Building the Moat | Locking in Your Future by Purchasing Referral Sources and Buying Banks

Audio Transcription

Hello and welcome to another edition of the thrive time show. On today’s show, we discuss how to protect your future by buying a bank. On today’s show we also discuss what kind of lobster should you be feeding to your dog and why. It must always be okay. Is this a surprise? Gluck is just a real massive fry. Just a real nice of fry,

grabbed the duct tape and mentally prepare yourself for yet another mind-expanding knowledge bomb from America’s number one business coach. Clay Clark.

Yes, yes, yes and yes, dr Z. It is always ecstasy when you are next to me. I am fired up. Final recording of of today. Oh yes, because today’s show is called, it’s titled building the moat. Woo. Locking in your future by purchasing referral sources and buying banks. Oo, Z. We have a listener out there who’s doing well just in and he has questions for you. So I’m going to read the question off and as I read them, please feel free to not answer them. If you flick there, they’re too deep, dark, personal, nefarious, negative soul sucking and overall communist in their nature. I don’t know, we can kind of flirt with, he does not like heavy communism or just trying to like, you know, like semi communism, kinda like communism light. Well, you’d have to open up the mail bag. You might have a commie emailing you or you’ll have a real entrepreneur, hard-hitting communism, maybe like, you know, diet communism.

I could do Canadian communism where it’s kinda like kinda like socialism [inaudible] moderate socialism. Trucking cops wear red jackets. I mean, the great thing about, listen, here’s what Canada has given us. They’ve given us Justin Bieber true dressed as a mounted policemen, bring us maple syrup to our doorstep. I mean, that’s really Canada in a nutshell. It’s like a beautiful thing when you think about it. By the way, they gave us a Molson ice. Alana Samora set a Bryan Adams. Wow. Doug Flutie and I just, I was just scratching the surface. I think Warren moon. Wow. Uh, the, the word Mountie, the word Mountie and that right there is worth a trip to Vancouver. I mean, that right there poured a lot of oil to us, but now not anymore. Not so much on a regulations, a lot of regulations, what regulations and deregulations and in great regular regulations do you think Sasquatch, AKA Bigfoot, you think that’s this home refuge and they’re just protecting him. He’s like on their endangered species list and they stop. Just because I have a large head doesn’t mean my name is Sasquatch. These passive aggressive questions. Well, I can read your mind. Well, I’m not seeing your feet are big, but they’re not small. Well, speaking of big feet, let’s talk about these questions from Elizabeth here. He says, I have an opportunity and can purchase a referral source. He is an ophthalmologist. Yes. Please explain the difference between being an optometrist and ophthalmologist.

Well, the short answer that people may give you an analogy. It’s the difference between like a dentist and an oral surgeon in the sense that a dentist goes to dental school and does everything in the mouth. Okay. And by state, by state, pretty much they can do whatever that state says they can do, but it’s all about the mouth. The dental area. Now, an oral surgeon is a, is a physician that has specialized in surgery of the mouth so they could do in theory other thing, optometrist, same thing. We are, we went to optometry school and all our focus is the eyes, the not only the refraction, but also the health of the eyes and by state, by state. Some States do surgery, some States, no surgery. Since they do prescribe things like you know, medicines and pharmaceutical sums. You don’t, some you laser surgery, some you don’t.

So every state is kind of different. But an ophthalmologist is a person that went through medical school that specialized in the surgery of the eye and surrounding areas. So they technically are a physician that can also do, prescribe whatever they want because they’re, you know, an MD or a DEO licensed in their state. So, and then an op op, an optician is like a pharmacist. They’re a person that, that you give them the prescription of creating the lenses or the frames. You don’t mean grinding the lenses and they, and they do that. So you have the optician, he’s like the pharmacist, the optometrist who can do the refractions and also depends on the state, can provide a different level of healthcare. And then you have the ophthalmologist who’s a physician who is specialized in an eye surgeries that I probably wouldn’t overboard.

No, this, this makes sense. So listeners out there want to know this. What we want to understand, the industry is a little bit here. Okay. So he’s an ophthalmologist and he has, he has multiple referral sources. So I’m assuming optometrists, family doctors refer him. So like we don’t do [inaudible]

cataract surgery here in Oklahoma. So when a patient comes in and needs that, then we refer that to an ophthalmologist. So we, we are a referral center for ophthalmology

and he wants to know, um, how would you says, how would you recommend purchasing, owning or managing a referral source without alienating other referral sources since they are in competition with one another?

That is a challenge. And that’s a challenge in business. When you’re B2B and that’s ophthalmology, there’s not a lot of people that walk off the street and go, excuse me, I have a cataract. I think I need to take an out. They don’t, I mean, they have to be picked up. Most people go through a primary caregiver in this, in this regard, and that’s an optometrist. They come and say, I can’t see, and they look in their eyes and say, Oh, you have a cataract and then I’m gonna send you on. Now more times than not, the patient doesn’t say, Oh, I have a favorite ophthalmologist, I’m going to go to myself. Most times they say, who should I go see? Right. I mean that’s, that’s the thing in medicine, it’s kinda like you go in, you see your primary care physician and you say, I have a heart, who should I go see?

They send you to the cardiologist. That third choice. Got it. Right. And so when you had these referral sources, that’s kind of a game that’s, that’s the game you play, you know, it’s kind of like an ophthalmologist might have 10 optometrist referring to him. And how do you juggle each week you get a used car dealers buying a lot of cars, right? Your auto auction, right? If you were to go out and buy the biggest, baddest used car dealership and Tulsa, right, how would that go over? Well, you’ve not well with some and okay with others. You know, I once had an ophthalmologist that I referred to and they said, Hey listen, we’re going to, we’re going to set up over here in the corner and an optical shop. Do you give our blessing to it? Do you care? Are you going to be upset if we do that?

Because now we’re going to be competing directly with your business. I said, no, I’m not. I don’t care. Go ahead and do, go for it. I, I, you know, thanks for asking, but I mean, you didn’t need to, but thanks for asking. Um, it’s your business. You can go ahead and do it. It’s not gonna affect how I think about you or feel about you. Um, go ahead and if you want to compete in, mind me on that, come on, come on. Come on camper. And after a short time they shut it down and I, and they said, this shut it down. I said, why you shut it down and said, well we really appreciate that you didn’t get offended by it, but almost everybody else that refers to us got offended by it and they stopped referring to us. So we, the optical wasn’t that big a deal.

We were doing it kind of as a, you know, Hey our patients are right here. They don’t have to go anywhere else. They could get their glasses right here, but they had so much push back from so many of the referral sources, I E optometrists referring to them so that that is something, because I have thought about that. I had thought about getting some car dealerships, used car lots, if you will, just as a sidebar and I haven’t yet because I thought you don’t have my auto auction, I’m doing business with all these guys and then they start competing with these guys while I’m doing business with these guys. It’s a tricky, is a very tricky thing in business. So you have to be one established long enough. And to build enough rapport with these guys that they understand that, Hey, you know, it’s just another competitor.

I don’t have a competitive edge. I’m not, you know, I’m not, you know, sweet picking cars out of the auction and go sell on my, on my lot, but they’re going to think that they bite. And some people may go, you know what? And this is the way business is. Every time you make a decision, just like you in the DJ business, you said, you said, listen, we’re charging $600 per wedding. True. Right? Right. Make it about 150 bucks a profit per show. And then you said, you know what I’m going to go to, for whatever reason you said I’m going to go to six 50 and guess what? You may have lost 5% of business from that, right? Yup. But the other $50 you made on all those 95% of the other shows, well more than made up for it. So that’s the thing in business is it’s kinda like my number one rule and, and, and uh, in business.

And I would play my farm yard thing. But you’ve got me shut down on the board and I can’t get rid of that. I’d keep going. Last time I looked at wasn’t on there any longer, but it’s the farm yard reality. Pigs get fat and hogs get butchered. What does that mean? That means greed. And so like you, you could have said, okay, we’re charging $600 we’re the world’s largest DJ company. They’re doing weddings and events and all those fun things. And then you could have said, you know what? Since we’re the big dog in town, we want to be a hog. We’re going to charge $200 cause you know what we can, it’s hug, it’s hug time, baby hog time. Have you ever heard, let me be your hog by weirdo. Um, no, I don’t think I have really no worries. Um, your that up while I’m finishing this.

Okay. So today what happens is you go to 1200 and now you lose 70% of your business and you’re thinking, wow, I’m making twice as much for wedding, but I’m only doing a fraction of the number of weddings that’s being the hog, right? Being the pig is going from 600 to six 50 yes. You lost a few deals, right? You leave, you lose say 5% of your deals, but yet I own those other 95% you’re making under 50 bucks and way you do the math way makes up for it. So business coach td Jake’s has a sermon he just came out with called don’t run with the herd and he talks about leadership is about tradeoffs. Yeah, it’s the end of the day. He’s like, you can’t make a decision that makes everybody happy. You can’t, you can’t rule through consensus. You gotta think about it. How much business am I going to lose by doing this?

But if you make a decision where everybody’s upset about it, it’s probably not a good as, and you’re like, you know what, I’m just going to stick to my [inaudible] stick to witness. And I’m going to make this decision because I feel like it’s a rap thing and yet you lose a big chunk of your business and all of a sudden you’re going, Oh, I was a hog that got butchered. Let’s go back to it. Let’s go back to not 600 we’ll go back to five 50 now and try to rebuild this thing back up again. Um, and that’s the thing about it is when you have referral sources, you know, treating them as kinda like, I make the analogy, it’s like dating multiple women. All right, this just in, it’s like, Hey, I can’t take you all out on Friday night. So I got choose. Why are you here?

But you know what I mean? When you take this, take this analogy all the way down the field on going, I want to hear where this goes. I’m excited to hear how this works. Yeah, this is a good premise. This is a good prisoner, Adam Sandler movie premise.

You’re like, Hey, let’s be for cocktails for happy hour and chunder Betty, we’ll meet for dinner and Susan will do after dinner. Maybe some dessert. I know. Great

yogurt shop. You do like yogurt, right?

I mean, who doesn’t like yogurt, right?

Then you can get that lump note, right, dear Betty, you’re the best, but you have to [inaudible]

they give it to Sharon because you’ve heard that her new one, her name was because you have a different person, you go out with meal, you have 21 different dating relationships and you like LA Rhonda. You know, I like walking in the park in the early, the early, really early in the morning. You know

the feed. Watch the, is your name Amy or, or Shinika. It’s Amy. Shaneeka, Amy and then Amy or do you like brunch brunches, brushes by, come on babe. Come back of the day just like you. Right. Oh that’s Karen. No, Karen, I passed your lunch cause I love lunches now and the year, I don’t know what year was that. We’re now released a movie called a UHF. You’re seeing UHF Z, you’ve got, I may have, I probably had, you know, psychotherapy to get rid of it. I don’t know. It’s based roughly on the, uh, the life and times of, of Ted Turner. Ted Turner famously purchased a cable, a network tilty yeah. And when he bought it, cause his dad was in, his dad was in the billboard industry and he took the family fortunate and got into the TV industry and it wasn’t going well. And so in 1989, we were at, Al made a movie about this called UHF and the movie, um, he’s trying to fill um, program.

So I’m going to cue up. He used to, you know, cause when you have a TV station, you have to have TV 24 hours a day. That’s a thing. And so he came up with his own shows when they couldn’t have an actual show. So it’s like we need to have great programming and if we can’t afford, uh, or if there are no great programs, we have licenses to, we’re going to have to have our own show during these segments. So I’ve got a couple shows I want to queue up here. One of business coach shows he did. Somehow he recorded a song called, let me be your hog. Oh yeah. Kill like 17 seconds of, of airtime. So let me queue up the show first. This is the show called wheel of fish that he, he put on his show because he didn’t have on his channel because he didn’t have a show to fill the air time. Let me queue it up here. One of these lucky contestants will win his fish.

[inaudible] let’s play the game. We stopped with yesterday’s winner. Ms fuses Weaver, I sure am. Cooney. Okay, you’ll get over there and spin the wheel. A fixture.

There are live fish or we’ll pitch on the wheel.

Can I move all red snapper? Okay. We’ve are. Listen carefully. You can hold onto your red snapper. All you can go for. What’s in the box that Diosana is bringing down the aisle right now? What’s it going to be? Good. The red stamp or what’s in the box? [inaudible] take the box, the box [inaudible] box. Perfect. Nothing. Absolutely nothing.

Give up a red snapper for an unknown. No, this is, this is the song that he needed. He needed to fill 17 seconds of airtime. And so let me get up here. Here we go.

[inaudible]

I’ll set that as my rate, Don, come on now.

[inaudible]

can you explain the rule one more time? What does it mean to not be the hog and business? One more to hog is greed. You know, the pig a good life. I mean, they’re happy. They’re good, little chunky. I mean they’re, you know, they’re, they’re in the mud, they’re running around. I mean, they get, wow. And then we got these wild hogs everywhere, right? You can go wild hog. I mean wild pig, but the hog, he says, you know what? I want a little bit more. I want to be a little bit bigger. I want to be, I’m going to be a little bit more like that. And what happens is that the farmer goes out there, okay, we did some bike and I get that big one over there. We want the big one. And so the hog is the one that gets butchered.

And so it really deals with, with, with the green in business. And it’s a, it’s a fun analogy that I like to use and people can kind of picture it. But what happens is, is that if you don’t pay your people enough, you’re being greedy. Someone else will pay them though they’ll get hired away from you if you’re trying to, you know, if you buy a product and then try to sell it for too much money, so you buy something for $10 and you try to sell it for, you know, 399 it’s kinda like, eh, if you’re successful for a while, people come in and go, wow, I can buy that for $10 and sell it for a hundred you don’t want to be a hog. You don’t want to be a ho. You don’t want to get butchered. And that you see that in an industry

[inaudible] industry [inaudible]

it took, you want to make a profit, you want to have a successful business, you know, but if you’re pricing yourself, you could price yourself out of it. And

could I have found that’s

I was going to be stuck in my head the rest day. Thank you very little. It’s a great

teaching moment. You don’t want to be a hog. Just don’t want to be a hop. You don’t, you don’t want, you don’t want to be a hog. You want to be a pig. You want to be successful. You want to make a good living, you want to make a lot of money. But when you get too greedy, it allows your competition to come in and, and uh, and butcher you. Did you ever watch a Seinfeld? Yeah, I didn’t watch all of his shows and I watched the nuts or Kramer. Oh, of course. Check out this scene from UHF. This is the guy who played a Kramer from, uh, he was in, this was one of his early movies he was ever in. Let me queue it up here. This is from UHF and I think, I think we have audio here. Let’s see here. We’ve got audio.

Welcome back as Downey’s Podolsky’s clubhouse. Are you kids having a good time?

[inaudible]

you want that cartoon? That was a weird cartoon, wasn’t it? You know, that cartoon reminds me of a dream I had last week and I turned into a bird with a candy bar. Then there was, you know, they’re birds, you know, they’re all trying to eat my head and everything, but I got away from them and then, then there was this tree, you know, and there was this weird lizard, you know what button?

Oh, show is so, so glorious and so glamorous. Now our listener has one more question for you, dr Z. Okay. Buying a bank, buying a bank. He apparently bought 1% of the bank. I have no reason to believe he’s making this up, but he recently bought a bank. There you go. And he wants to know, and I own a bank. Can I lend myself money? You own a bank. Can you lend yourself money? What are the rules for buying a bank and lending yourself money? Um, a couple of rules apply. One, every bank has its own lending limits. In other words, they’ll only lend to one person, one entity, so much. Now by law that can be kept by the federal reserve. And I think it’s um, you know, up to 15% at the institutions capital and surplus. But they may not go that that much.

In other words, they say a bank could by law have a loaning limit of $10 million. Right? And the bigger the bank, the bigger that can be because they can, they have, it’s less a percentage of their, their total lending equity, if you will. But they may say, listen, none of that, that’s too risky for us to put it all on one person. Our lending limits going to be like, say 5 million. Okay, now then, whether you own a piece of the bank or not, you’re, you’re bound by that. Now, if you’re on the board and they have a, you know, a board of directors and yet the chairman of the board, and then you have depend on the bank, maybe 12 to 15, 20, however many, if you’re on the board now you have another set of rules that apply to you. Right? And that is now you can only do a certain percentage of that legal loaning limit of the bank.

So let’s say hypothetically, it’s just, just kind of using rough numbers. If the bank’s loaning limited, say $10 million and you’re on the board, um, I forget what the actual percentages, but let’s say it’s 7 million that you can do, right? So you’re, you’re limited. Um, those aren’t maybe exact figures. I could probably look it up and do all the research on it, but just off the hip, that’s kind of the feel of what we’re talking about. So whether you own a piece of a bank, now you can buy some bank America stock and they’re not going to ask you when you go to a loan at bank of America. Oh, by the way, do you want to do a new stock of our, our, no, it doesn’t matter as far as that goes. Okay. Right? Because they have a loaning limit. Now, if you were on the board of directors of bank of America, then you have to play by a different set of rules. All right. So does that, I’m going to read this to you and answer your question. There’s a book called made in America. It might not work. Sam Walton’s autobiography. Yes. And that book, uh,

people will learn a couple of powerful things. One, he was married to a lady by the name of Helen who, uh, grew up in Claremore, Oklahoma and he started Walmart with nothing and built it into something. You overcame a lot of adversity in route to having success.

Well, he had a little something. He had his wife’s daddy’s mama mine, his father,

I believe. Helen’s a father lint Sam Walton $25,000. Yes. Um, to, to get the business going after he essentially lost it. He’d been working on it for, um, not quite a decade and it was like five or six years. I have to go look at my notes. But he had run a business, a Ben Franklin store, a very successfully for half a decade. And then the landlord decided not to renew his lease and to keep all the fixtures and to give it to a family member. Therefore, um, effectively shutting them down and shutting his business down, but keeping the business running. So Sam Walton had built up this huge brand and all this popularity in the town and, uh, the landlord said, we’re not going to renew your lease. And by the way, we’re keeping all the fixtures, fixtures, and we’re gonna let someone else run the store. Uh, not cool.

So Sam Walton had to go back hat in hand to, to his father-in-law asked him for money and he had a lot of growth. Let us sustain to growth. But then something weird happened in a 1961. I want to get your take on this T because Arvest bank is a bank headquartered in Bentonville, Arkansas with branches in Arkansas, Kansas, Oklahoma, Missouri, Sam Walton country. It’s the largest and oldest bank in Arkansas is on the list and is on the list of the largest banks in the United States. It’s almost entirely owned by the Walton family. So 1961, the bank of Bentonville was acquired in 1963. The bank of pea Ridge of pea Ridge, Arkansas, was acquired in 1975. Another bank was acquired in the neighboring town of Rogers, Arkansas in 1984 the bank acquired first national bank of Salem Springs of Salem Springs, Arkansas, and 1986 87 89 91 92 94 97 98 they kept buying banks. Why in the world would Sam Walton want to buy banks and how do you believe that may have helped stimulate the growth of the proven Walmart business model?

Well, I mean bakes one of those things. If you’re in business, it’s, it’s impossible to own a business, to run a business and not use banking services. Just the way it is. Impossible, impossible. This Justin, this just in from our home office off the coast of the Lampoon lagoon. So you have to use banking services. So what you do is you go and you set up a business bank account. You get business checks, you deposit money, you get suckers, you, you, or a toaster, whoo. Get to put the little shoot, a little shoot and you get that little tube, the toaster, you shove the toaster and the two of you just shut me out. Just go to their little toaster. I mean, there’s a few things in life that we need to have. We should have. You better have, and that is a banking, you know, a bank that you use and insurance company that you use.

I mean it’s unsexy as insurance as you still need it is on sexiest banking is you still need it. And so banks are profitable. Insurance companies are profitable. These are, these are businesses that are profitable. So at some point it makes sense for you to say, it’s kind of like this. When I first started off, I had a CPA that didn’t work for me on my payroll, but yet I used his services and then I got to a point where I got large enough to where I thought, I’ll just hire my own CPA. You fall on me, I’m following. Make sure you’re, you saying banking or you saying

I’m Sam peacock [inaudible] doc three sour component three sour. Who is Pankey fry grill? Fried grill. Oh, you’re talking about how you want your skylight

white rice or are you saying banking? Yes, I’m saying banking. Yes. And so at some point in my life I thought to myself, well, I’m going to use a bank. I might as well make some money on all the loans. I’m somebody’s gonna make money on them. I’m borrowing men’s closing time. Someone’s closing these loans, someone’s making money closing time. So I thought, well, that is a, that is a one business that I could not be a majority owner in and still feel good about it with all the federal regulations as feds, command mode, check their check. They’re checking you. I’m telling you what, they’re looking underneath the hood. They come on in there and they said, listen, please ma’am, when did you say your files? When you said we need you to lie, you need to line up right here and down and I was right here in order right here.

Tell us he ain’t using it. I’m fricking shortening your files because we’re going to look, we’re going to get them files. We find something wrong. You got, you got to hick pay, you got to pay. I’m taking room coffee in her lap. What is that? Is that a diet Cola on your desk? What’s going on here? Talk to me about the ethics of this real quick. Why are in your mind sugar-free suckers? Unethical? It’s, you know what it’s, it’s like the, it’s like the pretty girl that won’t kiss you. It’s like Vanessa on all those dates. It’s like the married pretty girl who won’t kiss you. That’s, that’s, that’s what it, that’s what it is. It is. It’s, it’s a, it’s a bait and switch. It’s like marital cheese take. You’re getting this and you ain’t getting there. It’s wedding night abstinence it, that’s what it is. And it’s ridiculous. That’s an analogy. You can put that into it. That’s what, that’s bad. It’s like give us over to Tosha. That doesn’t work. I mean, really, that’s like really hate. It’s wedding night. Now it’s time for us to consummate this relationship by you not having sex. That’s what a sugar free suckers like. No. Will you just watch reruns of Seinfeld though? Cause we’re both really tired. Um, okay.

So, so it’s one of those deals where I thought, well, I’m going to use a bank. I need a bank. I been using banks might as well own a little piece of a bank come on. Right. Might’ve owned some of the banks, but then the profit that they make off of me and all my friends and sphere of influence that I could bring to the bank. Yup. Then I can profit on that. And that’s why it made sense to me because normally I don’t buy a business or I don’t start a business that I don’t own the majority of that I can’t control. I’m not a, I’m not a control freak, but I just know that I just, I just know giving my

money to someone and saying, here it go. Good luck. Go get ’em tiger. I’m just not that guy. So let’s do this. I’m going to keep your favorite song that you like to, uh, you have your two songs you like to play at region bank. Okay. But this, this first song was [inaudible]. It hasn’t become the theme of Regent bank yet, but it’s more of a, it’s more of one thing you like, you love closing time at region bank. I do. Can you explain what it means to close a loan? Close a loan means that you actually funded. The loan is finished. It’s been done. You, you,

you finished all the papers, you finished all that and there we go. Yeah. Oh yeah. Tell us about it. That’s when you make your Mondays. You don’t make no Mondays till you close the closing time. All the rest of it’s this Dayton, this date, and just kind of got fired up to a little bit texting, you know, Hey, what are you doing? Oh, what are you doing? I don’t know what’s going on this Friday. I don’t know. You want to go out and maybe get a cup of coffee or a sugar sucker or sugar. I said, you’re free to sucker. So get a diet Cola. Next time someone offers you a sugar-free sucker, just to understand what that means. Throat punch up the real meaning. Just throw, punch them another day. They grew up, they like you, but they don’t love you. That’s the likeness,

love move. Do you feel, I mean, when you, I have audio that I believe is, um, how you feel when you go into Regent bank. Oh yeah. And I just want to know if this is how you feel because there’s gotta be, when you first realized that you were a 10% on a road bank, I mean, did you feel, did you feel good about it? And you’re saying you’re in your soul. I mean, did you feel good about it? I, yeah. Oh yeah. Oh, seriously. Oh, it’s like a sucker was sugar lemme kill the audio. This is up to region bank. When you first realized that you were on the board, I believe, and it’s, I started off on the board and then I went off the board and you were, you were getting out of your, uh, Porsche and you were feeling, you were feeling like the mayor of your own town, like the governor of your own state, at the King of your own castle president, yet the King of your own castle, the president of the United States. You are feeling like mr universe, you are feeling intergalactic.

Let me queue it up. Oh, Z. Tell us how it feels to own 10% of a bank. Come on. Come on. Tell us. You want to know it’s twice as good as owning 5%. I mean, right now it’s 10% more than owning 1%. Oh, it’s only half as good as 20% but it’s still, Oh, so good. So good. You rolled in there with your, a you brought in your, your, it was like the, um, what was it? Dios cardboard and you brought us up some golden box and my shoulder boombox boys. This is how it’s going to go. No more sucker free. No more. No more sugar-free suckers. Come on. We’re giving toasters that actually work. Come on over. Come on now. Oh, did you, did you change the bathrooms into the core was your biggest change? Oh yeah, I changed those colors. I lighten them up a lot. Oh my gosh. You are intergalactic there. And I believe region bank is

grown. When you guys first bought the bank of no water. Yes. Uh, it was valued. That was at $7 or what was it? Were were, well, one of the ways that it’s is that this isn’t the value of a bank, but one way you could tell the size

of the bank and therefore you could kind of reverse engineer. Okay, well we bought, it was around 70 some odd million in deposits and assets and all that good stuff and now I think it’s a, we’re pushing 700 million.

Did you say $700 million? I didn’t look that up.

I don’t even know my own. My own bank. This Justin. If you have $700 million of deposits, things are going well.

Final business coach question for you, then I’ll let you get back to what you do. Dr Z. Boy, you just hit the banks here. We have a Christmas, a party coming up here on Saturday, December the 14th yes, at the tallest building in Oklahoma before the guys at Devin energy cheated because we have a 60 story tower. Yes, their tower has less floors, but it has the little needle on the top needle on the top. They needle us. That’s ridiculous. They’re, they’re compensating for something over there, but we’re at the real red. The tallest building in Oklahoma and we’re there and there’s going to be about 400 people there. It’s going to be sex line, fine food, uh, DJ Aubrey, my son will be there. You’ve looked at it. We’re getting back working on the playlist together and the rock. That thing about your dance moves your, your strategy. Um, what you have, I’m going to walk us through the mountain of preparation.

I am going to publicly announce for the first time that I feel bad because I have dominated set event since the beginning of Christmas parties and I’m not sure how much of the voting is due to the fact that I’ve just handed out or I’m getting ready to hand out 40 to $50,000 in gifts and prizes and, and vacation, various things. So I, I would, I am doing, this year is the first year that I am stepping down from the contest. I am, I’m going to, I’m going to open it up. I’ll be one of the judges and I think that, you know, I mean Michael Jordan stopped playing the Olympics after a while. I mean come on. I mean everybody, everybody knows their time to step down and not to shine. And so I just think it’s, yeah, it’s time to pass it onto the kids. I’m going to open it up. We’ve got a lot of great up and coming dancers and I just, I just feel like this is the year that I’m probably going to do that. Now. I could get enough liquid courage in me to say [inaudible]

dad forget about.

But I doubt that. I think, I think it’s time to pass the Baton and instead of being beaten by some young hot shot, right. I’ll just gracefully go into the sunset and turn it over and let the new chapter of dance champions take place.

I’m going to cube audio of your retirement, um, speech you’ve been prepping here recently. I think you just did it. No, no, no. There’s audio. Where were you actually in the, you’re in the locker room or the locker room. You’re practicing it. And I’m going to up the audio of what you have planned to say and let’s just see if this is true.

Uh, as you guys might expect, this was my last home game. [inaudible]

the crowd was to keep the crew, the crowd, you, he took you to simulate a mixture of classes. They’re like, yeah, don’t Kevin come back now. Here’s the look where the tear moment is. It’s like you’re, you’re trying to tell the people you’re not going to do this anymore. Or the cheers like we want one more. One more here. You sound oddly German here by the way. Why? Yeah, so let’s, let’s get into the meat of that. I get emotional. I get an accent. That’s just, that’s just me. It’s, it’s natural. Here it is. This is where you started.

Hmm.

I’m trying my yoga breathing, but it’s not really working.

You’re no. Well,

so you did a fine job on this pre-retirement speech. Thank you. I worked a long time. Hello. All right. Well if you’re out there and you’re thinking about building the moat, locking in your future by purchasing referral sources or buying a bank, hopefully that was the knowledge that you need, that you do not get in college. My name is clay Clark. I’m a business coach. That’s dr Zellner. He’s an entrepreneur trapped inside an optometrist body, and we have to in each and every show with a boom, and if Z, if you’re prepared psychologically, let’s end this thing with the boom

three, two, one, boom. Oh, you’re serious about growing your business. Do you want to save yourself a bunch of time, money, and headaches? Well, with this situation requires this for you to take some massive action. It’s time for you to sign up for the world’s most affordable and effective education for entrepreneurs today at thrive time, school.com.

That’s [inaudible] dot com sign up today at [inaudible] dot com I dare you.