Building a Valuable Business
Building a Valuable Business
In this, The Faces of Business, Scotty Schindler, Founder, System 1357®, shares his thoughts on building a valuable business.
Scotty is a leading Australian business personality with a keen sense of sports, book writing, public speaking, and business coaching. Scotty has also built and exited valuable businesses from the ground up.
This experience prompted him to develop System 1357 to help entrepreneurs build valuable businesses.
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Scotty is a public speaker, trainer, and thought leader. He attributes his success to his quintessentially Australian optimism and openness character traits.
As the CEO of ReNet, a startup that he built from scratch, Scotty and his team managed over $1.125 trillion in real estate in Australia and New Zealand, with the help of 5,000 offices and 15,000 agents.
Scotty’s passion for sports is evident in his accomplishments as a competitive surfer, having competed for Australia at the World Surfing Titles and winning multiple amateur surfing championships. He is also a proud coach for the WQS and Australian junior surfers.
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Damon is excited to talk to Scotty about building a valuable business. He requests the guest to talk about his background.
Scotty wanted to start a business before 2000, but it wasn’t until 2000, when he got the opportunity to own a property and be debt-free, that he could begin. He read programming books in February 2002, and ReNet was his sixth business attempt.
After the first year, the guest wasn’t getting any traction, and he started looking for work but didn’t get any job offers. He persisted and started learning programming in May 2001. He wrote three programs, and the real estate software gained the most traction, which he started pushing more in 2002 and got many clients. He started the company ReNet. He also started a computer networking business but remained unsuccessful.
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Damon asks Scotty to talk about his struggles and challenges while starting his business. The host acknowledges that people often overlook the hard work and difficulties in building a successful business.
Scotty says that grit and determination only come from bad times in business. He had to dig deep and think harder when he didn’t get a job, relying on what he had learned in ten years of working in the insurance business. He bought more books and learned how to program, which eventually led to his success.
Damon asks Scotty about the challenges he faced while building his business and how he turned those challenges into systems that he has written about. Specifically, Damon asks about unexpected challenges that arose during the process.
Scotty says he did not face any unexpected challenges while building his business. However, he did not expect the level of success that he achieved with his software product, which he felt was very easy to sell once he found the right product. He started his company ReNet, two years after leaving the insurance business and spent the next two years building and selling his software product by going door-to-door.
It was in September 2003 that Scotty last went knocking on doors, and by then, he had a team, a database, and an email program. He hired his first two staff members in April 2003. It took him about four years to establish and turn his company into a successful business.
Damon, interested, wants to know if Scotty encountered any surprises while building and operating the company during the planning phase.
Although Scotty didn’t expect success, he focused on people and their personal development first. He helped people increase their businesses. One unique thing was that Scotty was both the programmer and CEO, making him an industry authority. On the whole, nothing surprised him besides the success.
Scotty brings to light his professional journey, from his experiences working at McDonald’s and an American insurance company to his vision of creating an intelligent company that would work even without his presence. Scotty talks about his experience implementing the concepts of business judo and time duplication to create a brilliant company that would function without his presence. He faced challenges such as server outages, legal issues, and nearly losing everyone’s email.
The guest emphasizes the importance of preparing for unexpected challenges and having systems to address them. After the email incident, he embedded redundancies in his systems and had to fly around the countryside to restore data.
Similarly, Scotty underscores the importance of preparing for unexpected challenges and having systems to address them. He teaches the concept of business thirds, where a third of the time things are great, a third of the time things are not great, and the middle third can go either way, depending on how we respond. He draws on his experience in the fire brigade to illustrate the importance of preparing for challenging situations even when we are still determining exactly what they will be.
Scotty believes his job as a firefighter gave him valuable skills that he later applied in his profession. He gained situational awareness, the ability to not panic when things go wrong, and a 360-degree view of problem-solving. These skills helped him approach challenges in his business with a disaster recovery mentality and contributed to his success.
Damon asks Scotty about the motivation behind his decision to write books, teach and speak about the systems he developed.
Scotty’s motivation for writing books and teaching the systems he developed includes legacy, validation, mental stimulation, mentoring and coaching, and speaking engagements. After using them in a Google Talk, he trademarked the terms “Business Judo” and “Time Duplication” and realized their potential for helping people implement street-smart systems in their businesses. He has written a book series, with the first book being “The Five Systems of Successful People” followed by “Business Judo” and “Time Duplication.”
The guest coined the term “Business Judo” based on the concept of mental judo he learned from his mentor in the 90s. He used it to achieve his goals by helping others achieve theirs. Business Judo is about leveraging networks and creating win-win situations. All Scotty had to do “was liberty, live, eat, sleep, breathe that in the company.”
Scotty describes Business Judo as the mental ability to turn negatives into positives or turn disadvantages into advantages, especially during tough times.
Scotty talks about his experience co-authoring a book with a merchant banker on business valuation, which led to his development of “business judo .”He has since written a series of books called “The Street-Smart Entrepreneur,” including the upcoming release “Make More, Do Less,” and plans to finish the series with books on sales, financial independence, and leadership.
He also mentions that he now mentors and coaches people, including presidents of multimillion-dollar companies, on lateral thinking and “out of the box” skills that businesspeople can’t learn through traditional education.
Damon wonders how many people lack knowledge of the steps in their sales process and how some companies lack an organizational chart, making it unclear who an employee’s superiors are.
Scotty agrees with Damon’s comment that many people and companies need a systematic approach to leadership and sales. He adds that while terms like quarterly reviews and KPIs have a place in business, they are not a comprehensive approach to developing, training, motivating, and rewarding people. Scotty believes in a better way of doing things, which he terms “Business Judo.”
Business success requires taking action and making decisions, even if they are not perfect. Scotty believes that waiting for perfection can harm a business and that being open to change and improvement is key to success. He emphasizes the importance of having a systematic approach to developing and motivating employees to grow a successful business.
Scotty talks about the importance of employee personal development programs and how they can improve a company. He shares an example of a friend who invests in high-performance coaching for his son’s surfing but doesn’t invest in employee professional development. Scotty suggests implementing coaching and training systems to develop employees, which can lead to business growth. He proposes investing $50,000 yearly in personal development, which can double the business in the next two years.
Scotty used to do training sessions for real estate offices, but often the bosses would pay him to train their team and then not show up themselves. Scotty found it a bit strange that they didn’t see the value in attending the training themselves and developing their skills. He believes personal development and follow-through are essential for success, and action is key. Business owners and leaders should attend training sessions to see what their team is learning and to continue their development.
Before wrapping up the discussion, Scotty expresses his desire to visit America. Owing to his tight schedule, this visit is unlikely till 2024. However, the guest looks forward to meeting his American friends in person.
The discussion concludes with Damon thanking Scotty for his precious time and golden words.
business, people, judo, systems, work, duplication, books, year, company, started, thinking, pay, clients, fire brigade, successful, writing, read, bit, teach, coaching
Damon Pistulka, Scotty Schindler
Damon Pistulka 00:02
All right, everyone, welcome once again, to the faces of business. I’m your host, Damon Pistulka. And with me today, I have Scott Schindler system. 357 entrepreneur extraordinaire, surfer skier, firefighter system builder, Scott, welcome.
Scotty Schindler 00:22
Hey, great to be here.
Damon Pistulka 00:24
Man, this is gonna be fun. You were just talking about you just got back from Japan, you were skiing in Japan because the powder is so great. There was the skiing good while you’re there. I didn’t even ask that.
Scotty Schindler 00:37
Actually, it was really good. You know. So it was we had days where we had a foot of powder. And every run we were first runs. So that was one day. We did have one bad day, though. So one day the sun came out. It was beautiful. And then the cloud came over it snap frozen. I was like, Whoa, I wasn’t expecting that. And I was like, Well, I have to do the shopping now.
Damon Pistulka 00:56
Yeah, there you go. There you go. Good stuff. Well, Scott, we’re going to talk a little bit today about you know, we’re here today talking about building a valuable business, you’ve obviously done that. But we’re going to share that with listeners.
And then we’re going to talk in into some of the things you’ve done since and helping other people build business and you’re speaking and the other thing, so I always like to start out with your background. So let’s, let’s talk a little bit about when you decided back, I believe it was in 2000 to do a little startup called Rinette. What Where were you at? And what what was the idea that generated this?
Scotty Schindler 01:36
Really good question. So it was before 2000, I wanted to start a business. And it was only in 2000, where I got the chance or the fork in the road where I could, okay, so one property owned the other property and be debt free. So I went well, now I can have a chance to do business, right. So if I don’t make any money, I’ve still got a house and you know, I’m not gonna lose anything. And you know, I didn’t have house payments or anything else. Yeah. So at the fork in the road, but I didn’t start reading it in 2000.
I actually started reading it in February 2002. I went through two years of trial and error, and react was my sixth attempt at starting out. So the irony is in between that in the first year, I didn’t do very well. I was I was doing okay, but it wasn’t really I wasn’t really getting any traction, anything, anything that I liked anyway, I had a certain set of rules that I really wanted to achieve in business the way the waist I thought smart business should run up nowadays we call it I teach it as systems, right?
Yeah, well, just smart, intelligent, wise, I wanted to run a business anyway. After the first year, it wasn’t getting any traction, I started looking for work. So thinking maybe I can’t start a business. And but then I didn’t. Not only did I not get a job. I didn’t ever get a job interview. Yeah. So I persisted, right. I persisted, because I had to persist. No one would give me a job. But I will, if it’s if it’s to be it’s up to me.
So I went and I started learning programming in May 2001. And I went through three programs that I wrote, which one was for accommodation, one was for car yards, or car dealers, and the other one was for real estate. And the other two work, don’t get me wrong, but the one that got the traction, and I could see making money out of straightaway was the Real Estate Software.
Okay, and sure enough, start of 2002, I started pushing it a little bit more. And I started getting lots of clients. And I went, Whoa, this is pretty good. So I started the company read it. So the entire journey took a few years to do that. And yeah, I had one business that I started, which was computer networking, PDP networking.
And the very first client I went and saw, I said, Well, this isn’t for me, because this isn’t a very intelligent business. I’m just going to be a mechanic. I don’t want to be a mechanic. But business has to be smarter has to run on systems that operate. I had turned like time duplication that I really needed to have, right. And I couldn’t see myself doing it that way. I wasn’t thinking programming at the time. I was just thinking work. And I went yeah, now this isn’t for me. One client, I lost it.
Damon Pistulka 03:58
Oh, that’s awesome. So you think you’re so back up a little bit. You said it was your sixth? Rena, it was your sixth attempt. Chris. Oh, yeah. And that’s awesome. That’s awesome that you shared that because a lot of people see others that have, you know, maybe built a big business and exited and those kinds of things they don’t really understand at the beginning, how much grinding in and changing and just turmoil that you go through to get that thing off the ground? Yeah,
Scotty Schindler 04:31
and you know, like, as, I guess I did, I did a mentoring session yesterday with a business guy that is turning over a lot of money. He’s got a really successful business, but he you know, he wants to get to the next level still. And you know, we were talking about success in business and you know, that grit and determination really only comes from the bad times. When things are going good. You keep churning away or when it’s comfortable. You keep on trying to stay in the comfort zone, but when things don’t work out is when you actually dig deep and go, well what do I have to do?
What do I do? He change, you know, that’s when things actually happen for you and you become the person you should become. Now some people get that because they get fired from their job, they go, Oh, I gotta I gotta now find a way to make things happen. But if you can find that integrate and to and determination before it happens even better.
But because I as an example, because I didn’t get a job all I had to find more, I did dig deep, I did think harder. And I had to then rely upon all the things that I’d learned in 10 years of in the insurance business working for an American insurance business. I did dig deep, and now this is the things I want. So what do I need? What do I need to do? So bought some more books, or read some more books by learn how to program and the rest is history.
Damon Pistulka 05:45
So you program that you program your real estate software, and you began and began using that? What what are some of the things that you found, as you’re building your business? That you as you’re going along, you go, boy, I didn’t really plan on this, or I didn’t realize this was going to be that big of a challenge that you turned into systems later that you’ve written about?
Scotty Schindler 06:12
To be honest with you. I didn’t, there was nothing that was unexpected. Okay. That might sound really weird to you. In fact, probably the thing that was unexpected was the success that it actually worked. Yeah, I had to go back and do it all again. I should have started doing what I did 10 years before, you know, I should have your 10 years earlier. I expected some success. But I didn’t expect that much. I didn’t expect it to be book it felt like selling lollies to kids. I didn’t expect it to be that easy once I found the right product. Yeah. But to give you an example, right, so let me give you an example.
So it took two years, from when I left the insurance business to start the company renew it, that took about 100 weeks, believe it or not. What I then did for the next two years was I had to actually just because I just like writing a book well, so what I had a program I what I now had to go and sell it, I had to have people actually want to pay for it, and can continue to pay for it.
So what I spent the next two years doing was starting off building the company, I went out door knocking, asking people to buy the software. And they did but it took until this is the thing it took until September 2003. That was the last time I knocked on a door to ask someone if they wanted to buy the software. From then on in we had enough traction marketing and so on leads, we didn’t have to physically knocking on doors anymore to drive the business.
So the last time I actually went canvassing and trying to find a client was September 2003. And you know, by then I’d written an email program. And just so I can email people and do marketing, and I had a database and I had all these wonderful things, right? So it made life easier. And I had a team too. So in September to September 2003 Was I last time I knocked on a door.
It was April 2003 when I hired two staff. So for the first two years, I was on my own just trying to do. And I managed, but I got the traction, and I could hire some staff, I got more traction, and I hired more staff. And yeah, it went from there. So it took. So if you look at that, it really took about four years. So it took about 100 weeks to find the company then took another bout 100 weeks to actually establish a company and go now this this really is a business now this is a company this is now got some teeth.
Damon Pistulka 08:29
Very good. Very good. So as as you were building it, were there. Were there things in running the company like that, you you Wow, that really surprised me like supporting the software or just in the in the actual operating in the business that you hadn’t contemplated when you built the when you’re thinking about the concept and building the software?
Scotty Schindler 08:55
Well, there was lots of things that I did, I’m going to call it differently to the others. So I was very much so about the people in the business people first people over everything, the leadership, the development of the clients, you know, I figured if I helped enough businesses succeed, that they would stay clients and they stay clients and they want to be clients. So I did a lot of training and personal development.
I did this sort of stuff with the real estate agents. So I came from a background there in a sales industry. I never, that actually helps them with their sales systems. So I went to work and actually tried to increase people’s businesses. And you know, it works. And I didn’t see it as a problem. It was just a part of the process. Yeah, nothing that really surprised me. Like I said, apart from the success.
And what actually ended up happening in the end was it got quite unique that I was the program and the CEO. Yeah, most people were the CEO and they hired programmers. Yeah, I wasn’t a programmer. In the end. I had a team of them. But I’m saying when I went to a prospect like a major company, and they’d go, Well, is this possible? I’d go Absolutely. And I can say it with authority.
You know, I didn’t have to go back to the team and ask. Yeah, you know, I might have had to go back with some project timelines or some final costing, but I knew what was possible what wasn’t possible. So that was actually quite unique in the industry in the end. So one was a successful business, but to actually knew what was going on from the coalface all the way up and down the product line. So yes, and nothing really surprised me at all. Damon, you know, the thing that really did surprise me that was it, it all worked.
Damon Pistulka 10:30
Yeah, sometimes it does.
Scotty Schindler 10:32
Like in 1999, when I had the concepts of business judo and time duplication and wanted to recreate a company that was intelligent, where I could make myself redundant, and these systems would work. And I didn’t know, I had no idea. But I’d learned them from like, when I worked at McDonald’s as a kid, when I worked for the American Insurance Company, I learned sales and leadership and business development.
I learned those things, you know, and so I actually wanted it to work, but I still think it’ll work as good as it did. Yeah. But that was about the only surprise I got was, well, this stuff does work. You know, yes, these systems work if you put your systems in place.
Look, did it mean things didn’t go wrong, no matter what servers go out, and I had, I had a legal issue in the middle of things I had, I can tell you about all the bad times to err expected. Yeah, the unexpected, or the unknown unknowns come from time to time, right. And you have to expect that not every year is gonna be perfect. Not every month is going to be perfect. Not every day is going to be perfect. So when it happens, it’s not unexpected.
You just don’t know which one it’s going to be. But you have to be able to be ready to respond. Okay, this is one of those times that’s going to test me, I have to sort stuff out, I have to get things fixed. And I have to move on. And that happens from time to time, you know, so certainly wasn’t smooth sailing all the way. At one time, nearly losing everyone’s email, you know, because we were managing their email servers to and I mean, that was a stressful time.
Oh, yeah. Not only did we nearly lose it all, they didn’t have their email for 24 hours, they lost everything for 24 hours, you know, people were screaming at me was Friday afternoon, and all the advertising goes on the Saturday paper back then. Yeah. And people are going well, why Friday, I’m gonna look if I could have picked the day, it wouldn’t have been any of them, you know, and I’m going to happen. Let’s just deal with it. Right. So we embedded systems for redundancies. after that.
I was flying around the countryside, I had to see a forensic guy to interrogate the database and actually restore the hard drive and take it back out. Because we had redundancies of backups, that wasn’t an issue, but they were going to take longer than the flying around the countryside to try and get someone to repair the data. Oh, wow, less than we had that much data, the restoration of it wasn’t really going to work. It was backed up. But it wasn’t really anyway, I can teach us team.
Damon Pistulka 12:41
That’s, that’s incredible, though, you know, I think I think overall, what I’m hearing from you, though, that’s really good, is that you are ready for the unexpected. You said it’s gonna happen. Yeah, you’re gonna work through it?
Scotty Schindler 12:54
Well, one of the systems I teach is the business. The third, you know, so a third of the time, things are gonna be awesome. A third of time, things aren’t going to be in the middle is a is a is a middle third, which can go either way, depending on how we respond and react our experiences and knowledge at training. Yeah, that’s the third in the middle. But you’ve got a third at times where things are great. And we want to live in that third. Yeah. But the reality is a third of time, things aren’t going to be great. My fault, not my fault.
Unexpected expected, whatever it’s going to be, you know, it could be weather, it could be economic, it could be well as we know, pandemic, it could be something that’s going to change, and then 10 years of a journey, there’s going to be a third of the years, which are fantastic. And third of the years, which had to work really bloody hard for to try to get through. Yeah. And so in the middle, well, that just depends on what happens and how you respond and how positive mental attitude is, and those sorts of things.
So I teach the business a thirds. In fact, you asked earlier about when we spoke once before about the fire brigade. We live in we live in the bottom third, we live in those 10% of times when things go wrong. That’s what we train for. We usually don’t know what the situation is going to be. So I did eight years in the fire brigade, right? Just at the my local fire brigade. So it’s cool. So what happens is if the pager goes off, I jump in the car and I go, and then we get about 300 of those calls a year.
Okay, so it could be one o’clock in the morning, it could be eight o’clock in the morning, it could be three o’clock in the afternoon, a car and ambulance assist or it could be an actual house fire or structure fire bushfire. So anyway, when you go to those we trained for those incidents when they happen, but we still don’t know what it’s going to be. But we expect them we expect that we are going to get a structure fire, we are gonna get a house fire.
We know that’s going to happen, right? We just don’t know when or how, what time, what’s going to cause it nor do we know what how we’re going to fix it either until it happens. Or we can plan and prepare for it. Because that’s the industry the fire brigade is in there in the industry of when things go wrong, how big and how bad can they go wrong? And how can we prepare ourselves for that if and when it happens?
Scotty Schindler 15:02
Different way of thinking most business no need for that.
Damon Pistulka 15:04
Yeah. But it’s a good way if you’re gonna think think about, you know, readiness for business as well, I believe.
Scotty Schindler 15:11
Yeah, absolutely. I mean, yeah, when you bring that into, so I started doing the fire brigade in 2012. Okay, so then when you look at it, yeah, bringing those disaster recovery type mentality back into the business was a good thing. So it gave me more back than I put into it. And I just wanted to volunteer, right. So I was just volunteering for the local fire brigade.
And I wanted to give back to the community, but it gave me a lot of, you know, situational awareness and not panicking when things go wrong. And just looking at it doing a full 360 degree view and going, Okay, well, what do I need to do? What’s the solution? Let’s just get in and get started. not panicking. So that situational awareness is something that, you know, I got, even though you have it in business, I’ve gotten a lot out of the fiber game.
Damon Pistulka 15:55
Yeah. Yeah, I can see now I that was, that was an interesting time for you and and beneficial for the long run, that it was rewarding, you know, yeah. And helping the community to
Scotty Schindler 16:08
the local community. So that was picked on you. Yeah, exactly.
Damon Pistulka 16:12
Helping your friends and neighbors. Yeah, that’s a great thing. So you’re sitting here, I mean, you sell your business, and everything’s great there. Why? Why did you decide that you want to I mean, you kind of just wrote off in the sunset, surf, skied, had a good time. But you decided to start writing books about your systems you had developed and teaching people and, and speaking on it, what really drove that?
Scotty Schindler 16:41
This couple of drivers, first of all, I’m hyperactive, I’m ADHD, okay, so I have to keep doing things. That is one driver, the the big driver is actually legacy. So you know, like, at the end of the day, I, my boys, I’ve got two boys, they’re now turning 20 This year, and 25 are doing really well. So not a problem at all. And one day, they’re gonna want to start their own business, or they’re gonna want to do things, and they’re gonna say, Hey, what did dad do? Now?
If I’m here, I’ll talk to them. If I’m not here, yeah, well, then they can read some books about it. And the best validation for that is that other people like the books and other people have read the books. So you know, it’s not just legacy. It’s like a loss. I want some validation here. And it’s been working people have been buying the books. In fact, the US is the biggest market that’s been buying the book. So it’s been unreal. So there’s legacy. The other thing is obviously, our retired early, I was only 46. I wanted to keep mental stimulation. I didn’t know what that was going to be though.
So I didn’t plan on necessarily what I’m doing today. But I did plan on staying active in one way or another mentoring coaching. I didn’t know but you know, it’s all I’ve done all my life is 30 trenching and mentoring people in how I built Renu it to be a successful real estate software business, was by teaching my real estate agent clients to be better real estate agents, how to sell more and make more build teams. And by the way, here’s my software.
Yeah, it’ll help you do all that stuff as well. That’s some of the motivation. But you know, what changed it all was in 2018, I got asked to speak for Google. Okay, so I did, I did a Google Talk. And in that talk, I spoke about two things, just that I really believed in.
And I had these before I started the company read it. So I had these in before I left the insurance business. And one was business judo, and one was time duplication. I happened to drop those two terms in that talk. And at the end of the talk, I got asked about those two terms. And I thought to myself, wow, they sort of are really unique. So I trademarked them, I thought, well, I might do something with those terms. I didn’t know what to do that.
But I thought people actually can really relate to it, and like it can understand it, which means they can implement it and use it to succeed. You know, it’s not rocket science. They’re streets, they’re street smart systems, but people can actually use them. And they can think about it every day in their business. You know, I’m a business today, what am I doing today? How am I flipping the narrative around from negative to positive or turning disadvantages into advantages and things like that? With time duplication?
How am I scaling? How am I duplicating the team? How much duplicating the product, how much duplicating my money and creating wealth? Every single day, that has to be your mentality, it’s what successful people do. And it’s those systems in business. So I had a system in business at Rina, which was, what I taught the real estate agents was, if they put two minutes into the software, they will get back 100 minutes for free.
So time duplication wasn’t an accident. It was a very deliberate action of what I put into the software was a very deliberate action of how I built the company up through the team and everything else. What I do now though, is you’re right, I’ve now written books or writing books, I’m writing a book series. And the first one was the five system And there’s two of them their business judo and time duplication.
Damon Pistulka 20:06
And you’re continuing on so which which book are you? So business judo? Where did you come up with the name?
Scotty Schindler 20:15
Good question. So I learned in the 90s I ran sales teams and my boss, mentor, whatever you call them at the time taught me a term called mental judo. Okay? So it’s like mental judo, if I want to achieve what I want to achieve, I had to help other people achieve what they wanted to achieve. But how do you do that? Okay, so you have to use mental judo, you know, so that was without getting into it, because we’ve only got a certain amount of time you. I then thought when I started a business that I was gonna do the same thing, but I’m gonna call it business judo.
Okay, and leverage on their network and create Win Win Win situations. You know, I’m going to I’m going to have a positive mental attitude, and I’ll have that today. The some of the things that business Judo is, you know, it’s that leverage. So, I did it. And that was a Scotty term business judo. So that’s where it came from. So I all I had to do them was liberty, live, eat, sleep, breathe that in the company. Like I said, was there any surprises now? I knew it worked. I said, that worked as well as it did.
Damon Pistulka 21:18
That’s awesome. That’s awesome. So as you’ve as you’ve been teaching people, the soccer about business judo for a minute. Yeah, teaching people to use business judo. What are some of the things the feedback they give you on it after they’ve done it a while. And really, once
Scotty Schindler 21:34
you? Well, this is perfect business Judo right now. We’re leveraging each other. You’re sharing a story to your audience. This is like business judo.
But the essence of business Judo really isn’t the simple things. Even though this is perfect business, judo. Business Judo really comes into its own with positive mental attitude, when things aren’t going well. That’s when it really comes into its own. Yeah, this is great that we’re doing this. And you can do this, you can create a networking event, you can leverage other things that are happening in the industries that you’re in, or events or summer or winter, depending on what season you’re in. You know, you can do all sorts of basic things.
But the essence of business Judo is that mental ability to be able to turn those negatives into a positive or better still turn the negatives and disadvantages into advantages. As a simple example, is well I had a car accident, well, okay, I’ll buy a new car. I won’t just repair the car. I’ll get rid of that car. I’ll get the payout and I’ll buy a better car. Yeah, that’s simple business judo. Yeah, you know, how do I improve the situation out of something that’s gone wrong? There’s been adversity? How do I improve that?
A staff member leaves your business you go, man, that was a really important staff member. Okay, now I have to find someone new. But I’ll find someone better at this and better at that instead. And I’ll make it better than was before. Yeah. Things happen all the time. But it’s how we respond and how we react that makes the difference. That’s the essence of business judo. How do I how do I flick this narrative? Yes. So when people talk to me about it, it’s you know, like, it’s something that you’ll see everywhere is perfect business judo.
But it’s also something you have to practice first, you know, I think everyone understands how to do it, but it has to become a deliberate action every single day, that this is what I’m going to improve. You know, this is business judo. Okay? How do I flip the narrative? As an example? You know, it’s not uncommon for someone to go, well, there’s your problem. There’s a problem over there. Right? Their problems. That’s the problems that okay, well, look, anyone can see the problems.
Damon Pistulka 23:39
Anyone has problems, right? That’s easy to spot.
Scotty Schindler 23:43
And even some of the solutions are easy to spot. Okay, you can just do this, this this, okay. But that’s not perfect business judo. Perfect business, you’re gonna go, Well, this has happened. But I want to now not just fix it, I want to improve it and make it even better than it was before because of what’s happened.
Damon Pistulka 24:02
Yep. It’s funny, you’re saying this because I was just, I was talking with a client. Yesterday, I was talking with a client on Friday about this. They had a, a staff member that was leaving. And we worked through the fact that the staff member was leaving, and there’s not like a one person company, they’ve had 70 or 75 employees. So it was it was hard for me to mentally believe that one person was that much that integral to the business and come to find out it wasn’t.
But we did that by walking through it and really figured out that well, this is what we’re going to do or we’re going to restructure some things and actually with the business is going to be better. And the employee is going to be happy doing what they’re doing now in a new new role someplace else. So it really is how you look at it because as you’ve just mentioned, you can look at that problem and go oh, there’s a problem and then you Gonna try to fix that problem.
But if you go there and say, Listen, we’re not only going to eliminate this problem, but we’re going to make sure that it never happens again, because it’s going to be 10 times better, or we put in a foolproof system. That’s, that’s really the way to do it. But that’s great. That’s great. So as people are using this, what what kind of comments do you get back? Because I mean, it’s gotta be, there’s gotta be some people like, Oh, my goodness, I never really thought about Yeah, in in the tough times.
Scotty Schindler 25:34
Well, that’s right. And you know, in fact, in the book, I’ll give a shameless plug. So the business today’s the second most popular, the most popular is actually been time duplication. And I think, I think it’s because it’s a penny drop moment. You know, the business I made the most money out of was the rule of 100.
And the business a third, the other systems are made the most money out if I’m even sugar and cream. But the time duplication had the most feedback, because I think it’s that penny drop moment. So the one system that every successful person understands the one system is time duplication. They duplicate themselves, they duplicate their products, and they duplicate their money.
As some people can get one of them. A few people can get two of them, I’m talking about in a successful way. But very few get all three of them in a successful way. You think about it, right? So you don’t have to get up and go to work anymore. Because you have enough people doing the work for you. That’s a great system. That’s duplication of yourself, if you’ve made a product once, but you keep getting paid over and over for it again. That’s great, too, isn’t it was duplication of product.
And if you’re making money while you sleep, because of the money you’ve made before, then that’s duplication of your money. So you know, when you talk to most people how much money you’re gonna make this year, because of what you did last year. Most people don’t have an answer for that. They can talk about their expenses, but not how much money they’re going to make, because what it did last year, and what you’re doing today, how much how much residual income and real will income they’re gonna give you next year?
Yes. So you had 2000? I want to say you, I mean, metaphorically, you’ve had 10 years from 2010 to 2020. Okay, how much of that? Are you still making money out of today? So we’re in another decade. Okay. So between 2020 and 2030? How much are you going to put into making more money, whether it’s duplication yourself duplication products, or duplication the money you make? So that way, by the time 2030 company, you don’t have to go to work anymore?
Yeah, all you can. And you keep duplicating, duplicating, duplicating. That’s the one thing every successful person understands. Now, I can’t write music, like, you know, Katy Perry, or someone like that. And they’ve done it on a hugely successful way. They write a song, they keep getting paid over and over and over for beautiful scenes. But you know, the actors caught on to that, too. Once one time, the actors got paid millions of dollars for movies, and they went, Oh, hang on a minute, I’ll take less upfront.
How can a royalty things? Yes, so they caught on to it. So they caught onto it, they caught on to the system, right? They didn’t want to take money, one of the royalties, and you know, their business judo, once again, if we use that now they get paid royalties for products. So they don’t just get sponsored by Nike, they get a brand of Nike to actually sell with their name on it, so they get paid extra.
So you know, everyone, it’s what successful people do. That’s why it’s the five systems of successful people. Now, you don’t have to do it on the scale of millions and millions of dollars to be successful. Everyone’s definition of success is different. So you don’t have to have millions and millions and millions of dollars to be hugely successful. But if you can do what you want, when you want with who you want. Never have to work again, that’s not a bad definition of success, either.
Damon Pistulka 28:55
That’s not bad at all. That’s that’s for sure. So you’ve you’ve released the five systems of successful people. And what are the other books you’ve released so far?
Scotty Schindler 29:09
Well, I did actually do.
Damon Pistulka 29:12
Because we were talking last time, I can’t remember where we were at, where you can actually come up with this one. Oh, yeah. You did that build and build a business you can sell? Yeah. Which
Scotty Schindler 29:21
talks about the systems and money and yeah, how business is valued. You know, and this book, sold a few books. You know, it’s I co authored it with a merchant banker. Anna, she’s now retired. Yeah, so Cole co authored that with her. I can’t remember years ago. So that then gave me business judo. I learned the process of writing. Sweet now on my own. Yeah. And I’m writing I’m writing a series The streetsmart entrepreneur series. So this is the five systems yep, this system system 1357.
This is the five. Very good. So the next book I’m releasing is actually on sales. Okay, it’s called make more, do less. Yep, the best sale systems ever. It’s actually you know what successful people say do and when that’s the next book, it’s actually ready for release. Now it’s in pre release, it’s up there, it’s all ready to go. Just waiting for some final feedback. And hopefully that releases. Look, I’m going away again, on another surf trip in three weeks time, I’m going away surfing. So it only to be done before after that.
But anyway, it’s coming. It’s imminent, it’s good. So that’s the next book, the book after that is actually going to be the one of 1357. And that’s the strive for healthy, wealthy and wise, and that book will be about that book will actually be about creating financial independence, it’ll be about balancing life, it’ll be doing all those sorts of things. So that’ll be very much.
So streetsmart entrepreneurs stuff, for sure. And then I’m going to write it like I said, I’ll finish the series. So the threes on the can analysis, the sevens on time, I said the leadership. So there’s a whole series coming out street smart entrepreneurs stuff, man, I now mentor and coach think people like professors, presidents of multimillion dollar companies, and I’m now mentoring and coaching those people.
And I’m a deep class student. But you know, the difference is you can have a, you can have a skill set, you can be really technically skilled, like a doctor or an accountant or a solicitor, and they are so good at what they do. But it’s the out of the box stuff, they need help. Yeah, you can’t go to a university or a TAFE course to get out of the box stuff. You know, think laterally? And this is all lateral thinking stuff?
Damon Pistulka 31:30
Yeah. Yeah, it is. They mean, people can be highly talented at one thing, and really, really benefit from helping other other areas. And that’s, I tell you that one of the things that that you see a lot is you’ll have a doctor, like you said, or, or a lawyer or something, they’re very successful in that part of what they do. But when it comes to business, they flop. They just, it’s really hard for them to run a business.
Scotty Schindler 31:57
It is hard to run a business. And that’s okay too, right? Yeah. Look, I’m not a lawyer, either. I can read the documents, but I still pay someone else to enrich reverse. They know how to read the documents, they say, Hey, Scott a bit, how do I create a successful successful business now?
How do I have successfully lead my team and duplicate my team? I know the concept exists? Look, it’s not like we’ve never heard the team leadership before. We’ve all heard, but how? How do I actually do that. So I teach people really simple systems, they can follow, like a personal development pie, I teach them that stuff, okay, let’s put a pie in place. So that way, in 2024, you’re gonna have a better year than you had in 2023.
You know, it’s not the systems I teach. It’s something you’ve put in place today. But it’s not a magic wand. It’s something to put in systematically in your business. So you can have a better year next year than you had last year. And that’s what systems are for. And they take a while to implement and perfect, and they also can be alive and fluid. They can be customizable. But the point is, you put them in place, and then your work your systems.
Damon Pistulka 33:04
I think that’s a that’s a great, great point, because you see so many people that are out there, supposedly coaching people that go, oh, just do this, oh, just do that. And, and realistically, though, what you’re saying there is, is the truth, you’re gonna have to you’re gonna have to put systems in place, you’re gonna have to modify, you’re gonna have to be patient for the results, sometimes way more than you want to be. But that that patience and persistence, and that continual moving, moving forward with them is where you really are going to get the long term success.
Scotty Schindler 33:41
I mean, people pay me for the, the forest and the trees moment. Okay, so what’s business judo? I can talk about it, you can read about it for $27.50, right? cheap, easy peasy. I got free videos online, if you want to go watch them, too, right? It’s easy to get the knowledge. But it’s a bit like, let me give you an example. So where I’ve now come into play with a lot of businesses, and a lot of successful people, is it’s a bit like a recipe book.
So I can pick out a recipe book and it says, you know, a pinch of salt here and 500 grams of that and on the in the oven at 100 degrees for 15 minutes, and it didn’t tell me exactly what to do. But if I had a master chef standing beside me instead, and said, Okay, we put a pinch of salt in so it does this, this and this, we put it in the oven at 180 degrees for 15 minutes, because what happens is it does this, this and this and it’ll work and I can then ask questions.
So the knowledge is there. It’s easy to read and a menu. It’s easy to read somewhere in a book, not a problem. But then most people go go I really liked the system, but how can I put that in my business? And that’s what people pay me the big money for is they Okay, let’s bring it all together bit like having a master chef standing beside you, or just a recipe. So the knowledge is everywhere, and everyone’s got it. And what I tend to do is after 30 years of coaching and training is it helped people extract that out of themselves.
Damon Pistulka 34:57
That’s helped them execute, help them execute The things they need to do.
Scotty Schindler 35:01
Well, in fact, I asked most people now well, what’s the what’s? So you got a company of 70? Staff? As an example, you just mentioned someone the other day. And yeah, so what’s the leadership system that you follow in the business? Well, most people not only can’t say what it is, they can’t write it down. They can’t describe it in any way, shape, or form. Most people’s leadership system is they turn up and just respond to what’s going wrong at the time. Yeah, it’s a squeaky wheel, let’s manage it.
Most, what’s the sales system? What’s the sales system you have in your business? What’s the process? What’s the if this happens? What else do that? What is that process when a lead comes in? When when a query comes in, when you’re talking to someone on the phone? What’s the systematic way you approach your sales, most people go, Well, we get emails, we bring them up, I get emails, I respond, with some really assistance, just being responsive.
And it’s perfectly normal to do in business. It’s what everyone, but what happens is you get a business to the point of 70 staff or seven staff or 700 staff, it starts to become a necessity to have the systems in place that are broken follow. That’s the necessity. And they don’t have to be strict. You don’t have to have it like McDonald’s, where it’s on the hot plate for three minutes, the buzzer goes off, turn over get out of the hot bun after 30. It doesn’t have to be that strict, right?
Yeah. It doesn’t have to it can be fluid, it can be live, it can be flexible, but it’s still a systematic way of doing it that everyone understands. Whether it’s the leadership, the sales, or the business development, you can still implement these systems in principle that everyone can follow. So it can be alive, it can be flowing, it can live, eat, sleep, breathe, you can change it, modify it. But the thing is, what I find in most people’s businesses daemon is they can’t say what their systems are. So what’s your system for leadership? That’s not Yes.
Damon Pistulka 36:52
Yeah. And how system like you said system for sales, can most people can’t tell you that this steps in their sales process, how they, you know, go through, you know, any any, and they said, leadership. There’s a lot of companies that are fairly sizable that don’t have an organizational chart. So people would even know if I was working in the company who, who should be my boss’s boss, if that’s the way it is, or, or like you said, what, what does success mean for me? How do I know if I’m doing a good job? There’s just so many things that and it’s normal. It’s totally normal.
Scotty Schindler 37:30
It’s actually totally normal. I mean, I, yeah. I didn’t know that. I tell people just google this stuff. It’s got to be everywhere. And now I go, actually, in the last four years, I’ve gone No, actually, it’s not as streetsmart out there in the world as I thought it was.
So leadership is a buzzword, not necessarily a systematic thing you can do. Yeah. Because people don’t have a systematic approach to the way they develop their people, the way they train the people, the way they motivate their people, the way they reward their people. And those sorts of systems. And what you need in place, are we have quarterly reviews, let’s actually the worst thing in the world, you can do we have KPIs, well, it gives a shit. They really not things that motivate and grow the business.
They can be accountable, they can be used, but that’s not a systematic approach of having quarterly reviews. But that’s as much as some people get to. Yeah, yeah. Um, so I cannot stain the term quarterly reviews, or KPIs, even though they have a place in business, I totally understand it. I’m not saying throw that in the bin. Because if you don’t, if you throw it in the bin and don’t have a better way of doing it, in other words, business judo, what if you don’t have a better way of doing it? Keep doing what you’re doing. But if you want to improve, there’s better ways of doing it.
Damon Pistulka 38:42
Yeah, I think, you know, like, it’s, like you said, a KPI might be a better step than yesterday. But it’s not your end result, where you want to be tomorrow and a lot and a lot of these things. Right. You know, it’s it’s, if you don’t have something, take the first step.
Yeah, and then move on. Because it’s we the need, I think a lot of people get hung up on the need for perfection. And they think about well, that’s not quite right, that’s not quite right. And they won’t start at all. And do you think that you coming at it from a different approach allowed you to move farther faster with some of these systems? Because it’s like, hey, yeah.
Scotty Schindler 39:28
So here’s the good thing. Diamond is, is I love this is why it’s called the street smart entrepreneur series. Yes, yes. Is because everything for me was an improvement or better. I mean, everything was right. But for some companies, they think, Well, if I implement change, it might get worse.
Or it might not be as good and it’s not perfect. And let’s analyze it. Let’s spend some time and then we’ll maybe look at in 2024 Or maybe 2025. And you’re thinking like, really that we need something now, so why not? Why not be alive and fluid with it and get the team anyway, there’s a whole long story here, but you’re right. So I wasn’t afraid to do things. So I was not afraid to make change or afraid to let my team do it. Yeah, I’m the worst decision of all is none.
Damon Pistulka 40:07
Yes. Was making a decision. Yeah, delaying because you’re, it’s not a perfect solution. I mean, that’s, that’s the thing, and I think kills more businesses than anything is they get to a certain point, they’ve they’ve achieved some success or doing things. And then the rate of well look at any big business, the rate of acceleration of innovation and all the other things that he needed to do got them just guy was off. And then they, they just complexity
Scotty Schindler 40:32
of opinions, complexity of problems, complexity of all that stuff, you know, really exponentially accelerates. I mean, I get it. And it’s not as easy. I get it. There’s more moving parts. There’s more people need to be involved. And so I totally understand. But yeah, I mean, waiting for perfect is not that good, either. I mean, why does a company with three, four or 500 staff that send even millions of dollars, all of a sudden get broke? Yeah. You know, how does that happen? You get what has happened?
So it’s, you know, it’s either because the people aren’t performing, or there’s no sales in the business. So which one is it? Yeah. But they’re gonna go, they weren’t going broke. They were growing. They were successful. So what changed? Or what didn’t change? What didn’t respond? You know, it’s because it’s easy to sit here and
Damon Pistulka 41:21
say that? Oh, yeah. armchair quarterbacking. ZZ.
Look at that. Look at that, you know, I
Damon Pistulka 41:26
could have won that war they fought 50 years ago. Yeah.
Scotty Schindler 41:30
Yeah. So you know, at the end of the day, it’s, it’s, it’s about doing the right things. And that’s part of the systematic approach is that it’s in principle, the system that you’re doing, you know, so is this smart? Is this intelligent? Is this doing all the right things? And if so, will then do it? You know, there’s nothing to lose by doing it. So for follow some of the rules you’ve got in your business, well, then then do it. You know, if it doesn’t, and it’s not smart, or intelligent, well, then you have to think better ways of doing things. And if it’s, if it’s broke, you have to fix it. There’s no doubt about
Damon Pistulka 42:03
And that’s that where your business Judo come comes in full swing, because you’re going to fix it, but we’re not taking care of the problem today, we’re making it better. So that it’s, it’s actually a strength for us in the future.
Scotty Schindler 42:15
Yeah, I mean, how do I have a better 2024? than I’m having in 2023? What do I need to do today? That’s going to improve my year, next year? What am I going to learn? And what am I going to develop? What am I going to replace? What am I going to?
What are those things? You know, most people have KPIs and what will increase the business by 10%? Or something else? And they look at numbers and that’s okay. But you know, what are the some of those things we need to do? So number one in system 1357 years, people people first. So what’s the personal development program? The system in the business to make sure, Damon is my employer?
Is it better employee? Sorry, Damon, is my employer, is it better employee next year than he was last year? What’s his personal development growth program that I can put in place? You know, or is it just there to do a job? If it’s just there to do a job? Well, then they turn over, you have to accept the turnover? Yeah, if you need to develop people and and developing people develops a company. Yes. Okay. Yeah. Then you’ll have a much better company. Yes. But to do that, you have to do certain things you have to actually implement. I mean, if you’ve got 70, give me give me a real life example.
I’ve got a friend of mine. And I don’t preach them. I’m talking to you about business. But once I take off my hat, and I’m just Scotty in the street, friends about it. But anyway, I was talking to a friend, right? He’s got like, he’s got like 4050 Staffy turns over a fair bit of money doing really well in business. And his son’s really good at surfing. So he’s really good at sport. In fact, he’s a little nuggety like a little gymnastics kid, right?
So he’s probably going to other things. And they’re driving around the countryside. They’re gonna wait all these competitions, they’re getting all this coaching done for him. High performance stuff, and I’m going this is really good. So I said, well, so you must do the same sorts of things in your business, right? You must have lots of good coaching and training systems in your business, too. He has r&r.
Now, we don’t do that. I’m going I didn’t ask questions, right. But he he His attitude was straight away. Now. I’m not investing in. I’m not investing in something isn’t making me millions of dollars a year? Yeah. Because what if they leave? Well, you know, what if the what if I train the staff and when they leave with all that skill set, you know, and I’m thinking like, so here he is he understands training and development, professional development for his son in sport spending?
I don’t know how many 1000s of dollars Oh, yeah. Well just put the same budget into the 3040 50. Staff you’ve got get a personal coach in once a month to do a sales session or personal development session or motivational session or something, you know, spend $50,000 a year on someone to come in and do some personal development. Your business will probably doubled in the next two years. Yes. How much easier is business then? Yeah. But not instead of spinning instead of spending a couple of dollars like he spends on his son
Damon Pistulka 45:01
Yeah, yeah, it’s, it’s it is people first man. That’s what it’s gotta be. You gotta be developing the people otherwise, and, and to I think what a lot of business owners themselves forget, that means them too.
Scotty Schindler 45:16
So I’m gonna hit you on the head with that one. I used to get called into training at real estate offices, the boss would come in and say, I want you to come into a day and he’d pay me lots of money to come and do a day’s training session. And they wouldn’t turn up. Yeah, it wasn’t for them. It was for their team. I’m going like, look, I’m really cool that I’m developing a team, I get paid the same whether you’re there or not, you’re paying bill. We call this we call this happy days. Right? Right. My head, I’m thinking, Well, why did that person not come to the training session? Why would you not come a to see what they’re being taught?
And be learn it yourself? Or get reminded yourself? How important some of these simple things are? What’s that pinch of salt in cooking, that’s going to make all the difference? You know, so and you’re right, a lot of the business owners and leaders think, Oh, this isn’t for me, this is for them. You know, so they don’t have their own personal development program, let alone for the really value in on the team. So this is why the training files and a lot of organizations, they put it in there, but it’s not really for me.
So there’s no follow through. There’s no development of it. There’s no, you don’t coaching course. So what what’s the follow through with that, that’s what makes people successful. It’s not what they do on the day, it’s what they do after the day that makes a difference. It’s an action, action action. And if leaders don’t come to it, well, the business owners don’t come to it to see what they’re learning and what they’re doing different if they’ve already been done once before.
Now they’re implementing it in that there might be different. But even so, it amazed me, if not confused me why the business owners themselves didn’t bother coming. Me they knew they knew like and trusted me, but I’m still thinking they should be here. This thing is I’m teaching them that ended up pay me twice for instead of getting me back every six months, what they could continue on with the same coaching and training.
Damon Pistulka 47:06
Yeah, yeah, that’s for sure. That’s for sure.
Scotty Schindler 47:09
It’s fine. Like I said, it, it’s a hamster wheel. Sometimes it is off we go. And it is
Damon Pistulka 47:15
but you know, I’m really I really appreciate you stopping by today, Scott, because it’s been awesome talking to you. And you’re the stuff you’re doing helping people and coaching them with your your system 1357 and teaching them about business zero and time duplication. And the other things you’re doing is is incredible. I mean, your street smart approach to it, is stuff that we can understand. And, you know, in business people should just be taken advantage of.
Scotty Schindler 47:47
Seriously, like for $27.50? Yeah, it’s an N, there’s 1000 books out there, I get it, if not millions of books. So which one do I read next? And what do I do? And it’s really confusing in that sense. But, you know, when when I, what I put in the books, just to talk about it is all from experience. And you know, it’s genuine, I can prove and stand behind all of it. So it’s not, it’s not what I think you should do. It’s what I did and how you did? Yeah, and yeah, did it. How are ya? That’s good. Yeah, you can get like I well, I can do that. What do I need to do in my business? So
Damon Pistulka 48:24
very good. Very good. Well, Scott, where can people get a hold of you if they want to? What’s the best way to get ahold of you? First of all,
Scotty Schindler 48:32
well, you know, I’ve got my own website, which is Scottish lynda.com. You can follow me on LinkedIn, I post some stuff on LinkedIn from time to time have a bit of fun with that. And that’s about it. You know, I don’t really get into social media a lot because it takes me time. And I don’t, I’d much rather go surfing to be honest with you. Daymond. The same time, I like to stay mentally stimulated. Yeah, as I said early on bit hyperactive city holding on to things as we talk, I’m ADHD. So I, you know, I do put a little bit of time in social media, but only one that’s LinkedIn.
Damon Pistulka 49:07
Yeah, yeah. And your five systems of successful people that you can find that on your on the website, where else can you get it on Amazon or
Scotty Schindler 49:18
on Amazon at the moment. So I deliberately put on Amazon, I’m about to change that. But at the moment, it’s on Amazon, or if you go to my website system, 135 seven.com
Damon Pistulka 49:28
and 135 seven.com. If you
Scotty Schindler 49:30
gotta read, you’ll actually see two books in there. So if you need to order it off Amazon or direct, and I’ll sign it to anywhere in the world. So
Damon Pistulka 49:39
awesome. Awesome. Well, Scott, thanks so much for being here today. I appreciate your your real world experience is so incredible to be able to share with people and I just thanks so much for being here. Well,
Scotty Schindler 49:52
I can’t wait to come to America and do a tour so I can’t do it this year, but maybe next year I end up doing a tour unless you know There is a couple of small windows if someone says come over I might but at this stage, it’s probably more of a 2024 plan. I can’t wait to come and do a tour and meet all you guys and in real fur over there. You know I can’t wait to they’ll be
Damon Pistulka 50:11
awesome. It’ll be awesome. Well, everyone, thanks for being here today. I appreciate you stopping by we had some great questions coming in here. You got them answered. Good. We had Kelly Robinson Diane buyer we can we can dinner. Yeah, Kelly’s here. And Abdur Rami. Romany? Sorry man, I butchered your name but your front autumn Rocco. Thanks so much for your questions, but we’ll be back again later this week with another guest. Thanks for hanging out for a minute Scott will talk and wrap.
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