S5E4: Hazy Nosh IPA | What’s up with the stock market? | Setting up your financial books for success

Disclaimer: The information in this video does not constitute Financial Advice. Consult with a Financial Advisor before making any decisions regarding your finances.

This week Pam and Francis team up to break down the essentials—setting up bank accounts, handling taxes, and picking the right payment processors. Pam grabs a Hazy Nosh IPA and breaks down updates with the financial markets, stressing the value of long-term investing.

So grab a cold one, tune in, and learn how to kickstart without stumbling over money matters. This is your playbook to staying ahead in the financial game.

5 Key Lessons:

1. When starting a business partnership, set up separate checking and savings accounts to manage finances effectively.

2. Plan for taxes by setting aside 12-18% of revenue in a dedicated savings account.

3. Choose a payment processor like Stripe for ease of use and integration with accounting software like QuickBooks.

4. Keep detailed records of expenses and receipts for tax purposes, especially for expenses over $75.

5. Focus on long-term investing and avoid panic during short-term market fluctuations.

📰 On this week's What's News:
https://www.coindesk.com/markets/2024/08/05/first-mover-americas-bitcoin-crashes-to-50k-as-perfect-storm-hits-crypto-market/amp/

Today's Brew🍺: Uinta Brewing Co. Hazy Nosh IPA

🍻 The P.B.K.P.I (Pam's Beer KPI) Scale ⚖️: 
1. Pam's Not Touching It
2. It's Sippable
3. I'd Drink it Again if You Gave it to me
4. I'll Order it if it's on the Menu
5. I'll Seek it out

About the Brewery: 
Founded in 1993 in Salt Lake City, Uinta Brewing Company has earned a reputation for crafting award-winning, approachable beers across a variety of styles. Named after the only east-west oriented mountain range in the continental U.S., Uinta has always followed its own path. As Utah’s first brewery powered by renewable energy in 2001, Uinta remains dedicated to brewing innovation and environmental responsibility.

🍻 Learn more about Uinta Brewing Company: https://www.uintabrewing.com/

Transcript

0:00

And moving it around and saying, oh, that was personal and that was business. Bookkeeper can take it and create your tax return just like that. Or you can go ahead and just get a quickbooks online or a xero or fresh books or any of these online services that really do a good job for. I think it's probably $49 a month for the minimal package. That's not bad at all. Now, I bought us up a level because QuickBooks has an ability for us to submit our receipts. Hey, welcome back to the Cash Flow podcast with me, Pam Pryor. Glad to have you here, where we talk about everything money related in your business. So without further ado, let's hop right in and welcome back to Cash Flow podcast. I'm so glad to see you and talk to you again. And as we continue to do on Cash Flow podcast, we are changing it up a little bit again. We're going to continue to try and refine this and make it the most useful podcast out there around your business finances. So here's what's going to happen going forward. We're still going to have three segments. The first segment will always be some sort of news that's relevant to entrepreneurs, small businesses, or an interview with a guest who's also a business owner and maybe dealing with some sort of financial question or opportunity or struggle. Our second segment will always be our brew of the week, where we will test out a new beer and let you know a little bit about it and the brewery. And in the third segment, what we've realized is people are getting a lot of value out of following along in real time our journey that Frances and I are on in setting up a new partnership. So I have a business, Francis has a business. But we've all just also decided there is a business that we can partner in together. And we're starting from scratch. So we're literally going through everything. I teach new businesses and sometimes businesses that have been in place for a while, every single piece of what you need to do as you set a business up from a finance perspective to get all those future headaches out of your way and set yourself up for success. So we're going to have the second episode in that series today. I'll refer you back to the first one. Don't worry. And you're going to follow along. We are literally at the beginning. We've just signed the partnership agreement. So you're going to literally see exactly what you can do if you're setting up your business. But if you're further along in the business journey. You can also follow these episodes because it may be the stuff you never did do in the beginning, and taking care of it now will make your life so much easier. So I'm really excited about this new format. I know Francis is as well. He's going to remain both behind the camera, but then he'll be in front of the camera for our third segment every week. And we're going to jump right in to this week's episode. So in our news segment this week, you're going to probably see this a week later. But right now, today, which is the day I'm recording, this, is August 5, 2024, and all hell is breaking loose in the markets. And there's this whole panic thing going on that I want to talk about, help everybody take a little bit of a breath before they get too upset. And then in the second segment, our beer is called Hazy Noosh. N o o s h I p a from a brewery in Salt Lake City, Utah. So we'll bring that to you with my taste test and my KPI for how good I think it is. And then finally, in our third segment, Frances and I are going to move along to the next steps after the ones we took on our first episode. So stay with us and learn all you need to know this week about cash flow. So the news today is a little bit different because the financial markets on the day we're recording this, which is August 5, are in a little bit of turmoil. Everything seems to be falling. You know, the s and P 500, which is a number that everybody watches and uses it kind of as a proxy for the economy. If the s and P goes up, people think things are good. The s and P goes down, people think things are going badly. And that's oversimplifying, of course, but it's been a gauge over time. Truth of the matter is that s and P number just goes up and up and up and up and up and up over, you know, 100 years kind of thing. But it does have these dips and increases and dips and increases. And right now, it's in one of those dips, and it's had a pretty severe dip. In fact, so severe that the systems that Nasdaq and all of the stock markets run on actually crashed today. So what tends to happen sometimes when that goes on is that people kind of panic and go, oh, my God, it's the beginning of the end. And if you're looking at the crypto markets as well. So bitcoin and ethereum, both of those dropped really severely today. So the bitcoin, I don't know if you follow it, but it's been running in this price of 64, 65,000. It actually crashed in one day all the way down to 49,000. And now it's up, hovering around 53. I'm not sure what it is on the day you're hearing this, but we're popping the screen up on the chart for both of these. The chart up on the screen for both of these. For those of you that are watching us on YouTube and what you see just to describe it for you who are listening, is just one line going straight down on the day. The thing I want to put in perspective here, and this is definitely not investment advice of any kind, because I don't give investment advice. But if we look back at the most recent time that the markets, both the S and P 500 and the bitcoin prices were at these levels, it's not like it was 100 years ago. Okay, the S and P 500 was down here at right now it's at $5,000. Yesterday or Friday it was at$5,500. So it dropped by about dollar 500. Well, the last time it was at 5000 was only two months ago. So if you look at the S and P 500 or any of these numbers as kind of a proxy of the market, the worst we've done is revert back to May of 2024. And bitcoin's price now is about what it was in February of 2024. And I don't know if you remember, but bitcoin had some news and stuff in the March timeframe that really pushed the price up. But the big thing I want to point out is if you watch these numbers, if you listen to this stuff and you hear it in the background, you know, is this a recession? I think that's a big overstatement for right now for one day. And I would say step back. If you have money in an IRA, if you have money in a 401K, again, this is not investment advice, but you're not putting money in there on the whole to watch it go up and down month after month. You're putting money in those investments because they grow over time. And both the stock market and crypto have proven that over time, they tend to go up in value. So I just want to kind of put that out there on a day where I've heard a lot of people saying things like, oh, I got to call my broker and sell some stock again. And I know I cannot say this enough. This is not investment advice, but just be aware of whether you're putting your money away in savings for the long haul or the short term, and make your decisions based on that, not necessarily on the fact that all the news anchors might be saying the sky is falling today. So that's our news segment today, where hopefully I put a little bit of a tempering on the news that might be out there when you hear this podcast. Have a good one. And you know what? I need a beer after that. So let's go to our brews segment. And we're back for our Bruges segment. Hey, so glad to have you here. Wanted to let you know, I actually am in a IPA of the month club, and we're going to try one of those today. And what's really cool about them is they come with a nice little write up. So here we are today trying a beer called hazy nousch. I p a. And it is from a brewery. I'm not sure how to pronounce this, but it's u I n t a. So I'm going to say Winta. Wintah Brewing company in Utah. So this was started in 1993 by a gentleman named Will Hamill, who was from Maine. So he loved the outdoors and wanted to combine his love of both beer and the outdoors, which I think is fantastic. He relocated to Utah, and when he got out there, he loved the outdoors. I don't know if you've been out that way or if you live out that way, but man, it's gorgeous. And if you're an outdoors person, that is a place to be. So he loved it, but there was no good beer out there in Utah when he got there, so he started his own. And that's what we're going to try today. I'm going to go grab the hazy noosh here from the fridge. Nice can and see what we've got here. Now, the abv on this one is 5%, so relatively light for an IPA. And the IBU, which, if you'll remember, is. Let me see. Yeah. International bittering units here are 45, if you remember, there's that scale of zero to 120. And the higher the number, sort of the more bitter the beer is. This one is balanced by Pilsner wheat and blood roasted oats as some malts. So it takes some of that bitterness out. So you don't always know from that IVU number that it's got to be bitter or not bitter. It just tells you how much bitterness is there. Sometimes it gets rounded out by other things. Now, nice color. I really like that. Sort of a orangey goldish. Oh. Oh. That's got a really good smell. And it's exactly what they say. I don't know if that's me being lead, but it's citrusy a little bit, but not overpowering. Feels a little hazy, which makes sense, because it's quite a hazy noosh. And let's see what happens. It says it's supposed to balance and not be a very bitter beer. So as ipas go, very citrusy front. Very citrusy. Okay. Yeah, I like it. It's a little too much citrus for me. That has. Let me see what the citrus is in this pineapple. Mango. Mango. It's the mango. I don't dislike mango. In fact, I like mango, particularly on water ice. But tasting it for the first time in an IPA, it's okay. The bitterness doesn't come in fast enough to really chase that back. It's okay. So my PBI. Pbki. Jesus, I'm never going to get that right. Pbkpi, remember, we're a scale of one to five where one, I would never touch it again. I would hunt the world to find it. I'm going to give this a two. I don't think it means it's a bad beer by any stretch. I just think it's my own taste. And I don't like quite so much citrus, but very good IPA. Roll in the back at the end of the taste, which is nice. If you do like a citrusy IPA, you'd probably give it a four, four or five. So cheers to you. And we're going to move right on now into our segment with Frances on starting up a business. So, Francis, welcome back. I'm so excited because we are transforming this segment into a real time journey along with you and I, as we literally set up our partnership, and we are going to share with everybody, transparently, the stuff that goes well, the stuff that goes poorly. And I think you said, as we fail and scale. Yeah, exactly. Hopefully more scaling than failing, but just to get everybody kind of caught up, Francis owns his own business, I own my own business, and we have determined that there's a really good overlap in what we do. So we're creating a new partnership, literally from nothing. So he's had tons of client, and his skillset's been built over a ton of clients. But in our business now, we're just starting to get our first client that's part of this partnership. So we are going to walk you through from the very beginning. What do we do and so, Francis, you didn't have the luxury of this the first time you started your own business, and now you're kind of doing this from scratch, and we're able to show everybody how to do it the right way. Yeah. So what was your very first question? When we decided to do this? Partnership. Yeah. So when we first kind of sat down on the couch two, three weeks ago, we ran through starting to make money. How do I manage the money? How do I separate the money that I'm bringing in, business wise, from my personal finances? And then also, how do I stay out of trouble with the government? I love it. Two really important questions. So tell, why don't we rehash for everybody, just to make sure, and for folks who are seeing this for the first time. Yeah. What are the first two things you did? Two or three things that you did after that conversation? Yeah. So the first thing was you gave me some homework. Not the boring kind of homework. It's actual practical stuff to the. To really start to apply. But the first thing I did two, three weeks ago was I opened a bank account for this specifically. It's not a business bank account, it's a personal bank account. Personal checking and savings account through ally bank online. I chose an online bank, just kind of going back to what we talked about. It was good opportunity for a higher APY in savings, which we. What is APy for our guests? I don't know. It's annual percentage yield. It basically is interest rate. Yeah. Right. So it's an annual interest rate. And I want to break down one thing you said, the queen of interrupting. But I want to make sure everybody heard what he said. He said he opened a personal account and that's completely fine. I often hear from clients, oh, my God. I have to keep my finances commingled because I don't have a business yet. Because we haven't set up the business that's coming down the road. It is okay to set up a personal account. So keep going. And you just set up one, or what did you do? No. So I set up a checking and a savings account. I did a checking just for the management of expenses, tracking all of that, tracking the income of stuff. But then we also set up a savings account as well. The savings account. We, Ally allows you to set buckets. And the buckets, we created one specifically for taxes. And we're going to be putting 30% of anything that comes in, income wise to the business into that. Just to make sure that we're protecting ourselves long term for when taxman comes around in April. We're all covered. And we don't have to scramble and worry about putting together a check for x, Y and zenith. Truth is, we may never need to use it because in the first year, and this is really important, folks, if you're early in the journey or even if you're just starting to make money. But we probably won't make money here in the first six months. Right. So the tax year ends in five months. And we're going to probably. We'll make money, we'll make revenue, but we're going to spend it because we're in. We're starting up. Yeah. We're scaling. So we'll probably have a loss this year and won't need that money. But guess what? Now we'll have money in a savings account already towards next year when we will have income and we'll be able to pay that tax when it needs to be paid. Yeah. The other thing I will say is we are taking an ultra conservative approach because that's how we chose to do this business. And you probably don't need to put aside 30% of your revenues. We are, because we want to. It'll probably be more in the. When all is said and done, you probably need somewhere between twelve and 18%. Yeah, but we're being very conservative there. Okay. So you set up two bank accounts. Yeah. So we have two bank accounts. One both with Ally, one checking, one savings. And then we created the buckets to really manage out that, specifically taxes. This is where that's going. Awesome. And then aside from that, we're taking other steps in other directions. But the one question that kind of came to mind as we've been doing it, is we're filing a partnership agreement. We're creating all this stuff. What comes next? Yeah. Great question. There's so many things going on in my brain. There are a lot of things going on. And so we're going to step through this stuff and not do more than two or three times a week just so that folks can follow along with us. But, and the first thing, though, is we got a client in the partnership instead of your regular business, and we have to collect money. Yeah. Right. So the next thing is, how do we collect money? So we had a conversation and what did we ultimately decide on how to collect money? And how did you do it? How did you collect the money from this first client? Yeah. So we ultimately, I think your, per your recommendation, it was either quickbooks or stripe. And we ended up going with stripe just because of usability and, and we created a payment link with different, we're, the service packages that we offer have different things. So the payment link outlines all of the options that come along with that. And basically the customer goes in, they fill out the payment link, and it's all set up and automated, so we don't touch the credit cards. They don't have to worry about security or anything along those lines. It's all handled through stripe, which is a trusted name. I love that. And now let me ask you a question. Was it hard to set up the stripe link? No, the stripe link was easy. Okay. So any business owner could go open a stripe account and it's stripe.com and get in there. Now, I'm not recommending stripe over anything else. For us. It made sense. So let me explain the pros and cons on stripe. So, first of all, stripe is easy to use and set up. Second of all, it's not intimidating to new bankers. Third, you don't really have to have any business history to have them start collecting money for you. So that's pretty easy. Now, the other alternative we considered there was Quickbooks. Yeah, Quickbooks really doesn't let you do much until you've got a history in your checking account. Gotcha. Right. Whereas stripe is like, okay, we'll collect your money for you. There's a downside. So hold on for the cons. But, and then the fourth thing was, most people are familiar with it, like, oh, they're used to giving their credit card to stripe, I should say. There's a fifth thing. When you collect people's money on a credit card, you're responsible for the safety and security of that credit card information. And if anything should ever happen to that credit card information, you are liable for it happening with stripe. That's not the case. Right. They take that responsibility. When somebody swipes their card, they have all this junk in place that makes sure that that never gets lost. And should there be any kind of a breach, it is their responsibility. Again, this is not legal advice. And read the terms of the stripe agreement because there's all sorts of junk there. So that's all the pros. We pick stripe. The other two things, while just kind of going through setup, which I didn't realize was clients can pay with Apple Pay and they can play with Google Pay too, through as well, which are two huge bonuses, day and age. Absolutely. I didn't know that. So literally they can just happen. And you can also get, if you happen to sell stuff, like, say you're setting up a business and you're selling stuff, or we may sell books or something. At some point, we can get a little swiper duty, and people can just swipe their card and also pay us for things. So that's really good. The other thing I like about stripe as the geeky CFO of our company is that it connects very nicely to Quickbooks. Now, that was the second thing we had to do after we figured out how to collect money is where do we want to keep track of what happens? Now, there are two ways to do this. Well, there are three ways. There's the wrong way and then two right ways, and you can pick between them. The wrong way is to say, eh, I'll worry about it later. So if you're starting a business and you're at, eh, I'll worry about it later. Let's go ahead and take care of step number one, which is set up the checking account. But then you need to pick between one of these other two ways to keep track of things. Either if it's gonna be relatively light year, not a lot of stuff going in and out, you can wait till the end of the year and run a printout of all your bank statements or a download of your bank transactions, both your checking account and if you have a credit card, which we'll talk about next week, credit cards. And you can then give it to a bookkeeper. And because it's all in one place and you're not pulling it out of your personal checking account and moving it around and saying, oh, that was personal, and that was business, bookkeeper can take it and create your tax return just like that. Or you can go ahead and just get a quickbooks online or a Xero or fresh books or any of these online services that really do a good job for. I think it's probably $49 a month for the minimal package. Oh, that's not bad at all. Now, I bought us up a level because Quickbooks has an ability for us to submit our receipts. So every time Francis goes out and has a business dinner with a client is talking about marketing, he just sends his receipt into QuickBooks, and it automatically matches it up to the transactions. For me, I never have to pester him for receipts. We never have to wonder what he was doing. It's just there. So that's another reason I liked Quickbooks or Xero as the solution with Excel. You can't do that. You'd have to take a picture, keep it in an album, save it till the end of the year, and then try and match it up with stuff. And keeping the receipts from the start is a really good idea because I don't know if you all have noticed, but the, the IR's is ramping it up. Yeah. They are sending notices to everybody about everything, and they're going to start auditing for receipts. Now. One thing I didn't tell you that I wanted to is you don't have to keep receipts for anything under$75. Oh, wow. Right. Okay. That's good to know. So that's a really important piece of information. The IR's minimum is dollar 75. Again, this is not tax advice. There are a few exceptions to that, like hotel bills and a couple of others, but, so you don't have to send those in. I have a filing cabinet full of paper I can now clear out now. Thank you. There you go. You can get rid of them. So what is the other little surprise that we found with stripe? So we got paid first. Client paid us. Yeah. And do we have the money yet? No. So we got paid about a week ago, and we don't get paid out, I don't think, until tomorrow at least. Yeah, that sounds right. And here's the deal with that. So stripe, basically, like, anybody, any of these payers, and none of them are any better or worse than the other. PayPal does it. Stripe does it square? Does it. They wanna make sure that we didn't collect money. This is our first transaction. Is this business? They wanna make sure we're not a scam. So they're gonna hold onto it long enough to make sure that this guy or gal isn't gonna come back and go, I want my money back. This was a scam. So when you first start with stripe, they're gonna do this to you. Now, if we also go from sort of a medium priced item and all of a sudden charge somebody ten times that for something, they'll hold that money again, even if it's four years down the road. Oh, wow. So they're really. And now with AI, it's getting even more detailed. They really watch your transaction patterns and they let you, once they realize you're legitimate and you're not getting disputed all the time, they're like, okay, we'll give you your money faster. Gotcha. So it's gonna work its way up to being every day or two. They'll be, maybe there's a day or two lag and we'll get the cash from them then. So that is the con. But it's not a stripe con. Okay, quickbooks. Does it stripe? Does it square, does it? It's a new business con. Yeah, it's a new business con. It's just the way it is. You got somebody collecting your, unless you want to get a check, go to the bank, deposit it. You'll still be waiting because they have to clear the check. So it's just, it is something to really be aware of. The other thing you're going to find with this checking account, it's the first time we go to pay a bill out of it. It's going to take them a little while to pay that bill. Oh, okay. They like to really make sure that, I don't know what they're making sure, but they're not clearing out the balance or whatever. When I had this fraud recently, I set up a whole new checking account. I actually went with relay, which is a business bank. And I did actually, though, find out, though, that relay does not require you to have a business set up. Before, when I was looking into that, like, that did come up. Well, that's good. But then also, like, I kept making payments out of the account and they wouldn't release them. Oh, wow. And then one time they released them and they pulled it back. So my vendor's like, why did you take your money back? I'm like, I don't know. And they said, oh, this just happens when you're new. So I don't know if that's a relay thing or if Ally will do the same thing, but we'll certainly be watching and keep you all posted on that. But it's something to really be aware of that you can't get your money as quickly as you think you should, and you can't spend it as quickly as you think you should. So just be aware that those little, little glitches happen. Okay, so you're gonna ask a quick question. So when we were doing this process, one of the things that came up was PayPal, and, you know, not setting it up with PayPal. One, what are the reasons behind not doing payment processing through there? And then two, if you do it, if, let's say, people want to do pay balance and that type of thing, would PayPal be holding things as well? Yeah, yeah, absolutely. So we pick stripe, honestly, just because I know Quickbooks, it's an easier interface with Quickbooks. Gotcha. And I know also that we can do a lot more complexity in there, and we're going to want to later. Like, we can have, we know all our different, I know stripe has a lot more flexibility. I won't say that. Let me back up. Okay. I know stripe better than I know PayPal. Yeah. I can't say that one is better than the other. Yeah, that's all that. Both of them have major frustrations around letting your money go. But they're equal. Like, if you back up and look at them, there's just not the pros of one or the pros of the other, but they both hold your money. They both. It's like talking to a brick wall. If you need help, nobody answers. You're just stuck. So neither one of those are any better. And then the other option you did mention was Quickbooks. So once we are up and running and we have a little history in our checking account, we will set up with QuickBooks. Because Quickbooks, you can invoice right out of Quickbooks, and they can click on it and pay it right there and get the money back. And when you doing the kind of work we're doing, which is marketing, basically, agents, marketing agency work, you do tend to invoice large amounts, and it's easier. You can also set up automatic sales receipts where it just automatically charges the client's card every month, kind of the same as stripe. So we'll probably do that. We just need to have the history. Just don't try and set up quickbooks right away if you're just starting with a new checking account, because they'll just basically say, we can't do this. Come back in six weeks. We're avoiding the headache. Essentially. They avoid the headache, but the cool thing is they avoid the headache. But then once you do get accepted by them, you get your money a little faster, right? Yeah. It's still not instant, but it's a little faster. The other big question is fees. So we got our first payment, and you saw the fee that came out of it. Yeah, it's like. And it's a lot of money. Yeah. But essentially, I will tell you that you can shop around from spot to spot. When you're just starting off, it's going to always be somewhere between 2.9 and 3.5%. It's just what it is. Again, there's no avoiding it. There's no avoiding it. It's the convenience fee for not having to collect cash and put it under your mattress and count it in order to use it. The other cool thing is, though, PayPal, I know now, I think, accepts bitcoin. Oh, really? So people can pay with bitcoin? There's a good on ramp for PayPal, or at least they've made an agreement to, I don't know if they're doing it yet. That's awesome. I wonder if stripe will have that in the road map down the line as well. I'm sure they will. Yeah, I'm sure they will as things move along. Okay, so we've covered the first week and the second week. First week, we set up the checking account. We went ahead and put 30% aside for savings. This week, your homework you did was you got stripe set up. We collected our first payment. I got quickbooks set up. We got it all linked together. We know we're not going to get our cash for a little while from the first client in the partnership. Your homework for next week. Our homework for next week, actually, is we need to settle on a partnership agreement. So a lot of people have partnerships, and you go in very optimistically, and we will. But basically what we're writing is our prenup. It's like, okay, if we break up, here's what's going to happen, but not just break up for bad reasons. Like, if something happened to me, what would happen to my half of the business? If something happened to Francis, what would happen to his half? How do we want to split it? Is it 50 50? So this week, Francis and I are going to go off and talk about that and negotiate, and we will come back next week with a summary on how far we get with that and what. Well, not with a summary. We will have it executed by that. Yeah. And I'll talk a little bit then about how. How do you keep track of that then? Right. If it's a partnership, how do you keep track of who gets what when and who pays what when? And that's a little bit of a quirk for a partnership, but still something I think we want to cover because there's a lot of that happening out. There, and it's really. It's more complex than what you assume. Like, when we were talking about partnership before, I was like, okay, we're partners. You know what I mean? We sign it up and talk about the ideas and different things along those lines. But when we actually put it in paper and writing and we're reading through all this stuff, it's so much more complex. It's a business. And I will make a real important distinction here. This isn't a partnership. Like, people are using that term now for what I call affiliate relationships. People are calling affiliate relationships jvs and partnerships. They're not jvs and partnerships. They're commission agreements. And we may or may not have them with people. I do some I don't do others. But, you know, if that would be like, I made a sale and Francis does the work and gives me a percentage of what he makes every month or whatever. That's an affiliate agreement. That's not a joint venture. That's not a partnership. So we're doing real hardcore partnership here, and we're going to teach you how to do it. And you're going to watch us through all the bump, spruces and joints, scaling and failing. Yes, scaling and failing. I love that. Maybe that's what we call this segment. I like that. I actually think that's a pretty catchy. Name, scaling and failing. We may have to look at that. But anyway, thank you so much for joining us. I look forward to next week where we'll talk about the sort of ins and outs of how you set up a partnership. Yeah. And you guys have a fantastic week, and we will see you then. Francis, thanks so much. Thanks for having me. Thanks so much for watching the Cash Flow podcast with us. We want to bring more and more of this to you. So please, like share, subscribe, comment so that we can keep bringing more of this content to.