Oh, No! They Accepted Our Offer

[Music] hello everyone welcome to the 21 hats podcast I'm your host Lauren Feldon this week Laura Xander Diana Lee and Dana White all share big news Laura tells us that she and her husband and co-founder Doug put in a bid to buy a building for their business in Reno and she's not sure how she feels about the fact that their offer was accepted Diana explains why she's decided to pay a fortune to take over space vacated by glitzy magazine company K Nast in Manhattan Freedom Tower a move that required her to put down a $2 million security deposit and Dana tells us that she's had preliminary conversations about opening paral Boyd salons on US military bases around the world which prompted Diana to encourage Dana to start vetting Investment Banking firms I'd be like here's the contract with the Army give me the money so I can scale This Out Diana told us even in Good Times owning and running a business can be a lonely Pursuit our hope is that these we l conversations will let owners know they are not alone in facing challenges same thing with our daily newsletter the 21 hats Morning Report which highlights the most important news of the day for business owners and which you can subscribe to at 21h hats.com where you can also find transcripts of our podcast episodes and lots of other articles and interviews joining me this week on the podcast are regulars Diana Lee who is CEO of constellation agency and new york-based digital marketing firm Dana White who is CEO of paral Boyd a chain of hair salons based in Detroit and Laura Xander who is CEO of Jimmy Bean wool a digital yarn store based in Reno NADA and meline Tosh a yarn supplier based in Fort Worth Texas the episode is titled oh no they accepted our offer welcome Diana Dana and Laura great to have you here um thanks for coming back Diana I'm glad we didn't scare you away last week thank you Lauren for having me of course I know uh we still have lots to learn about how you built constellation agency and we're going to get into that uh but I want to catch up with uh with Dana and Laura first um Laura in particular you I heard a rumor about you you might have some news is this true Jay tell you he did I'm not sure that I want to say anything not that like I think my landlord is going to be listening but I don't know yes no did I sleep well last night not really I had like anxiety dreams all night like all night like I I dreamt that um not that it matters what I dream yeah we may have news we're working on it can you give us a hint our so our lease is up in March um and Reno is going through the roof like the real estate market and it's been this way for years um we have about 20,000 Square fet and we like our spot okay you know it's fine um but you know last year we had been looking at buying a building in Texas and that was a traumatic experience that did not end well but but wait a second it did end well in the sense that you tried to buy a place you wound up Leasing and you like the place right yes yes so I think that everything happened the way that it was meant to happen and that we're in a good spot um so our broker who we had been looking at buildings about two years ago we thought we were going to buy this Texas business and we had considered moving it to Reno so we were looking for buildings that could house both businesses and just couldn't find anything and you know everything was so expensive you know compared to what we thought it should be I guess anyway so um this broker sent me a note about a week ago and um 10 days ago and was like hey there's this building on the market that I think might be a good fit for you you're about 6 months out from your lease expiring or 9 months or whatever she's like the Market's not softening here in Reno and there's No Vacancy like the vacancy rate right now is I think 2.7% wow anyway so we went and we looked at this building and or I went and looked at it and I'm like okay it's about the same size as what we have now it's neat you know it's quirky it's got a bunch of build outs that are kind of weird so then I took Doug and Shannon our general manager kind of fully expecting them to just be like yeah I don't know I don't think so and they loved it and so I'm like crap so we put an offer in um and then last night the owners of the building who had owned the a business and they sold their business about two years ago and now that business is being Consolidated into another location and so now they have this empty building and they're selling the building anyway so we got a draft of a purchase sale agreement last night um and I've been talking to the banker for about u a week you know since we put the offer in and I actually just sent him a note this morning and I'm like okay I had anxiety dreams all night last night like I can't go through this again I said I guess I'm just I'm a brat like I'm used to getting what I want and it was really traumatic to try to get these loans last year and to be denied a couple times like it really messed with me I didn't realize how much it messed with me until now like I'm really gunshot so anyway we may buy a building we're pursuing it what's the anxiety about oh god um so funny you should ask I sat like on my yoga mat for about 30 minutes this morning trying to like figure out what I was anxious about um two things one getting denied again so going through this whole process all the work that it takes all the distraction you know for the next 60 days and then at the very end the bank saying haha no you know we're not going to fund you we won't give you the loan so that was one that's one part of it and then the other part is just that the market is so hot here and so I'm really nervous that we're buying at or we would be buying at the top of the market and that we would get burned and so you know if you want to get like all therapy on it I think I'm worried that in five years I'm going to feel stupid or I'm going to look stupid I can't think of very many situations where a business owner has bought the building and regretted it 5 years later do you know of anybody who's been through that you know that's a good data point and that's Doug and I have been talking through all the scenarios his fear is um that something will happen with the business and we'll have to close the business and we won't be able to afford the building and it'll the market will have crashed and so we'll lose a ton of money because we'll have to sell the building you know when the real estate market crashes you know what are the odds of that happening not super high but you know so other than that he's like super comfortable with it so if he's comfortable with it and Shannon our general manager is comfortable with it and thinks we can run the business out of it then I'm good with it then it's just you know a case of me still having being upset that I got told no and I don't like being told no I'm an only child can I be the J can I be the J person on the phone today you can but you know I have your cell phone I'll text you later Laur Laura Laura you're killing me what are you talking about right now Laura I mean I you're so used to having everything your way that you you got to you can't say no look you have an opportunity in front of you Laura and you got to decide if you want to do it what is it that I always say I always say one it is what it is right now this building the market it is what it is what else do I say Laura I say two deal with it you got to deal with it what if what if the sun burns your building up what if what if there's a flood in Reno there all these things but there's never a reason to regret buying commercial property I bought commercial property 20 years ago and four four times I I I bought commerci property 20 years ago and I've made genus money and I've made yeah and and you know what I'm set my kids are set my grandkids are set what I'm telling you is it is what it is fourth thing you're operating with a good and Noble purpose noble cause L you're making Dana White ladies and gentlemen Dana White you're making good yarn you're doing good things you're you're you're dying good yarn you just overhauled your staff you're ready for this and fourth you know what my fourth thing is I'm not going to say the exploitive on the air because you know I don't want Lauren to get any people calling him back and saying hey that offended me but you know that it's get out of my way you've got to move forward so what you get rejected by a bank go to another bank you get rejected by that bank go to another bank keep going the banks till you get the ass you want that's all I'm going to say they just took me over like you guys are great possessed me and spoke Diana let me ask you I believe you're in the process of moving your office did you consider I think you're going to lease in your new uh location did you consider buying so Laura this is kind of really interesting because I've just gone through you know six months of pretty much uh investing so much time and energy into actually moving our offices so we actually took the kai Nas space on the 21st floor and we're moving to close to 50,000 Square ft the the 21st floor of K Nas so in in one World Trade Center okay one World Trade in the financial district so I just went from a bu building in New York to an a building and the views are spectacular I mean you can only think that K Nas would have done an amazing job on their property so it is probably the most beautiful office I've ever seen in Manhattan it has been our ninth move in The Last 5 Years and each time it gets a little easier because you realize that you could do this right and it was funny of what you were saying Laura because I'm leasing it right now but kind of went through the same thing you did a little different in the sense that now I have to prove to everybody that we could actually afford the rent and and going into this spectacular space right and so when you have numbers that are doubling year-over-year but there they're still looking at you saying you know are you really going to be ever the size of K Nas one day should we actually take a risk on you I took a formal meeting with them the decision makers of this and I said let me Pitch you who is they sorry are you talking about the bank I actually am leasing this space directly from Kai nass and I'm still them okay yeah I'm still at this point self-funded and so I have not taking any uh money at this point and so I have to prove to condas as well as my Bankers right I had to put up close to $2 million in security deposit going into this it's it's an astronomical amount of money to uh freeze up and the question is do you do a bond or do you actually freeze up this money and I you know lost sleep thinking about it but at the same time I said you know what I really don't believe in having debt and so it I'm a debt avert so I really wanted to just put the security down and that's what I ended up doing so if you have no debt what's the bank in the very beginning when we started consolation nobody would give me a loan just like you or credit line so for the two first two years so was nothing um but now I do have actually lines of credit um I yeah and I like to draw from them however I like to also pay them off at the end of the month because I don't like debt and I don't like you know having to pay interest so if I can try to stay away from it I'm like one of these people that if I get a 15% discount to pay the whole year upfront i' rather do that oh sure sure yeah we operate the same way Diane I have a question for you about that but first Laura has this had an impact on you either uh Dana's J impression or uh Diana's uh explanation of her experience what does it leave you thinking it is what it is is a really that's a great Point day J de J um Dana J that is and I was trying to think about that you know and one of the something that somebody said to us years and years and years ago about houses because it was like kind of a similar deal when the market gets real hot you know we got to live somewhere and our lease is up in March and you know the monthly payment on this loan even though I feel like the building is too expensive the monthly payment on the loan given the low interest rates is still going to be lower than what we anticipate our new rent to be it just is what it is and we gota we gotta live somewhere anyway you know so you know it's just it's it's scary it's really scary all right Diana my question for you is why did you want to have such special space why do you need a you know the the most beautiful offices you've ever seen I can understand Kandi Nast one in that uh what does it do for constellation agency it validates us right Lauren so we're a company that's 5 years old and you know as much as I thought in the past that space did not really matter it makes a huge difference when you're inviting clients over potential clients as well as anybody that basically wants to get to know you um it it's basically your face going forward and so I never used to think that it makes you know the the uh the decisions but it it really does and I'll tell you even when I do the zoom calls typically with anybody anybody important I'm going to do it for my office making sure everybody can oversee an office and the reason is this Lauren is when you're a startup people don't realize how small or how big you are and at the end of the day when people are going to plunk down cash to give you they want to make sure that you're not going out of business and that's a huge factor into why customers will give you hundreds of thousands if not millions and so if you basically can show an office that's your face that that pretty much presents itself in the most um I guess special way then they are not going to Second think guess it they're they're thinking hey this company haven't really heard of them they're brand new they they say that they're a startup they've been out there for 5 years how do I know they're not going to go out of business you come into a space that's 50,000 square feet that's got over 300 deaths in it takes you 15 minutes to go from one side to the other they're not going to have that situation happen their mind and that's the importance of having beautiful space so can I be I'm going to just be a total um and you know being on the west coast and living through the dot era um or at least the early.com stuff and seeing what happens there I kind of feel like it's the opposite um I you know my perception is if somebody's spending a ton of money on their space like I don't know it just feels like it's wasteful um at least that's the perception and we've just watched tech companies and I know you know you guys are different but from a tech company West Coast standpoint all of this money being spent on the damn ping tables and you know the cool architecture is not money that's being spent on development and it's not money being spent on like great employees and it's not money being spent on all of these other real things to really like push the business forward and I mention the West Coast stuff because my guess is that it's completely different in Manhattan and that appearances are extremely important so remember when Karen said this though and for her office in Seattle she said she spent a lot of money on real estate because it's what helps attract good people she said we're located where we are here in Seattle and where we are in our offices around the country because it says something not only to our potential customers but it also says something to the people that work for us where they have a place where they could come and work so she said yeah we spend money to be here but it's because of the message we're sending to our clients and staff yeah that makes sense on that and that makes sense on the employees wanting to have a beautiful space to go to um and to be proud of I guess I get that I totally get that just I think I bristle at the like I want to do it just for appearances um just because we've watched so many companies go out of business with because that's what they were doing it's a legitimate question you're asking Laura and I'm eager to hear Diana talk some more about it but you know it's almost a cliche uh throughout history lots of businesses have failed after spending too much money on their location um you know that that is something that that has happened a lot when people you know overreach did you think about that at all Diana yeah so um you know Laura we are a tech and Tech enabled business so we have a development team a data science team count team campaign team and my business is really making sure that you know millennial and the most talented Millennials join our organization when people have not heard of your name and you're in the in New York City and the reason that I'm in New York city with the highest amount of rent is because I need to attract the most highly competent talented employees out there um and they're going to look at the space exactly what Dana said and they're going to say hey this is the company I want to join and so it's not just even about the space for me it's the fact that I have to pay for everybody's lunches every single day um I have a company event on a monthly basis I've thrown Botox parties for the employees I've rented out movie theaters but every single month I have a yoga bus that comes by were you doing this before the labor shortage or is all this stuff the result of what we're we're going through now no I've been doing this for the last five years I've had makeup parties I've had every single month and you could ask my employees they have been spoiled blindly I mean I I give on their fourth year I gave them Rolex watches I've done everything to keep Talent retain Talent including give company stocks but for me my business is very different because it's Tech and Tech enabled and once I lose them I actually can push go backwards on the development aspects of this so it matters not just to clients potential clients uh employees but it it is a part of my retention plan to make sure everybody is very engaged satisfied and want that totally makes sense yeah and how's it working I mean how are you do you have any turnover of course we always have turnover but it's not with my a staff right so you know I think I've gotten to the realization that you can't keep everybody but you must keep your a players and so I'll do everything to retain a players and in my mind you know whether it's not just a matter of making them feel special but it's also making them feel as if you're going to always support them Dana I want to check in with you too hey Lauren how's the fud feeling the fear uncertainty and doubt that you've talked to us about in the past the fud is the fud is always there you know it's a it's a now it's become a a familiar friend um but you know it's subsided um it it's definitely not as bad um as it was when on that on that last episode our CNN article went live about uh nine days ago last Tu day tell us about that yeah it was it was amazing it was a surprise um because they came at it at a different angle um in the initial article they said my grandmother was the first woman in our family to not be a slave and of course my my family was all texting me Dana what what like what does that mean right and so he said no they fixed it um but since that article's come out several opportunities have presented themselves um some extremely viable others not so much so um I'm I'm happy to say that the uh United States Air Force um the United States Army um and the US Navy have reached out to me um I'm a little bit further along with the United States they're trying to recruit you right they actually thought that I would be an excellent Soldier um and I start basic in a month no all you can be I'm gonna be all I can be in addition to it's a guaranteed paycheck right um what what what do they actually want they want per boy on their basis wow um they they said in their email to me that they believe that my business model that per Boyd is uniquely situated to solve for the Hair Care issues with textured active duty um female soldiers and their families on their bases around the world so we've had that preliminary conversation as to okay what does a p Le boy in Germany look like what does a pely boy in Fort Hood Texas look like and I am scheduling my visit to go see the uh three bases next month wow are there complications de dealing with a government entity like that that um that you have to figure out so I had some preliminary questions for our call um because I'll be honest with you I too know the issues the United States mil military has had with African-American women in their hair and I understand the fight African-American women have had to have on behalf of their hair because not everybody un most people don't understand not only us but our hair and what I didn't want was for the military to use perly boid as a well now that we've got you you know we've got a paral boy on base you now have to do your hair like this I didn't want that and so now that that's that's clear that I won't be forcing women that look like me to either go to braids or not um because you have to wear your hair like this um there's other complication as far as you know Staffing which we've talked about marketing which we've talked about um getting my products on base pricing um contractual stuff like rent what all of these things are going to look like so this definitely is a process and there is nothing done um we're still in the early phases having conversations and making sure that having par boids on um bases works for both the mil milary and for Peril boy would these be franchise locations or company-owned they would prefer that they are company-owned what would you prefer I don't know you know because I have to I have to get ready I the reason why I don't know is because I have to Envision it I have to Vision what this looks like that's why Staffing is important um I also have to make sure that I've developed as a leader that I'm not the same person or don't run the organization the way I did when I first started paraloid which meant oh well such and such called off from work so now I have to go man the desk I can't go man the desk in Germany right and then we can't close down but what my network has told me um and I've spoken with people who have businesses in the exchange which is where they would put me the mall for the Army and the Air Force they and they can further confirm that you're ding you're dealing with a different person employee and customer when you're on a base nobody is going to jeopardize their standing in the base so coming to work late having a wife who has a husband as an officer and she is a cosmetologist and she you know isn't coming to work that could jeopardize their standing at the base and so they're really not going to do that so they said she said you're going to deal with a different type of Workforce and a different type of customer um and I've heard that a couple times from different people who have had businesses on Military basis does it fit your brand it does it does it does and I was concerned that it would have to be this very structured the good news is is that the young lady that I spoke with and she was amazing um she has done her homework on per Boyd so it wasn't oh I saw you in this article and now I'm going to call you no it was I've seen you in this article this confirms what I've known so far now let me reach out to you so they've seen pictures of the salon um they know what my brand is and they believe that it fits and so when we talked about the changes to my business in order for this to happen there's not going to be many I do want to when there are young ladies who are in basic training I do want them to wear their hair a certain way for health of the hair right and ease of use for them but it's not okay you can't have that color okay you can't have these products they're very committed to making sure that the brand of Perle Boyd stays because they believe it fits in the exchange and does it like customer Bas wise I mean this seems amazing to me but customer base wise are these the women that once they leave the military you want as your customers I I don't know how to absolutely yep and potential franchise owners right potential franchisees in retirement right so I've already thought of that because my vision for the franchise was already I was I wanted veterans I wanted people who hear the rules I have a history of following the rules you know even Ray Croc with McDonald's he went to the VFW and found his first franchises and so I've watched founder like seven times and I said you know what I want veterans right backwards and forward so you know that's what I'm looking for and what it literally while we were on this podcast today she's sending me the demographic information but if you all know me that's not enough saying that we have 880,000 African-American women on our base you know you're you're you'll do great here no I need to know of those 880,000 African-American women who is my captive audience if we have 880,000 African-American women who wear dreads then I that's not my business isn't going to thrive there so when I go down there and I'm going to speak with her later on this afternoon we're going to have conversations on potentially doing a focus group not only for potential customers but also for people who are going to work there she's let me know that marketing will be done on both television radio and Military social media um and just the the links that they'll go through to help me put this on base now quietly she said this is a security issue and the military is very interested in having you on base because you being on base will help us solve a security issue what's the issue you know I'd rather not give the details on air interesting but it when she explained it to me I said oh yes it's just there's been some things that have happened on basis um and that they' you know they've noticed and said would this have happened if this had if there had been a paraloid on base oh interesting okay yeah yeah got it God a cool opportunity yeah Dana are you um still self-funded I'm self-funded yep selfed did and that's my concern and I said that to them you know my commitment is to franchising and considering that they would prefer that these be company owned and they had a really good explanation why and I completely understand um but my cost to build out these locations is going to be significantly cheaper than if I were to do it you know just a building you know off off off of a base so we're going to go over those numbers Dana is there a reason why you remain self-funded because the opportunity seems very big again and I would think that it would be easier in order to do that opportunity if you actually took some investment money especially if they they're willing to sign a contract on it I'm self-funded because the people with money do not understand the magnitude of the problem I'm solving for they have no idea how much money black women spend on hair if you think they is documented that black women spend upwards of $5 billion a year on hair product they spend almost double that on getting their hair done but but because this model the business model hasn't evolved to a corporate data generating business model all hair stylists majority of hair stylists Are One Salon two salons the salon owners are Booth Runners so they don't know what the individual stylists in their salons are generating as far as revenue and quite frankly a lot of the stylists I've spoken to don't know what they generate as regards to revenue they might know what they do in a week but they don't have a profit and loss and go through okay now that I've generated this how much is coming out for product how much is coming out for you know whatever um all they know is I can pay my bills I can pay my booth rent and I have plenty of product and so the reason why I don't have funding is because the people with the money have no clue how much money African-American women spend on their hair and there's no data company that can collect the data unless they're going to go to Every individual stylist and collect that data and they're not going to tell you because a lot of them are not paying taxes on that money it's cash so you have gone to investment bankers and said hey I want to actually give up parts of my company can you find a partner for me I've had people come to me and then it's crickets so they'll oh Dana Dana Dana Dana Dana I get it I've had black VC's come to me I get it I grew up in the hair salon and then you hear nothing and that's okay um I've spoken with Lauren about people that come to me and said hey they're interested and he's always been a little hesitant about me giving up a percentage of peral boy and I've literally had a VC years ago in 2015 he even cautioned me he said because the value of per boy today is going to be extremely different than the value of per Boyd in 2025 he told me that in 2015 he said if I were you and my partner would kill me for saying this to you take loans until you can sell it yourself until you have your number he said cuz the value of this is is amazing because my wife is black and I'm letting you know I don't see her on Saturdays and I don't see her friends I mean and they and I know how much money she spends on her hair every week whereas the Hair Market that the men with money are used to is their wives going to the salon maybe every six to eight weeks maybe monthly no black women go to a hair salon every week and spend upwards of $100 a week and that's just on themselves not to mention their two or three daughters or their daughters or their nieces I have customers that see sometimes twice a week I have customers I see every other week and my average ticket cost is $65 and I see a roughly eight six to 800 women a month and I'm in a slow season I see it but you know what who am I so Dana obviously I see it as well and I see a huge opportunity and I see how well you're going to do in the future I'm just letting you know from you know just things that I have gone through and and remaining self-funded and looking for partners and things I had the same thing happen where people did come in and individual uh private equities Venture capitalists as well as strategics um and I'm just asking you just because I think that is completely different from actually going to and vetting out an investment banking firms if you basically went to an investment banking firm and let's say you vetted three to five of them they're going to be able to tell you who they think that the strategics are they're going to also tell you who would also be interested in that partnership they'll also do all of the number crunching on your side and give you a potential evaluation but they don't evaluate it from the past they evaluate it from the future so what I'm saying is they'll look at what your projected revenues will be from 3 to 5 years and be able to give you a a low a medium and a high and then they'll say hey Dana I really want your account because I think I have the passion to sell it to somebody these are the people we know these are the people that we've actually done business with and these are the people that we have in contact with will you pick us and so you can even find Investment Banking firms to do it on contingency right now contingency you don't pay a dollar but I feel like they'll find you you know a 100 potentials and out of the 100 maybe you end up getting it down to three and then you pick it out to one but I'm just opening it up there Dana cuz this Army thing is a huge deal and if you actually get them to sign it then I would go to the investment banking firm saying you have all these opportunities don't know if I want a partner yet but wanted to let you know that with these opportunities that partner is going to make a lot of money right now so find me the partner it's bananas in there the the interest alone is outstanding the Air Force and army already have their timeline for me and what they want to see and to your point you know Dana have you considered an investment banker I haven't had time like I'll be honest with you I have not had time I'm setting up this franchise business we're working on the operations manual my um franchise Consultants are amazing but there's only so much they can do I have my homework to do in addition to you know managing this my current location which is easy because I've got such a such a great staff um but I'm not a you know a absentee owner I do check in I was there yesterday um and so as far as Investment Banking I just haven't had time and I'll be honest with you now that I'm talking I'm thinking about it I'm remembering the advice I got from an investment VC here in Detroit make sure you know you're doing when you give away a percentage this is too valuable I get it Dana because I also in the past have feared investment bankers and all that but I feel like your opportunity is very unique as then you got a big idea and you've got to basically go out there and you've got to scale this thing really fast before anybody else decides to actually do it right and so from that perspective if an investment banker is able to find you as strategic that basically has already done a franchise model especially in hair and they know actually how to do it and they have all of the contacts already then I think it'd be a huge opportunity to be able to give up percentage and that way you don't have to like worry so much of I can't do this because of the scalability of what they're asking for in the Army I wouldn't even second guess it I'd be like here's the contract with the Army give me the money so I can scale this out this is what I'm looking for this is the dollar amount that I'm looking for in terms of valuations I went to five different Investment Banking firms they gave me all the different evaluations High middle and low this is what the value is based on my projections from 3 to 5 years and right now money is the hottest right like it is an alltime best time to find an invest that's what Goldman Sachs told me yeah they said the capitalization on franchising is the highest they've seen in years not even franchises this is the most amount of investment banking right now that's been happening in America the most amount of spaxs that's ever been here in the US actually investing right now there is no hotter time in America to actually sell off shares I believe that right now is the hottest time and I don't know it's going to ever get hotter than this to take a few chips off the table might not be a bad idea at this stage Dana I'm curious when you had this initial conversation with them obviously they're aware that you're just getting started I'm guessing they have some Finance opportunities that you might be able to take advantage of did they raise the possibility that they would help you uh fund this kind of buildout um not directly because it was a really preliminary conversation um it there's nothing committed um it was it was more on the lines of construction and buildout setting up the space to make sure that I could come in and just do it a lot cheaper than I could if I were to do something off base so that's it um other people have told me who worked with the military before they said with this opportunity um and considering what you're helping them solve for you'd be surprised what calls they might be able to make on your behalf um and so that's where that's the next thing that keeps me up at night in conjunction with what Diana said was hey building it out and scaling it quickly enough to get the brand established and the only thing that's stopping that is money and so I would be willing to speak with you Diana you know let's exchange emails and say okay who do you think I should be approaching um I know as far as information I'm proud to call Goldman Sachs a part of my network I'm proud to call Ur young a part of my network and maybe I can Broach this topic with them um but I would love to speak to you just to see you know to get information on okay if I'm going to do this once I get the contract from the Army and the Air Force um and and when I tell you guys their timeline is aggressive great googly mugly is aggressive they're like Dana we want this this this this and this so my thanks to Diana Lee Dana White and Laura Xander as always thanks for sharing guys wait wait don't leave yet if you have a question or a comment that you'd like the 21 hats owners to address send it to me by replying to your Morning Report or by email at Lauren 21h hats.com that's L ren21 hats.com do it now before you forget and don't be afraid to tell Jay what you really think he can take it and if you got something out of this conversation help us reach more business owners tell a friend subscribe and review us wherever you get your podcasts follow follow us on Twitter subscribe to the morning report at 21h hats.com this episode was produced by Jess thubron founder of blank word Productions okay now you can leave thanks for listening everyone [Music]