","startTime":2490.95,"endTime":2495.15,"body":"We get them an operations leader"},{"speaker":"Wally Waldron","startTime":2490.95,"endTime":2495.15,"body":"as fast as possible, a lot of times"},{"speaker":"Wally Waldron","startTime":2495.15,"endTime":2499.59,"body":"we help them get things off their"},{"speaker":"Wally Waldron","startTime":2495.15,"endTime":2499.59,"body":"plate just to see what it's like."},{"speaker":"Wally Waldron","startTime":2500.49,"endTime":2500.88,"body":"You can always"},{"speaker":"Aaron Moncur","startTime":2501.02,"endTime":2501.29,"body":"Yeah."},{"speaker":"Aaron Moncur","startTime":2502.19,"endTime":2502.49,"body":"Yeah."},{"speaker":"Aaron Moncur","startTime":2502.58,"endTime":2503.0299999999997,"body":"Right."},{"speaker":"Wally Waldron","startTime":2503.73,"endTime":2504.57,"body":"So, yeah."},{"speaker":"Wally Waldron","startTime":2504.57,"endTime":2507.9,"body":"Is, is that helpful from"},{"speaker":"Wally Waldron","startTime":2504.57,"endTime":2507.9,"body":"both your perspective, but"},{"speaker":"Wally Waldron","startTime":2507.9,"endTime":2508.95,"body":"hopefully for the audience as"},{"speaker":"Aaron Moncur","startTime":2509.115,"endTime":2510.585,"body":"Yeah, it, it is, it is."},{"speaker":"Aaron Moncur","startTime":2510.585,"endTime":2512.9249999999997,"body":"That's an interesting shift"},{"speaker":"Aaron Moncur","startTime":2510.585,"endTime":2512.9249999999997,"body":"in, in perspective that I"},{"speaker":"Aaron Moncur","startTime":2512.9249999999997,"endTime":2514.005,"body":"hadn't thought about before."},{"speaker":"Aaron Moncur","startTime":2514.005,"endTime":2517.935,"body":"The, the fact that, um, teams"},{"speaker":"Aaron Moncur","startTime":2514.005,"endTime":2517.935,"body":"might not want the founder around."},{"speaker":"Aaron Moncur","startTime":2517.935,"endTime":2520.605,"body":"Maybe they're more productive when"},{"speaker":"Aaron Moncur","startTime":2517.935,"endTime":2520.605,"body":"the founder isn't there, you know,"},{"speaker":"Aaron Moncur","startTime":2520.605,"endTime":2524.955,"body":"asking questions and sticking his or"},{"speaker":"Aaron Moncur","startTime":2520.605,"endTime":2524.955,"body":"her, her nose in the mix of things."},{"speaker":"Aaron Moncur","startTime":2525.435,"endTime":2525.915,"body":"Um,"},{"speaker":"Wally Waldron","startTime":2526.005,"endTime":2527.715,"body":"can I, can I"},{"speaker":"Wally Waldron","startTime":2526.005,"endTime":2527.715,"body":"share an antidote from our"},{"speaker":"Aaron Moncur","startTime":2528.1349999999998,"endTime":2528.945,"body":"please, yeah."},{"speaker":"Wally Waldron","startTime":2529.095,"endTime":2529.545,"body":"So."},{"speaker":"Wally Waldron","startTime":2530.0099999999998,"endTime":2533.0099999999998,"body":"Yeah, that whole concept"},{"speaker":"Wally Waldron","startTime":2530.0099999999998,"endTime":2533.0099999999998,"body":"of eat your own dog food."},{"speaker":"Wally Waldron","startTime":2533.0099999999998,"endTime":2533.37,"body":"Right?"},{"speaker":"Wally Waldron","startTime":2534.12,"endTime":2537.96,"body":"And so, so we went through a round of"},{"speaker":"Wally Waldron","startTime":2534.12,"endTime":2537.96,"body":"this type of growth a few years ago."},{"speaker":"Wally Waldron","startTime":2538.2,"endTime":2542.4,"body":"Um, and, and this, this might actually"},{"speaker":"Wally Waldron","startTime":2538.2,"endTime":2542.4,"body":"answer one of your original questions"},{"speaker":"Wally Waldron","startTime":2542.4,"endTime":2545.0099999999998,"body":"at the beginning, which is why do"},{"speaker":"Wally Waldron","startTime":2542.4,"endTime":2545.0099999999998,"body":"you get along so well with engineers?"},{"speaker":"Wally Waldron","startTime":2545.295,"endTime":2547.5299999999997,"body":"I, I think I might be one at heart."},{"speaker":"Wally Waldron","startTime":2547.765,"endTime":2550.015,"body":"Um, I, I know I'm a systems thinker."},{"speaker":"Wally Waldron","startTime":2550.105,"endTime":2552.685,"body":"I'm always trying to, you know,"},{"speaker":"Wally Waldron","startTime":2550.105,"endTime":2552.685,"body":"look for the patterns 'cause"},{"speaker":"Wally Waldron","startTime":2552.685,"endTime":2554.305,"body":"they just arrive all the time."},{"speaker":"Wally Waldron","startTime":2554.305,"endTime":2558.595,"body":"And if I could, I don't know, put"},{"speaker":"Wally Waldron","startTime":2554.305,"endTime":2558.595,"body":"everything into an algebra equation"},{"speaker":"Wally Waldron","startTime":2558.595,"endTime":2560.215,"body":"or a spreadsheet, I probably would."},{"speaker":"Wally Waldron","startTime":2560.305,"endTime":2562.1349999999998,"body":"And so the."},{"speaker":"Wally Waldron","startTime":2562.41,"endTime":2567.63,"body":"Yeah, the thing that I was doing"},{"speaker":"Wally Waldron","startTime":2562.41,"endTime":2567.63,"body":"was, um, basically not giving"},{"speaker":"Wally Waldron","startTime":2567.63,"endTime":2569.52,"body":"people ownership over their roles."},{"speaker":"Wally Waldron","startTime":2569.58,"endTime":2573.48,"body":"So it was there on a piece of paper, but"},{"speaker":"Wally Waldron","startTime":2569.58,"endTime":2573.48,"body":"it wasn't actually a lived experience."},{"speaker":"Wally Waldron","startTime":2573.96,"endTime":2576.36,"body":"So we came up with some shorthand,"},{"speaker":"Wally Waldron","startTime":2573.96,"endTime":2576.36,"body":"and the reason I'm sharing this"},{"speaker":"Wally Waldron","startTime":2576.36,"endTime":2577.56,"body":"with you is for two reasons."},{"speaker":"Wally Waldron","startTime":2577.86,"endTime":2580.47,"body":"One is I get exactly what"},{"speaker":"Wally Waldron","startTime":2577.86,"endTime":2580.47,"body":"you're going through, and two,"},{"speaker":"Wally Waldron","startTime":2580.47,"endTime":2581.73,"body":"here's what worked for us."},{"speaker":"Wally Waldron","startTime":2582.48,"endTime":2584.79,"body":"Um, I made a new agreement."},{"speaker":"Wally Waldron","startTime":2584.79,"endTime":2588.7799999999997,"body":"I said, Hey, if, if I've given"},{"speaker":"Wally Waldron","startTime":2584.79,"endTime":2588.7799999999997,"body":"you something and I'm starting to."},{"speaker":"Wally Waldron","startTime":2589.5,"endTime":2593.43,"body":"You know, do that whole pigeon thing,"},{"speaker":"Wally Waldron","startTime":2589.5,"endTime":2593.43,"body":"fly in like a pigeon poop on everything,"},{"speaker":"Wally Waldron","startTime":2593.43,"endTime":2594.99,"body":"and then float out of there again."},{"speaker":"Aaron Moncur","startTime":2595.11,"endTime":2596.25,"body":"Siegel Consulting."},{"speaker":"Aaron Moncur","startTime":2596.31,"endTime":2596.88,"body":"I've heard that."},{"speaker":"Wally Waldron","startTime":2597.15,"endTime":2597.72,"body":"There you go."},{"speaker":"Wally Waldron","startTime":2597.99,"endTime":2601.62,"body":"If I'm doing that, you, you"},{"speaker":"Wally Waldron","startTime":2597.99,"endTime":2601.62,"body":"call timeout and, and literally"},{"speaker":"Wally Waldron","startTime":2601.62,"endTime":2602.94,"body":"they're allowed to do this, right?"},{"speaker":"Wally Waldron","startTime":2602.94,"endTime":2603.5099999999998,"body":"The timeout."},{"speaker":"Wally Waldron","startTime":2603.96,"endTime":2608.88,"body":"And you look at me and you say, thank you,"},{"speaker":"Wally Waldron","startTime":2603.96,"endTime":2608.88,"body":"I've got this Now get out of my office."},{"speaker":"Aaron Moncur","startTime":2611.52,"endTime":2612.18,"body":"That's great."},{"speaker":"Wally Waldron","startTime":2612.87,"endTime":2613.14,"body":"So."},{"speaker":"Aaron Moncur","startTime":2613.98,"endTime":2616.59,"body":"Uh, all right,"},{"speaker":"Aaron Moncur","startTime":2613.98,"endTime":2616.59,"body":"I I have a question for you"},{"speaker":"Aaron Moncur","startTime":2616.59,"endTime":2618.115,"body":"about Mark sales and marketing."},{"speaker":"Aaron Moncur","startTime":2618.485,"endTime":2618.9049999999997,"body":"All right."},{"speaker":"Aaron Moncur","startTime":2618.935,"endTime":2625.745,"body":"Uh, I know from personal experience that"},{"speaker":"Aaron Moncur","startTime":2618.935,"endTime":2625.745,"body":"engineers are great at engineering and"},{"speaker":"Aaron Moncur","startTime":2625.745,"endTime":2632.855,"body":"systems thinking and logic and operations"},{"speaker":"Aaron Moncur","startTime":2625.745,"endTime":2632.855,"body":"and organization execution, but most of"},{"speaker":"Aaron Moncur","startTime":2632.855,"endTime":2635.855,"body":"us are not great at sales and marketing."},{"speaker":"Wally Waldron","startTime":2636.06,"endTime":2636.18,"body":"Yep."},{"speaker":"Aaron Moncur","startTime":2636.185,"endTime":2637.35,"body":"How, how do you guide."},{"speaker":"Aaron Moncur","startTime":2637.965,"endTime":2641.9249999999997,"body":"Engineering, manufacturing companies,"},{"speaker":"Aaron Moncur","startTime":2637.965,"endTime":2641.9249999999997,"body":"uh, given that sales and marketing,"},{"speaker":"Aaron Moncur","startTime":2641.9249999999997,"endTime":2646.095,"body":"like that's kind of an important part"},{"speaker":"Aaron Moncur","startTime":2641.9249999999997,"endTime":2646.095,"body":"of, of growing and scaling a business."},{"speaker":"Aaron Moncur","startTime":2646.095,"endTime":2648.915,"body":"How do you guide companies that"},{"speaker":"Aaron Moncur","startTime":2646.095,"endTime":2648.915,"body":"aren't naturally good at those things?"},{"speaker":"Wally Waldron","startTime":2649.065,"endTime":2649.9049999999997,"body":"Yeah, for sure."},{"speaker":"Wally Waldron","startTime":2649.9049999999997,"endTime":2652.725,"body":"So, so it's a really important"},{"speaker":"Wally Waldron","startTime":2649.9049999999997,"endTime":2652.725,"body":"part of the equation."},{"speaker":"Wally Waldron","startTime":2652.725,"endTime":2654.195,"body":"I'm glad you asked me that question."},{"speaker":"Wally Waldron","startTime":2654.465,"endTime":2659.205,"body":"Um, so first of all, going"},{"speaker":"Wally Waldron","startTime":2654.465,"endTime":2659.205,"body":"back to why we believe we're"},{"speaker":"Wally Waldron","startTime":2659.205,"endTime":2660.855,"body":"good at working with engineers."},{"speaker":"Wally Waldron","startTime":2661.755,"endTime":2665.685,"body":"from a marketing perspective, one of"},{"speaker":"Wally Waldron","startTime":2661.755,"endTime":2665.685,"body":"the skill sets that we've deployed into"},{"speaker":"Wally Waldron","startTime":2665.685,"endTime":2669.555,"body":"the market for most of that 25 years"},{"speaker":"Wally Waldron","startTime":2665.685,"endTime":2669.555,"body":"that we've been around has been direct"},{"speaker":"Wally Waldron","startTime":2669.555,"endTime":2671.955,"body":"response marketing of one type or another."},{"speaker":"Wally Waldron","startTime":2672.075,"endTime":2676.6349999999998,"body":"And that's very different than a lot of"},{"speaker":"Wally Waldron","startTime":2672.075,"endTime":2676.6349999999998,"body":"the marketing that you saw over the years."},{"speaker":"Wally Waldron","startTime":2676.785,"endTime":2680.295,"body":"And direct response is"},{"speaker":"Wally Waldron","startTime":2676.785,"endTime":2680.295,"body":"trackable down to the penny."},{"speaker":"Wally Waldron","startTime":2680.325,"endTime":2682.815,"body":"It's trackable down to the"},{"speaker":"Wally Waldron","startTime":2680.325,"endTime":2682.815,"body":"leading indicator, and you"},{"speaker":"Wally Waldron","startTime":2682.815,"endTime":2684.585,"body":"can always improve upon it."},{"speaker":"Wally Waldron","startTime":2684.6749999999997,"endTime":2685.695,"body":"And I think that."},{"speaker":"Wally Waldron","startTime":2685.99,"endTime":2688.48,"body":"As a baseline is an"},{"speaker":"Wally Waldron","startTime":2685.99,"endTime":2688.48,"body":"important context to set."},{"speaker":"Wally Waldron","startTime":2688.93,"endTime":2692.86,"body":"There's nothing that we do"},{"speaker":"Wally Waldron","startTime":2688.93,"endTime":2692.86,"body":"for a client isn't tracked,"},{"speaker":"Wally Waldron","startTime":2692.92,"endTime":2695.59,"body":"improved, kaizen, all the things."},{"speaker":"Wally Waldron","startTime":2695.89,"endTime":2697.09,"body":"That's, that's number one."},{"speaker":"Wally Waldron","startTime":2697.75,"endTime":2703.75,"body":"Number two is we've systemized it to the"},{"speaker":"Wally Waldron","startTime":2697.75,"endTime":2703.75,"body":"point where we can really understand and,"},{"speaker":"Wally Waldron","startTime":2703.75,"endTime":2709.0299999999997,"body":"and, and a great portion of the book that"},{"speaker":"Wally Waldron","startTime":2703.75,"endTime":2709.0299999999997,"body":"I wrote is about what is a systemized and"},{"speaker":"Wally Waldron","startTime":2709.06,"endTime":2712.21,"body":"trackable marketing system look like for."},{"speaker":"Wally Waldron","startTime":2712.545,"endTime":2714.645,"body":"A manufacturing firm"},{"speaker":"Wally Waldron","startTime":2712.545,"endTime":2714.645,"body":"for an industrial firm."},{"speaker":"Wally Waldron","startTime":2715.275,"endTime":2719.835,"body":"And the reason for that is because"},{"speaker":"Wally Waldron","startTime":2715.275,"endTime":2719.835,"body":"theoretically, you should be able"},{"speaker":"Wally Waldron","startTime":2719.835,"endTime":2723.825,"body":"to read my book and implement it"},{"speaker":"Wally Waldron","startTime":2719.835,"endTime":2723.825,"body":"yourself and see great results then."},{"speaker":"Wally Waldron","startTime":2724.245,"endTime":2727.215,"body":"Get that growth engine going"},{"speaker":"Wally Waldron","startTime":2724.245,"endTime":2727.215,"body":"and then call us to do version"},{"speaker":"Wally Waldron","startTime":2727.215,"endTime":2728.835,"body":"two, three, four, five, six."},{"speaker":"Wally Waldron","startTime":2728.835,"endTime":2729.165,"body":"Right."},{"speaker":"Wally Waldron","startTime":2729.525,"endTime":2733.695,"body":"And at the end of the day though,"},{"speaker":"Wally Waldron","startTime":2729.525,"endTime":2733.695,"body":"I think that's important from a"},{"speaker":"Wally Waldron","startTime":2733.695,"endTime":2737.625,"body":"tactical perspective, but why is it"},{"speaker":"Wally Waldron","startTime":2733.695,"endTime":2737.625,"body":"important from a strategic perspective?"},{"speaker":"Wally Waldron","startTime":2737.865,"endTime":2743.895,"body":"If you can get the growth engine going"},{"speaker":"Wally Waldron","startTime":2737.865,"endTime":2743.895,"body":"on the front end, you can, uh, self-fund"},{"speaker":"Wally Waldron","startTime":2743.895,"endTime":2748.095,"body":"all of the initiatives to have all of"},{"speaker":"Wally Waldron","startTime":2743.895,"endTime":2748.095,"body":"the exit options available for you."},{"speaker":"Wally Waldron","startTime":2748.995,"endTime":2750.015,"body":"that's huge."},{"speaker":"Wally Waldron","startTime":2750.285,"endTime":2751.365,"body":"And if you know."},{"speaker":"Wally Waldron","startTime":2751.86,"endTime":2753.36,"body":"That you are not going to do it."},{"speaker":"Wally Waldron","startTime":2753.36,"endTime":2756.15,"body":"You know, your competition"},{"speaker":"Wally Waldron","startTime":2753.36,"endTime":2756.15,"body":"is not doing it by doing it."},{"speaker":"Wally Waldron","startTime":2756.15,"endTime":2757.74,"body":"You're putting yourself at an advantage."},{"speaker":"Wally Waldron","startTime":2757.74,"endTime":2758.5499999999997,"body":"Does that make sense?"},{"speaker":"Aaron Moncur","startTime":2758.68,"endTime":2759.245,"body":"It does."},{"speaker":"Aaron Moncur","startTime":2759.245,"endTime":2759.515,"body":"Yeah."},{"speaker":"Wally Waldron","startTime":2760.0499999999997,"endTime":2764.64,"body":"Um, taking it up even"},{"speaker":"Wally Waldron","startTime":2760.0499999999997,"endTime":2764.64,"body":"another level, what it does, as we"},{"speaker":"Wally Waldron","startTime":2764.64,"endTime":2768.0299999999997,"body":"give you options, you might be able"},{"speaker":"Wally Waldron","startTime":2764.64,"endTime":2768.0299999999997,"body":"to grow through acquisition, which"},{"speaker":"Wally Waldron","startTime":2768.0299999999997,"endTime":2772.59,"body":"would then very rapidly increase"},{"speaker":"Wally Waldron","startTime":2768.0299999999997,"endTime":2772.59,"body":"that three to five x multiple."},{"speaker":"Wally Waldron","startTime":2772.92,"endTime":2776.1,"body":"If you go through acquisition"},{"speaker":"Wally Waldron","startTime":2772.92,"endTime":2776.1,"body":"and get big, fast enough, you"},{"speaker":"Wally Waldron","startTime":2776.1,"endTime":2778.2,"body":"now have the story of stories."},{"speaker":"Wally Waldron","startTime":2778.23,"endTime":2780.57,"body":"Your marketing story is"},{"speaker":"Wally Waldron","startTime":2778.23,"endTime":2780.57,"body":"actually your exit story."},{"speaker":"Wally Waldron","startTime":2780.87,"endTime":2781.35,"body":"Who."},{"speaker":"Wally Waldron","startTime":2782.235,"endTime":2786.975,"body":"Could you be more valuable to who has"},{"speaker":"Wally Waldron","startTime":2782.235,"endTime":2786.975,"body":"more resources, a bigger platform,"},{"speaker":"Wally Waldron","startTime":2787.275,"endTime":2789.315,"body":"and potentially a lot more money."},{"speaker":"Wally Waldron","startTime":2790.1549999999997,"endTime":2792.735,"body":"what they need to do is just"},{"speaker":"Wally Waldron","startTime":2790.1549999999997,"endTime":2792.735,"body":"scale what you're great at."},{"speaker":"Wally Waldron","startTime":2792.825,"endTime":2797.985,"body":"And so it always opens up more,"},{"speaker":"Wally Waldron","startTime":2792.825,"endTime":2797.985,"body":"uh, options both on the back end"},{"speaker":"Wally Waldron","startTime":2797.985,"endTime":2802.4249999999997,"body":"strategically, but also on the front"},{"speaker":"Wally Waldron","startTime":2797.985,"endTime":2802.4249999999997,"body":"end to actually fund, uh, initiatives."},{"speaker":"Aaron Moncur","startTime":2804.015,"endTime":2806.3849999999998,"body":"All right, Wally,"},{"speaker":"Aaron Moncur","startTime":2804.015,"endTime":2806.3849999999998,"body":"one more question and then, and"},{"speaker":"Aaron Moncur","startTime":2806.3849999999998,"endTime":2807.8849999999998,"body":"then we will wrap things up here."},{"speaker":"Aaron Moncur","startTime":2807.945,"endTime":2811.695,"body":"Um, this may have been answered"},{"speaker":"Aaron Moncur","startTime":2807.945,"endTime":2811.695,"body":"kind of roundabout as we've had our"},{"speaker":"Aaron Moncur","startTime":2811.695,"endTime":2815.145,"body":"discussion anyway, but let's, let's"},{"speaker":"Aaron Moncur","startTime":2811.695,"endTime":2815.145,"body":"see if we can provide some, uh, a"},{"speaker":"Aaron Moncur","startTime":2815.145,"endTime":2817.035,"body":"very clear, concrete answer to it."},{"speaker":"Aaron Moncur","startTime":2817.065,"endTime":2821.475,"body":"What do you think the, the biggest"},{"speaker":"Aaron Moncur","startTime":2817.065,"endTime":2821.475,"body":"mindset shift required for a"},{"speaker":"Aaron Moncur","startTime":2821.475,"endTime":2826.815,"body":"founder to go from operator to, to"},{"speaker":"Aaron Moncur","startTime":2821.475,"endTime":2826.815,"body":"someone who's ready to let go is."},{"speaker":"Wally Waldron","startTime":2827.85,"endTime":2831.96,"body":"So it, it comes back to"},{"speaker":"Wally Waldron","startTime":2827.85,"endTime":2831.96,"body":"that gold miner versus gold Miller, right?"},{"speaker":"Wally Waldron","startTime":2832.02,"endTime":2837.48,"body":"So if you wanna let go find your"},{"speaker":"Wally Waldron","startTime":2832.02,"endTime":2837.48,"body":"flow, but if you, right, and so what"},{"speaker":"Wally Waldron","startTime":2837.48,"endTime":2839.82,"body":"I mean by that is you're an engineer."},{"speaker":"Wally Waldron","startTime":2840.75,"endTime":2842.46,"body":"You already know you're"},{"speaker":"Wally Waldron","startTime":2840.75,"endTime":2842.46,"body":"strong on the left brain."},{"speaker":"Wally Waldron","startTime":2842.94,"endTime":2846.9,"body":"You've gotta, you gotta step out"},{"speaker":"Wally Waldron","startTime":2842.94,"endTime":2846.9,"body":"and actually get creative and ask,"},{"speaker":"Wally Waldron","startTime":2846.96,"endTime":2849.36,"body":"what do I want three years from now?"},{"speaker":"Wally Waldron","startTime":2849.36,"endTime":2851.16,"body":"Where do I wanna be three"},{"speaker":"Wally Waldron","startTime":2849.36,"endTime":2851.16,"body":"to five years from now?"},{"speaker":"Wally Waldron","startTime":2851.25,"endTime":2854.52,"body":"And then I'll ask you, which is"},{"speaker":"Wally Waldron","startTime":2851.25,"endTime":2854.52,"body":"it three to five years, right?"},{"speaker":"Wally Waldron","startTime":2854.52,"endTime":2855.42,"body":"Let's define that thing."},{"speaker":"Wally Waldron","startTime":2856.14,"endTime":2862.44,"body":"But you w you wanna get way out there"},{"speaker":"Wally Waldron","startTime":2856.14,"endTime":2862.44,"body":"into that flow of creativity and"},{"speaker":"Wally Waldron","startTime":2862.44,"endTime":2865.98,"body":"then come back to your day to day and"},{"speaker":"Wally Waldron","startTime":2862.44,"endTime":2865.98,"body":"engineer those success conditions."},{"speaker":"Wally Waldron","startTime":2866.7599999999998,"endTime":2872.1,"body":"And so oftentimes, and, and, and"},{"speaker":"Wally Waldron","startTime":2866.7599999999998,"endTime":2872.1,"body":"again where, um, you know, I'm,"},{"speaker":"Wally Waldron","startTime":2872.1,"endTime":2875.61,"body":"I'm as guilty of this as anyone,"},{"speaker":"Wally Waldron","startTime":2872.1,"endTime":2875.61,"body":"which is why I also hire consultants"},{"speaker":"Wally Waldron","startTime":2875.61,"endTime":2877.59,"body":"to help me get into that state."},{"speaker":"Wally Waldron","startTime":2879.36,"endTime":2883.14,"body":"you know, the left brain part is"},{"speaker":"Wally Waldron","startTime":2879.36,"endTime":2883.14,"body":"easy, but visioning and understanding"},{"speaker":"Wally Waldron","startTime":2883.14,"endTime":2887.52,"body":"and seeing a new future for yourself"},{"speaker":"Wally Waldron","startTime":2883.14,"endTime":2887.52,"body":"where it might not have been, find"},{"speaker":"Wally Waldron","startTime":2887.52,"endTime":2889.74,"body":"someone who help you with that."},{"speaker":"Wally Waldron","startTime":2889.98,"endTime":2892.18,"body":"And oftentimes it's as"},{"speaker":"Wally Waldron","startTime":2889.98,"endTime":2892.18,"body":"simple as, you know."},{"speaker":"Wally Waldron","startTime":2892.68,"endTime":2896.5499999999997,"body":"Your wife or maybe your daughter or maybe"},{"speaker":"Wally Waldron","startTime":2892.68,"endTime":2896.5499999999997,"body":"a friend of yours or whatever, right?"},{"speaker":"Wally Waldron","startTime":2896.91,"endTime":2901.47,"body":"Um, but, but find that person and,"},{"speaker":"Wally Waldron","startTime":2896.91,"endTime":2901.47,"body":"and really get creative about it."},{"speaker":"Wally Waldron","startTime":2901.86,"endTime":2905.43,"body":"And then create an exit thesis"},{"speaker":"Wally Waldron","startTime":2901.86,"endTime":2905.43,"body":"for yourself your engineering"},{"speaker":"Wally Waldron","startTime":2905.43,"endTime":2907.02,"body":"mind can take over from there."},{"speaker":"Wally Waldron","startTime":2907.35,"endTime":2908.91,"body":"And I think you'd be"},{"speaker":"Wally Waldron","startTime":2907.35,"endTime":2908.91,"body":"in a much better place."},{"speaker":"Wally Waldron","startTime":2909.755,"endTime":2910.245,"body":"Alright,"},{"speaker":"Aaron Moncur","startTime":2910.32,"endTime":2910.7999999999997,"body":"I lied."},{"speaker":"Aaron Moncur","startTime":2910.7999999999997,"endTime":2913.86,"body":"I There's one more question I'd"},{"speaker":"Aaron Moncur","startTime":2910.7999999999997,"endTime":2913.86,"body":"like to get your, your feedback on."},{"speaker":"Aaron Moncur","startTime":2914.22,"endTime":2917.37,"body":"Um, so I've been running pipeline"},{"speaker":"Aaron Moncur","startTime":2914.22,"endTime":2917.37,"body":"for 16 years, and for the"},{"speaker":"Aaron Moncur","startTime":2917.37,"endTime":2919.02,"body":"most part it's been wonderful."},{"speaker":"Aaron Moncur","startTime":2919.0499999999997,"endTime":2924.42,"body":"I've, I've genuinely enjoyed and continue"},{"speaker":"Aaron Moncur","startTime":2919.0499999999997,"endTime":2924.42,"body":"to enjoy my time owning this business."},{"speaker":"Aaron Moncur","startTime":2924.5099999999998,"endTime":2927.9,"body":"But for sure there have been"},{"speaker":"Aaron Moncur","startTime":2924.5099999999998,"endTime":2927.9,"body":"times when it wasn't fun, right?"},{"speaker":"Aaron Moncur","startTime":2927.9,"endTime":2928.98,"body":"It was just hard."},{"speaker":"Aaron Moncur","startTime":2929.25,"endTime":2932.605,"body":"It was a grind, and I felt, um, worn out."},{"speaker":"Aaron Moncur","startTime":2933.16,"endTime":2938.83,"body":"And, and burned out, and I'm sure"},{"speaker":"Aaron Moncur","startTime":2933.16,"endTime":2938.83,"body":"that is, uh, not uncommon for,"},{"speaker":"Aaron Moncur","startTime":2938.83,"endTime":2940.84,"body":"for business owners in general."},{"speaker":"Aaron Moncur","startTime":2940.84,"endTime":2946.12,"body":"So, uh, what, what kind of advice or"},{"speaker":"Aaron Moncur","startTime":2940.84,"endTime":2946.12,"body":"clarity might you have for, for business"},{"speaker":"Aaron Moncur","startTime":2946.12,"endTime":2951.0099999999998,"body":"owners out there who are just feeling"},{"speaker":"Aaron Moncur","startTime":2946.12,"endTime":2951.0099999999998,"body":"a little burned out and, and are, are"},{"speaker":"Aaron Moncur","startTime":2951.0099999999998,"endTime":2952.99,"body":"looking for some sense of clarity?"},{"speaker":"Wally Waldron","startTime":2953.565,"endTime":2954.855,"body":"Yeah, 100%."},{"speaker":"Wally Waldron","startTime":2954.855,"endTime":2956.835,"body":"So first of all, know"},{"speaker":"Wally Waldron","startTime":2954.855,"endTime":2956.835,"body":"that you're not alone."},{"speaker":"Wally Waldron","startTime":2957.555,"endTime":2961.515,"body":"Um, and, and again, you know,"},{"speaker":"Wally Waldron","startTime":2957.555,"endTime":2961.515,"body":"to, to build credibility, but"},{"speaker":"Wally Waldron","startTime":2961.515,"endTime":2963.705,"body":"just tell you how it really is."},{"speaker":"Wally Waldron","startTime":2963.765,"endTime":2967.725,"body":"We here at Ology went through a"},{"speaker":"Wally Waldron","startTime":2963.765,"endTime":2967.725,"body":"couple of the, the five Ds this year."},{"speaker":"Wally Waldron","startTime":2968.295,"endTime":2969.735,"body":"It's been tiring."},{"speaker":"Wally Waldron","startTime":2970.485,"endTime":2973.305,"body":"Uh, we've had a couple moments"},{"speaker":"Wally Waldron","startTime":2970.485,"endTime":2973.305,"body":"where we had to reach out to our"},{"speaker":"Wally Waldron","startTime":2973.305,"endTime":2976.455,"body":"advisors and they had to pull us"},{"speaker":"Wally Waldron","startTime":2973.305,"endTime":2976.455,"body":"outta the muck a little bit, right?"},{"speaker":"Wally Waldron","startTime":2976.515,"endTime":2980.415,"body":"So, you are not alone, uh,"},{"speaker":"Wally Waldron","startTime":2976.515,"endTime":2980.415,"body":"unless you choose to be."},{"speaker":"Wally Waldron","startTime":2980.595,"endTime":2980.985,"body":"Okay."},{"speaker":"Wally Waldron","startTime":2981.195,"endTime":2984.8849999999998,"body":"And so, um, find, find"},{"speaker":"Wally Waldron","startTime":2981.195,"endTime":2984.8849999999998,"body":"some guides along the way."},{"speaker":"Wally Waldron","startTime":2985.005,"endTime":2990.255,"body":"Uh, find advisors, um, and also pace"},{"speaker":"Wally Waldron","startTime":2985.005,"endTime":2990.255,"body":"yourself The way that we like to say"},{"speaker":"Wally Waldron","startTime":2990.255,"endTime":2995.265,"body":"it, and again, going back to that"},{"speaker":"Wally Waldron","startTime":2990.255,"endTime":2995.265,"body":"whole investor mindset is we're looking"},{"speaker":"Wally Waldron","startTime":2995.265,"endTime":2997.095,"body":"for people to run the marathon with."},{"speaker":"Wally Waldron","startTime":2997.945,"endTime":3000.6749999999997,"body":"when I say that, I'm talking about,"},{"speaker":"Wally Waldron","startTime":2997.945,"endTime":3000.6749999999997,"body":"I'm looking for people in our"},{"speaker":"Wally Waldron","startTime":3000.6749999999997,"endTime":3002.115,"body":"company to run the marathon with."},{"speaker":"Wally Waldron","startTime":3002.1749999999997,"endTime":3005.475,"body":"We're looking for clients to"},{"speaker":"Wally Waldron","startTime":3002.1749999999997,"endTime":3005.475,"body":"run the marathon with when we're"},{"speaker":"Wally Waldron","startTime":3005.625,"endTime":3009.165,"body":"working for, you know, bringing"},{"speaker":"Wally Waldron","startTime":3005.625,"endTime":3009.165,"body":"clients to the exit readiness point."},{"speaker":"Wally Waldron","startTime":3009.4049999999997,"endTime":3012.975,"body":"We're looking for relationships"},{"speaker":"Wally Waldron","startTime":3009.4049999999997,"endTime":3012.975,"body":"in the m and a and investment"},{"speaker":"Wally Waldron","startTime":3012.975,"endTime":3014.715,"body":"banking world family offices."},{"speaker":"Wally Waldron","startTime":3015.5299999999997,"endTime":3017.39,"body":"Who are ready to run"},{"speaker":"Wally Waldron","startTime":3015.5299999999997,"endTime":3017.39,"body":"the marathon too, right?"},{"speaker":"Wally Waldron","startTime":3017.39,"endTime":3021.98,"body":"Because it, it's a long game and"},{"speaker":"Wally Waldron","startTime":3017.39,"endTime":3021.98,"body":"it, and it, and it is very tiring."},{"speaker":"Wally Waldron","startTime":3022.19,"endTime":3027.86,"body":"And so, so pace yourself, um, you know,"},{"speaker":"Wally Waldron","startTime":3022.19,"endTime":3027.86,"body":"honor, honor yourself as a human being."},{"speaker":"Wally Waldron","startTime":3028.7,"endTime":3030.95,"body":"And, and, and that would"},{"speaker":"Wally Waldron","startTime":3028.7,"endTime":3030.95,"body":"be the first thing."},{"speaker":"Wally Waldron","startTime":3030.98,"endTime":3035.0,"body":"And then know that the business"},{"speaker":"Wally Waldron","startTime":3030.98,"endTime":3035.0,"body":"is a vehicle by which the"},{"speaker":"Wally Waldron","startTime":3035.0,"endTime":3036.17,"body":"human being could be served."},{"speaker":"Aaron Moncur","startTime":3037.625,"endTime":3038.4049999999997,"body":"Great advice."},{"speaker":"Aaron Moncur","startTime":3038.495,"endTime":3040.34,"body":"Alright, Wally, thank you so much."},{"speaker":"Aaron Moncur","startTime":3040.5299999999997,"endTime":3043.355,"body":"What, uh, an interesting"},{"speaker":"Aaron Moncur","startTime":3040.5299999999997,"endTime":3043.355,"body":"conversation that has."},{"speaker":"Aaron Moncur","startTime":3043.415,"endTime":3046.445,"body":"This has been, um, how can"},{"speaker":"Aaron Moncur","startTime":3043.415,"endTime":3046.445,"body":"people get in touch with you?"},{"speaker":"Wally Waldron","startTime":3047.21,"endTime":3048.41,"body":"yeah, absolutely."},{"speaker":"Wally Waldron","startTime":3048.47,"endTime":3054.44,"body":"Um, you can actually email"},{"speaker":"Wally Waldron","startTime":3048.47,"endTime":3054.44,"body":"us at discover@exitology.com."},{"speaker":"Wally Waldron","startTime":3055.325,"endTime":3059.645,"body":"And if you go to ology.com and"},{"speaker":"Wally Waldron","startTime":3055.325,"endTime":3059.645,"body":"click on methodology, you'll"},{"speaker":"Wally Waldron","startTime":3059.645,"endTime":3063.755,"body":"see how we are achieving these"},{"speaker":"Wally Waldron","startTime":3059.645,"endTime":3063.755,"body":"results in a greater, uh, detail."},{"speaker":"Wally Waldron","startTime":3063.9049999999997,"endTime":3067.745,"body":"Uh, there's, there's both a visual"},{"speaker":"Wally Waldron","startTime":3063.9049999999997,"endTime":3067.745,"body":"aid and a way to, uh, walk through the"},{"speaker":"Wally Waldron","startTime":3067.745,"endTime":3069.395,"body":"step by step of how we're doing that."},{"speaker":"Wally Waldron","startTime":3070.535,"endTime":3073.805,"body":"um, of course you can also"},{"speaker":"Wally Waldron","startTime":3070.535,"endTime":3073.805,"body":"find our book on Amazon."},{"speaker":"Wally Waldron","startTime":3073.835,"endTime":3075.1549999999997,"body":"It's called Ology."},{"speaker":"Wally Waldron","startTime":3075.245,"endTime":3079.025,"body":"And there should be plenty of ways to"},{"speaker":"Wally Waldron","startTime":3075.245,"endTime":3079.025,"body":"contact us from those, uh, vectors."},{"speaker":"Aaron Moncur","startTime":3079.59,"endTime":3080.25,"body":"Terrific."},{"speaker":"Aaron Moncur","startTime":3080.37,"endTime":3083.13,"body":"Alright, well Wally, thank you"},{"speaker":"Aaron Moncur","startTime":3080.37,"endTime":3083.13,"body":"again so much for sharing all"},{"speaker":"Aaron Moncur","startTime":3083.13,"endTime":3086.16,"body":"of this, uh, experience wisdom"},{"speaker":"Aaron Moncur","startTime":3083.13,"endTime":3086.16,"body":"with us today on the show."},{"speaker":"Wally Waldron","startTime":3086.345,"endTime":3087.035,"body":"Thank you, Aaron."},{"speaker":"Wally Waldron","startTime":3087.065,"endTime":3087.665,"body":"Appreciate it."}]}