Maximize Business Value Podcast

Tamara Jones - Key Performance Indicators (#99)

March 07, 2022 Tom Bronson Episode 99
Maximize Business Value Podcast
Tamara Jones - Key Performance Indicators (#99)
Show Notes Transcript

Joining Tom on this episode of the Maximize Business Value podcast is Tamara Jones - a partner with B2B CFO. Be sure to listen in this week because you won’t want to miss what they both have to say about Key Performance Indicators and how their importance is paramount to a successful business.

Tamara Jones is a hands-on experienced finance executive with more than 25 years of experience in both public accounting and industry. Her intellectual curiosity and skills in accounting, finance, operations, management and problem-solving steered her through her career in many financial executive and CFO roles. Before joining B2B CFO, she was President and CEO of a global restaurant chain. This combination of operations leadership coupled with her financial acumen is invaluable in helping business owners develop processes, systems, and financial reporting that increase cash, drive bottom-line results and improve enterprise value. Her industry experience includes restaurants, food service, multi-unit, franchising, manufacturing, distribution, healthcare, and real estate investment.

Tom Bronson is the founder and President of Mastery Partners, a company that helps business owners maximize business value, design exit strategy, and transition their business on their terms. Mastery utilizes proven techniques and strategies that dramatically improve business value that was developed during Tom’s career 100 business transactions as either a business buyer or seller. As a business owner himself, he has been in your situation a hundred times, and he knows what it takes to craft the right strategy. Bronson is passionate about helping business owners and has the experience to do it. Want to chat more or think Tom can help you?  Reach out at tom@masterypartners.com or check out his book, Maximize Business Value, Begin with The Exit in Mind (2020).

Mastery Partners, where our mission is to equip business owners to Maximize Business Value so they can transition their business on their terms.  Our mission was born from the lessons we’ve learned from over 100 business transactions, which fuels our desire to share our experiences and wisdom so you can succeed.

Welcome to the Maximize Business Value podcast. This podcast is brought to you by Mastery Partners, where our mission is to equip business owners to Maximize Business Value so they can transition their business on their terms. Our mission was born from the lessons we've learned from over 100 business transactions, which fuels our desire to share our experiences and wisdom. So you can succeed. Now, here's your host, the CEO of Mastery Partners, Tom Bronson! Hi. This is Tom Bronson and welcome to Maximize Business Value. A podcast for business owners who are passionate about building long-term sustainable value in your business. In this episode, we're going to welcome our guest Tamra Jones. Tamra is a partner with B2B CFO, a consulting practice that provides fractional CFO support and strategic planning for their clients. Now Tamra and I are both members of Vistage a trusted advisor group here in the DFW area. I've gotten to know her quite well, and I've heard her speak on the topic of key performance indicators or KPIs, and I've been wanting to get her on this podcast and share her knowledge with you for some time. So I'm so glad that we finally made this happen. This is such an important podcast. And as I shared with Tamra, I can't believe we made it all the way to the hundred and first episode without talking about KPIs. Trust me, you're going to be happy that we added this to our podcast. Welcome to Maximize Business Value Tamra. Thank you, Tom. It's such a privilege to be here with you today and to be never 1 0 1 with you. I'm happy to talk about a topic I'm very passionate about, which is key performance indicators. I am. So we've got the fount of knowledge here. So we're going to unpack that a little bit for our clients. So before we get started in that, tell us you're with B2B CFO. You're a partner here in DFW. Tell us a little bit about B2B CFO. So B2B CFO is a nationwide firm of about 150 partners. Each partner has over 25 years of experience. And our goal is to help privately owned businesses and specifically the business owners achieve their goals, whatever those goals might be for them. That's brilliant. You know, so many times business owners need that. So it's not just the kind of the CFO type of financial consulting. It may lead to other things to help them achieve their goals is what I'm hearing Exactly right? The strategic financial voice and partner that they need. And maybe haven't didn't know that they needed or can't afford on a full-time basis. Yeah, so many times there's confusion between kind of finance and accounting and your former partner, Greg Beck was on a podcast that actually explained the difference between finance and accounting. Accounting looks backward, finance looks forward to simplify it. And so that's really what B2B CFO does is helps their clients look forward and is much more of a, of a trusted advisor when it comes to strategic planning. I know lots of B2B CFO folks here in town. What's your background and why did you join B2B CFO? So I have over 30 years experience in financial roles, but also in a CEO capacity. And as I was looking for my next chapter, I discovered B2B CFO and what I really like about them. And the reason why I joined B2B CFO is that allows our partners, the flexibility to enter into engagements with our clients on a unique level, each business, and each business owner is unique and we get to customize our services to fit their needs. So when I learned about them and I have a passion for helping people and I have talent relative to strategy and finances, I said, this is for me. That's perfect. That's perfect. Now, if I were calling, hopefully I'm not stepping out of school here, you're with B2B CFO, but then you went to work for one of your clients and then you came back to beat at BCFO right? That is exactly right. I had a client that needed more support and somebody to help full time. So I did put my practice and an inactive status for a period of time and helped them achieve their goals at a, at a higher level, I guess, and was fortunate enough to receive a Dallas business journal award for that work. So I'm very, very proud of that work and happy to be back at B2B CFO. Now It speaks volumes about B2B CFO. If after you worked with them and then went to work for a client, you wanted to come back. So, so that speaks volumes about them. Well, let's talk about KPI. Something that you're passionate about as well as I am KPIs, key performance indicators, metrics. Some people call them, let's start with the basics. What are key performance indicators? So key performance indicators are really the scorecard. You might hear a lot of companies use that help measure the success against your goals. I think you've always heard that what, what gets measured gets done, think about KPIs that way. What drives your business? So you think about the traditional goal is I want to make this much money in net income, but there's many, many more KPIs that drive you to that result. Yeah. I put another way, you know, what gets measured gets done. I've always said that if you can't measure it, then you can't manage it. Right. So something that you can't measure, you can't put a value on, then how do you measure improvement if you think of it that way? So I know that our listeners may have heard that there are kind of two primary types of metrics or KPIs leading and lagging. So what is the difference between these two KPIs? So I'll start with the lagging because that really is the result of the efforts. So the earlier example of net income, or you might be measuring EBITDA or sales growth or things of that nature, those are really lagging metrics that tell you how you performed against your goal. Leading is those activities that help you achieve those goals. So in a sales example, it might be the number of sales calls being made. The number of presentations that you might make from a production standpoint, it'll be production capacity or production error rate, things that are going to be indicate, indicate how you're going to and a month or a week or a quarter that just as important as lagging, but leading helps you course correct during a period of time as well. So if you know, you don't have enough sales calls, for example, in the beginning of the month, you can ramp that up at the end of the month to get to a better result. That's nice. Is I, it almost sounds like that it's the comparison between accounting and finance, right? So lagging indicators are a function of accounting, right? Because all accounting does is reports. It's a history book, right? This has happened and finance being the forward-looking. So leading indicators would be helping you predict what's going to happen in the future. If I got that nailed down pretty well, That is exactly right. And one of the things that I like to do with my clients is not just calculate the point in time measurement. I help them get into the habit of forecasting, their KPIs, and that way they get ahead of issues. And as I look a month out a quarter out, so I, I think that's a great discipline that businesses should put in place. In addition to the point in time measurement. Well, you've given us some great examples. So, so lagging indicators might be net profit, you know, revenue, maybe recurring revenue, you know, things and leading indicators are, are maybe number of, you know, number of leads generated. I've always said with business owners that want to grow their business. If, if they're measuring these KPIs and they may not know them as KPIs, but if they're measuring how many calls they get, or how many leads they generate and how many of those convert to opportunities with clients and how many of those opportunities convert to actual work that you're doing. And then you can establish a value of that work that you're doing. That if you want to grow, it's just simply a matter of going back upstream and determining what you need. If I want to grow 10% and I've been growing at 5%, which means I needed to double my growth rate, I know how many leads it took to get there. Right. And, and just work the numbers backwards. Is that, is that a method that you use with your clients Actually spot on Tom? Yeah. You start with, if you say you want to be a certain size two years from now and you start breaking it down into those components that help you get there, you have to set those targets. Right? You have to know that in order for me to close so many deals, I need to have this many proposals. How long will it take you to do that? Maybe that proves that you need to hire another sales person, right. In order to achieve this number of calls and it helps you to plan. Right. Right. So yeah, you might not have that then goes to sales capacity, right. A salesperson can handle so much at, at one time. And perhaps you do need more salespeople in order to do that. The sooner, you know, that the, the easier it is to plan for that into the future. If you don't know that until it's too late, then you're already doing damage to the business. Right now. I know that there are literally hundreds, if not thousands of KPIs that a business could manage. And just a little side note, I have a client in, in Chicago that literally, they said, oh yeah, we've got a scorecard. You know, we're keeping track of that. And I, and I went to their management meeting when I first engaged with this client and Tamra, I'm telling ya, there were just hundreds and hundreds of KPIs that they were reporting on weekly. And I'm going, how in the world do you manage all? I mean, these all can't be that important right. To, to what your business is. So is there a process to determine which ones are the most important for a particular business? You're, you're making me laugh a little bit, Tom, because you're exactly right. I walk into situations like that all the time. And honestly, you know, I'm not saying that those KPIs, aren't all important. It's just what level needs to manage to those KPIs. Right? If you look at a production mid-level manager, they need to manage maybe an hourly production rate. Right. But at an executive level, they don't need to manage at that level. Right. And so what I often do when I engage with a client for the first time is there's lots of industry information. And that can tell you what your counterparts or other players in the market are measuring for their success. Oftentimes, admittedly, those are the lagging KPIs. And so you take those and you figure out what are the drivers in my business. That's going to make that API move. And then we work kind of just like we talked about earlier, you work backwards, right? What makes that needle move? And it's going to be different for each company. It really is an assessment and it's unique. So I encourage my clients to go through that type of the process. And just because a peer is managing, I use it a restaurant example, they might be measuring tickets, but they're doing it a very different way. A fine dining establishment is measuring what they used to call a perfect ticket. How many does the ticket have an appetizer, a dessert in addition to the entree and maybe a specialized beverage, right? But a casual dining establishment during lunch is more measuring the tickets for the turn, right. They know it's important for their customers to turn that table quickly and have that expediated service. So just because ticket measurement is an industry, KPI, different restaurants are gonna manage it different ways. What's important to driving your result. I served the restaurant industry for years. Isn't technology products and services business. And I hadn't heard that term perfect ticket. So you've educated me try it because you want an appetizer and, and your entrees and your salad and a dessert, right. If, and if you have coffee, that is just like over the top, right. That is a perfect, I hadn't really thought about it that way. So you mentioned that, you know, you should find industry standards. So this is a little off topic, but how do you go about finding industry standards? I mean, do you guys have tools that can help your clients find those things? Or, or where does, where does someone turn to find what is the rest of my industry mat measuring? We do have tools. And when we first meet a business owner, we will give them what we call it, a gap diagnostic report that benchmarks them against the industry free of charge, just so they have that information. And that will highlight some of those KPIs that are industry specific, but there's also other sources to get that information. Oftentimes if you have a really good banking relationship, the banks are looking at this as well, when they're underwriting your business, and they're not going to have that information. And then lastly, I would also suggest that you go to your industry, I guess meetings or conventions are, you know, every industry has something. And oftentimes if you read their publication, you can pull out of different articles, what people are measuring. Yeah. Yeah. That's I say that industry trade associations are among the best. Typically at this, I I've got a, an industry that I do a lot of work with with their members. It's the, a retail solution provider. So they provide technology to retail and restaurant businesses and their client or their members do, but they do us just a spectacular job of kind of measuring the entire industry so that when you do surveys in your own business, you can determine kind of how you're benchmarked against the other folks. And I I'm really surprised at the number of people who, who don't really utilize their trade associations for just that, to me, that is one of the biggest benefits a trade association can provide you is benchmarks around KPIs. Yeah. It's an excellent source. And we service so many different industries. And when I'm trying to learn industry that maybe I haven't touched in a while. I that's the first place I go in addition to our own tool is, and what's the, what's the trade saying? You know, what are the publications saying? That's one thing that's important about KPIs. They do evolve over time. I think living through COVID right. We've learned that you gotta always be looking at your KPI versus your goal and what you're measuring. So when you're right, you're absolutely right. And frankly, if you're kind of setting targets, the target may move because of changes in the industry. Right. I mean, as you know, I, I used to be one of those, Hey, what do you, what happens if something happens that you don't expect? But now I have the example of COVID, right? Because now everybody understands that. What, what do you mean when I don't expect something? Well, let's talk about COVID for a minute. How did that impact your business? And that may move some of your KPIs. So before we take a quick break, when you're determining your KPIs and kind of setting up the scorecard, which we're going to talk a little bit about a little bit after the break, should you include both leading and lagging indicators on your scorecard? Absolutely. It's important to have a good of both. If you don't have the leading indicators, you're going to wake up and realize that you missed your goal on the lagging indicators and you don't want to, you don't want to have that happen. So it's, it's always smart to know what the key drivers are. And if you think about an executive scorecard, what is most important? And if you look at EOS as an example for an operating system, you know, they say, if you're sitting on a beach, what are those top five to eight things that you need to know to know that your business is running good while you're on the beach? Right. That's awesome. Well, we're going to talk about scorecard just a few minutes. We're going to be talking with Tamra Jones and we're going to take a quick break. We'll be back in 36, Every business will eventually transition some internet employees and managers, and some externally to third party buyers, mastery partners, equips business owners to Maximize Business Value so they can transition their businesses on their terms. Using our four step process. We start with a snapshot of where your business is today. Then we help you understand the way you want to be and design a custom strategy to get you there. Next, we help you execute that strategy with the assistance of our amazing resource network. And ultimately there'll be able to transition your business on your terms. What are you waiting for more time, more revenue, if you want to maximize your business value, it takes time. Now is that time get started today by checking us out at www.masterypartners.comoremailusatinfoatmasterypartners.com. We're back with Tamar Jones, a partner with B2B CFO, and we're talking about key performance indicators and why every business should have them and use them. So before the break we were talking about kind of the leading lagging indicators and those kinds of things, is it enough to just determine what you should measure or should you also set targets for each of your KPIs in order to ensure optimal performance? You absolutely need to have targets has that it's like having, going somewhere without having a map for knowing your destination, right? So everybody's heard of smart goals. So you need to make sure that it is a smart KPI. And specifically I'm focusing on the measurement of that. You have to pick things that, you know, you can measure today. You don't want your conversations at the executive level to be over the integrity of the measurement. You want it to be focused on how to improve that measurement result. So smart. You mentioned smart goals. They are a specific, measurable, attainable, relevant, and time-based, so they've got to have a time. And so I'm a big fan of, of setting smart goals. So it's not enough to just say, how many leads are we getting on a weekly basis? But if you're what I'm hearing from you Tamra, is that if, you know, if you've already kind of done the math and you know how many leads you need in order to get the achieve, the business goal you want to achieve so that your lagging indicators will be where you want them to be, then it's all right. Well, our target for the week is this many. And if that's 50 or 500 or whatever that number is, you can see week to week how you're comparing against what the target is. Is that right? That's exactly right, Tom spot on. Again, we talked about that earlier in this podcast that, you know, you start with the end goal in mind, and then you work backwards, right? Part of that working backwards is establishing what those measurements are going to be. And those measurements might scale over time, right? You might know that you're starting smaller. Let's say, you know, you're going to do 50 calls a day or a week, but you're going to ramp up over time to a hundred calls per day per week. Let's say six months from now, so that you can see that evolution of growth in the business. And you may not have capacity to do a hundred calls. Maybe you need to hire a sales rep in order to be able to do that, or, Or some other technology tool to help you reach those goals. Yep, exactly. Now I know you, you do this and we've already used the word scorecard. We recommend that our clients set up a scorecard to track and measure their KPIs. And we say to do it weekly, right? Because the more frequent you can look at it, the more you can make those adjustments to, to impact the outcome. Now we didn't make this up. We borrowed kind of the scorecard concept. There's a lot of different places to talk about it, but one of our favorites and something you've already mentioned is the entrepreneurial operating system or EOS as described in Gino Whitman's book traction. So how frequently should a business really be measuring and reporting on their KPIs? Okay. I, I agree that at an executive level, weekly is the right time period for that. But as you work your way down, everybody in the business should have a number, right, that they're trying to achieve. And some of those numbers could be hourly in some of those numbers could be daily. I have a, I have a landscape company that I work with, and it's really important for them to manage that labor and their overtime percent weekly, if they're going to achieve their gross margin percent. And so they've actually looked at other indicators daily, so they can course correct during that week to make sure that they're achieving the overtime percentage that they've baked into their numbers. Oh, brilliant. Yeah. Some of them should be probably maintained daily. You know, I will tell you a great example of kind of a daily KPI for me in all of my businesses and our listeners know that I have bought or sold a hundred businesses in my career. And one of the big numbers that I look at every day is cash. I want to know where our cash is. Right. And so I want to know and baked into that. I want to know how much cash we have available for use, right? So in the bank right now, I want to know what our AR looks like. I want to know what our AP looks like, so that I can predict. And I want to know where when payroll is kind of, so that I can predict when I'm going to need to use that cash. And the long running joke at, at my last business was before my key went in my door, our CFO was to hand me a slip to tell me what our daily cash was. And, and I mean, it wasn't that, but that was kind of the long running joke, but it was right. I mean, within, within minutes of arriving, I wanted to know what what's happened with our cash. Right? And are we, are we going according to, to the way we predicted it, am I going to need to increase my line of credit in order to solve a problem? You know, that, that I can see on the horizon, but if you don't predict cash and you don't think about where your cash is, that's probably the number one reason why most businesses go out of business is they don't plan for cash. And then suddenly there, it was something they don't expect. Right. So now, And tell you, Tom, that, that, that I would say over 50% of the business owners that I meet and not, and engage with, do exactly what you do, right? They want to know those exact same numbers that you just quoted relative to manage your business. Cash is king and people know cash, right? And one of the things that we make sure that we do to help that is, is that 90 day rolling forecast. So you have that, that look out because some things only get paid quarterly. If you're one of the fortunate ones that only have to pay sales tax quarterly, for example, and you need to know when those big things are gonna hit. Yeah. That's well, and I didn't, I didn't give the rest of the tape, but that was a great lead in. You're a great straight person for me there, Tamra, we, we actually had a cash forecast that ran out 36 months. We were, we were three years because while you think about the, the complexity of our business, we were doing, we were highly inquisitive. So we were buying lots of companies. Well, I had big lumpy payments coming quarter after quarter after quarter to pay off some of that debt. Right. And so if I know that that's coming and suddenly I get hit with payroll, a huge AP and, and I've got to make some quarterly payments, well, it's too late to do something about that. If you find out when that's happening, but I can predict that in advance to know whether or not I needed to go borrow additional capital from the bank or raise additional capital with our investors. And I could predict that a year in advance, two years in advance, and we could track to that so that we would know it's so important to kind of understand. So 90 day forecast at minimum, in any business to really understand where your cash is going. And I wanted to revisit one more component. You mentioned that, you know, at all levels in the organization, and I think you're right, all levels, the organization, everybody has a number everybody's managing to a number. And, but in your executive level, you don't need to know all those numbers. Now you can drill into the detail if you want to. So what I did in my last company, I had a number of departments and a number of business units or departments within those business units. And then overall. And so in our weekly management meeting, everybody was reporting on two or three of the most important KPIs that we knew were the drivers in our business. And if we saw now, they may be, say a support manager. He's not only tracking, you know, time to resolution, you know, how many rings before we answer, you know, who's taking more calls who, you know, the severity of the call. I mean, we know all that stuff, but all I wanted to know from him, you know, were a couple of things. And if we saw something very in the two or three numbers that he was reporting to us, the executive level, we could always drill into the detail to find out if there was a bigger problem. So, so when I talked about that client who was measuring hundreds and hundreds, it's okay as you get down the line, because there might be numbers that, that are important to manage an apartment. But at the executive level, I say, I used to boil it down to maybe a dozen things that I wanted to know every week. That would be the drivers in my business. Is that too many or too few? I would say that that's the right number, right? You don't want too many because then you can't manage them all. So I would say, you know, a good rule of thumb and what I see is anywhere from, you know, eight to, I would say on the maps, 15 is what I've seen and that's probably pushing it. Got it, got it. Excellent. Well, you have given us a great education on KPIs and frankly, I think you, and I could probably talk about this forever, but, but before we do a one last question, because I am, I think very highly of your organization of B2B CFO and the folks, and specifically the partners. And it, I mean, there are some really great folks who do some great work there. So, so before we go, let me give you an opportunity to commercialize what sets you and B2B CFO apart from other financial consulting firms and other strategic consulting firms. I would say one of the key drivers for that is we oftentimes are strategic advisors for our clients for many, many years. I was just talking with a fellow partner on Saturday, as a matter of fact, who has had the same client that he started with 17 years ago, as you know, just the strategic voice to help that business owner think through things. And so what you get with B2B CFO is that trusted advisor that you can rely on. We do all of our own work. We might tap into your staff, or if you have a hole in your staff help you find the right person, but we don't have a bench of people that we're trying to put to work, to help do some of the other controller level work. We really are your partner and your strategic trusted advisor. That that is awesome. And you know, you, you bring that up controller. We talk about, you know, as I think about kind of the accounting and finance functions in a business so many times business owners think, well, I've got this great, you know, accounting person that that is really a controller. And then not, I operating as a, as a CFO it's I would really challenge any business owner that, that doesn't have a CFO level person. And this is a person that is helping you think strategically about the future of your business and how your finances impact that future. Then you can always find a firm like B2B CFO, and find a fractional person that that costs just a piece of what a full time CFOs you think about needing a full-time CFO, perhaps you can't afford that. But I would argue that most businesses could, could really benefit from having a fractional, a person who's really focused on that forward thinking piece of finance, not just keeping score on what happened, right. Does that Exactly right. Tom, every, every business needs a CFO at the end of the day, it's just what they can readily afford to, to, to handle at any given point in time. But, you know, I would say that a lot of our clients, you know, we only meet, might meet with once a quarter, but I have other clients that I'm them every week. Yeah. Cause we're working on some really big things for them. Yeah. That's awesome. I I'm, I'm a big fan of the model. So one last business question here, this podcast is all about maximizing business value. So Tamra you've been in business a long time. You've you've been the CEO of business. You you've been helping folks. What is the one most important thing you recommend business owners do to build value in their business? Well, this is going to sound a little bit repetitive, but you have to know where you're going and set that goal. Even for me as a partner of the firm, I set goals for what I want to do every year. And I have it posted on my wall and oftentimes having it in front of you helps you focus on it and achieve it without the goal where you don't really know where you're going. Well, it's like running a marathon that it doesn't have an ending line. Right. And even if your goal for some of these people that you work with, Tom is to die at your desk, right. They're not looking for that exit necessarily. The question is, what do you want to have happen with your employees and your family? And then you're planning for that. Well, that's it. I ask all the time, that's one of my favorite questions to ask business owners. What happens to your family and your business, if something happens to you, right? And, and there are lots of look, I know lots of, you know, aging, baby boomers. I'm a baby boomer myself, just cause I said, aging doesn't mean anything. Right? And so I know lots of may aging baby boomers that really just can't imagine exiting their business. And they know that, well, I'm just going to probably die behind my desk. That's fine. That is an exit strategy by the way. Right. But what are you leaving to, to your heirs and to your business, to your customers, to your suppliers, to your family. And doesn't it make sense to plan for those things in advanced boy, it's like a commercial for, for what we do here at mastery. That's perfect. I love that. So, but I can't let you get away without asking my bonus question. Cause everybody listens to our podcast because they want to hear the answer to this. My bonus question for you is what personality trait has gotten you into the most trouble over the years, Tamra, I would say being my curiosity, it got me in trouble early on because I kept digging into things that I was told. Weren't in my purview early in my career. And when you start in big firms, I started at Deloitte years ago, you have a limited amount of time to get that audit complete. And you know, don't go, don't go down that path. You don't have time to do it. So I used to get my hands slapped, but I also attribute that to my success. I'm surprised that you know, the school, you know, we grow up in a school system that tries to beat the curiosity right out of us. Right. I love that. I love curiosity. And I asked, you know, I tell our clients or prospective clients when we get on the phone, I just asked, I apologize for asking all these questions. I just, I just have a lot of questions. Yeah. I can't learn anything if I'm, if I'm doing all the talking. So how can our viewers and listeners get in touch with you? The best way is to go to our website, which is www B2Bcfo.com. And then he can put my name in and get in contact with me there. But also I always answer my phone and that number is (214) 213-7619. Thank you, Tamra. You have been a wonderful guest and you have really educated our listeners on the value of KPI's. Thanks for being with us today. Thank you Tom. I appreciate it. It's been a pleasure. Now you can find Tamar Jones at B two, the number two B2B cfo.com or on LinkedIn. And of course you can always reach out to me and I will be happy to make a warm introduction to my good friend. This is the Maximize Business Value podcast, where we give practical advice to business owners on how to build long-term sustainable value in your business. Be sure to tune in each week and follow us wherever you found this podcast. That way you'll never miss an episode. So until next time I'm Tom Bronson reminding you to really think about determined your KPIs and then relentlessly manage them while you Maximize Business Value Tuning into the Maximize Business Value podcast with Tom Brunson. This podcast is brought to you by mastery partners, where our mission is to equip business owners to Maximize Business Value so they can transition on their terms on how to build long-term sustainable business value and get free value building tools by visiting our website, www.masterypartners.com that's master with a Y mastery partners.com. Check it out. That was perfect. I wouldn't make any changes on.