Even full-time capital raisers usually approach 200 to 250 investors to find 14 to 20 yeses.

[00:38]

"Um, or you can do full accounting bookkeeping or full Outsource CFO functionality, and it's a a big pain point for a lot of families. Just keep, keep everything managed, have another Brain Trust kind of looking over everything."

[03:03]

"All they do is think about raising capital and they still usually go to 200 to 250 investors to find the 14 to 20 that are going to say yes and invest."

[15:16]

"But we want it to be a Perpetual learning machine for myself, selfishly, and all of you guys, so that if you hear 120 speakers on stage, 10 or 20 of them are like, have really great ideas"

Full transcript

If anyone wants help creating or formalizing their family office, um, our website is virtual family offices.com, if any. If you or any of your clients need help with that, it's called vfos Solutions, virtual family offices.com and Garen, you'll see on the website. We talk about CFO and Accounting Solutions. Uh, David is the person that we trust with those.

So, um, when you see what is on our website, that's the capabilities of David and how we work with him and we refer people just like you or just like Todd, who is up here, someone like that, and he can create, uh, dashboards. Just update those once a quarter. Um, or you can do full accounting bookkeeping or full Outsource CFO functionality, and it's a a big pain point for a lot of families. Just keep, keep everything managed, have another Brain Trust kind of looking over everything.

There's so much going on, right, um, I have clients as well that have 150 llc's. So, uh, the level of complexity there is great and it's a challenge to understand everything they have going on. Not even like even with myself. I'm not a big, complicated family office and there's no way to to keep my wife's interest long enough to explain: this is this LLC, this is this K1, this right.

Just only me and my CPA know what all those things are out there that exist. That's why you have to have the if I die document. You know if you're family office level at all. Um, I took a couple notes there at the end too. So what I found with global investment Capital raising, if it's helpful, is that, like my wife is from, uh, Brazil originally, if a family is from a certain area, um, then they're more, much more likely to invest in that area because they grew up there, they have family there, they visit there often if it's their favorite place to vacation.

Makes it easier. If it's British law or they understand how law works there. Makes it easier if they're not afraid they're going to have to bribe people to stay in business, makes it way easier. Um, if you can actually go after somebody legally and recover an asset that gets squatted on or stolen, makes it easier, um, one of my mentors is an expert in like off short trust and estate transactions.

He has a lot of international investors. He hosts an annual event just once a year for about 50 private investors in family offices, um. I'm going to be speaking at that event. It's in South Florida in November, in about three weeks, and people who come there have like a global mindset and they put some money into precious metals.

They take some money out of US currency, put it in other currencies, they invest offshore, they structure offshore trust and estate structures. Um, that um are very, very hard, close to impossible to have someone penetrate from the US through litigation or government actions Etc. Because completely out of their name and someone would have to fly down to bise to file an action against that trust and bise and that Trust might not be the one who is driving the car when it ran over the person's million dollar dog, right, so they don't have any action against that trust. It's against you here in the US, so stuff like that um.

The other thing is that we've had people on stage have raised 500 million, a billion dollars, plus full-time professional Capital raisers with 20 person teams that do third party marketing, and they have the best crms, the best data sources. All they do is think about raising capital and they still usually go to 200 to 250 investors to find the 14 to 20 that are going to say yes and invest. So if you feel like man, this is tough, I'm going to hundreds of people figure out how to close this deal. That's normal for even the best Capital risers in the world, so don't beat yourself up too much.

Uh, if it was easy, uh, I wouldn't run a single event, raise 100 billion myself and sit on a beach somewhere and and go on fun adventures twice a month, right? Uh, it's not easy. I'm always learning more every time we host an event and I teach this stuff because I know it's what my business is made of. So the more I teach it and add genuine value, I hope to enact reciprocation in you guys and make business friends.

I. Maybe we do something besides sitting a mastermind together all day five years from now, you know? Um? So that's kind of my goal in teaching some of this and the comment about the lottery winners earlier. It's just like pro athletes: on average they're bankrupt seven years after because they made the money too quickly. It's the same with kids inheriting money and the two out of the four kids dying from drug abuse.

It's like earning money very, very fast at a very young age is a deadly combination. You need to earn money slowly so you make stupid mistakes with really small amounts of money and then you learn: oh, that was painful, not can do that again. Oh, that was painful one year at the super Summit. I should have known, because it was like our seventh super Summit.

I always know the last morning at the opening time we used to start 700 or 8 AM. Less people would be there at the opening bell because they had so much fun the night before at their dinners. That got done at 1:00 am. And, uh, maybe enjoying a drink or two or something, uh, there'll be less people there.

And I forgot to adjust the breakfast count for scrambled eggs from like 350 to 220 or whatever for that. That first little session, and you know, blew 20, some thousand on scrambled eggs. You know just stupid, stupid stuff like that. You're better off learning in small amounts rather than in big amounts, and you can blow. We've seen people blow through $40 million and then have nothing left because they put 25 million into one investment.

They pay taxes, this and that, and now the family doesn't talk to them anymore. They not only blew the money, they blew their whole family's relationships because they spoiled it for everybody. Right, you don't want to have that happen. Um, also J J from the pritzker family. Um is famous for saying that you have to find the critical element in the deal that makes it work and then really focus on drisking that or making sure that one critical element goes really well.

Um, I was reminded of that while uh listening to David. So you have to figure out what that is for your deal. Um, let's see here. Uh, there's a question about cutting ties that David answered. And um, I'm reading this book right now where David Rubenstein uh interviews a bunch of famous investors. A lot of them are billionaires.

It's called how to invest, um. It's a great book. You get hear from all these different personalities and um masters of investing like Ray Doo, um, Etc. And basically in there he asked that question to many people and a lot of them say, well, they do their research. If it goes down and they still like the story, then they'll stick with that story until their story becomes comes true because they're high conviction on it.

But if they had a gut instinct on something and start to put on a position and the research doesn't support it, they ignore their emotions and they ignore the herd and they'll go with what the research and what logic tells them they should do. And ignoring the herd and ignoring emotions, uh, are two pretty important things that comes out from all those interviews. Um, only thing we didn't touch on today I wanted to was the uh three trust curves idea that deals get done when people trust the team. They've known you forever, they like and know and trust you, they know the industry and they're local to the deal and they get to walk, walk the deal, walk the manufacturing plant, Etc.

Um, if you're an investor and you're looking at deals and you don't know the team, you don't know the industry and you're not local to the deal, then you're just wasting your time. You shouldn't be doing that deal because you're not going to sleep well at night. You're just throwing darts on doing random things. If you're raising capital and you're meeting with people that don't know you don't know your industry, aren't local to you or the deal and you're not going to raise any Capital, it's going to be frustrating.

Um, somebody could have known you for a decade, done five Self Storage deals. You show them a self storage deal, but in Vietnam maybe they don't do it because it's so not local to them. Right? This is why people raise money from friends and family. First, because you might trust your brother-in-law so much you'll put 30k into his crypto fund and you have no idea how it works.

You're just supporting him and you trust him to the moon, so you do it. Um, so every meeting you walk into, you can look at all the influence of persuasion strategies we talked about today and think to yourself: what trust curve do I need to move this person up? They already know me, they already know my industry. Let's get them to walk the opportunity.

Let's get them to try the product. Let's show them a video of the device on the oil rig, Etc. So that's been really helpful to me in getting more transactions done. So, um, I'm going to go through these real quick and then we have about 10 minutes for a couple people to share what their number one takeaway for the day is.

So if you want to think about what you want to share with the room, um, I'll give you the mic here, Laura, for when people raise their hand, um, then maybe something that you noticed or picked up on is something we really didn't emphasize and glossed over really fast for 4 seconds and someone else missed, um, and it might really help them by you seeing what the number one takeaway you had for the day. So we went over the idea of presu others doing things. So the very next moment or later in the day or meeting. That thing you want to emphasize is much more impactful: becoming the scarce Authority.

Also talked about the Brute Force reciprocation idea and removing friction, uh, the three trust curves. We just talked about long-term commitment and I started out the day saying that you have to see deals first, exclusively in a better valuation if you want to compound your balance sheet faster. But another, another way of saying that is you have to be number one in something for a very specific someone. You have to know what is the asset owner you're trying to get in front of and what do you want to be number one Authority on so that they want you to join their board.

They want you to be on their cap table because of what's going to happen to them. Um, by doing that is the opposite of blackmail, where you say, if you don't do this and break your window like old school Mafia style, it's the opposite. It's basically, without you having to say a word, they know that by offering you something, a whole bunch of good stuff is going to happen. Right, it's the opposite of blackmail.

It's like an incentive to work with you and that's why people, Weight Watchers, gives better terms to Oprah Winfrey than a random investor, is going to add no value. She gives tons of exposure, right, that's why Warren Buffett gets amazing deals exclusively presented to him. Or Mark cubin. They say, well, that, that $8 million valuation for your mobile app idea that might have flown in your neighborhood, but welcome to the Shark Tank.

This thing is worth a million dollars on its best day and if you want a shark, we're investing a million dollar valuation, you know, because all the value they would add, um, so if anyone wants to share a couple of uh takeaway, something you wrote down, maybe your number one takeaway, something surprising you learned or something that you're surprised we didn't cover because it's so important to influencing good results and Deals, have a question for you? Sure, we met briefly. Darwin introduced us before the thing started. So I do what Darwin does.

I raise money by Apartments. Know the sharmas and the GS there in the room to do the same thing. All of us have kind of been successful. I've raised probably three $400 Million last 10 years. Okay, bought a couple billion dollars with the real estate and we're in an environment that Darwin saids very difficult for the um raising 100,000 at a time like, like we all have in this room, the four people I mentioned.

We're here, I think, to level up to try to get relationships with bigger checks. You know we're gonna have to take a less lesser structure as a sponsor to do that. I believe that to be true. What um are? A couple things could give us advice to you to work. My first event for you.

I'm going to Florida. I want to be effective. I know these relationships take multiple touch points, multiple months, all the stuff you said I I intuitively know that. But how can I utilize this organization to achieve some of these goals? Because I think we're at a moment where the opportunity my industry multif family is going to greatly out outpace the opportunity or the capacity of my investor database right now, right, and the magnitude is the best in 15 years.

Right, it's a moment. We need to take advantage of it. That's why I'm here, that's why I'm going to Florida. So what advice do you have for us? Sure, um, you know, Dan Kennedy says, if you're not sure what to do, do the opposite of everyone else. And uh, in a credible way.

Obviously, you know I do it in an incredible way, but, um, most people don't have the one pager oneliner video articulating their Vision. Um, most people don't have, like when there's a flight to Quality, like right now. Most people don't have the institutional look and feel. Um, and I think that you have the level of experience where you can pull that off and genuinely and show that track record.

Like um Irwin said um to the person sitting next to him, he could show that decade of track record. Um, I think those things are important. I think that, um having having a association with someone that you would consider as the next level of credibility, that's like a gorilla in the space and they respect what you have built um, and being able to at least option, have the optionality to JB with him. When there's an amazing portfolio of deals you can't take down yourself, um, and maybe some of your strength is sourcing that deal in the bigger balance sheet actually provides the capital.

Um, that might be something that that brings you up to the next level. How do we get con to find those types? Yeah, uh, multiple ways. So one is we have um recordings of all of our past conferences. We also have recordings of investor mandates in the portal. The investor mandates are searchable, the recordings.

There's just discussion panels on real estate, on healthc Care, on private investors, on Angel Investors, Etc. And we ask all of our panelists: what are you investing in? What's your investment mandate? What structures do you prefer? Reality is, most people don't go in there and stream those videos, right, um, they, they don't really take advantage of that part of our membership.

Um, the other thing is we have 52 Niche investor databases. If you have a VIP membership or upgrade to that, you have access to those. We have databases of cannabis investors, Healthcare investors, single family offices, Angel Investors, Etc. Uh, me, Epstein was a member hadn't heard of family offices before or worked with him yet she came in, came to one or two events, but more, used the databases, persistently, followed up and raised a $8 million check and a $40 million check um, with almost no track record at that.

Now she has 600 million of AUM, maybe it's s or 800 Million by now, I'm not sure. Just talked to her, her email last week, um, but with very little track record. She sourced eight and $40 million checks just from using our databases, not even coming to the events. And a $40 million check equals $400, $100,000 checks.

So some people come to one event like, oh, I didn't raise any Capital. It's like the week after or something like okay, but like, maybe some people, you, me, you will raise capital from right, maybe those seeds are planted. And then you never know when, the right deal, right time with the right family, that you get a $20 million check, Etc. Um.

So the time Horizon in your brain has to be right, because sometimes the opportunity will be there and then you have to work really hard and develop that and go and other times, um, there's a billionaire client with closed 19 deals with now, um, but it took six years to close our first deal with him. There's other clients that worth 800 million and we got first deal done just two months after we me them. So it's a little mixed bag of you know. Uh, Gary Vander says you have to be able to hold in your mind to conflicting ideas of moving very quickly in the micro but then on like a MAA macro level, you're patient with the crops actually coming due and I think that's kind of a challenge of our space.

Um, but since we have heads of investor clubs speaking on stage at our events, um, you can meet at our Events. Maybe a peer who could help raise Capital, maybe a Guerilla group that would add to credibility, maybe, um, the head of two investor clubs with a thousand investors and 100 investors inside of them each and you do a webinar to some of those investor clubs might be a new structure you hear about in panel number six. It might be someone you want to keep in touch with as accountability partner. So it's like the structures of strategies, some investor leads and some big family office leads.

That combination is really the mixture that we're trying to, you know, provide on stage at the events and um, there's a lot of people out there that'll raise capital for 10,000 a month and 4% of what they raise capital for, or 3% or 7%, Etc. Um, that's not what we do. We're not cap intro, investment bankers or placement agents. There's no way for us to do that for a thousand members.

But we want it to be a Perpetual learning machine for myself, selfishly, and all of you guys, so that if you hear 120 speakers on stage, 10 or 20 of them are like, have really great ideas or there's a way to work with them, keep in touch with them, and that builds your rodex over time on top of who you meet within the audience. But that's why we have such short speaking times: to maximize the number of faces on on on the stage and like, like someone like Irwin might come and speak on a panel and he could give a whole Mastermind. That's more powerful than what I just said on a number of different topics. Um, he might only have like six, seven minutes to talk on stage and he flew halfway across the country and some people the first time at our events are like, oh, I got to talk for like four minutes.

But the whole point is like um say hey, I'm irn, Boris put together $600 Million worth of deals of industrial and cold storage and this I look for dislocated assets and things which are undervalued, or there's an Arbitrage opportunity, Etc. And he says his mandate, maybe some preferences on structure, adds a little bit of insight on the panel. And then people know that Irwin exists and this is a skill set and it's brief, but that way we get 120 on stage. If we had 10 on stage and you don't like five of them, it's like: well, now half the event was not valuable.

You know so long answer, I know. But, um, if you haven't walked through the portal yet with Jennifer, we can do that too to make sure you guys are using it well. Uh, other questions insights: yeah, Arthur can bring the mic back to you one second and then, as Arthur is finishing up, just raise your hand if you want to provide what the number one Insight is that you got from today. Hey, thanks, thanks for all for letting me chat today.

Um? U, one of the things I picked up from uh today's uh? U seminar is social proof. Right, uh, a lot of people um in this, in in this group, or is in, probably is in multif family real estate, things of that nature. I'm from a different sector. I'm in transportation.

I, me and you been connecting back and forth. One of the things I I wanted to uh um talk to people in the group to see if or you get some advice on. I have the list from Jennifer um for you can apply, you can purchase the list for Transportation right, people in the transportation Niche sectors is which I'm in transportation. But I was also looking for strategic partner to help me with my um clientele base.

For instance, like I have customers like FedEx, Ground, Amazon. We also do temperature control. Uh um transportation, sure, but it was. I was wanting to raise Capital right for for for our company, but I was looking for some, some strategies or some ideas on how I could connect with the people from the database. Yeah, yeah, really good question.

I've meant to cover that before and didn't cover it. So the worst use of a database of any type that you get access to is just to send out an email blast to everyone and be like, yeah, maybe, maybe 3% will reply, maybe I'll get some good meetings out of this and raise money. That, like, almost never happens. The best use is anytime you buy a plane ticket or go to travel anywhere to an event like this or super Summit or somewhere else.

You look who's in that area and you add a few extra meetings to your agenda and you say, hey, I'm going to be in Denver next Tuesday. Do you have time for a cup of coffee? We've done three deals with our um biotech company, with other family offices just like you. You know, like some of the things we talked about today, here's my oneliner and the email is just your oneliner and you have time to have coffee next Tuesday for 10 minutes while I'm in town, because that's a very particular email straight to them.

Better yet would be adding value to them in a very specific way, based on knowing who they are, than using your oneliner um, so that's the best use of it. Um, but that's for using databases you might buy, but we also build databases non-stop. So if we're trying to invest into med spas or Dermatology centers, then we'll make a database of all of them that exist in Scottdale with all their contact details, just like we have with billionaires. We've interviewed 27 billionaires, but we've emailed, LinkedIn and Facebooked every billionaire that we can find details for at least three, four, five times now.

So it's 27 interviews out of 9,000 pitches, pretty low hit rate, but we have a full-time employee focused on that. So anything you want to get done if you know who that ideal asset owner is, whether it's dry cleaners in San Diego or whatever, you create a universe of that, and we've done that for family offices before. Um, like roofing companies, like every private Equity Firm does this, but I've never met a family office worth less than a billion dollars. Who who does this?

And I don't know of very many private Equity firms that do this at under a billion. But you say, okay, we want to buy a consumer product companies, create a universe of 170 of them that are somewhat in some sort of quality geographical center, then get all the contact details, then write your sentence and a half credible how you're going to add value to them. Then you work that and we've done that before with 140, got on the phone of 70 and closed several transactions out of the eight that we found investable. So you can do that with finding clients and sometimes the best investors for a transportation business is a blue chip client that wants to see you grow, and that's what jock and Scottdale, who had multiple billion dollar exits set on stage in San Francisco.

He said he'll get an insurance company that would decide, decide whether his Healthcare Company thrives or dies, based on the insurance reimbursements and it'll have them be 10% of the cap table and it adds ridiculous credibility because everybody knows who this big insurance company, Delta, is in his industry and because they're on the cap table, they're not going to hurt their own investment, they're going to help their investment. So it's associating with a blue chip brand and, um, getting that strategic capital from a transportation company could get you more business and more capital and more credibility at once. You know, I think uh, Daniel in the corner, Laura had another comment to make. I think the biggest thing I got out of today is Health, uh, from both of you guys and then family.

So it's interesting. I get to spend. I'm super blessed I get to spend a lot of time with athletes and super successful wealthy people and um, it's a lot more fun today, when I'm 42 years old, to be able to spend quality time with my little three-year-old that looks like Hulk and uh and my wife and to travel with them and I usually bring them on the road if I go away for long period of time. But that like health and uh.

You know, after my dad had cancer a few times and not gone through the crazy stuff you have. But you know, I've learned, I think, at a younger age, like how do I value my day and my time and my my, the future? Right? So, thank you, yeah, for sure, awesome, yeah, I think it's important to emphasize that lots of times people come here and they don't expect to hear anything about health, um, but then sometimes they say it's one of the most valuable things.

I got as a reminder of that and somebody at our Scottdale um Mastermind. He heard us talking about being Ultra healthy, uh, 18 months ago and he's lost 65 pounds so far. Like that not only makes you feel better, I'm sure it it lengthens your life, right, uh, so I think that type of stuff makes a huge difference. And then you know, honestly, it's just me being selfish again.

I'm just trying to figure out how to be ultra healthy and what are these 30 ways I can invest in my own health? But by sharing it with clients. It creates reciprocation, cost me nothing to share it. I'm not trying to sell Health coaching. Right, I'm busy enough I don't have time for that. So, yeah, here's what I'm doing.

You know, if that help helps you, then great. And then people get me ideas of stuff that I haven't done yet but that you might be doing, so happy to trade those ideas with people here in the room. We have time for, uh, one or two more comments. If anyone, uh, yeah, up front, here is that Richard, is that your name?

Yes, cool. And then maybe one more after him, if you want to raise your hand, and Laura, I'll bring you the mic after Richard. Yeah, I just felt like the idea of Simplicity is the highest form of sophistication. I thought that was pretty profound: the idea that if somebody has to call you and explain their idea, that it's already not going to be well received, um, and also the idea that somebody, um, if you know, like and trust somebody, but the deal goes bad, that they'll still want to do business with you again.

I thought that was also really powerful, right, yeah, if you handle it really well, they might respect you even more than in the beginning, because they know the next time someone went bad again that you're going to do everything you can to make them whole and sacrifice your own fees or your own profits and make them right. Um, and yeah, the Simplicity part, I think, is really powerful. The busier someone is, the less they have time to understand the story and some people get upset by it. They like what.

You don't have 15 minutes to take a call. I've been a member for two years but, like, we have a thousand members and I can't be helpful and quick to everyone. Hearing verbal pitches of the deals, it's just not physically possible. Uh, you know, I work maximum hours I can while still being a good husband and Dad, uh, so, um, I try to say it the most polite way possible and sometimes it doesn't come off as polite, unfortunately, and and people don't like it, um, but I don't know another option, honestly.

So I think that's true. Like, the more valuable the investor, the less that. Like, if they think, oh, everyone's going to get on the phone to hear my pitch, then they're not used to pitching family offices. They're very busy, because that's just not the reality of the highlevel uh pitch. Yes, I'm front. This is actually just a, you know, quick comment to build on what Richard just said, and I believe it was an influence.

I could be wrong, but there was a a, a a case study where they gave, where HS that were having issues with, uh, their guests either you know room wasn't clean or whatever the issue might be that they actually had higher ratings from the customers afterwards because they had opportunity to fix it and work on it. So, just to your point, sometimes the, the um, the, the negative obstacles we face can actually be an opportunity if you just kind of flip. Yeah, I was on a run with my sister, uh, on New Year's Eve. I think it was last year.

New Year's Eve we're on a run, I get a text message that our Park City cabin, which we had bought two months before, was flooding and there was like a quar foot of water in the basement and one of our dentist investors, uh, who had invested in the cabin was staying there with their family. So on New Year's Eve we had to book them another hotel at our cost, get them in there, have humidifiers come, replace a sewage reversal pump, uh, like usual, Insurance didn't want to cover it, so it was like one little exception to the insurance policy, uh, and we had to um replace the drywall and the flooring and get the whole asset back online in about three weeks, and our investors didn't even need to know what happened until the next quarterly report. And we're like: see this huge hassle we just did. You just avoided all that by being passive investor, because to get that on New Year's Eve and disrupt the family and all that, it's not very fun.

That happens with real estate, though. What I learned with real estate is you have to not be emotional about guests doing this, tenants doing that, this not going well. Something's not going to go well when you have a lot of assets of anything um, you've came to the Mastermind twice. Is there anything that you noticed, um this time that you didn't notice the first time, or anything that um, you want to take note of?

Hly, it's, it's. I'm also watching a lot of the previous um recordings online. It's like every single time I sit down, I'm I'm getting something new. I'm filling up notebooks just full of notes over and over. But, uh, I think one thing I do want to hit on, though, was the point on the, the five, uh, the five levels of listening.

Oh right, it's. It's actually something I share with Darius and um. I think I may maybe mentioned it last week, but even darus was telling me that it's been impactful on the results he's saying as well. So, um, just kind of really in on not just listening to kind of get to an objective you're trying to reach, but, right, really putting yourself in their shoes, you know, investing yourself in the outcome, uh, really understanding.

Okay, what are some of the subtle nuances that I might have not heard at first, but if I really closely, there's something in the, in their story, that they're sharing. Yeah, yeah, if you're really good at listening, that's a skill set that helps you focus on one type of investor, that helps. But also, if you spend 80% of your meeting asking questions, then it makes all that kind of stackable exponential. My dad always told me up how, growing up, like, how important listening was, and I just never really listened to him on that.

But once I heard it from Stephen cvy and others, uh, then I started, you know, taking it more seriously. But, like, most schools don't even teach you how to do public speaking, or even in college, much public speaking, much less listening, right, they never teach you to listen like, oh, let's have a class on listening. Never even heard of that existing right. Um, if anyone else has any quick comments, oh, we have a couple more cool, let's just do quick.

Uh, maybe 30 second comments. We've got three or four hands up, that's great. Yeah to Adrian's Point: um, my whole, because I really just started in the direct industry. But my results changed instantly when I took the approach of empathetically listening, because if you, uh, you know care to listen, people know that you care, and literally I went from having you know little leg work in the industry, but having a bunch of Industry knowledge to listening to somebody empathetically and having access to just about all the resources that I felt I needed to propel forward, so it's definitely key and I appreciate you for sharing that with him, because he passed it on to me and it worked instantly, cool, awesome.

Yeah, something else has been working instantly for us, as Michael at our last Mastermind said that instead of sending out a blanket email, if he has someone they really think should be investing in this deal, he'll record a personal video and then send a video to them, and there's no way that that was automated by Ai and it's saying like: hey, John, remember I went skiing last year? I said I was going to keep in touch when our next, next medical deal became available. I think you could add strategic value to this deal. These are the details why we're excited about it.

Just like a little 2-minute video. And he says that he does that. He raised $65 Million last year and he said that's something that he does. He gets like a very high response rate from a very customized text message video just on Ry in's iPhone and then just hit send um. Yes, next one, yeah. So I do invest in banking for mergers and Acquisitions and the biggest thing is consistency.

So, like in everything that you do, whether it's the financials that you bring me, I see a bunch of that. So don't be telling me you're going from 20% profit margin to 60% then next year, just stuff like that. That raises, like if you're inconsistent between your website, the pitch deck and everything, it just kind of raises up red flags. People are already going to be looking for things.

So if you're inconsistent, it makes people think, okay, you don't know, like, what you're talking about. Yeah for sure. Or uh, way overly aggressive or optimistic. It's like everything is planning on going 100% right, as kind of a sign of a Amateur hour. Or if they run around saying this the best deal you've ever seen, or this investment return is guaranted, that's like saying the word bomb on an airplane in our industry.

So want to avoid people that say that or act like that, guess, hey, Richard. So my favorite thing actually was about the Next Generation in the family and I thought of, like the information and the education being the Forefront, then taking action. If I go have kids or my friends have kids and then they partner with your daughters and build something so special like that opened up a a whole new bubble space in my mind for just so much power, growth and positivity. I was that was really cool, awesome.

Yeah, I think the the Next Generation comments, uh, Michael, I think were super helpful. I think that's something that I took note on that we're gonna be taking action on. Um, yes, in the back. Yeah, so I've come to several of the, a couple of these over the years, but it's been a while since I've been around.

But you know, I I come out of the entertainment industry, I'm a filmmaker, so so a lot of this is so foreign, the language is so foreign, but that was my compliment. It. It's something that, as I've come, I've been able to have the exposure to the language to speak this language of investment. It's a language of equity and understanding and it helps to hear what family offices are looking for and all these different things.

We've been in business for 32 years. We're we have a vision to build the next big American studio right with conservative values. So it it's been a huge help, as we learned and heard, and a lot of the speakers today also reinforce that, so I appreciate it. Awesome, yeah, I think if you, uh, if you craft things like a due diligence questionnaire and your, your consistency of your marketing, Etc to be appealing to family offices, then if you raise capital from Angel Investors or private investors, they're going to appreciate it that much more because they don't expect that and it looks so much better than everybody else's due diligence that they're going to just really appreciate it being so buttoned up and organized.

It's usually not going to hurt you that you're way more organized. But the institutions or family offices, you might get a chance to pitch one and if everything's kind of a mess, then you fumble the ball and maybe don't close that big credible partner, perhaps if you're not ready for that moment. So, um, so we're a couple minutes after four so apologize for that, just about 10 minutes over. But, uh, appreciate everyone's time and attention.

If you're a new member, make sure you do your new member. Walk through with Jennifer sometime. You can get that scheduled before you walk out. If you need help setting up a family office, you can speak with Laura. If you have any questions about the membership or the family office super Summit. That's the 5ifth to 7th in December.

More family offices on stage there than any other family office event globally held anywhere this year. 120 speakers on stage over three days. We just booked our super Summit for 2024. It's going to be at the Ritz Carlton on the island of cuases, 15 minutes from downtown Miami. We have the dates for that already. If you want to block that off, we have Beverly Hills booked already, fifth and sixth of March in q1 next year and we're just about to announ, announce, our May and October, early October dates for our two New York City based super Summits next year.

So we're going to have the full calendar for 20, 24 booked out here. In the next, like two weeks or so, all those dates will be on our website so you can kind of block them out. Make sure you don't get double scheduled. So thanks for your attention and time and hope to see you at the super Summit.

Thank you everyone.