Risk Reversal – A Key Component to a Compelling Offer

0:00 The topics and opinions expressed in the following show are solely those of the hosts and their guests and not those of W FOURCY Radio. It's employees are affiliates. We make no recommendations or endorsements for radio show programs, services, or products mentioned on air or on our web. No liability explicitor implies shall be extended to W FOURCY Radio or its employees are affiliates. Any questions or comments should be directed to those show hosts. Thank you for choosing W FOURCY Radio. Welcome to Powerful Business Strategies, where you will find out that everything you have ever learned about growing your business is wrong. Finally, a show where you'll learn the right way to grow your business by learning business and financial strategies that your competition isn't doing. And now here is your host. Resident of Next Step CFO Michael Barbarita and joining Michael for today's show as an executive moderator is chooky obia.

1:00 Well, here's my best the tet and imitation. Yes, we believe that gratitude is undefeated and growth is about the next step. Today, my moderator and co author Chuki Obio is traveling and I feel like a car with only three wheels, but I will do the best I can. Ladies and gentlemen, my name is Michael Baburrita from Next Step CFO and Next Step CFO is a fractional CFO and strategic implementation firm, and our vision is to ensure overwhelmed business owners achieve the time, freedom and consistent profits to build a legacy and the life they desire. Our mission is dedicated to guiding small business owners to leveraging their time, exploding their profits, and build a meaningful legacy.

1:44 This show, Powerful Business Strategies in our book of the same name, is a step toward accomplishing that vision and mission. And as a disclaimer, Chucky and I are both affiliated with a number of different organizations. Chucky currently serves as the managing director of business development for Better Price, a global business focused law firm. In addition to that, Cheecky and I collaborate to moderate business roundtables around the country and around the world and document those insights as part of our book, Powerful Business Strategies. But please note that the views expressed on this show are personal views based on our successful experiences. Soday, I'm going to talk about risk reversal and how this impact strategy can help business owners generate additional profits and revenue for their companies. A risk reversal is exactly as it sounds. Instead of the client or customer taking on the risk after they purchase a product or service, the business owner is going to reverse that and the business is going to take on all the risk and that puts the customer or client in a position where they have nothing to lose. Now, a risk reversal is one of the five components that makes up compelling offer. And we've done previous shows on what those five components are, but I'm going to repeat them here. One or more of these five components should be utilized in all of your offers. That's scarcity and urgency,

3:16 risk reversal, which we'll talk about more detail today, adding more value to your product or service, bundling and packaging, and being indifferent to the outcome. And once again, a business owner should always look to use one or more of these components in their offer. But today we're going to talk about risk reversal and more detail and the incredible value it brings to a business. And the first thing people think about when they hear the word risk reversal is they have to assume thek the risk and there's going to be some type of loss. So the question is are you operating from a position of integrity?

3:56 Meaning the product you sell will you stand behind it? The service that you offer, will you stand behind it? So the first thing is if you can't stand behind your product the service, stop offering it. Why are you offering a product to service so that you can't stand behind So that that's an inherent beginning. So now that we know that the business owner will stand behind their product or service, you take that to a whole other level and you sit down and figure out what are the reasons why people would object to buying your product or service? What are the objections and so what the risk reversal is is removing those objections. So typically it is financial, there's no question about that. But people don't want to get bamboozled, they don't want to get burned, right, So you're removing that risk by saying, hey, we guarantee our product, we guarantee our service so much that we're one hundred percent certain about the outcome that that we're going to deliver. And if that doesn't happen. Here's your safety net. That's what a risk reversal is. So here's a question I just got from the audience. My god, so quickly, what would you recommend our first actions be so we can really manage our time properly and get ourselves going on implementing the risk reversal. Well, that's a great question. I am going to address that. I mean, the first thing, or the first key to risk reversal

5:27 is understanding what is the perceived risk that the customer has. And I'm going to give you an example. So one of the problems the customer had in the ski industry when I was in the ski business, and what their perceived risk was as well, is they never really knew with one hundred percent certainty if the ski they were being sold by some hot shot ski salesperson was really the right ski for them. So what we did is we implemented what we called a ski guarantee, where you we let the customer ski the ski three times. If it wasn't right for them, they could take it back and would refit them for a brand new pair, and they could keep bringing it back until we got it right. So, just so you understand, when a pair of skis has amounted with ski bindings, and not to mention, when the ski gets skied on, it depreciates substantially. So my employees and managers thought I was nuts, especially my customer service manager, because he thought he was going to have to deal with a lot of the outcome of this, and this is all part of doing what your competition is doing.

6:45 The reason why I felt my employees and managers were wrong is because I knew there were no competitors that would do it, and like I said, it's all a part of doing what your competition isn't doing. We sold eight thousand pair of skis the first year we implemented that guarantee. That was a twenty five percent increase from the previous year, and only eight came back. The next year, we sold eleven thousand pair and only fourteen came back, proving once again that when people buy, they just want to buy with confidence and know that whatever they're purchasing is going to do what they are told it is going to do. And by the way, by doing this risk reversal, I solved the problem that the customer had, which was guaranteeing the skis performance and a good time on the slope. So it also served as a position of market dominance for my company. And that's all the customer wanted. And they wanted to buy a product where they could ensure themselves that they would have a good time, high performance, and a good time on the slopes. That's it.

7:57 So the first action you need to take is understanding what the client's perceived risk is. Now, once again, the perception my customer had in the ski business is, how do I really know if this ski is going to perform the way I expect and the way that I am told it will perform. Now, my managers, as I said, especially my customer service guy, was on my knees begging me not to do this risk reversal because he just imagined his entire day dealing with angry people bringing back their skis and getting a new pair free. And this is the perception that business owners have about risk reversal, and really it's completely false. And here's the thing. We've studied this and thousands of different industries and thousands of different transactions, and only a small percentage of people will take you up on your bold offer. So what I do with clients who have these guarantees is I usually factor in any type of cost of the risk reversal into the product costs in the form of what we call a reserve that's on the balance sheet, is a liability, and when and if there are any actual expenses incurred due to the warranty, those costs go against the reserve.

9:16 So we're able to take a monthly amount every month and accrue it on your P and L with the offset being a liability called warranty. So you can actually factor the risk reversal into your costs. And the reason why we say that is a risk reversal is a no cost strategy. I'm sorry. The reason why we do say that a risk reversal is a no cost strategy is because your conversion rates end up being so much higher and you actually won, and you won big time, and it's more than covers much more than any of the costs associated with the program. And it's dynamic that a lot of business owners unfortunately don't take into account.

10:01 By the way, did anybody do the math on how many people took me up on my risk reversal? It was eight out of eight thousand and fourteen out of eleven thousand, that's one tenth of one percent in the first year and twelve tenths of one percent the second year, and our sales were up twenty five percent the first year and thirty eight percent the second year. Had noticed the risk reversal strategy once it gets embedded into the fabric of the customer build momentum and generated even more sales as time went on and as it was promoted more. The thing is this, there's a lot of business owners who really don't understand the strategy. They think if they offer a guarantee of their product the service, they're going to lose money and that people are going to try to steal from them, and so they pushed back on the risk reversal strategy versus not realizing that they could actually calculate exactly what that risk would look like and if they need help with that, that's that's one thing that I do for my clients. But first of all, what I'll do is I'll talk some about some of the objections that business owners have to creating a risk reversal strategy, and then I'll talk about why they should do it anyway. Number One, business owners think it's going to increase their cost by offering a guarantee or a warranty on their product or service. I mean they feel it can increase the cost of doing business because the

11:32 business has to cover the cost for honoring that guarantee of warranty, and so if they can it's going to increase costs. That's reducing profits. So they get concerned about that. You know, hey, I'm going to sell it. I'm going to sell enough to Am I going to be able to sell enough to cover these costs that are honoring? Is the question that the business owner has. And then the other thing they have to worry about, or that they actually worry about, not that they really have to worry about it, is that is there going to be some type of administrative burden. And if you recall, it was the administrative burden that was the concern of my customer service guy at the ski shop. You know, if they don't honor this guarantee, customers are going to complain and it would leave lead to negative reviews and things like that. Well, first of all, you know, you're coming from a position of integrity, so you're going to honor the guarantee, so it should not lead to negative reviews.

12:28 As a matter of fact, in the case of the ski Shop, it led to positive reviews because people thought it was just a tremendous warranty that no one else was offering. But all those reasons that I give not to do it, those are all the reasons why the business should have a risk reversal strategy, because understand that the risk reversal is what the risk reversal is actually accomplishing. The client has an objection in their mind, they're feeling uncertain about this purchase. So whenever a business can give a consumer a level of certainty and safety, more people are going to raise their hand and say yes. So that's going to increase your sales because your conversions are going to increase more than negating any additional cost of burden.

13:15 Now here's the key. I'm going to ask the question once again and expand on it a little bit. The question you have to ask yourself again as a business owner is do you really stand behind your product or service? Are you one hundred percent certain that if someone was going to purchase a product or service that they're going to be better off than they were before they met you. If the answer is no, we already said this, stop selling it. But when the answer is yes, that's why you should offer that level of guarantee at the beginning. Here's the point. If a customer tries comes to you with a complaint, aren't you going to make it right?

13:56 Aren't you going to do everything you need to do to make the customer happy? So what I'm saying is why not offer that up front and take the customer risk away, increasing sales and conversions, making your offer more compelling. You're going to do it any way. If a customer complains, You're going to honor whatever it is that the customer is complaining about. Think about that, might as well put it in your offer. You're coming from a place of integrity already, You're already going to make the customer happy. Why not put it in your offer and make the offer more compelling to generate more business. And by the way, here's the beauty of it all. As I have said in the past, the beautiful, beautiful thing about most business strategies, no matter what it is, and risk reversal is no exception, is you can test them. You can test a risk reversal with just a few customers. You're not married to it.

15:04 That's what I did before I implemented the ski guarantee. I tested it and it passed. You know what I did is I actually tested it at the end of the ski season of the previous year, where I implemented it without advertising it, and I found that no one was bringing it back. No one was bringing back the equipment because first of all, we had good salespeople that sold them the right equipment the first time. And you know, the customer enjoyed the experience. It's all it takes, that's all they wanted. Ultimately, what the risk reversal does is that increases sales, it increases conversions, and it increases profit.

15:47 It actually reduces complaints. It gives more flexibility because you're going to bring on more clients, generate more revenue. And it actually is not an administrative burden whatsoever because it's very simple. Whatever your guarantee is it here's another thing, whatever your guarantee is, it could be in a fixed time frame if that's what you want, and it can have rules that are laid out clearly that the customer must follow. So if a business owner is confident about its product or service and it's willing to back it no matter what I always recommend a business owner do a risk reversal because ultimately, at the end of the day, it's a no cost strategy and it eliminates the risk from your customers. So here's another example. So let's take a realtor or a real estate agent. What would what would be a good example for a real estate agent to implement a risk reversal strategy inside their business. What do you think those concerns are. So one of the big concerns that a person has when buying a house is they don't have the money to make the repair it is that will increase the value of the house and make the house look more presentable. So a risk reversal, and I've seen this, I've seen this done already. A risk reversal for a realtor could be will front you the money for the repairs and you'll pay us back at the closing. And in that scenario, the homeowner borrows

17:21 the money from the realtor essentially to make the renovations that will increase the value of the house make it look more presentable, and then the realator makes the sale and fronts the money. For a short period of time, it gets a larger commission, by the way, because the house value increased. And by the way, this is also a position of market dominance for the real real for the realtor. Risk reversals, as I said earlier, can serve as excellent positions of market dominance. So two more things. Number one, it's really important to really note and an a stand as a business owner that a risk reversal strategy is a way to mitigate the customer's fear of buying and it's a good way of building trust with them with the customer or the client or the prospect.

18:11 So a good risk reversal strategy is going to attract customers who may have been hesitant to buy that product of service without that particular guarantee or warrantye. And the second thing is it's pretty simple to set up the risk reversal strategy. And again at the end of the day, it's a no cost strategy. It will require you to sit down and do some innovating. So on that basis, I want to give you five quick steps to creating a really good risk reversal strategy. So step one is you have to understand the risks that are associated with your product of service from the perspective of the of your buyer, so, in other words, identify the buyer's perceived risk.

18:54 So in that step, you want to identify the potential issues that the customer have with the product service and how they can be addressed. If you recall in the ski business, I said the problem the customer had is they really weren't sure with one hundred percent certainty that the ski they were being sold was the right ski for them. So once you've done that, step two is you create that guarantee or warrantye. So just simply develop that guarantee warrantye that's tailored to those specific risks associated with the product that we figured out in step one, and that warranteer guarantee you should be clear and very easy for your customer to understand. Now, in step three, you want to communicate that guarantee or warrantye clearly, and so make sure that it's prominently displayed on your website, on all your packaging or anything that's going to be customer facing, any channels that the customer sees. Make sure you're communicating that warranty and guarantee. The fourth step is we want to make sure you follow through on your guarantee and warranty. So make sure you honor it and make sure that whoever handles your customer service that they're responsive, they're helpful, and it's easy for that particular customer if someone if someone happens to have issues with that product of service. And then finally number five, continuously improve your

20:25 product to service. Use feedback from your customers to identify areas that you can improve. Make those adjustments to your product to service, and that's going to minimize the risk in the beginning and help allow you to make an even stronger risk reversal. So that is a risk reversal. That's why you should have it and how to implement it. So before I talk about another topic we're going to have, we're going to take a ninety second break. Hey, their business owners, let me ask you something. Are you tied of blending in? If your competitors frustrated with slow growth and slim margins? Well, I've got news for you. Everything you've ever learned about growing your business is wrong. But don't worry. I'm here to let you in on a secret weapon. Your position of market dominance. It's what sets you apart, makes you irreplaceable and has customers lining up at your door. My name is Michael barber Rita from Next Step CFO. I know what you're thinking. Sounds great, Michael, but how do I find my position of market dominance? Well, that's exactly why we've created our game changing impleentation program called Next Step to Market Dominance. In just ninety days, we'll guide you step by step to a position of market dominance by uncovering your unique strengths that competitors can't touch.

21:46 By crafting a message that resonates deeply with your ideal customer, by building a strategy that turns you into the go to expert in your field. Now this is in theory. These are battle tested strategies that have helped businesses like yours double, triple, and quadruple their revenue. Don't let another quarter go by struggling to standout. It's time to dominate your market. Period. Go to NEXTSTEPCFO dot net forward slash contact. Fill out the form and in the message section put the word dominate or call us at seven eight one three two six three A two two. That's next Step CFO dot net forward slash Contact or call us at seven eight one three two six three A two two.

22:34 So I want to talk about email marketing. This is another strategy that business owners talk about a lot. Two weeks ago I talked about how to do direct mail campaigns for free and if you miss that show, go to Powerful Business Strategies dot Com to listen to that show, or any PASS shows for that matter. You know, we had PASS shows as well on compelling offers, to which risk reversal is one of them. So weeks ago I also talked about how a lot of format email gurus are going to are going to direct mail. But this week I wanted an opportunity to talk about how to do email marketing the right way. Now, email is really a really popular thing among a lot of business owners, and business owners talk about it all the time. We hear about it all the time, but what does it actually mean and what is the importance of it? So today I want to spend a little time on really discussing and peeling back the layers of email marketing and what it actually accomplishes. So my understanding of email marketing is either segmenting your database and emailing your groups or reaching out to just a pool of potential clients and constructing a message and reaching out to those potential clients, seeing if there's a fit and seeing if they respond.

23:56 But that's just part of email marketing. And the one thing that I like to highlight about email marketing, it's another no cost strategy. It doesn't cost you anything. You don't have to go out and you don't you have to buy an ad or any of that stuff to send out emails. So email marketing allows a small business owner to have direct line of communication with their ideal customer and they can craft a message any way they want. But what makes it so effective though, other than being no cost, is when you understand ultimately what the biggest problems that you're solving for your client. Really, intimately I understand those big those big problems that customers are having.

24:39 It's almost like having a direct conversation with them, and you're in the head of the prospect because you're staying in front of them via email. It's a free channel, and it allows the business to demonstrate that they intimately understand the prospect's problem and they have a solution that can solve it. And notice, once again we're going back to that problem and solution. Remember the conversion formula and the position of market dominance, and all of these were discussed in previous shows. That's where when you're communicating that way, email marketing is just another way to communicate problem solution, educate, offer, Okay, that conversion formula. So whether you take email marketing and go straight into an offer or whether you do an email marketing campaign that is more of an enticement or more of a conversation starter with the potential prospect, it depends on where your particular customer or lead is in their bias journey. Notice that's another term that we've used that we've had shows that we've discussed heavily in previous shows, and we had I think we had a show dedicated strictly to the buyer's journey, So see how all this stuff comes together. Whatever sty you're using your core strategies of the conversion formula, position of market dominance, and the buyer's journey. So depending on where your customers are on

26:12 that journey, your messaging would be different. If it's someone that doesn't know anything about you, you're not going to make them offer because it's sort of like if you met a person for the first time and you ask them to marry you pretty creepy, so you have to kind of warm up that relationship if you're just if they're a cold lead, cold prospect, so you may give them something of value for free or send them information that's helpful that helps solve their challenges. So, if you're understanding what I'm saying about email marketing, it's only effective if you get the messaging right using the conversion formula and your understanding of where the prospect is on that buyer's journey are the keys to effective email marketing. Now, if it's someone that's a warm lead or someone that has heard your name before and they kind of understand what you do, and that presents itself the possibility you can make an offer. But an offer doesn't necessarily mean it's to purchase something. It could be an offer to go to the next stage of your sales process, whatever that is. It could be a meeting, could be a presentation, it could be a webinar, it could be an offer to get more free information. So all of those forms of offers would be applicable. And you can also do what's called and you should really take this down a database reactivation campaign via email which is for those people who already they're already your customers and you're looking to

27:43 generate additional revenue by making a new offer or an upsell, a down cell, or a cross sell. And remember, it's much easier for an existing customer to buy more quantity and buy more often than it is to get a new customer from scratch. So if you just used email marketing to reactivate former customers, that's an outstanding strategy. A lot of business owners miss out on this. They don't realize the goldmine they have with people that already no like and trust you, and they forget about communicating to those customers. Even if they're just sending out a free piece of information and not even making an offer, these customers will appreciate that. It's just part of customer appreciation and nurturing. That's the word I was looking for, customer nurturing, and it's it's missed a lot by business owners. So there's a lot of different layers to email marketing. It's not just oh, let me put together this email format and send it out to X, Y and Z type of customers. There's a nuance to this. There are certain different email campaigns that you send out to certain different market segments of either your database or potential customers that are out there. And email works really well when it's

29:14 combined with other strategies. We talked about how email is much more relevant and more effective using the conversion formula and having a strong position of market dominance. Once again, it's the messaging. You know, we talk about another strategy of using a squeeze page. And when you're making an offer to someone and it could be it might not necessarily be an offer to purchase. Once again, it could be, you know, you're offering some value to help them solve their problem for free because you're looking to build your email list. It could be is that then once you capture those emails, you can drip out information to them using predetermined segments of where they are in the buyer's journey.

30:01 And the thing I love about email marketing is imagine having all these messages that are going out on an automated basis, even while you're sleeping. Oh God, I love that. And then see all of this stuff that we're talking about with email can all happen in the background on an automated basis. You set it up one time, uh, and then you have multiple email campaigns going on at once because each campaign has a different purpose. And the key is is that you're always marketing and it doesn't cost you anything. Uh. And to create those campaigns, it just takes you know, you just sit down and really think through what the steps are and you know what what's what is the what are the problems that the buyer is going through? Uh, And how do they go about making that purchase decision, the problems they're facing, the problems that they're looking to overcome, what is that they don't have, what's the problem they don't have, and the solution they need And think about the steps that they take on that buyer's journey. And all you do is match those steps with the right information. It just takes a little bit of time innovation to create those different campaigns.

31:20 And then when you have those things working together, it's like magic because you're communicating and building relationships with people and creating sales at the same time. And here's the thing. There's a myth out there. They're saying that email marketing is dead. It's not. It's not true. It's the messaging that makes the difference. And don't forget there are ways to use artificial intelligence. I use Claude as a matter of fact, and it's a way I train Claude. I train the robot, if you will, all about my business and then I ask it different questions about copy marketing, copy about how I go about how should I go about solving a certain problem for a customer. What are the problems that my customer has based on my customer profile that I've given it and trained it. This is the opportunities with AI. If you train the robot about your business and I gave up my customer at Avatar and knows everything about me. So if you take advantage of that, running email campaigns will be ice cream. So most people are running email campaigns that aren't working and they're having a messaging challenge, and AI is one way

32:51 they could go about solving that challenge. So the opportunity here is really understanding the problem that the potential customer has that they don't want and what that the solution is that they're looking for that they haven't been able to find. And by using that and understanding those two key elements, you could get into the head of your prospect and craft the right message that'll convert and that is absolutely the key. So before I talk about another topic, we're going to take a ninety second break. Hey, their business owners, let me ask you something. Are you tied of blending in with your competitors, frustrated with slow growth and slim margins. Well, I've got news for you. Everything you've ever learned about growing your business is wrong. Don't worry.

33:42 I'm here to let you in on a secret weapon, your position of market dominance. It's what sets you apart, makes you irreplaceable, and has customers lining up at your door. My name is Michael Barbara from Next Step CFO. I know what you're thinking. Sounds great, Michael, But how do I find my position of market dominance? Well, that's exactly why we've created our game changing implementation program called Next Step to Market Dominance. In just ninety days, we'll guide you step by step to a position of market dominance by uncovering your unique strengths that competitors can't touch. By crafting a message that resonates deeply with your ideal customer, by building a strategy that turns you into the go to expert in your field. Now this is in theory.

34:28 These are battle tested strategies that have helped businesses like yours double triple and quadruple their revenue. Don't let another quarter go by struggling to standout. It's time to dominate your market period. Go to NEXTSTEPCFO dot net forward slash contact. Fill out the form and in the message section put the word dominate or call us at seven eight one three two six three A two two. That's next STEPCFO dot net forward slash contact or call us at seven one three two six three eight two two. Welcome back. Well, I'd like to add something that of a little motivation.

35:11 You know, being a business owner is really hard work, and I know you all know that now as being a business owner, and a lot of us wonder why we ever pursued such a journey. But the satisfaction that brings when you have a successful business is heavenly and that is why we do this show, and that is why I believe to be the reason why we pursue these endeavors. And by the way, what I'm about to say, I'd like to give credit to Darren Hardy for the information that I'm about to share. So I'd like to share with you what I call the story of David. David was born in eighteen ninety in Henryville, Indiana. When he was six years old, his father passed away, leaving David to cook and care for his siblings. Seventh grade, he dropped out of school and left home to go work as a farm hand. At fifteen, he faked his age to enlist in the United States Army. After being honorably discharged a year later, he got hired by the railway as a laborer. However, he got fired for fistfighting with a coworker, and while he worked for the railway, he studied law until he ruled his legal career by well getting into another fist fight in the courtroom. David was forced to move back to live with his mom and got a job selling insurance and guess what, he got fired, this time for insubordination, and in nineteen twenty

36:41 he founded a ferry boat company. Later, he tried cashing in his ferry boat business to create a lamp manufacturing company, only to find out that another company already sold a better version of his lamp. It wasn't until the age forty that he began selling chicken dishes in a service station. As he began to advertise his food. An argument with a competitor resulted in another fistfite. Four years later, he moved I'm sorry. He bought a hotel, which burned to the ground. He then rebuilt it and ran a new motel until World War II, forcing the close back down. Following the war, he tried to franchise a restaurant. His chicken recipe was rejected one thousand and nine times before anyone accepted it. Once accepted by one restaurant, the chicken quickly became a hit. However, the booming restaurant was crippled when an interstate opened nearby, so David continued to pursue his dream of franchising the concept. After years of failures and misfortunes, David finally hit it big at the age of seventy two. David is better known as Colonel David Harlan Sanders and his franchise his KFC, expanded internationally and he sold the company in nineteen sixty six, at seventy six years old, for two million dollars. In nineteen eighty six, the company was resold for eight hundred and forty million dollars,

38:14 and even today standers remained central in the KFC branding, and his face still appears in the logo. At age ninety, Standers passed away from pneumonia, and at that time there were around six thousand KFC locations in forty eight countries. By twenty thirteen, there were an estimated eighteen thousand locations in one hundred and eighteen countries. My fellow business owners, if you're overwhelmed by rejection, or discouraged by setbacks, or think you're too old to dream, to build a dream, remember the story of David buy And from multiple jobs ruined, his legal career, was set back by the Great Depression, one thousand and nine, rejections in World War Two, yet still created one of the largest fast food chains in the world at age seventy two. I'll close this story with this quote from David. I made a resolve that I was going to amount to something if I could, and no hours, nor amount of labor, nor amount of money would stop me from giving the very best that there was in me. It's time for compliments. I have four compliments today that I'd like to give. One compliment is to Chaka Condecca. His company is CDK Consultancy, a

39:48 management consulting firm, and Chakai has over forty years of experience working at engineering and executive levels from multinational companies over many geograph trees. His services run from operational excellence to training and development. You could get to the chica's website at www dot Cdkconsultancy dot com. Compliments to Rob Nitzel. First of all, Rob is a member of the military and we certainly thank him for his service. Rob is the founder of Peak Pulp Performance Consulting. They specialize in optimizing organizational performance by refining daily operations, enhancing communication, visualizing key performance indicators, and providing targeted coaching. Their mission is to bridge the gap between the leaders and frontline operators, empowering teams to achieve peak efficiency and effectiveness. Rob's website is P three con. That's P three con dot com.

41:00 We'd also like to complement Sandra Waldwren of the name of her company is Hit the Spot Treats. Sandra has says that your business deserves to be remembered with Hit the Spot Treats corporate gratitude. You develop corporate gratitude, you grow client relationships through gifting. With gratitude and hit the Spots treat sells delicious gift boxes of goodies from cookies to macaroons to whoopee pies. Their website is hit the spot Treats dot com and she says getting started is really easy. Just send Sandra your client list and she can handle the rest. And by the way, with every gift box that she sells, she sends a donation to the Multi national Multiple Sclerosis Society. And then there's Bennett Goldberg.

41:49 And Bennett is the owner of Ottery, a capital group, and Bennett is an expert in sales, marketing, strategic planning, and best practices in the construction industry. I spent ninety minutes with Bennett and I can tell you he is a master of his craft. His website is Otterycapital dot com. And so these are people that we compliment for various reasons. A lot of them have had a book interview with our company. Chicky and I are continuously updating to update for the next edition of our book. We keep writing additional versions of our book. And the reason is is because business is always changing, and we find that some of the strategies work best in certain industries, they essentially work in all industries. However, some of them work better in other industries. And it's our job, Chocky and I my mind to find out what industries they work best in, and to continuously update the book with new strategies too that we might hear from other business so that other business owners are doing and that's why that's why we do these interviews. And to interview for the next edition of our book, simply go to next Step CFO dot net.

43:09 That's next step CFO dot net, hit the contact button, contact us and UH in the in the form, fill out the form, and in the messaging section of the forum, just put book interview and we'll send you a calendar link UH and we'll be able to interview you. And I promise you this, If you do get interviewed, you will learn business and financial strategies that your competition isn't doing. And that's what we want to do. We want to we want to implement business and financial strategies that your competition isn't doing so that we can stand out and we can scale our businesses. So to get a copy of the book Powerful Business Strategies, simply go to our website www dot next Step CFO dot net. It's totally complementary and until next Monday at noon Eastern time for Chucky Obio. This is Michael Babarita, and remember, don't keep doing what your competition is doing.

44:10 You have been listening to powerful business strategies finding out that everything you ever learned about growing your business is wrong. Tune in next week and every week at noon Eastern time on W four CY Radio with your host Michael Barbarita of NeXTSTEP CFO and moderator Chucky Obio