PHP Agency & Patrick Bet-David: How Big is this Opportunity?

I'm Patrick Bede, David's CEO and founder of PHP Agency. You may recognize me from a video that went viral on Facebook titled, The Life of an Entrepreneur in 90 Seconds, where we received roughly 22 million views in 30 days, or maybe some of the interviews I've done of several successful entrepreneurs, but today I'm going to be addressing one question that I get asked quite often is, Patrick, how did you make your money and what industry are you in? So just think about it today as if me being an attorney, and I'm going to make a case to you of three different things. Why you ought to consider entrepreneurship, why the financial industry, and why PHP Agency. That will be the main purpose of this video. Before getting into any specifics, I want to share with you my personal story on how I got involved in the financial industry and becoming an entrepreneur. So I was born and raised in Iran. I lived in a Christian family living in Iran for 10 years. We escaped on June 15, 1989. We went to Germany as a refugee camp for a couple of years, and then from there we came to the States. I lived in Glendale, California. I went to high school in Glendale, California. Right after high school, I joined the Army. I was in the U.S. Army for a few years at the 101st Airborne Division Air Assault. Had a great time in the military. Got out of the military. I wanted to be a bodybuilder. That was my dream. I wanted to be the Middle Eastern version of Arnold Schwarzenegger, so I started working at Bally's Total Fitness. And at Bally's, I learned very quickly that the people who make the most money in America are not necessarily the ones that have college degrees or master's degrees. It's the people that are generally involved in sales. And here's how I figured this out. While working at Bally's, a lot of people would come and want to buy memberships, and I knew I was going to be in sales, and everybody kept telling me, you want to consider entrepreneurship, but I didn't know which industry. So I would ask, so what do you do yourself before selling them the membership? I'm an engineer. How about yourself? I'm this, I'm that. And I would ask them, what do you like about becoming an engineer? What did it take to become an engineer? I went to school for eight years. What does it cost for eight years? Roughly $200,000. What does an engineer make after 10 years? $120,000. What are the benefits? What are the downfalls? I would ask. How about yourself? Real estate. How long have you been in real estate? 10 years. What do you like about real estate? You can make a lot of money. What do you not like about real estate? For every 10 years in real estate, you have a divorce. For every 90 days in real estate, you lose a month of your life. Stress is very high. You know, on Sundays where everybody wants to have fun with the family, we show homes on Sundays, etc., etc. So if you want to be single, you may want to consider, if not, it may be a rough industry in your personal life. How about you? So I started asking everybody. And eventually, I met a gentleman who introduced me to somebody in Newport Beach who owned his own yacht company. I'll never forget when I went to this meeting. We're in Newport Beach, Balboa Club, beautiful place, we're on his yacht. And finally, after everybody was talking to him, he was alone for a split second, I went right to him and I said, look, I am looking for one industry that I can get involved in where 5, 10, 15, 20 years from now, I can make the type of money I want to make, but I also want to have a life. What industry do you recommend? And it was one of those days I will never forget for the rest of my life because I was purely on him. I knew I wasn't afraid of working hard, but I wanted to know, does that industry exist? And he said, look, very simple question, and I'm going to give you a very simple answer. What would you say are the busiest days of the week? And he went through, instead of answering, he gave me this whole explanation. What are the busiest days of the week? I said, it's either the beginning of the week or the end of the week. He said, what's the one place most people would like to be on Friday morning? And I said, probably home with the family, relaxed. And he said, not necessarily. He said, the wealthy people in America want to be at the country club golfing. Look, I come from the Middle East. I said, when was the last time you saw a Middle Eastern golfer? And obviously I was kidding with him, but he said, look, it doesn't matter. 20-30% of people who golf on Friday morning are in the insurance and the financial industry. I said, why is that? He said, because they get involved in this industry for 5, 10, 15, 20 years. Eventually, every time the client pays for their insurance policy, their investments, their mutual fund, whatever it is, it accumulates and they start making 5, 10, 15, 20, 30, 40, 50, some even $100,000 per month, based on their book of business, and they're able to go out there and enjoy a game of golf. I said, but why the financial industry? I don't really understand. He says, well, let me explain it in a completely different way to you. He says, do you like sports? I said, yes, I do like sports. He said, what would you say are the richest sports in America? Now, I grew up playing baseball, and I grew up playing basketball, so I said, baseball and basketball. He said, baseball and basketball are the poor man's sport. I said, why is that? He said, because you can always tell what television programming is tailored to the wealthy or the poor, based on the type of companies advertised during commercial breaks. And I said, and? He said, what kind of companies are advertised during baseball and basketball games? I said, I don't know. He said, beer, soft drinks, fast food, and coffee. He says, you know why? I said, why? He said, that's what poor people buy. And I was absolutely offended, because I said, look, what do you mean by that? That's exactly what I buy. He says, that's my point. They know you're their market, so they're advertising to you. Never ever did I look at television programming the same way again, because I started realizing, this TV show is tailored to the poor. This TV show is tailored to middle America. This one's for the wealthy. He said, the richest sports in America are golf and tennis. Here's why. Do you know what kind of companies advertise during golf and tennis tournaments? I said, what type? He said, Voya, Allianz, Hartford, Allstate, Prudential, Chase, Pacific Life. He went on and on and on. He says, do you know why? I said, why? He said, the wealthy understand how money works, and the rest don't. Before it's too late, learn how money works. So I left Bally's. And I left Bally's and I started working for a company called Morgan Stanley Dean Witter. Literally where I'm standing right now doing this video, we're in Glendale, California, two stories below where I'm standing at, on the ninth floor, is where I started with Morgan Stanley Dean Witter in Glendale a day before 9-11, exactly a day before 9-11, 2001. So day one everything is good, day two 9-11 happens. And eventually I went and got my training at Mark Hopkins Hotel in San Francisco, had a great time. I fell in love with the financial industry for a couple reasons. My parents, they went through a divorce and one of the main reasons was over finances. And I saw so much of that happening and my father having a heart attack over financial stress and I said, I just don't want to see this happen to my family. I'd rather have my family. If they're going to pass away, I want it to be because of a natural cause, not because stress caused by finances. We can fix that. So I wanted to learn this. It was a lot of pain with what I experienced as a child and money. So I said, I'm going to learn how this works and I'm going to teach my family. So I stuck with the industry. But while I'm with Morgan Stanley Dean Witter, I go to my first account I was helping. I was a gentleman that owned his own Windows company. I'll never forget. He was worth probably in the $10 to $15 million range at the time and I wanted him as a client. And I sat with him and I said, hey, Aaron, I would like to earn your business. He says, what do you mean? I said, you know, here's my business card. I'm now working with Morgan Stanley Dean Witter. And he all of a sudden had a smirk on his face. I said, why are you smiling? I'm here to earn your business. He said, son, why don't you grab a seat? He was in his 50s, extremely sharp, knew what he was talking about and I really looked up to him, but I wanted his business. He says, Patrick, do you ever plan on being wealthy? I said, of course I plan on being wealthy. He says, let me restate the question. Have you positioned yourself in a way to have a shot at becoming wealthy? I said, I think I have. I'm working in one of the top four financial firms in the world. I have my Series 7. I'm on top of the world. Great company. Great opportunity. Great job. This is great stuff that's happened to me. So the answer is yes. He says, let me explain something to you I learned 35 years ago in Manhattan, New York. I said, what's that? He said, rule number one of wealth. Never ever work for an established company that's been around for 30 plus years. You don't want to do that. I said, why? He says, you don't want to work for a sexy established company. He says, you want to go to a company that's only been around for 5, 10, 15 years and help that company become established and sexy, and then you'll become wealthy as long as you own a piece of that company or you're one of the voice. And I said, this makes a whole lot of sense. I left Morgan Stanley. I went to another firm, part of the Transamerica group. Had a great time over there. I learned a ton. A lot of great experiences. And in October of 2009, decided to start our own firm called PHP Agency, where we started with 66 agents and now we have roughly over 2,000 agents in 30 some states. And this happened in a five and a half, six year period. And we've been all over many different publications and we write more insurance today on the Equity Index Universal Life with AIG than any other company four years in a row, so we've grown to a whole different level. But that's what happened to me with the business and throughout this entire time, you name a place in the world, I've probably pretty much traveled to Croatia, Dubrovnik, Santorini, Athens, Masanovia, Venice, Italy, Guatemala, Jalisco, Narit, Puerto Vallarta, Kona, Kauai, Maui, St. Mark, Caribbean, Bahamas, Cayman Island, Portugal, Spain, NASCAR races, Disney World, Kentucky, Derby, Super Bowl, Pebble Beach, Dubai, Tuscany, Paris, all over, because of this industry. This industry took me all over the place due to this industry, and I meet a lot of people that have worked for a company for 10, 20, 30 years, and I don't hear a lot of those stories. So, I'm going to make the case why you ought to consider getting involved in this industry. Now you know my story, but first, before we get into that, let's talk about what it really costs to live today. What does cost of living really look like today? See, let's look at some numbers here. Back in 1980, look at these numbers here. An average stamp, you bought a stamp that was $0.15. That same stamp today in 2014 is $0.49. That's an increase of 204%. If you look at six eggs, back in 1980 was $0.48, half a dozen. Today it's $2. That's an increase of 316%. If you look at bacon, a pound of bacon in 1980 was $1.20. Today a pound of bacon is $6.11. That's 409%. That kind of makes you think about back in the 80s, we should have bought some pigs and kept them. We would have become pretty wealthy there. 1980s, the average house was worth $62,900. Today, $281,000. That's a 340% increase, 346% to be exact. The average income in 1980, $17,710. Today, $53,891. That's an increase of 204%. What does this tell you? Life is getting very expensive. And a lot of things with our income is the fact that it's not keeping up with cost of living. Maybe our income's only increased by 204%, but to buy a house is increased by 340%. How do we keep up with that? And then I hear a lot of people nowadays say, well, I make a six-figure income. I make a six-figure income. So I said, well, six-figure income was a very big deal in the 80s when you made it. Because in 1980, if you made six-figures, you were somebody. Today, if you make six-figures, everyone's doing it today. There's a lot of people doing it today. So let's compare 1980 to 2014 for six-figures. We already know that in 1980, the average income was $17,710 and today, in 2014, it's $53,891, which is an increase of 204%. So now, six-figures in 1980 was a big deal. So what does six-figures mean in 2014 if we increase it by 204%? Well that number is $304,000. That means, what it meant to make six-figures in 1980 means $304,000 today. So that question then becomes, well, how many people are actually making six-figures nowadays? Here's roughly what the numbers are looking like. One in every five persons you meet makes six-figures. One in every 50 makes a quarter-million-dollar-a-year income. One in every thousand households is making a million-dollar-a-year income. You know what surprised me about the last number? Most people think it's a lot more, meaning one in 100,000 make a million-dollar-a-year. There's a lot of people in America that are making a million-dollar-a-year income. So why is it so important to position yourself today in a way where you actually have the opportunity to make the $304,000-a-year income? Here's why. Studies have shown to raise a kid, to raise one child from zero to 18, costs roughly $245,000. Two children is $490,000. Three is roughly $736,000. Every time I see a family with three kids, I say, that family must be a millionaire to be able to afford to have three kids, because it's that expensive to raise kids nowadays. So Patrick, which industries can I get involved in where I can actually have an opportunity to make a $300,000-a-year income? Well, typically, you're looking at three industries. One of them is the computer industry. You'll need to go to school for eight years to become an engineer. It may cost you $120,000-$200,000 and eight years of schooling. That may be one way. The other way is the medical industry. We're very familiar with that, to become a doctor, anywhere between eight to 12 years. That could cost you $200,000-$300,000 of schooling, of doing that. And you're taking eight to 12 years before you can start actually making real decent type of money. And the third one is the financial industry. Now within the financial industry, obviously you have different sectors, whether it's real estate, whether it's the stock market, whether it's insurance, regardless, your investment is roughly going to be between $300,000 to $2,000-$3,000 on licensing to get involved in the financial industry. The question you need to ask yourself is, which one can you do today? Do you want to go to school for four to eight years? Do you want to go to school for eight to 12 years? Or do you want to go get your license in the next two weeks to six weeks and get your business going? My option, the one I chose, was the third one. And here's why. The reality of it is we have three different alternatives. One is go back to school, two is settle for another job, or three is, become an entrepreneur. Matter of fact, if you were to ask yourself a question right now, think about this question. Who is the wealthiest person you know? I'm not talking about Bill Gates or Warren Buffett. Who is the wealthiest person you know that you've touched yourself and spoken to? Who is that person? Think about that person real quick. Is it an uncle, father, who is that person? Now this is the question. Is that person an employee or an entrepreneur? If you said entrepreneur, what makes you think you're going to become wealthy just being an employee? This is why the chances of becoming wealthy is higher if you're a hard-working entrepreneur and timing yourself properly with the right company or the right industry. So with that being said, let's now transition into timing. Because we've all heard people say, you know, creating wealth is about being at the right place at the right time. So is the timing really in our favor to get involved in the insurance and the financial industry? Let's look at this. Between 1946 and 1964, 76 million babies were born in America and we called these babies baby boomers. Now, you and I know why there were 76 million babies born after 1946. War ends, husband comes back, hasn't seen wife for the longest time, they're making babies and we made a ton of them and it became the baby boom generation, right? But what does that have to do with business? Well, this is what's been said. If you can find out what boomers need next, and you're at the beginning stages of it, and you have a concept that brings value and you do something about it, you have an opportunity at creating wealth. So let's go back and see what's happened to our economy and our business since 1946. So think about today's 1946. You and I are thinking about starting a business together, today's 1946. The only difference between you and I is we know in the next 18 years, 76 million babies are going to be born. If today's 1946, you and I know in the next 18 years, 76 million babies are going to be born, what are some products you and I would come out with that newborn babies need? Think about that. You probably said baby food, maybe you said baby toys, baby shampoo. When you think about those three products, what companies do we think about? Baby toys, we think about Mattel. Baby food, we think about Gerber. Baby shampoo, we think about Johnson & Johnson. If you dig deeper, you will notice some of them came out at that time, but most of them, their boom and their company happened after 1946 when this baby boomer generation started growing. Now let's look into the 50s. In the 50s, these kids started turning 5 to 7 years old. What do you and I start attending at that age? We start attending school. The challenge in America was we did not have enough schools to facilitate 76 million kids to go to school. So guess what was the best industry to be a part of? Construction. Construction took off because they got 10, 20, 30, 40 contracts to build schools and that was a boom in the 50s. Now in the 60s, these boomers are starting to turn 16 years old. What do you think is on the mind of a 16 year old? You probably said car. Now, do they want a station wagon or a sports car? They want a sports car. What car do you think came out in 1964? You probably may have said Mustang. If you think about the American sports car, Mustang, Camaro, Corvette, they're all around boomers. That's what happened in the 60s. In the 70s and 80s, these boomers are now 30 years old. Wife looks at the husband and says, Honey, I'm sick and tired of renting. Let's buy a house. So real estate took off in the 70s and 80s and today, today, these boomers are no longer babies. Today, they're roughly between the ages of 51 to 69 years old. What do you think they're getting close to? That's right. Retirement. Whose advice do you think they need? They need our advice. They need somebody in the financial industry to help them out with their retirement. Now, Boston College has told us, based on a study they did, that there will be roughly $41 to $136 trillion of wealth that's going to be transferred. Let me say that one more time. Not billion, $41 trillion of wealth that's going to be transferred. And it's been said, every time wealth is transferred, wealth is made. Because in order to have some kind of wealth being transferred, somebody in the middle needs to be involved in helping that transition take place. And that person in the middle gets compensated from the financial institution, whether it's Allianz or Hartford or Nationwide, whoever it is, they'll get compensated for bringing that client to the firm because without them, they would have never found out about that client. We're talking about $41 trillion that's going to be transferred between now and roughly 2052. That's one of the reasons why the industry today is booming the way it does. Now, it's not only the boomers that need help with what we're doing. We have three other generations that are also in need of help with financial advice. One of the generations that doesn't get a lot of attention is the millennial generation. There's roughly 82 million of the millennial generation. Their age is roughly 21 to 35 years old. Now, the challenge with them is, because there's no more door knocking going on today, they generally don't have anything in place with their finances because if there's one thing about financial planning or insurance or investments, it's normally we don't go seek it. We don't go buy it. Somebody comes selling it to us. But there's no one knocking on the door, so who's going to them? Pretty much nobody. This is why the millennial generation today, if you speak to them, they don't have a lot of their finances in order because there isn't somebody coming to them saying, hey, you need my help. Let me help you out. How can I help you out? The other generation we're looking at is the Gen X. That's roughly 46 million of them. That's 35 to 49. Then we have the boomers. Then we have the seniors. That's 40 million of them. Every one of these different generations have a different need. Some may be just getting married and they need an insurance policy because they just had a child. Some of them need to have some money on the side to prepare for buying a house. Some of them, they want a retirement product. Some of them want final expense for their elderly parents because they don't want something to happen to their elderly parents and they don't know how to pay for the $25,000 of burial and final expense. Some of them are so heavy in the market and they're boomers and they're concerned about what's going to happen if we have another 2008 and the market tanks 38%. But regardless, each of them has a need that needs to be filled. So that's roughly 200 million people in America that need our help. And it's not going to happen with the amount of agents we have in America because these are what numbers are looking like today with the number of agents we have in the insurance industry. Let's take a look at this next chart on what it looked like in 1970 with the number of agents we had against our population and what happened in 2013. So in 1970, the insurance industry had roughly half a million licensed agents and our population was 204 million people living in America, right? Now when you look at that number, the population in 2013 is roughly 316 million people. So you say, well we went from 204 million people living in America to 316 million. So how many more licensed agents do we have? Do we go from a half a million to 600 to 800 to a million? Well the reality is today, we have 149,000 licensed agents according to a LIMBRA study that was done. So that means we went from 500 to 149. Where is the problem here? Here is the challenge. 149,000 cannot service 316 million people. If you remember a study in supply and demand, this is what supply and demand told us. When supply is high, demand is low, supply is going to drop. When demand is high, supply is low, supply is going to catch up. Today, the demand for what we do is very high, 41% of Americans have no life insurance. It's the highest we've ever had, ever, in America. The demand of agents is low. This is why you're starting to see bigger competitors that we have, MetLife, New York Life, they are recruiting agents today like never before because everyone knows what's going on in America today with the amount of demand that there is for insurance agents. The only reason I show this illustration to you, this is not necessarily for everybody. This is purely for some of you that are watching. Maybe you played sports before, you're competitive, you used to be a real estate broker, you've made seven figures before, you've made a half a million dollars before, and you know, in this business, you have one of three choices. You can either be a part-time agent, there are many people today in America that are part-time real estate agents, part-time insurance agents, why? Because primary income is not cutting it anymore. You saw the numbers earlier. People need a secondary income to make $2,000, $3,000, $4,000 a month to supplement their income. Your choice is one there. The second choice you have is to become a producer, just like in real estate, there's a real estate agent that's selling homes and insurance, you can become an agent. And you service families and you help them out. But you're mainly doing production. You can make $40,000, $50,000, $60,000, $100,000, $200,000, $300,000, $400,000, $500,000 a year just selling insurance and annuities. But then you have the broker. The broker is somebody that would look at this and say, listen, what if I decide to expand? What if I decide to open up new territories? What if I go into a new marketplace? We have more people today moving to new cities and new states than we've ever had in the history of the company. We started all out of Northridge, California, one office. Now we're all across the country and many of our offices across the country are led by people who are from California who moved there. Now we're starting to get a flux of people that are calling us and are getting on board all across the country that are coming from hearing about what's happening with our company. But I tell you this because it's purely for somebody that's looking at this and saying, I want to be part of something that's expanding and growing and that's exactly what's happened today in the financial industry. Let me share two statistics with you that I think is very important for you to pay attention to on again, validating why this industry is a great time to get involved in. One is the average agent in the insurance industry is a 59-year-old white male. And secondly, the industry is having a hard time connecting with multicultural communities as well as millennials. The reason why that benefits us with PHP, the average agent of someone in PHP today is a 33-year-old Hispanic female. 54% of our agents in our company are women. And the second thing is over 50% of our agents in our company are Hispanic. Now we have all sorts of nationalities and ethnicities in our company, but we are figuring out a way to connect with the multicultural community because I come from that community. I know how we think. I know how skeptical we are. I know when we sit there and we think about, do I do this? Do I not do this? I don't know much about finances. I know I need to learn about how insurance works, but I don't know how to go out there and get this done. But we know we want to do something as well because if there's one thing the multicultural community is very clear on, we work very, very hard. We know about work ethic. All we're looking for is an opportunity. I say this because again, if you're looking at having an edge with a company, we have a major edge today against the industry and that's one of the reasons we're growing at the pace that we've grown with the company six years in a row. So to finish it off, I just want to also tell you about some of the great partners that we have with our company. Companies such as AIG, 41 largest company in the world, Nationwide, everyone knows Nationwide is on our side, Foresters, Allianz, Lincoln Financial Group, the list is a long list of partners that we have. And I know a lot of times people say, well I do want to do some research on your company and I want to find out who you are and what you're doing. That's great. But I just want you to know, AIG has definitely more access to resources of doing an investigation on us and due diligence on us than anybody else. The only reason I tell you is because when companies like that, like Nationwide, AIG, Foresters, trust to do business with us, that's also one of the reasons why consumers today are feeling very comfortable doing business with us versus some of our competitors. Now there's a lot of great competitors out there. We're obviously very competitive. We're also out there trying to get the marketplace, but we respect our competitors. But there's a couple of things I want you to be thinking about against our competitors that's slightly different with us and them. One, we are very big on vesting. When you get started with us, after being with us for three years as a director, your clients, you're vested with them, meaning for the life of that policy, we're going to pay you the renewal. Even if you decide to leave us, we're going to pay you the renewal for the life of that policy. Two, as you get to a level with the company, you're able to sell your agency, meaning 5, 10, 15 years from now, your agency is bringing you $600,000 of your income and you decide to sell it to somebody for three times the amount, $1.8 million, you can because you own your agency with us and PHP. That's one of the things that many other companies don't offer you. Three is a thing that we have a very special thing going on with the company. I'm a big fan of knowing that when somebody owns this together, when we own this piece together, when we own a property together, when we own a company together, we're going to build that company like it's our own. You know the difference like when my father gave me a car and I bought my first car and you wash the car every single day versus somebody gives it to you? We have an equity program where leaders in our company, already many leaders in our company own a piece of PHP. And why is that so important to you? Because as we grow the company, as we grow the brand, if an opportunity comes up for any of the events that could take place, you're not only going to participate on the vesting period, on the part of building your own agency and all the commissions that you're going to get paid, but if anything happens on a bigger picture with PHP, partnership, acquired, equity, public, any of that stuff, you also participate with that as well because you're an active equity partner with PHP and not many of our competitors are doing that. They may give stock options, they may do some of those things, but we're talking about pure equity with the field that participates in profit sharing and many other great opportunities with PHP. Look, I'm telling you this because I was a regular guy. I did not think I'm going to be in a position today where I'm traveling the world and living in a beautiful place, beautiful wife, two kids, four-year-old, two-year-old at the time of watching this video. I have one in the way right now. We found out yesterday. It's a girl. We're excited about that. You know, driving the nice cars I dreamt about as a kid, you know, and Iran posters of, you know, it would be kind of cool to have a Ferrari one day and I have a picture of me as a kid at 22 years old putting my keys in a red Ferrari thinking one day I'm going to own the Ferrari and now I own a 458 Italia Ferrari and I'm able to enjoy that and look, it's not to tell you any of these money things matter. What's most important to me is my dad had a major heart attack in 2003 as well as 1993. He's had 13 heart attacks and my dad's been to Hawaii eight times. My dad's been able to travel the world and he is still here today with me while watching this video at 74 years old because I wanted him to be proud of the sacrifices he made from Iran to come over here and give his kids an opportunity. I say it to you because I think we are living in the most incredible country in the world. I think the free enterprise system is an equal opportunity for you and I to take advantage of and build something special for our lives and I think, in my opinion, I believe the financial industry is the most powerful, is the best industry to be a part of, simply because you have a shot at making a lot of money, making an impact, and learning about how money works for yourself so you can set yourself up as well because a lot of times people know how to make the money, but they don't know how to manage their own finances. You'll learn that in this industry and look, my challenge to you at this point is get back together with the person that shared this video with you, call them, send them a text message, private message them on Facebook, wherever it is. Now these videos are being seen all over social media. Two is, if you want to get a little bit more into detail, I wrote a book called The Next Perfect Storm that became a best seller in the insurance industry. The link should be on the bottom with a free link to read the book or listen to the audio on YouTube. You can listen to it for free. I think it's 120 minutes on YouTube, roughly two hours you can listen to it. Or number three, visit our website, www.dphbagency.com, once again, www.dphbagency.com to find out more about our company and you can reach out to our home office and we'll connect you with some of the leaders that we have around the country so you can find out more about who we are and what we're doing and why it's so special that we're growing the way we're growing today. With that being said, I really enjoyed spending some of the time with you and I thank you for staying and watching throughout the entire video. I look forward to meeting you one of these days at one of our big events. Take care.