#159 Mastering Entrepreneurship: Secrets to Business Growth & Leadership with Pete Mohr

0:00 From the heart of Dubai where tomorrow is being built today to the world, welcome to the CTO show with Mehmet. Here, we redefined technology and reimagine possibilities with mehmed delve into the riveting Realms of AI cybersecurity. And digital technology experience the thrilling highs and lows of startups. Immerse yourself in the spirit of Entrepreneurship and witnessed the future of business and evasion being written in real time. Now, without further Ado, let's tune in and explore the future.

0:46 Hello, and welcome to a new episode of the City Hall Show with mammoths. My name is Muhammad. And as, you know, in each episode, I cover different topics from emerging Technologies, like artificial intelligence cybersecurity and also we covered on the show, startups and Entrepreneurship, and anyone who's interested in starting a new business. And this is why today I have with me, Pete Moore, who's joining me from Canada, Pete, thank you very much for being with me on the show today as usual. Can I ask this question every time? Can you introduce yourself and What you do. Well, thanks so much for having me. It's just a real pleasure and, you know it I've been in business, almost all of my life moment and it's it it's a long time now.

1:31 So I'm coming up on 30 years of actually, oh my own business as I'm in my early 50s now and really started off right after University and I had little sort of startup businesses before that, but you don't want a full-time basis. I've owned Chai's, has I've own bathroom refinishing businesses. I've had cleaning companies, we've bought and built businesses. I was a business broker helping people buy and sell businesses along the way, which is how I found one of the businesses that I still own and we are we have been retailers since 2010. We own shoe stores in Canada here. And I spend most of my time these days helping other entrepreneurs what I call sort of transitioned from operators of their business to The owner of their business. And when you think of that in the framework, I mean as we're talking at for some new startups and everything, there's a certain amount of time where you just have to dig into it, right? And you just, you have to do it.

2:29 Mainly because a lot of startups aren't necessarily heavily funded, and they may be can't just hire everybody. They'd like to have. So the founder themselves typically has to dig in and do a lot of those things. And but there comes a certain time where it's like, hey, there's only so many hours in the day. And I do want to have a life and stuff like that too. So, when you transition, and you start having other people on board for you and working with you and assigning, and aligning accountability, and all that sort of stuff. A lot of times, that's where I'm starting to work with clients when they're, when they're sort of at the point of saying, hey, I can't do this anymore and I need I need to have a little bit of my life back, but there's all sorts of things that come before that and that's just normal for people that are starting up that first one to three years is Time.

3:17 Yeah, that's correct. And Pete. You have a would say, what? I was, paying a very, very interesting, like actually Journey. So you started by being a radio host and then you became an entrepreneur and then business coach, right? So, like, can you little bit like, tell us about this journey? Sure. You know, I grew up in an entrepreneurial family. My dad didn't own the business, but he ran a business which was a fairly large, heavy construction company. For many, many years for somebody who was a, an owner of several businesses. And, and he had key people in place, my dad was one for one of the businesses.

3:58 My mom was also entrepreneurial. She was a teacher, but which I think is where I get my coaching sort of him flavors, and how I like to work with people and all that kind of stuff. But she was also very entrepreneurial to. She was always doing things like when we when we were kids. She wasn't teaching any longer and she would make crafts. Apps and sell them and do different things. And just it was in her nature. A lot of my aunts and uncles are entrepreneurs and farmers and, you know, retailers in a variety of different things. So I grew up in a entrepreneurial Family essential and from that perspective, I've never really looked back. I consider myself a virtually unemployable and so I started off, you know, I have business degrees and stuff like that, but really I started off by digging into it and starting that first business, right?

4:46 And that first business was bathroom remodeling. We did bathtub refinishing and bathtub, liners, and acrylic Wall Systems. And we refinished kitchen cabinetry and all sorts of different things. Built that You know, I did the work like I said that first starting off you've just got to get in there and get your hands dirty and work through it. But as I got too busy to do all the stuff myself. I started hiring people adding trucks to my organization and building that business and I had that business for 13 years and I'm proud to say that it's still running 29 years later and it's going to celebrate it 30th Anniversary next year. And I know the person that runs it He's done very well since he bought it for me and enjoys a good life and I'm excited. I mean, looking back, it's interesting to see that thing that I started back in 1994 is rolling and doing so well, still to this day and along the way during that time, A lot of times Mehmet, I've owned a couple of businesses at one time I call, I can consider that sort of being a multi printer and like I said, my dad, I looked at my, the guy that owned my dick, the company, my Dad ran, and I was like, hmm, he's got this business. This business this business.

5:59 How does he do that? Nice and so I kind of looked at that, and I'm like, hmm, you know, when I was younger, I was thinking, I think I want to do that kind of thing. So almost my whole career, I've owned more than one business at a time with the exception of a couple of years there. And now I own a couple of shoe stores, but I also spend the majority of my time working with other business owners and helping them grow and build their business so that they can enjoy the freedoms that they want from entrepreneurship. That's amazing. Story. Actually, and the congratulation on, you know, celebrating this marks a milestone. Now in your opinion, Pete, what are some of the unique challenges young entrepreneurs face when they decide to start their business?

6:49 Well, the number one challenge is cash for most people. I mean, some people come into it and they're and they're funded and that's great but I would say Most people starting off their business. Cash is an issue yet managing the cash, understanding the cash seeing where the cash flows and goes is probably the most crucial thing to a successful startup because it can go so quickly. Yeah, one bad decision with an extreme amount of cash is the end of a business. And, you know, a lot of times, I think there's a certain bravado, I had it and it's cost me over time as well, you know, but there's a certain bravado as especially with younger people as they get into it in there like, hey, I got it. I know what to do.

7:44 I don't really need people's help. I don't really need a mentor. It's like, and My suggestion to somebody especially somebody young, but it's the same for somebody who's who's you know got a couple years under their belt, is to find a mentor that's been there. That's done that, do whatever you can do to because I'll tell you Most business owners. Want to see the Next Generation doing even better than themselves. Right? Most business owners want you not to experience the pain and the suffering that they have experienced and they're willing to share their wins and losses in order for you not to go through what they had to go through. Right.

8:37 I can add back the main reason why I decided to start. The podcast is exactly what you just mentioned people because I didn't have the chance to have mentors coaches. I didn't have the chance to. I love the, I would say the hard way, right? Yeah. And yeah, but and I think about it, like okay, what could have happened if I had these resources in front of me, Shoot. I could be in a much better place. I mean good place. Now I'm not saying I'm in a bad situation but yeah as you said like if we can help people in getting you know, guidance, avoid mistakes that we did, why not? 100%?

9:21 I really I love this one. Now, when you started, you know, introducing yourself. So you mentioned something, which caught my eyes actually caught my attention about balancing their time between working on their businesses. Nurses working in them. Yeah, tell me more. Yes, you know it's that idea of moving from operator to owner. Yes. You know, when you're getting started. It's hard to take time to work on your business because you have to do, you're doing doing doing. It's like, I'm the one, especially if you're the only one.

10:03 Like if I don't do it, nobody's going to do it. So I don't have time to do this. You know, the idea around working on your business, it doesn't matter what stage you're at. It doesn't matter if you're a one person show, it doesn't matter if you're a hundred or a thousand person business, as the principal, Whether you, whatever you call yourself, the CEO, the founder, whatever you want to call yourself. But as the principal owner of that business, if you aren't working on your business, a certain portion of time, you're doing yourself and your business a disservice, And that's, that's the big takeaway here.

10:45 Is that, I think how much time and I'm asking you the listener here, how much time are you spending working on your business? How much time? And when we say working on your business, I'm talking about like actually thinking about the future actually thinking about how this is going. Not just dealing with the present but because we all have to deal with the present as as owners of our Business. But thinking about, what are the ramifications if I do this? Or if I don't do this for my business and my life, because as the owners of our business, we get into business, not just to get, you know, build ourselves a job. We get into business because we want to have a better life and the idea behind this is that having full clarity around what you want out of your life?

11:38 And working on that and writing it down and thinking about it so that you're ultimately clear about what it is. You want out of your life will allow you the opportunity to build the business that supports the life that you want to live. Other than that, the business is just going to take on its own path and you're going to be guided by the business, instead of you guiding the business. Right. Right, I'm 2%. I agree with you Pete. Now also When I Was preparing, you know, like and really because I think you know, you have this long experience, a lot of things that, you know, I prepared to ask you about. So, I've seen you talk about four aces of accountability.

12:23 Can you explain a bit more about these and how young nurse can integrate them into their leadership style for sure? I I mean when I look at the at the forays, I like for F's and forays and for peas and I just like to wrap things in Frameworks and so that I can understand decision-making essentially, because one of the biggest issues that we have is as owners of the business is that there are just an abundance of decisions to be made, right? And until we can start, Letting go of some of those and assigning accountability will never be free. All right.

13:07 And so looking at the forays of accountability, That's that's the whole idea here is that if you want to be free and you want to release some of the accountability within your business to someone else, you can use these for is to help you do that and the for ASR assess it address it align it and assign it and if you think of anything let's just talk about something that we all have to deal with and some of us love it. I personally don't but it's bookkeeping. Hmm, so if you're a bookkeeper you probably love bookkeeping. But for a lot of small business owners, they don't particularly like, bookkeeping I'm good at it, I just don't like it. So from that perspective I would need to assess it address it align it and assign it if I wanted to take it off of my plate and hand it over to you.

14:05 So I'm going to assess what needs to happen. So, thinking about, what if I do this? What if I don't do this, the good and the bad? Lining that up addressing it. Which basically means I mean we can go into a whole hour long conversation about this but I'm giving you the very you know over should assess it address, it address, it is okay well if this were to happen and this happened in the good what would what would I have to fix? What process would I have to lay out here in order to make this happen and if it didn't happen, what's the bad part of that. Hmm and then align it is. Pending on your organizational chart, or as I like to call it, your accountability chart who's accountable for what, how am I going to align this into my organization and who is going to own this?

14:55 Which is the last piece, the assign it, right? So assess, it means what do I am trying to do address? It means how am I going to do it? I line it means. Where does it fit in my accountability chart and assign it is whose name is going to own this in the future. And so we that's how I'm taking something that I'm currently doing. And moving it over to someone else on the accountability chart got through that process and framework. So you know, cam continuing on this. So I've noticed that also people like you like to actually create that exclaim like business Frameworks, right?

15:37 Why this is relevant, you think for specially new businesses and fresh? Well, you and I have a similar sort of look on top of our head. And I'm a, yes, there's not much there. Okay. Yeah. What it isn't? Yeah. Well, because we've already pulled it all out. We pulled exactly. It's like we've been through this stuff and so how do I like why do I like to create Frameworks? And I have dozens of Frameworks that I use and I help my clients, you know? And I say hey, you know, I'm Not saying to use them but if if you like to use them then it's helped me and hopefully it will help you because when you start aligning these things and using Frameworks, it gets the craziness out of the entrepreneurial brain that always stewing in there and it gets it out onto a framework that makes sense. And then once you've got it onto the piece of paper, you're clarifying because Clarity creates confidence and confidence a tree.

16:43 Ignites action, right ignites, momentum. So you're now, you now have this out of your head because we procrastinate stuff and we stew about stuff and we wake up in the middle of the night, thinking about things, and until it's in a clarified way, it can't get out an action, be taken, so putting it on this framework. Now I've got this framework and saying, okay this is very clear as to if we use the accountability one about aligning and assign, it's very clear that I want to get rid of bookkeeping. For these reasons. Here's how I see it aligning in my accountability chart with the people that I have and where it needs to go. And now I can actually talk and I can literally show this sheet to the person that I'm going to talk to you about taking this over and say, Here's my thoughts.

17:31 What do you think? Right? And so once we get all the cousins, most business owners have all kinds of ideas, some of which they've shared with their team and some of which they haven't. But a lot of times when you do share it with the team's, it scares the heck out of them they're like I don't know where this guy is coming from and you know blah blah blah, and all the stuff in your and you're just thinking, hey I'm just talking out loud but you know, all of these things when you can put them in a framework that's easily understandable. All of the decision-makers and all of the people as part of the team that makes it clear and understandable, it gives them confidence to go ahead and do whatever it is.

18:12 You guys are going to need to do with this decision and hopes that it's an alignment with everything that you're trying to, you know get done within your business becomes. Like the compass for them rights, for sure. Yeah. So so there's like the Google Map for running the business. Guiding it's a guiding star. Right now, one aspect because sometimes I meet people who wish to be like you Pete. So they have ambitious dreams to not only run one business, they want to run multiple businesses and you have managed more than one business at a time for most of your career. What strategies would you suggest for entrepreneurs who are juggling multiple business ideas for projects? well, I mean if you actually have multiple businesses and you're finding it hard, I mean there's a lot of people that do but it's the one thing that's interesting is There's only so much time in a day, right?

19:22 There's 24 hours in a day. It's a box. You can't use more hours than 24 because that's what there is and you can't use less because that's what there is. So when you start understanding the Frameworks of how you want to live your life and your relationships, and your family, and your friends, and all of the other things, you're your health. If you don't, if you're not healthy, both mindset, Set and physically, you can't run a healthy business. All right, you know, and that's where people get the time. All of that box of time is used up absorbed into all of the things. They think they need to do in order to fulfill the business.

20:03 But they're not fulfilling some of these other areas of life. And so to me the best way of getting around that and working with that is having that Clarity what you want out of your business's right. And and then working them From the bottom up and the bottom up. I like to use what I call. It's one of the main sort of talks that I give around the five peas and the five peas. We gave the forays but we'll give the five piece. The five is are really understand your promise and align your products, your process, and your people to that promise, so that you can enjoy the right amount of profit and And the biggest piece in the puzzle of running multiple multiple businesses.

20:54 If we're going to Overlay that on to, it is having the right Process Management in place and having the right people in place to own the accountability. We started with accountability, but this is where it comes in. Because if you don't have the right process in place, then you can't align in the sign. The accountability because you don't feel as though you can let it go. All right, as the business owner you're like I can't let this go and what people will often say is I don't trust that person to get it done so I have to do it right. The problem is, is that On the people portion here of the five piece.

21:36 If you don't trust the person, why are they working with you in the first place? Mmm. All right, so usually when I hear entrepreneurs saying, I don't trust that person to get it done, it's not necessarily that they don't actually trust the person. What they mean to say is, I don't trust the process. Interesting. And they usually have to firm up the process. So when the process is good enough, they're like, oh yeah, that's good. I can now assign the accountability because it's not, they use the language around, I don't trust that person to get it done, but really if they didn't trust that person would that person still be working with the business. They shouldn't be. I hope they wouldn't be.

22:18 Yeah, you're right hundred percent Pete, don't you think? And you know like this Ward like trust and maybe about the Process. I want to ask you about the importance of communication here, like how entrepreneurs and specifically, young entrepreneurs should effectively communicate their companies promise as you mentioned, both internally and externally. Yeah, I mean, from a promise perspective, that's where it all starts. I mean. A lot of the companies that I that I start working with it's like, let's go back through the guiding principles your and so the promise just to kind of capture that a little bit. Yeah, the you know and most people will have worked out. Oh yeah, I know my mission and I know my vision and that's great. You know?

23:12 Your vision is sort of in my the way I look at it, your vision is sort of the long-range look of what you want from your business and from your life, the mission is a little bit more of a short-term thing. Like one, two, three years. This is These are our marching orders, right? But those both are mostly internal documents that you're going to use for yourself and your team in order to strategize and think about what you want to do, the promise is the opposite, the promise is something that you're telling the whole world about. If I look at you know one of the promises and you can have a couple different promises, one of the promises that I've already mentioned it. A few times with my company simplifying entrepreneurship is that I want to help you move from.

23:54 Peter 2 owner. If you feel as though you're tired of working like crazy and you're not getting ahead and all of these things and you're working, 70, 80 90 hours a week and you all have any time for any of the joys of life. Then that's my promise to you. Is that by using some of the stuff I can help you get to the owners box where you're the owner of the business and not Reliant upon every single decision in your business every day, right? Or at Utopia, with our shoe stores, our promises to help you look great and feel fantastic. It's very simple. Promise should be simple easily understood.

24:35 You know, owner to our operator to owner or look, good and feel, fantastic. You know, when you think about shoes, if you want to buy a pair of shoes, what are you looking for? When you walk through the doors of a shoes, are our shoe store? You want to look great? It's like one of you look in the mirror you're like oh I look pretty good and when you close your eyes, in those new pair of shoes, you like These feel, fantastic. Well, if I can deliver that promise with every customer, then I am living that promise. So, what I'm trying to do then is I'm trying to buy all the products that are going to help enable that promise. I'm going to align all the process that takes people through the Journey in order to give them that feeling. And I'm going to have the people in place that are going to help move that promise forward, so that I can enjoy the right amount of profit.

25:30 When I have the right amount of profit, I can go back to the forays that we started with and start aligning and assigning some other people because I'm going to redistribute some of that profit to take some of this stuff off my shoulders so that I can have more freedom as a business owner. All right, all right. That's really a very deep and guys like oh whoever you feel had watching or Listening to this. Like there's a ton of information here from Pete today. I'm really myself, listening, very, you know, carefully because really it's deep information. Please also, like, one thing I know you talked about is a concept called The Wheel of moment, which looks interesting.

26:13 Can you elaborate this concept and how it can help entrepreneurs maintain momentum in their businesses? For sure. I mean, we're going through a lot of Concepts here today. And sometimes it's like you said, it's a little overwhelming, but the idea here is that these different Frameworks of the different concepts here of mehmed is, it's really just to get your thinking through different issues that you might come up with. And when we're stuck at whatever glass ceiling, we're at, in our businesses, our inner lives, the idea is, how do we break through? How do I get through this area that I'm at and it always starts with clarity.

27:01 We've talked a lot about Clarity already in the first 15 or 20 minutes here. It's like everything's every business decision. Everything every bit of momentum starts with Clarity. If you're not clear the wheel has signed, that's why it's called the wheel. The wheel has stopped until we get clarity, it starts a little bit and we have more clarity, it builds even more. And when we have a lot of clarity, it starts to roll. And when we have the clarity of whatever that business decision decision and is lets Use the bookkeeper going to hire a bookkeeper. And okay, I've made the decision now based on this other stuff that I am going to hire this bookkeeper, I'm clear about that.

27:43 Now, I have to build in competence and confidence while how do I build incompetence? Well, if I don't have competence within my business, then I'm going to Outsource that or higher for it, right? So, it's the next natural step. And once I've got that, once I built the competence, then I've got the confidence. And the confidence to move this thing ahead. And sometimes we need to look for cooperation with that. Like I said sometimes you need to maybe go outside or maybe we talk about mentors, maybe I need to talk to my mentor and say hey do you know of any good bookkeepers? Because I can't find anybody.

28:24 I don't want anybody internally thinking about how we're keeping this wheel moving on. This particular, particular topic of hiring a book, bookkeeper, And they're like, oh yeah, you should go talk to Jim or to Jill and now you've talked and had you're feeling good about this. The next step is the capacity, right? And the capacity of this is I now have a bookkeeper and I have the capacity. So we've talked about process and stuff like that in the past. So I'm now going to align an assign this area of my personal job that I no longer want to do and give them. Because we have the capacity now because when we started this conversation we didn't have the capacity, all right? And it's only until I have the capacity that I can align and assign that to this new bookkeeper. And what does that do?

29:16 That allows me my time back and when I get my time back, this is interesting. It's when I can be creative again because when we're maxed out with everything, That we're doing as the business owner, we tend to lose time to be creative to work on the business, like we talked about, right? It's that, it's the time. We always let go, we let go of our creative times in order to do these things that we feel we need to do, and sometimes we do need to do because there just isn't any more time, but until you can build the capacity in order to unleash some of that stuff, you can't have time to be creative and what does that start?

29:58 Art. Clarity of the creation and it starts the wheel again, and you go through the wheel again, right? So this is Clarity competence confidence, cooperation capacity and creativity. The six C's that role you through into the next creative moment within your business. And you know what, maybe the next creative moment is now I need to, you know, get rid of something else off my play. Or maybe it's, I want to start a new business or maybe a I'm thinking about doing, you know? A trip to Kilimanjaro to climb a mountain. It doesn't really matter what it is but in order to do that, you got to go through this process and free yourself up of the time and the decision-making and the accountability in order to allow yourself the opportunity to use some of that bucket of time for something else that you want to use.

30:49 Perfect light as well coming little bit to to the end. There's one thing because you mentioned out because rice we have the clarity so we can get someone and then we can you know delegate right? Some of the tasks now here and I'm thinking about someone who started a business. Maybe they were solopreneurs. Maybe they were like two or three guys right at some stage. The team store will start to grow and here where we will need to have some Leadership skills, right? So what are in your opinion, the key leadership skills that you believe, every business owner should master in order to have a successful business.

31:34 So, in leadership, Mastery, I've got I call it the CPA and the CPA is not your certified professional accountancy. I know we've been talking a little bit about bookkeepers today, but yeah, it's, it's Mastery in these three things and I think for anybody who leads a team or a business, if you master, these three things, you will, you will do well and they are Mastery of communication. Mastery of Process Management and Mastery of accountability, all three of which we've talked about here today. All three of which are vitally important in. How are you communicating and communicating with Clarity?

32:17 How are you aligning your process? How are you communicating your process? And we've talked about using Frameworks and we've talked about some different things there too. How are you communicating the process? How does it align to your promise? So that you can assign accountability. and if you're stuck or stopped in your business, it's usually because you're feeling as though, you can't assign accountability, and sometimes we assign accountability, by the way, to an automation. Right. There's a lot of automations out there that can take give you back a lot of your time, right? It doesn't always have to be to a person because if you have a process in place that an automation can tackle for you, let that happen.

33:04 Because quite honestly if there's an automation that can do it, it's going to do it right every single time, right? So that's the beauty of technology and I know this is the CTA is CTO show. So it's like when we think about the technology side of things that's why I love automations as and I use them as much as I can. Because every time once that process is in place in it and it's almost perfect or is perfect, it's going to happen for you without your involvement. Don't you've assigned accountability, essentially to an Automation and that's a beautiful thing. Not only for you, but for your team as well. Right? Actually Pete, we have covered this. What time and it's good luck. You reminded us about, you know, how automation can even, you know, allow people to free up their time. They would be, you know, they can be just laying down on the beach, you know?

33:58 And there are some boats doing the job for them. Yeah. So that's that's really cool before we and, you know, I have a nowadays, very famous question that I decided to come up with the, it's not like a creative one but, you know, it's a fun question that I end up with the question is, what is the question? You wish that I asked you and how you would answer it? You know. I think we've had a great conversation and ultimately when I when I look at this, when I look at shows like this and these awesome conversations, I think the questions come out throughout the conversation of what stop of mine and most interesting.

34:44 And I don't know that there's meat, we could go into so many different areas, here mehmed short hours, but I think the big thing here that we can have as a takeaway Is that will ask the listener? This question. What is it that why did you get into business? And what were the freedoms that you wanted, that you weren't getting before you got into business? And I think that's a interesting question for everybody listening here, because if you're thinking about getting into business, are you thinking about getting into business just to, you know, because you Not like working for the current person that you're working for. Is it is it are you?

35:31 Are you getting into business to escape something? Or are you getting into business to help people and to follow a dream? And because you have a bigger purpose because I think the second one is the one that's a lot more interesting and will guide you to a Better Business overall because if all you're doing is getting in business to escape something that you're currently in. So I asked the listener that question for those of you who are looking at getting into business, you know, don't get into business, just to escape something that's the wrong reason. And the right reason is you're getting into business because you see a better future for your clients, you understand, the pain that they are going through, you feel you can help them get through that.

36:16 Like we started off with, we started off with that idea. It's like, you know what? I don't want other people to go through some of the issues that I've had to go through. And I want to help them through that because it's in me to want to help people have a better life through their businesses. That's amazing and it's like reminds me of, you know, everyone I didn't I think you're they should know about the famous start with Y, right? Yeah. Sure. My Simon select so great but I'm a great believer in this. And actually, it's an eye-opener. Not only for me, I've seen a lot of people who completely actually.

36:57 They were able to find what they are passionate about. What's their purpose actually. It's not like gold, its purpose. What do you want to do? You know, in this world? Be just one thing II just remembered. So where people can find more about you and I know that you have a coaching program. I did. Well, yeah, so the easiest way. My, my business is called simplifying entrepreneurship. I know that's a long but that's what it's called simplifying entrepreneurship. So if you Google simplifying entrepreneurship, you'll find me. And my name is Pete, more ammo HR and if you Google that name, Umm, you'll probably find all kinds of stuff. Great podcasts.

37:37 And also, I also have a podcast called the business. I wanna recruit too nice though. Yeah, great. So, what I would do and this, I do with all my guests. So in the episode details, they will find the link to your website and they can find the podcast there. And if someone wants to connect with you also on linking in or his soul. You know, that would put all the links there. Well, you know, I really appreciate the time today. Want to say something I was just going to say, one of the things that I recently did was and it'd be good. Maybe for this conversation, I created something called the ten laws of moving from operator to owner, and it's available on my website to at simplifying entrepreneurship.com forward, slash laws, L AWS.

38:23 And basically, it's just sort of 10 different ideas to think about whether you're whether you're starting to get into business or whether you're already in the business, to think about how to frame work yourself. Elf and to move to that owners box. Good night. That link will be there also, as well for the audience, Pete, I really am. You know, I appreciate the time you took today. I really also I enjoyed tons and tons as you set of information you shared today, especially from someone who's like me as well. And I work for people who are like listening. Now, what are these guys doing about? Yeah, we we are both bolts so that is what we're talking about. Yeah, we lost our heads, just With experience.

39:05 So thank you again for the time and appreciate, you know, all the information and all the knowledge that you shared with the audience today and this is to my audience, I repeat this every time. If you have any question, any feedback you can reach out to us to Pete all myself about this topic. And if you want to suggest something, don't hesitate to reach out to me by email, LinkedIn or Twitter, where I'm more active. And also, if you are watching, this is the first time on this channel. Please Subscribe or back to get good content for you to help you down the road, whether you are establishing your business, whether you are today and executive maybe who's beaming of how I can have my own business, how I can be a start-up founder. So this show is for you.

39:54 Subscribe, tell your friends, tell your family, that your colleagues about it. If you are listening on your favorite forecasting platform. Also don't forget to subscribe to the podcast. Available on all the podcasting platforms of your choice. And if you are interested to be a guest same as P, today, I would love to discuss this. If you have a brilliant idea, you want to share with the world, I would love to share it on my show and you again, you reached out to me by emailing than or Twitter as I said and my famous phrase are done until we meet in the next episode. Stay tuned. Thank you very much and we'll see you very soon. Thank you.

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