Roland Frasier | The M&A Strategist Who Saw AI Coming Before ChatGPT Launched

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In November of twenty two, was it I think that
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OpenAI rolled out chat GPT. I knew it was a
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game changer from the day it launched, and so I
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just decided, this is something I must know, I must master.
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This is the future, this is at least as big
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as the Internet. And so it was a combination of
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curiosity and prior experience and an absolute knowledge and certainty
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that this was going to be a giant thing that
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caused me to want to really, really be all over
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it right from the beginning.
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Rolland Frazer is a legendary investor and m and a
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strategist where it's completed over one thousand acquisitions and exits
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across dozens of industries. He was programming computers at twelve
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years old, which positioned him to spot the AI revolution
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long before the rest of the market caught on. Today,
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he's integrating our official intelligence into every layer of his
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business portfolio, using busts to generate campaigns, analyzed financials, and
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write letters of intent in seconds. In this conversation, we
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explore how to cut through the noise of tech panic,
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deploy augentic AI to scale your operations and precisely where
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the software ends, and the irreplaceable power of human connection begins.
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My name is doctor Fleet Maull, your co host for
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this session, and I'm really thrilled to be here today
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with friend and colleague and business mentor Roland Fraser. Welcome, Roland,
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Thanks Fleet, good to be here. I appreciate the opportunity. Oh,
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it's great to have you and to begin with well,
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and I wonder if you know, you could say just
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what was it about your entrepreneurial journey? I know, from
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what I know of you, you're a recovering lawyer, and
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later you got into what you're into.
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Now, the many things you're into now.
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But what was it about that led you to be
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I think to say you're an early adopter and AI
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is really a gross understatement. You're an early advancer or something.
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But what led you to, you know, be prepared with
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the entrepreneurial mindset and experience they had you just jump
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right on that in such a powerful way.
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I mean, I go way, way way back. The first
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computer I had was which really dates me, it's terrible,
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but I had I think it was a TRS eighty.
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Then I had a Commodore sixty four. I went from
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like four K memory four K not four megs, four
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k not four gigs for sure to forty sixty four.
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Then I got a Lisa, then an Apple two I
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think E, and then a Mac. So I was there
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kind of as all of that was evolving. And so
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I learned Basic when I was about twelve years old,
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program in Basic, and then got into Pascal and Kobal
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and then HTML and you know, all of those things.
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So I've got a pretty good background of being a
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not very good coder but terribly curious about it. And
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so that, like, I think that helps a lot in
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that I you know, I've built computers, I've programmed computers.
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And when in particularly in November of twenty two, was
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it I think that that open Ai rolled out chat GPT.
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I knew it was a game changer from the day
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it launched, and so I just decided, this is something
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I must know, I must master. This is the future.
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This is at least as big as the Internet. And
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so it was a combination of curiosity and prior experience
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and an absolute knowledge and certainty that this was going
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to be a giant thing that caused me to want
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to really really be all over it right from the beginning.
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Wow, I don't think I was that aware of the
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techi background do you have. It's amazing besides being this
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lawyer of successful business strategist, I'm any expert, a musician
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and an accomplished musician, that you also have this strong techi background.
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That's amazing. But that did really step you up to
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recognize what the opportunity was here or the inevitability and
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then jump on that. So for entrepreneurs, our audience showed
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the holy A. I think could be pretty daunting. Moving
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so fast, yeah, and there's so much noise, and there's
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a million tools and saas's and this and that, and
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you know, everybody's probably thinking, if you're not like almost
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on this full time, you're already behind the curve and
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your competition's ahead of you. And it can be pretty
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daunting and scary and confusing. And so how would you
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suggest entrepreneurs at least begin or get a foothold. I mean,
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obviously you can't ignore it. It's not going away, and
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in fact, it's an incredible revolution. So how do we
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get through the noise and beyond our own fear and
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kind of get started?
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I think it's a really great question and it depends
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on how well you do with a fear of breaking things.
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It's like, there isn't really anything that you can do
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on the major AI platforms that will break your computer
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or break the AI. So if you're open to exploring,
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that has a lot to do with it. If you're
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curious enough to research, I think that's more. If you
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you need to take a basic course, that's fine. I
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will say that, like right out of the box, Google,
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Gemini Anthropics, claude X's GROCK, and open AI's chat GPT
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are all really friendly, easy to interact with versions of
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you know of AI. They're basically you know chat platforms
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for AI that will just act as an advisor and friend.
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And even if you aren't an expert prompt engineer somebody
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that creates the information that you put in to get
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back the best results that it can deliver, you still
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can just in plain English have a conversation with the
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AI and it will be tremendously valuable for you. As
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you get more into it, you can decide do I
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want to be a casual user, a power user, or
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a programmer. And then in the programming level, there are
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a couple of different levels as well. You can build
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miniature apps, which we've built quite a few of within
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different platforms, Like there are GPTs within Chat GPT that
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are little mini apps that you can build in program
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that really act like apps or software. And then you
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can get into more complicated where you actually have to
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use code within it. So I think it's like where
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do I want to be? And I would just say
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start as a casual user and don't put the pressure
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on yourself to say I'm so far behind or anything
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like that. Every journey begins with a single step, right,
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So take that first step and just have a conversation
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with the AI about anything that interests you and get
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comfortable with that interface and that conversation. And then after
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you get comfortable there, I'd say, think about what you
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might use it for, if we're speaking business wise, what
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you might use it for in your business. And like,
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we know a lot of people in the hospitality space,
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and so one of the early demos I did for
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one of the chefs that's a good friend of mine,
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was to take the ingredients that the chef had and
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basically say, create a creative Michelin Star heavily spiced and
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flavored meal in a particular theme. I forget what it was.
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I think it was a cross. I think it was
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like Mexican Asian fusion. And it designed a full multi
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course meal using all these spices and these combinations. And
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I said in the prompt, you know, use unusual but
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complementary combinations of spices, and the chef looked at I
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was like, oh my god, that that's amazing. I would
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have never thought to combine this with this, And so
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that was very simple. And that was way before I
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know all the things that I know now, But like,
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that's a good example. I think of how to use
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it in your business. And I have our pickleball pro
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here at where I live, said the other day, I
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didn't know what to text this difficult member that I
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was having a hard time with, and I just put
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in a chat GPT, I have a difficult member at
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the club where I'm the pickled doll pro. We're having
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a problem with X. Write me a text that I
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can send them. And it did and she was able
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to send it. And like, those are very basic but
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very helpful applications, and so I'd say that's the place
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to start. Where you can go from there is limited
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as with most things by your own you know, desire
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knowledge and creativity.
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That really helps a lot. And you pointed to the
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user friendly quality of these interfaces. They're amazingly user friendly.
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And even that question I posed to you, which you
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gave a great answer to, you could ask that question
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to chat, YOUBT or any of these platforms and you
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would probably get some interesting answers, and you could do
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a follow up question and you know, and you can
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in terms of your learning to do prompts, you can
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have one of these platforms teach you how to improve
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your prop writing, right, yep, absolutely, Yeah, So I know
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one of theirs. I mean, you've really gotten into applying this,
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I think in every level of your businesses. But I
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know one area that I'm familiar with is content creation
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all the where, from you know, creating email copy, to
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creating blogs, to creating avatars to deliver that for video content,
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even the possibility of a full blown podcast that was
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all generated by AI. So I wanted you to talk
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about your experience, and because content marketing is really really
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important in our world today where so much marketing happens
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online and we've got to build audience and build brands.
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So content marketing is really incredibly important and boy as
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AI made it easier and more efficient, So could you
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talk about that.
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Yeah, So just all the things that you mentioned are
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things that we've done, you know, run experiments, trying everything
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from writing newsletters to and leaning heavily on AI to
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sales letters, to complete courses, to interactive podcasts with multiple
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interviewers and responders and then AI generated voices where they're
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asking each other questions that we're generated by the AI
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and then publish that to iTunes on our business Launch podcast.
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So it's very capable of doing that. The challenge is
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the content is pretty generic unless you are skilled at
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pulling out deeper things, so like just asking AI to
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you know, if you go into chat GPT and say,
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write me a sales letter to help me sell evyond Water,
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then that's going to be very vague. As you get
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more and more familiar with AI, your content is going
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to improve, and you are going to find that the
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best content is through you interacting with the AI chatbots
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to help you create better content. So it's like I
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look at it as it's a spare brain that remembers
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everything that you can draw on. But the more applicable
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the questions that you're asking to help it generate the
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content the better. And typically, you know, the framework is
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generally you want to give it a role so that
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you can say you are Like in this case, if
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I was writing a sales letter, I'd say you are
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a senior copywriter at a major advertising agency, and then
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I would say specializing in whatever the product was. In
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this case, i would say consumer packaged goods and in
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particular water, and you've got twenty years experience. And then
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give it as much information as you can and then basically,
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what are the actions that you want it to take?
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You know, I position the client. Your client is a
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company that retails water that is drawn from pools of
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water in France, and your market is and then like,
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the more information that you give it, the better. What
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I played with also is asking it to ask me
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the questions that it would need to know to perform
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the task. So basically I'll assign it the role and
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then I'll give it the goal. My goal is to
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write a sales letter blah blah blah blah, and then
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I'll give it actions, which would be ask me questions
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to give you all of the information that you would
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need to create a sales highly converting sales letter to
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the target audience of and then it would be the
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target audience that I would specify. So, like that detail
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in the prompting, my prompts are typically hundreds of words long,
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because that's going to get me the best response. And
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I want to interact with the AI instead of just
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talking at the AI. So rather than just giving it
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that long prompt and then saying, now write me my
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sales letter, I'll basically say, ask me all of the
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questions that you need to ask to know better. I'll
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also give it frameworks and expected format for the content
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that I want. So I'll typically, in this case it's
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a sales letter, I would say, draw upon the framework
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that Gary Halbert wrote, and the framework that Eugene Schwartz
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uses in his book, and Claude Hopkins uses in his book,
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and the Robert Collier letter book and David Ogilvie, and
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take the best of plus best practices that you've learned
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in your experience and create a sales letter that is
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similar to the following. And then I'll paste in the
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format of the sales letter I want, and then that's
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going to get me a really good response. But then
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I'm going to get the sales letter and there're going
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to be a lot of parts of it that aren't fantastic,
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and so maybe it starts with the headline, and so
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then I'll start basically saying, Okay, the headline's okay, but
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I don't think it's the strongest it could be. And
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then I'll have a whole other prompt that is about
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the headline, and then have it generate multiple headlines. And
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so it'll take maybe four hours still for me to
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create a sales letter, but the sales letter is going
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to be pretty dagon good compared to how long it
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would have taken me had I done it myself. And
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I'll even use like I'll have it search its data
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set and say, okay, you know this product is a
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pair of reading glasses. Okay, so go on Amazon or
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search your data set that includes Amazon reviews for five
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star reviews of the best selling reading glasses products and
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the worst and take the points that were referenced as
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the most important to the five star reviewers and include
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those bullets in your sales copy, and then look at
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the things that created one star reviews that work the
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biggest complaints and address the biggest complaints as objections to
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overcome purchasing our product. That's the way to use it
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to me is is it's a collaboration. There's all the
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tools we can talk about too, but like when you're
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just straight up using the you know, the big major
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AI chatbot providers, it's gonna, you know, like you're gonna
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get out of it what you put into it. And
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so if you use it as a collaborator and you
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are really coaching it along for what you want and
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being creative in you know, what data would it have
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access to? Given that it's got pretty much all of
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the Internet inside it and now that it's capable of
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searching or at least some of them are, that's going
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to get you the best result.
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What if transformation isn't just about thinking differently, but feeling differently.
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Clip the link to learn more and start your journey today. So,
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a couple of things you brought up early on with
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chat GBT. I know I was, and on my team
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and myself, we're creating some bots or gbts with specific
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knowledge bases, and so we're dumping a lot of stuff
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into them, and one was for marketing, so we're putting
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in some of the stuff you referenced in there. But
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today I get this sense you don't even need to
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do that so much so it's really up to date
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accessing all this knowledge without you having to create a specific,
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separate bot with a separate knowledge base.
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Is that the case or yeah, it's really just directing it.
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What I'll do is typically ask it, Like let's say
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I'm doing my podcast. I'll say, are you familiar with
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the podcast Business Launch featuring rolland Frasier and Ryan Dice,
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And it'll say yes, and then it'll tell me something
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about it, like Okay, well, now it's kind of top
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of memory. I do want to kind of confirm that
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it's got that. And same thing if I'm using a framework,
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like I'll say, are you familiar with the six Sigma framework?
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And then it'll say yes, and then I'll start asking
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it questions about that or say using that framework, you know.
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Or if I was referring to my podcast, I'd say, okay,
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I'm trying to research topical ideas for the podcast look
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at the news for the last two weeks, and I'll
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turn on the search feature look at the news over
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the last two weeks for topics that would be similar
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to the titles of the last one hundred episodes from
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the Business Launch podcast and give me ten topics that
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I could talk about for my podcast today and it'll
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actually come up with pretty good like I did it yesterday,
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I think, and it gave me. Out of the ten,
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there were three that were really really good that I
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then deep dove into and you know, and we did.
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We already did one podcast on one of the topics.
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That's great. So yeah, I like, you know, the collaborative
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nature that you're pointing to, and I think one of
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the companies I don't know to use it micro talks
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about your copilot, your wingman or something. I mean, you
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can really have it there. And of course people are
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starting to use it just for their personal lives as well.
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Right you have it on your book, especially Gemini and
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things like that. You can use it in that way.
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So with content marketing, one thing that I found fascinating,
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I know you created the last time I was aware
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of this, you actually had to download this on your computer,
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but you had set up some kind of framework for
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writing a book where you had multiple editors going back
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and forth collaborating on editing a book. In some way.
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You can probably describe it better than that, but it
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was pretty phenomenal when I remember you were developing that.
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Yeah, that is where AI is headed, and that is
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why AI is eating software as a service. So software
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as a service, I think, which I believe is a
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one point three trillion dollar industry, will very likely at
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least significantly be replaced by AI agents. And so what
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you're talking about is where we get several different iterations
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of AI that have different forms of expertise that collaborate
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with each other without us being involved to create the
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desired end result. So for book writing, I'm probably going
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to have a researcher, a subject matter expert, an expert writer,
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an editor, you know, maybe a reviewer, maybe you know,
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a formatter, and I'm going to have all of those
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as individual like little mini people, but they are effectively
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think of them as individual applications or individual bots. And
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then those agents will actually do their tasks and collaborate
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with one another. So the research going to go out
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and research the stuff that's going to be researched and
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then give it, give that information back to the writer
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that's going to write out the initial text for then
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the editor to look at and the fact checker to check.
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And they're all collaborating without you ever having to do
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any of that, whereas you used to have to put
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in separate prompts for all of that. And it's still
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too complicated for the average person to do that right now.
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But that is going to end within the next year
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or two for sure, and that's where it's headed. And
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if you are like a programmer that has you know,
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almost any kind of software as a service, you've got
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to be worried because you don't have to program anymore.
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You just create little agents and the agents do the job.
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And there's going to be probably agent stores where you
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can buy agents that you can then basically have on
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your team to do the things that you want or
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maybe you know they'll charge for them, but it's pretty
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cool what you can do. So like having an actual
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book that is decent, not probably going to write a
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best seller, but decent is very doable now. So if
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I was you know, if I was a ghostwriter or
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an editor, I might be a little bit nervous at
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this point.
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So you're referencing, you know, for those of us who
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are still trying to catch up, you know, we've maybe
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we've heard of generative AI, and that has a lot
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to do with this content creation. But now you're referencing
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what I think it's called agentic AI. Correct, you're creating
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these agents. So these these agents are actually separate, like
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if it was unopen ey that it would be a
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separate GBT that was created.
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So yeah, Like I think of them as many apps, right,
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little mini apps.
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And they have their own knowledge base which you add to.
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So one of the most immediate uses of this that
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I think for a lot of businesses is in customer service,
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right at least the initial level of customer service. And
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we've all seen that. We've all seen it on websites.
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We've visited whether it's a chat function and sometimes it's
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not very helpful, but it is getting to the point
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where you could have a GBT customer service agent that's
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going to be pretty darn helpful.
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Yeah, And so then we're currently I don't think the
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like the chatbots themselves aren't ready yet to do that.
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My guess is that they will ultimately kind of be
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able to do everything, but right now, we use extra
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software to do that. So there are applications like VAPPI,
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VIAPI or Delphi that will allow us to engage with
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our customers so Delphi allows you to upload millions of
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words of content in the form of books and PDFs
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and podcasts and videos, and so like, I've got a
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Delphi of me that is able to answer all of
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the questions that people have about acquiring businesses or consulting
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for equity or exiting because all of my books on
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those subjects, all of my podcasts, all of my videos,
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all of my speeches and presentations, all my powerpoints, all
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my notes have been uploaded. And so there's millions of
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words that I have created that have all been sucked
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into this Delphi, which is basically an image of me.
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I mean, it's like this video and you can have
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a video conversation with me. It's still a little clunky
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in the in the video, like it'll be kind of
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like that, like you're you know, because it's only recording
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a few minutes of you and then creating an AI version.
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But now my customers can talk to the video version
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of me via video chat. They can do it by text,
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they can do it by audio, they can do it
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by phone call, audio online or a phone call. So
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now they can call and say hey Roland, you know
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rolland a AI rolland hey AI Roland. I'm interested in
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buying a business, and the seller wants too much for it.
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What are some strategies that I could use to negotiate
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to get them down to be reasonable and then way
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better than I could do it. My DELFI is looking
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at all of the data at one time that I've
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given it, and it's going to give a pretty dagon
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good answer. So that's like for customer service. We're using
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that in our tax practice. So we have a company
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called Prime Corporate Services, and Prime has a company called
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Insight that does tax returns for people, and we do
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tens of thousands of tax returns for people a year,
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which creates this huge amounts, especially at tax time of
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customer service traffic that we would have to have hundreds
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and hundreds of people to be able to answer, and
439
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we don't have hundreds and hundreds of people. But people
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want answers right now today. So using this customer service
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based AI, with Delphi and some other RPA robotic process
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automation that we have, we're able to actually handle an
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unlimited amount of inbound calls and give answers immediately, and
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even personalized answers that can draw on people's accounts if
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they have passwords to get to them. So like, that's
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kind of amazing and really changes the game to get
447
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people the information that they want from your company and
448
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interact with them. And then we also use it for
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outbound customer service with VAPPI, where we're creating outreaches to
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follow up with people and see how they're doing. But
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not just an email auto responder follow up, an interactive
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follow up that asks questions, receives data, and provides answers
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or action steps based on the context of what people say.
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So like, that's definitely been a game changer. So for email,
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telephone and video or online support, it's definitely been a
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big deal for us.
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And so I wanted to talk to you about automation
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and service of scaling, and you're giving a great example there.
459
00:25:32.240 --> 00:25:35.200
Now what about I'm just curious you have a legal background.
460
00:25:35.599 --> 00:25:38.759
Now with just customer service, your customer service is either
461
00:25:38.799 --> 00:25:41.559
really good or mediocre or it is terrible, and you
462
00:25:41.559 --> 00:25:44.000
know people can be happy or unhappy with that. But
463
00:25:44.200 --> 00:25:46.920
if you start giving people information it's of a legal
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nature or an investment nature, how do you manage the
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quality control with a gentkai and avoid getting in trouble
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or do you have to put all kinds of disclaimers
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in there that this is not actual legal advice.
468
00:26:00.599 --> 00:26:03.559
You do, Yeah, I think it would be unwise to
469
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let because AI still hallucinates and makes things up. So
470
00:26:07.319 --> 00:26:09.279
I think it's you know, you have to warn people
471
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that is something that AI does and that if they
472
00:26:12.839 --> 00:26:15.160
were taking any action, you know that it can provide
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general guidance and information, but with respect to you know,
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legal advice, medical advice, financial advice, or anything else like that,
475
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you should consult your actual practitioner, your licensed person and
476
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have a direct conversation to verify the information. So it
477
00:26:33.200 --> 00:26:37.319
can be you know, kind of like general informational guidelines
478
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as to what's going on in your situation, but you
479
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shouldn't rely on it.
480
00:26:41.920 --> 00:26:44.240
Well, one of our speakers suggested it today, if people
481
00:26:44.279 --> 00:26:46.440
have had the choice of hiring an in house console
482
00:26:46.920 --> 00:26:50.039
or hiring a young person really good with this AI stuff,
483
00:26:50.039 --> 00:26:52.119
he'd probably go to that direction. Now, you probably want
484
00:26:52.119 --> 00:26:54.440
to pass up in front of an actual license attorney
485
00:26:54.440 --> 00:26:57.079
at some point, But all the grunt work of creating
486
00:26:57.079 --> 00:26:59.400
the contracts and creating the briefs and doing the doing
487
00:26:59.759 --> 00:27:03.240
all that can be done by AI today a lot
488
00:27:03.279 --> 00:27:04.880
of legal assistance out of business.
489
00:27:04.880 --> 00:27:08.880
Probably, yeah, it can, but it's not yet, at least
490
00:27:08.960 --> 00:27:12.880
I haven't seen it yet to the point where it
491
00:27:13.039 --> 00:27:17.079
understands the strategy or is able to receive the information
492
00:27:17.920 --> 00:27:21.039
or ask for the information that it needs to replace
493
00:27:21.079 --> 00:27:23.680
something like that. And it's interesting you choose that particular thing,
494
00:27:23.680 --> 00:27:26.119
because we're in the middle of hiring general counsel for
495
00:27:26.160 --> 00:27:28.720
one of our companies right now, and if I was
496
00:27:28.799 --> 00:27:31.880
choosing between those two things, I absolutely would not choose
497
00:27:32.279 --> 00:27:35.039
someone who didn't have a legal background. If you chose,
498
00:27:35.559 --> 00:27:38.880
you know, somebody who had at least graduated from law
499
00:27:38.920 --> 00:27:41.599
school and passed a bar and they were using that
500
00:27:41.680 --> 00:27:45.440
to consult with, that could be helpful. But it's still
501
00:27:45.519 --> 00:27:48.599
not yet to the place where like like, I would
502
00:27:48.599 --> 00:27:51.240
put my contracts up against those contracts anytime, and I
503
00:27:51.240 --> 00:27:54.599
would be thrilled to get the opportunity to negotiate against
504
00:27:54.640 --> 00:27:57.319
somebody that doesn't know anything about the law and chat
505
00:27:57.319 --> 00:27:59.920
GPT At this point. I might not, you know, a
506
00:28:00.079 --> 00:28:02.160
year or two from now, but right now, I don't
507
00:28:02.160 --> 00:28:03.039
think it's there yet.
508
00:28:03.240 --> 00:28:05.240
All right, great, well you heard that from Roland Praiser,
509
00:28:05.240 --> 00:28:07.200
and that's good advice. Because Rolland has been involved in
510
00:28:07.240 --> 00:28:09.200
a lot of business deals and he is a lawyer
511
00:28:09.559 --> 00:28:12.799
in his original background. So, what are some other examples
512
00:28:12.880 --> 00:28:16.559
of how you're seeing AI can help entrepreneurs scale their businesses.
513
00:28:17.039 --> 00:28:20.480
I mean, it's the biggest thing. You kind of alluded
514
00:28:20.519 --> 00:28:26.440
to it that you don't necessarily have to be dependent
515
00:28:26.599 --> 00:28:29.480
on as many people as you did before. And so
516
00:28:29.759 --> 00:28:31.839
I feel like what we used to do is something
517
00:28:31.880 --> 00:28:35.960
called a super employee, where a person who is in
518
00:28:36.000 --> 00:28:42.079
a role gets assigned an inexpensive overseas worker who will
519
00:28:42.119 --> 00:28:45.839
be their assistant or kind of like their extra set
520
00:28:45.839 --> 00:28:49.359
of hands. And so, if you know you were on
521
00:28:49.400 --> 00:28:52.599
the executive team, then you would have a worker or
522
00:28:52.640 --> 00:28:56.839
two that were basically executive assistants, but they're kind of
523
00:28:56.960 --> 00:28:59.920
multiplying your powers, and I don't know that you need
524
00:29:00.119 --> 00:29:02.880
those people as much anymore. And I think that the
525
00:29:02.880 --> 00:29:05.920
people that you have can be significantly more productive and
526
00:29:06.000 --> 00:29:10.519
effective because they have this built in coach. And so
527
00:29:10.839 --> 00:29:13.640
I think educating the team that you've got on how
528
00:29:13.680 --> 00:29:16.960
to get the most out of AI and how to
529
00:29:17.039 --> 00:29:22.559
have it be a supplemental brain research assistant executive assistant
530
00:29:22.599 --> 00:29:25.680
for them is a really smart thing to do. And
531
00:29:25.759 --> 00:29:29.240
so in scaling the business from a what are the
532
00:29:29.279 --> 00:29:33.960
resources that are required to scale? They're significantly less now
533
00:29:34.000 --> 00:29:38.920
than they were. One copywriter can create the work of
534
00:29:39.000 --> 00:29:44.079
three to five now, and so we need significantly fewer employees,
535
00:29:44.799 --> 00:29:48.839
but employees that are skilled with AI to help us
536
00:29:48.880 --> 00:29:54.240
scale our businesses significantly faster. Other thing is the elimination
537
00:29:54.640 --> 00:29:59.480
of repetitive work using a form of AI called robotic
538
00:29:59.519 --> 00:30:03.039
process automation or RPA. And so I'll give you back
539
00:30:03.039 --> 00:30:07.480
to our tax practice. We get tens of thousands of documents,
540
00:30:07.519 --> 00:30:11.559
if not hundreds of thousands, that are uploaded by our
541
00:30:11.599 --> 00:30:15.440
clients as we're preparing their returns. And what we used
542
00:30:15.480 --> 00:30:17.960
to have to do was go into this portal and
543
00:30:18.400 --> 00:30:21.200
look at all the documents and then either have them
544
00:30:21.319 --> 00:30:25.480
scanned or have the people who are the data entry
545
00:30:25.519 --> 00:30:28.920
people take the information off of those documents and transfer
546
00:30:28.920 --> 00:30:31.440
it to the software that prepares the first version of
547
00:30:31.440 --> 00:30:34.880
the tax return. So now we've automated all that, so
548
00:30:34.920 --> 00:30:40.200
that a bot, a robotic process automation bot, goes into
549
00:30:40.240 --> 00:30:44.720
the portal, logs in, gets the information the customer uploaded,
550
00:30:45.119 --> 00:30:48.799
connects with the software that does the tax return, extracts
551
00:30:48.839 --> 00:30:51.599
all of the needed information, puts it into the right
552
00:30:52.200 --> 00:30:56.319
form and form, spaces, sums the things that need to
553
00:30:56.319 --> 00:30:58.480
be added, subtracts the things that need to be subtracted,
554
00:30:58.799 --> 00:31:02.640
and then all of that data entry work now happens
555
00:31:02.680 --> 00:31:06.200
in seconds that used to take days, and it happens
556
00:31:06.240 --> 00:31:09.759
without an employee that calls in sick, that's having a
557
00:31:09.799 --> 00:31:12.000
bad day, that's only productive two or three hours a
558
00:31:12.039 --> 00:31:17.079
day anyway, that's asking for a raise or quitting. That's really,
559
00:31:17.119 --> 00:31:20.119
to me the biggest thing that helps us scale. Certainly
560
00:31:20.480 --> 00:31:23.440
strategic advice and marketing and all of those things, but like,
561
00:31:23.599 --> 00:31:27.759
really it's the consolidation of the number of people that
562
00:31:27.799 --> 00:31:33.119
you need to accomplish tasks at speed that is really
563
00:31:33.319 --> 00:31:33.880
the big deal.
564
00:31:33.960 --> 00:31:37.319
I think, Well, that kind of process automation, that's amazing.
565
00:31:37.319 --> 00:31:39.519
I mean, just you describe that process is an't to
566
00:31:39.559 --> 00:31:41.960
leave one's head kind of spinning on your shoulders just.
567
00:31:41.920 --> 00:31:43.680
To and it's only getting better.
568
00:31:44.079 --> 00:31:45.240
Yeah, it's amazing.
569
00:31:45.720 --> 00:31:49.559
Back to content marketing, a lot of our entrepreneurs.
570
00:31:49.160 --> 00:31:52.480
Boots traffic entrepreneurs and maybe maybe they're moving from solopreneurs
571
00:31:52.480 --> 00:31:54.480
and a building a team or there. They got a
572
00:31:54.519 --> 00:31:56.960
six figure they're trying to move to seven figures or beyond.
573
00:31:57.160 --> 00:31:59.240
And you know, they hear a lot about you know,
574
00:32:00.240 --> 00:32:03.000
your brand, creating your audience. You've got to create content
575
00:32:03.039 --> 00:32:07.000
and so forth, and marketing is complicated, and marketing directors
576
00:32:07.000 --> 00:32:08.200
are expensive.
577
00:32:07.720 --> 00:32:08.240
And all of this.
578
00:32:08.839 --> 00:32:11.279
So you know, in my understanding even the extent of
579
00:32:11.440 --> 00:32:14.160
how we're using it. You know, if you have someone
580
00:32:14.200 --> 00:32:16.359
in your company you are or you have someone at
581
00:32:16.440 --> 00:32:19.000
least who's a savvy marketer, you know, you can take
582
00:32:19.039 --> 00:32:22.039
all the processes by which you would develop a really
583
00:32:22.079 --> 00:32:25.160
good marketing plan and then lay out a whole annual
584
00:32:25.240 --> 00:32:30.039
calendar of content development and then basically generate all the posts,
585
00:32:30.079 --> 00:32:34.599
all the blogs, the podcast, episode topics, everything you're going
586
00:32:34.680 --> 00:32:37.400
to do is part of your content marketing plan that
587
00:32:37.440 --> 00:32:40.920
can all be designed, built and then delivered by AI. Know,
588
00:32:41.000 --> 00:32:43.279
somebody's got to be looking over it to make sure
589
00:32:43.319 --> 00:32:46.400
it's good and gets to the highest level. That requires
590
00:32:46.400 --> 00:32:50.680
somebody with marketing sensibilities. But again, you're talking about doing
591
00:32:50.920 --> 00:32:52.799
the work of months in a week and with a
592
00:32:52.880 --> 00:32:55.240
team small team compared to an agency.
593
00:32:55.680 --> 00:32:58.759
Yeah, one hundred percent, absolutely right. Yeah, we have multiple
594
00:32:58.799 --> 00:33:04.119
newsletters and social media and email calendars that are driven
595
00:33:04.839 --> 00:33:08.839
entirely by AI to the point of generating the content,
596
00:33:09.319 --> 00:33:13.759
and then the content is reviewed by a content expert
597
00:33:14.079 --> 00:33:19.079
that then authorizes edits if needed, and then authorizes the posting,
598
00:33:19.119 --> 00:33:22.000
which is all automated as well. So it's pretty crazy
599
00:33:22.000 --> 00:33:26.559
to build out a year of of content in a
600
00:33:26.599 --> 00:33:29.759
few minutes. But what you do ultimately find is that
601
00:33:29.839 --> 00:33:33.160
a lot of the best content is going to be timely,
602
00:33:33.680 --> 00:33:36.279
So even though you could create a year's worth, you're
603
00:33:36.319 --> 00:33:38.759
probably better off creating about a week or two at
604
00:33:38.759 --> 00:33:42.039
a time, which can still also be automated. But that's
605
00:33:42.079 --> 00:33:44.559
definitely where it's at. And the cool thing about that, though,
606
00:33:44.559 --> 00:33:48.440
fleet is that anybody can do that now, So to
607
00:33:48.559 --> 00:33:52.720
be truly exceptional, you're going to have to stand out
608
00:33:52.759 --> 00:33:58.400
with your own original thought or your own ability to
609
00:33:59.160 --> 00:34:05.039
manipulate the AI resources in a unique way that is
610
00:34:05.119 --> 00:34:09.119
different from everybody else. So I think it's gonna it's like,
611
00:34:09.239 --> 00:34:12.559
it's not that we'll all basically get to just not
612
00:34:12.679 --> 00:34:14.519
have to do that anymore. It's going to be to
613
00:34:14.679 --> 00:34:17.440
stand out, to truly stand out in an ever increasing
614
00:34:17.519 --> 00:34:21.480
sea of easily generated AI content. The people that do
615
00:34:21.639 --> 00:34:23.719
stand out and succeed are going to be the ones
616
00:34:23.800 --> 00:34:28.840
that personalize the connection between themselves and the reader, and
617
00:34:29.239 --> 00:34:32.199
that's something AI has yet to be able to accomplish,
618
00:34:32.440 --> 00:34:34.400
not saying it won't be able to, but not yet.
619
00:34:35.000 --> 00:34:38.280
And in that process there you mentioned a content expert reviewing.
620
00:34:38.440 --> 00:34:40.440
Was that a human or was that an AI bought?
621
00:34:40.840 --> 00:34:43.840
It's a human. It's just you have to have somebody
622
00:34:43.880 --> 00:34:46.400
review anyway because there are mistakes. You wouldn't want the
623
00:34:46.400 --> 00:34:49.199
AI to put out some terrible thing. It's like, it's
624
00:34:49.280 --> 00:34:52.559
not foolproof, but it's you know, we do have editing
625
00:34:52.639 --> 00:34:56.679
and all that built into the system, but sometimes crazy
626
00:34:56.679 --> 00:34:59.639
stuff slips through, so it's good to have the person there.
627
00:35:00.079 --> 00:35:03.039
Well, let's explore some of your other areas of expertise
628
00:35:03.079 --> 00:35:07.840
in particularly the mergers and acquisitions area, just deal making altogether.
629
00:35:08.320 --> 00:35:11.119
So you know, I know you've developed some AI tools
630
00:35:11.119 --> 00:35:14.280
for upound phone calls and stuff and things like that,
631
00:35:14.480 --> 00:35:18.039
but maybe just talk about AI's role in deal making
632
00:35:18.280 --> 00:35:21.719
and in finding deals and doing deals where you're buying
633
00:35:21.760 --> 00:35:22.760
and selling companies.
634
00:35:23.280 --> 00:35:26.960
Sure, so for us, it starts with acquisition criteria.
635
00:35:27.519 --> 00:35:27.840
We have.
636
00:35:28.360 --> 00:35:33.079
You know, I created a GPT that asks you several
637
00:35:33.159 --> 00:35:38.800
questions and then creates acquisition criteria for you, and then
638
00:35:39.039 --> 00:35:42.400
suggests categories of companies to buy, all the way down
639
00:35:42.440 --> 00:35:47.400
to specific companies, so it will actually help you determine
640
00:35:47.440 --> 00:35:48.719
what is it that I want to buy in the
641
00:35:48.719 --> 00:35:50.400
first place, because most people are like, I'm going to
642
00:35:50.400 --> 00:35:51.920
buy a business, and it's like, Okay, what business do
643
00:35:51.920 --> 00:35:53.800
you want to buy? I don't know, maybe a laundromat,
644
00:35:53.840 --> 00:35:57.280
maybe a writing school. Maybe you know, a digital marketing agency,
645
00:35:57.280 --> 00:35:59.679
maybe a website. Okay, well those are very different things.
646
00:36:00.239 --> 00:36:03.000
How can we help you narrow that down to the
647
00:36:03.000 --> 00:36:06.079
thing you actually might want to have? And that's what
648
00:36:06.280 --> 00:36:10.000
this AI software helps you do. And so it asks
649
00:36:10.000 --> 00:36:13.719
you several questions and then it hones down to several
650
00:36:13.760 --> 00:36:15.840
categories of businesses that you might want to buy, and
651
00:36:15.840 --> 00:36:18.440
then once you get down to the categories, it does subcategories,
652
00:36:18.480 --> 00:36:20.840
and the subcategories you can go as deep as you
653
00:36:20.880 --> 00:36:23.519
want until you decide to say, can you give me
654
00:36:23.559 --> 00:36:26.719
a list of thirty companies that I might talk to?
655
00:36:26.960 --> 00:36:29.760
And then it might suggest those for you, or you
656
00:36:29.760 --> 00:36:34.039
can use that to go to a business database like
657
00:36:34.199 --> 00:36:38.519
zoom info or Axle or somebody like that and put
658
00:36:38.519 --> 00:36:41.119
in that acquisition criteria and say, give me five thousand
659
00:36:41.119 --> 00:36:45.000
businesses that meet this criteria. That's kind of step one.
660
00:36:45.559 --> 00:36:48.960
Then you can say, create an outreach campaign, and so
661
00:36:49.039 --> 00:36:54.199
we have automated AI assisted creation of campaigns that then
662
00:36:54.440 --> 00:37:00.239
automate email and telephone ringless voicemail and text message. Is
663
00:37:00.239 --> 00:37:03.760
that it sends out to all of the prospects. They reply,
664
00:37:04.480 --> 00:37:07.480
the AI has conversations with the people and then basically
665
00:37:07.559 --> 00:37:11.079
sets calls with them to have conversations with a human
666
00:37:11.480 --> 00:37:15.320
for the people that qualify. Now you have the conversation,
667
00:37:15.440 --> 00:37:18.000
but before you have the conversation, you say, what am
668
00:37:18.039 --> 00:37:20.920
I going to say? Now, I've got my phone sets
669
00:37:20.960 --> 00:37:24.519
so that the action button on my iphills up chat GPT,
670
00:37:25.079 --> 00:37:30.920
and my Chat GPT is armed with my seller Conversation consultant,
671
00:37:31.239 --> 00:37:33.239
So basically I can hit that and then I can
672
00:37:33.440 --> 00:37:39.840
have actual conversations audio conversations with chat GPT that are
673
00:37:39.960 --> 00:37:44.039
simulating where Chat GPT is either simulating a seller or
674
00:37:44.079 --> 00:37:46.199
it's simulating a buyer, and I can be the seller
675
00:37:46.280 --> 00:37:48.519
and raise objections that I'm afraid the seller is going
676
00:37:48.559 --> 00:37:52.000
to have. And I'm pre trained myself on the conversation
677
00:37:52.079 --> 00:37:54.360
I'm going to have. Now I'm going to use my
678
00:37:55.119 --> 00:37:59.800
script that got generated by AI with my trained conversation
679
00:38:00.400 --> 00:38:03.880
to actually have a conversation with a seller. During that conversation,
680
00:38:03.960 --> 00:38:06.679
I'm going to ask for certain documents they're gonna send me,
681
00:38:06.719 --> 00:38:09.360
say financial statements and things like that. I'm going to
682
00:38:09.480 --> 00:38:12.519
upload those financial statements into another GPT that I've built
683
00:38:12.639 --> 00:38:15.360
that's going to analyze them and say, hey, based on
684
00:38:15.400 --> 00:38:19.039
everything that I've looked at, here, this company's really good
685
00:38:19.039 --> 00:38:22.239
at this. It's below industry at these things. Here are
686
00:38:22.239 --> 00:38:26.840
big opportunities for improvements. Here's the projections for going forward.
687
00:38:26.920 --> 00:38:29.480
Then I'll take that, move it into another GPT, and
688
00:38:29.519 --> 00:38:32.360
all this will be agentized eventually, but it's just not
689
00:38:32.440 --> 00:38:36.000
quite there yet. It'll take that information and use the
690
00:38:36.000 --> 00:38:39.320
financial statements to create me an offer, and then i'll
691
00:38:39.320 --> 00:38:42.119
tweak the offer, and then the offer I'll need to
692
00:38:42.119 --> 00:38:43.920
put into a letter of intent, which I'll then ask
693
00:38:43.960 --> 00:38:46.079
another GPT to create for me. The letter of intent
694
00:38:46.119 --> 00:38:48.639
will get created. I'll take the letter of intent and
695
00:38:48.760 --> 00:38:51.159
email it to all of the people that I've been
696
00:38:51.199 --> 00:38:52.880
talking to, but I won't have to email it one
697
00:38:52.880 --> 00:38:54.719
at a time. It'll just do all of them, and
698
00:38:54.800 --> 00:38:57.920
then it will process the interaction until we get to
699
00:38:58.480 --> 00:39:02.000
a meeting or another conversation to negotiate, And I even
700
00:39:02.039 --> 00:39:05.679
have a negotiation assistant that helps me as I'm having
701
00:39:05.719 --> 00:39:10.280
conversations with you live about the deal. That's analyzing the
702
00:39:10.320 --> 00:39:12.920
payments and all of that stuff to come up with
703
00:39:13.360 --> 00:39:15.920
the best counters to the first offer that I made
704
00:39:16.000 --> 00:39:19.079
you Like, that's really And then when we get into diligence,
705
00:39:19.519 --> 00:39:22.440
the commercial, legal and financial due diligence is all conducted
706
00:39:22.519 --> 00:39:26.960
now by automated AI systems as well. So it really
707
00:39:27.679 --> 00:39:30.639
is making my life as an you know, as an
708
00:39:30.639 --> 00:39:33.079
acquisition entrepreneur significantly easier.
709
00:39:33.519 --> 00:39:37.119
Wow, I'm sure our audiences heads are just again spinning
710
00:39:37.159 --> 00:39:38.440
on their shoulders right now.
711
00:39:38.760 --> 00:39:41.440
The cool thing, too, fleet is, like I wrote all
712
00:39:41.480 --> 00:39:44.639
that stuff like those are all software. I didn't have
713
00:39:44.679 --> 00:39:47.960
to hire somebody like I used to and spend two
714
00:39:48.079 --> 00:39:50.920
or three hundred grand to get one of those things done.
715
00:39:50.960 --> 00:39:54.760
It's just, you know, it's all so much easier now.
716
00:39:55.119 --> 00:39:58.239
And you mentioned the outbound calls, the AAI outbound calls,
717
00:39:58.559 --> 00:40:01.239
that's actually a boys AI having a conversation with people,
718
00:40:01.239 --> 00:40:01.679
And I've.
719
00:40:01.519 --> 00:40:02.400
Listened to some of those.
720
00:40:02.559 --> 00:40:04.639
Yeah, person on the other end may or may not
721
00:40:04.679 --> 00:40:07.760
recognize it as AI or or a real person because
722
00:40:07.800 --> 00:40:10.760
it's pretty real. It doesn't identify itself as an AI call,
723
00:40:10.840 --> 00:40:11.719
right or yeah.
724
00:40:11.559 --> 00:40:14.400
It depends. I think it's actually better to identify it
725
00:40:14.480 --> 00:40:16.440
as an AI call. And keep in mind that there
726
00:40:16.440 --> 00:40:19.440
are rules about getting permission to do what they call
727
00:40:19.559 --> 00:40:22.159
robo calls, so different states have different rules, so you
728
00:40:22.159 --> 00:40:24.800
need to comply with all that stuff. But typically you're
729
00:40:24.840 --> 00:40:29.360
not doing those voice outreaches to a cold list. You've
730
00:40:29.360 --> 00:40:31.719
already done something to get them to raise their hand
731
00:40:31.760 --> 00:40:34.239
and say I'm interested in having a conversation about this,
732
00:40:34.639 --> 00:40:37.360
and then in your terms of service, they're consenting to
733
00:40:37.400 --> 00:40:39.039
receive those kinds of calls, So you've got to be
734
00:40:39.039 --> 00:40:42.599
careful about that kind of stuff. But yeah, it's so effective,
735
00:40:42.639 --> 00:40:44.519
and you know, very often you would not know.
736
00:40:44.920 --> 00:40:46.760
So I'm curious about it. I guess it depends on
737
00:40:46.800 --> 00:40:50.440
what kind of acquisitions someone is doing. But if you're
738
00:40:50.880 --> 00:40:53.400
you know, I know, the model that you teach and
739
00:40:53.559 --> 00:40:56.599
coach people in, you're looking for motivated sellers. Maybe they're
740
00:40:56.639 --> 00:40:59.280
raised to retire or there's a divorce for various reasons, and.
741
00:40:59.239 --> 00:41:01.679
You're trying to find win win deal that's good for you.
742
00:41:01.719 --> 00:41:04.920
As approaches are good for them, but very often you know,
743
00:41:05.159 --> 00:41:07.880
it can be very personal and very emotional for them,
744
00:41:07.880 --> 00:41:10.559
and there's a quality of having to sort of handhold
745
00:41:10.679 --> 00:41:13.960
them through the process of getting realistic about what their
746
00:41:13.960 --> 00:41:16.599
business is really worth and being willing to let go
747
00:41:16.760 --> 00:41:19.320
and move on and realize. You know, So, how does
748
00:41:19.440 --> 00:41:22.079
all that part get handled within it? I mean, I
749
00:41:22.159 --> 00:41:24.760
suppose AI taking care of most of it gives you
750
00:41:24.880 --> 00:41:27.480
more time or people working for you to handle the
751
00:41:27.519 --> 00:41:29.800
personal side of it. But is there still a personal
752
00:41:29.840 --> 00:41:31.599
side to it that's got to get handled.
753
00:41:31.480 --> 00:41:34.840
One hundred percent? Yeah, it is all about you're going
754
00:41:34.880 --> 00:41:39.519
to get the best deals done where people know, like
755
00:41:39.599 --> 00:41:43.159
and trust you, and that does require human interaction still,
756
00:41:43.199 --> 00:41:46.119
So we're using AI to really do the heavy lifting
757
00:41:46.760 --> 00:41:52.559
to significantly speed up the process of analysis and outreach
758
00:41:52.719 --> 00:41:56.960
and the route things and the things that require human connection.
759
00:41:57.719 --> 00:42:00.400
Those are still important, like having a conversation where you
760
00:42:00.880 --> 00:42:04.480
ask the person, you know, what's your entrepreneurial journey, Ben,
761
00:42:04.800 --> 00:42:07.519
tell me the story of the business, where you have
762
00:42:07.599 --> 00:42:10.880
the ability while listening to them to find common touch
763
00:42:10.920 --> 00:42:13.880
points that connect you to them. You know, Oh, I
764
00:42:13.920 --> 00:42:16.360
grew up in you know, the Mississippi Delta too. Oh,
765
00:42:16.480 --> 00:42:19.119
I went to you know school to be a you know,
766
00:42:19.280 --> 00:42:22.440
a one care expert too. Oh, I've always been interested
767
00:42:23.000 --> 00:42:25.480
in finding out more about the area that you live in.
768
00:42:25.519 --> 00:42:27.119
It doesn't have to be like direct, it can even
769
00:42:27.159 --> 00:42:31.639
be indirect. It's just hey, I'm like you, and I
770
00:42:31.960 --> 00:42:36.000
understand you, or I want you to understand that I
771
00:42:36.079 --> 00:42:39.159
get kind of where you're coming from. Or let's collaborate,
772
00:42:39.199 --> 00:42:41.079
because I always say, it's not a negotiation to buy
773
00:42:41.079 --> 00:42:44.440
a business. It's ideally a collaboration where we're working together
774
00:42:44.920 --> 00:42:47.360
towards getting the seller what the seller wants, which is
775
00:42:47.400 --> 00:42:51.320
to no longer own the business and have some amount
776
00:42:51.519 --> 00:42:55.400
of capital that they receive in exchange for that helps
777
00:42:55.440 --> 00:42:57.400
them do whatever it is they want to do. And
778
00:42:57.480 --> 00:43:00.480
thinking about it from that high level allow allows you
779
00:43:00.559 --> 00:43:03.400
to realize that it's not just about money, and it's
780
00:43:03.400 --> 00:43:06.880
not just about well, Hi, I'm Ai, and I realize
781
00:43:06.960 --> 00:43:09.639
I've analyzed your financial statements from the answers that you've
782
00:43:09.639 --> 00:43:11.719
given the automated system, and I'm telling you that the
783
00:43:11.719 --> 00:43:14.039
business is worth one point four million dollars and my
784
00:43:14.079 --> 00:43:16.119
offer is one point four million dollars. Do you accept?
785
00:43:16.159 --> 00:43:18.400
Yes or no? You know that's not going to ever
786
00:43:18.480 --> 00:43:22.599
get the deal done. The way that a conversation. You know, listen,
787
00:43:22.599 --> 00:43:24.199
you know you were telling me about your kids and
788
00:43:24.239 --> 00:43:25.719
that you know, you really want to be sure they're
789
00:43:25.760 --> 00:43:27.360
set up. And I think that you were like, you
790
00:43:27.400 --> 00:43:29.280
needed this much for the business to make that happen.
791
00:43:29.480 --> 00:43:30.920
I think we can do that. But what I need
792
00:43:30.960 --> 00:43:32.119
to do is I'm gonna have to have some sellar
793
00:43:32.119 --> 00:43:34.519
financing to make that happen. That's okay because your kids
794
00:43:34.519 --> 00:43:37.079
aren't actually going to need that money for college for
795
00:43:37.159 --> 00:43:39.519
ten more years. So we structure it like this, we
796
00:43:39.519 --> 00:43:41.760
can actually accomplish the goal. Now. I'm not saying that
797
00:43:41.800 --> 00:43:44.760
a I won't get there because it ought to, but
798
00:43:44.920 --> 00:43:48.599
it's not there yet, and so that level of I
799
00:43:48.840 --> 00:43:53.079
care and I connect is very important. Still. I've heard you.
800
00:43:53.039 --> 00:43:57.519
Talk before about expanding audience and reach by by basically
801
00:43:57.599 --> 00:44:00.719
buying media, you know, buy a bacebook group or by
802
00:44:00.800 --> 00:44:03.159
you know, if the audience you need to market your
803
00:44:03.159 --> 00:44:06.599
products to, you can acquire that. So is there an
804
00:44:06.599 --> 00:44:09.760
application for AI here to build a kind of grow
805
00:44:09.800 --> 00:44:12.599
your company and scale your company, increase your audience by
806
00:44:12.599 --> 00:44:14.519
purchasing basically media assets.
807
00:44:15.039 --> 00:44:16.960
Yeah, I mean all the things that we just talked
808
00:44:17.000 --> 00:44:20.599
about in terms of acquisitions apply to acquiring media, so
809
00:44:21.039 --> 00:44:23.920
you know everything from what kind of media should I buy?
810
00:44:24.480 --> 00:44:27.440
To help me find it, to help me have conversations,
811
00:44:27.480 --> 00:44:30.760
to help me do the outreach, you know, process, the numbers,
812
00:44:31.119 --> 00:44:34.920
et cetera, et cetera. That that's all applicable from what
813
00:44:35.000 --> 00:44:36.000
we talked about before.
814
00:44:36.079 --> 00:44:39.159
So absolutely, And the last thing I wanted to ask
815
00:44:39.159 --> 00:44:41.079
you here when we're getting near the end of our
816
00:44:41.119 --> 00:44:44.960
time together, rolling for someone in an audience who's thinking
817
00:44:45.000 --> 00:44:48.920
about an exit plan or thinking about maybe sometime in
818
00:44:48.920 --> 00:44:51.239
a year or even dis computure you're selling their company,
819
00:44:51.519 --> 00:44:53.760
how can AI help them figure out how to get
820
00:44:53.760 --> 00:44:56.840
the best valuation and the best result the best sale
821
00:44:56.880 --> 00:44:57.559
for their company.
822
00:44:58.119 --> 00:45:03.679
Yeah, so everything from AI has generally got knowledge of
823
00:45:03.880 --> 00:45:09.119
most of the publications and trainings on exiting a company.
824
00:45:09.199 --> 00:45:12.719
So asking it to help you create an exit plan
825
00:45:13.239 --> 00:45:17.880
for your company to optimize valuation over the next whatever
826
00:45:17.920 --> 00:45:19.800
period of time between where you are now and when
827
00:45:19.840 --> 00:45:22.480
you would like to exit would be a great place
828
00:45:22.519 --> 00:45:25.119
to start. And then having a conversation with it about
829
00:45:25.159 --> 00:45:28.239
each of the things that it suggests and asking it
830
00:45:28.280 --> 00:45:32.199
for specific action steps that would be very helpful. And
831
00:45:32.239 --> 00:45:35.280
I do exit consults for people where we come in
832
00:45:35.519 --> 00:45:39.000
and we have a company that does outreach and pre
833
00:45:39.079 --> 00:45:42.639
exit planning and all of that stuff, and so a
834
00:45:42.679 --> 00:45:47.039
lot of that is still relationship oriented based on who
835
00:45:47.119 --> 00:45:50.480
you know and you know the ways that we've increased
836
00:45:50.480 --> 00:45:53.000
things in the past. But you know, having just that
837
00:45:53.039 --> 00:45:56.639
conversation with the chatbot initially, I think would be a
838
00:45:56.719 --> 00:46:00.480
great first step to understanding the kind of things that
839
00:46:00.480 --> 00:46:01.840
you're going to need to do to get your company
840
00:46:01.880 --> 00:46:02.840
ready to exit.
841
00:46:03.039 --> 00:46:05.760
And along with getting it ready, accessing the market or
842
00:46:05.800 --> 00:46:09.000
potential buyers for your company. I know, I'm sure there
843
00:46:09.000 --> 00:46:11.360
are good brokers. There could be the right bit for
844
00:46:11.440 --> 00:46:13.360
the right company to get sold. The brokers can really
845
00:46:13.400 --> 00:46:16.039
get in a way to conventional brokers, and so there's
846
00:46:16.079 --> 00:46:19.000
a way that people use AI to access the marketplace
847
00:46:19.039 --> 00:46:21.880
with the potential buyers for their company without having to
848
00:46:21.880 --> 00:46:24.159
get caught up in the world of business brokers.
849
00:46:24.480 --> 00:46:27.039
Yeah, you're talking about going directly. The biggest challenge is
850
00:46:27.119 --> 00:46:30.320
that world is so relationship oriented to get through the door,
851
00:46:30.880 --> 00:46:34.199
then if you don't have a pre existing relationship, it's
852
00:46:34.280 --> 00:46:38.719
much much harder from a cold outreach standpoint to get
853
00:46:38.719 --> 00:46:43.360
a response from people that are busy receiving a continual
854
00:46:43.480 --> 00:46:47.920
flow of unsolicited inquiries about buy my business. But at
855
00:46:47.920 --> 00:46:52.559
the same time, many businesses have set up either business
856
00:46:52.559 --> 00:46:57.840
development or business acquisition departments and even have processes and
857
00:46:58.079 --> 00:47:02.039
forms to submit your businesssiness to be looked at. But
858
00:47:02.159 --> 00:47:04.519
similar to applying for a job fleet, I know that
859
00:47:04.719 --> 00:47:08.360
like if a thousand people apply for a job that's posted,
860
00:47:08.880 --> 00:47:14.079
the person whose cousin's sister knows somebody is the person
861
00:47:14.119 --> 00:47:17.079
that's going to get preference for the job. That's where
862
00:47:17.880 --> 00:47:22.320
we'll have its probably hardest time infiltrating is the connectivity
863
00:47:22.400 --> 00:47:25.840
of people like people they like and know, and they're
864
00:47:25.880 --> 00:47:28.360
going to deal with those people over people that they don't.
865
00:47:28.800 --> 00:47:32.079
So yeah, and maybe finding you know, a really quality
866
00:47:32.239 --> 00:47:34.880
broker that's using AI to become really efficient and really
867
00:47:34.920 --> 00:47:37.480
good day as the right networks, but also can AI
868
00:47:37.679 --> 00:47:39.599
be used as a tool if an entrepreneur is saying,
869
00:47:39.639 --> 00:47:42.559
you know, sometimes I've heard that expression on who coined it?
870
00:47:42.719 --> 00:47:45.199
Your network is your net worth is there are ways
871
00:47:45.199 --> 00:47:48.159
in which AI can help us expand our networks that
872
00:47:48.239 --> 00:47:50.679
will support our entrepreneurship journey at every level.
873
00:47:51.000 --> 00:47:53.760
At the initial level, but ultimately, people connect to people.
874
00:47:53.760 --> 00:47:56.639
It's human to humans. Still over everything else. So you
875
00:47:56.679 --> 00:47:59.559
can use all of the AI to get you an
876
00:47:59.559 --> 00:48:03.840
opportunity to meet the human, but the connection is going
877
00:48:03.880 --> 00:48:07.000
to require actual human to human interaction at this point.
878
00:48:07.199 --> 00:48:09.320
Yeah, at least being strategic about you know, where do
879
00:48:09.400 --> 00:48:11.199
I put my effort time into network and.
880
00:48:11.239 --> 00:48:13.320
Be taken super helpful with that.
881
00:48:13.840 --> 00:48:16.920
Yeah, right, Well, this has been illuminating as always. Roland,
882
00:48:16.920 --> 00:48:18.440
thank you so much. I know you have a free
883
00:48:18.480 --> 00:48:20.760
gift off for audience. I also want to know have
884
00:48:20.840 --> 00:48:23.239
audiences know where they can find out more about your work.
885
00:48:23.480 --> 00:48:25.800
Okay, we'll shoot a link over and get it posted.
886
00:48:26.159 --> 00:48:29.159
Great, it'll be right below this place, so your main
887
00:48:29.199 --> 00:48:31.800
website to go to for people that are interested at
888
00:48:31.840 --> 00:48:34.440
epicnetwork dot com. Well, thank you so much for rolling.
889
00:48:34.519 --> 00:48:36.639
This has been fabulous, saying, oh, thank you, I appreciate
890
00:48:36.639 --> 00:48:40.039
you having me. Taking radical responsibility for our lives means
891
00:48:40.079 --> 00:48:42.960
taking action, and today you can start by helping us
892
00:48:43.000 --> 00:48:46.800
grow this community. If these insights into healing and transformation
893
00:48:47.159 --> 00:48:50.840
have served you, please subscribe on YouTube and follow us
894
00:48:50.840 --> 00:48:55.199
on Apple Podcasts and Spotify. While you're there, leave us
895
00:48:55.199 --> 00:48:58.559
a review. It takes thirty seconds, but it's the most
896
00:48:58.559 --> 00:49:01.840
powerful way to help our message reach someone else seeking
897
00:49:01.960 --> 00:49:05.079
deeper self awareness. Thank you for being part of the
898
00:49:05.159 --> 00:49:09.320
journey towards lasting change. Thank you for joining me on
899
00:49:09.360 --> 00:49:13.480
the Radical Responsibility Podcast. Remember, real change happens when we
900
00:49:13.519 --> 00:49:16.519
commit to our growth, face our challenges with compassion, and
901
00:49:16.599 --> 00:49:19.920
stay open to transformation. If you found this episode helpful,
902
00:49:20.159 --> 00:49:22.639
I encourage you to subscribe and help us spread the
903
00:49:22.639 --> 00:49:26.639
message of healing and personal empowerment. Stay grounded, stay present,
904
00:49:26.800 --> 00:49:27.800
and stay true to you.
905
00:49:28.079 --> 00:49:28.599
Take care