Latest / The Mobilization Mindset / Episode 164 | Construction Subcontractor Contract Terms That Protect Your Cash Flow

Transcript

Episode 164 | Construction Subcontractor Contract Terms That Protect Your Cash Flow · The Mobilization Mindset

• 0:00
  SPEAKER_01: 45 days can turn into 55 days real quick or more.
• 0:04
  SPEAKER_01: Yeah.
• 0:04
  SPEAKER_01: So one thing that I would implement is have a total understanding of the approval process when you submit your work.
• 0:11
  SPEAKER_01: And number two, add into the language if you pay more than 45 days, or maybe it's more than 47 or 49, make a threshold and start charging some sort of incremental approval.
• 0:30
  SPEAKER_00: Welcome everybody to the next episode of the mobilization mindset.
• 0:33
  SPEAKER_00: My name is Scott Pieper, CEO and founder of mobilization funding, and today we're going to be talking about construction contracts.
• 0:40
  SPEAKER_00: Drew and I are going to get into a couple things that you can do to significantly improve your ability, especially in a crisis, but even in the everyday negotiations around a construction project.
• 0:52
  SPEAKER_00: When you and your GC or your prime are going back and forth and things pop up, certain terms that you include or don't include inside your contract can make all the difference in what your options are and ultimately what hands you have to play and things you can do to improve or hurt yourself.
• 1:09
  SPEAKER_00: Remember, you can find these videos and lots of others on our website at mobilizationfunding.com and our YouTube channel, Mobilization Funding.
• 1:17
  SPEAKER_00: In the meantime, let's get right into it.
• 1:20
  SPEAKER_00: Drew.
• 1:20
  SPEAKER_00: Here we are again.
• 1:21
  SPEAKER_00: Welcome.
• 1:22
  SPEAKER_01: Another day.
• 1:23
  SPEAKER_00: Yes.
• 1:23
  SPEAKER_00: Another podcast.
• 1:24
  SPEAKER_00: All right.
• 1:25
  SPEAKER_00: I'm going to start with you today.
• 1:26
  SPEAKER_00: We're going to jump right into the code.
• 1:27
  SPEAKER_00: Okay.
• 1:27
  SPEAKER_00: All right.
• 1:28
  SPEAKER_00: A lot of contractors, here's a question from the audience.
• 1:30
  SPEAKER_00: A lot of contractors think the only way to fix cash flow is to borrow more or find extra cash.
• 1:37
  SPEAKER_00: But you'd but you'd argue some of the most powerful cash flow tools cost nothing and never touch a lender.
• 1:42
  SPEAKER_00: What do you mean by that?
• 1:43
  SPEAKER_01: Yeah, I mean, first off, we talk a lot on this podcast about designing a system around constraints.
• 1:50
  SPEAKER_01: And that starts in the very beginning of bidding a contract or even when you win it when win the contract and you're negotiating the terms.
• 1:57
  SPEAKER_01: So yes, there are opportunities to bring in lending partners to help you complete a project, and the list goes on, right?
• 2:03
  SPEAKER_01: But when you're negotiating with your GC, there are certain levers you can push and pull in order to improve your circumstances as it relates to cash flow.
• 2:13
  SPEAKER_01: So the first thing I would say for our subs is say no or get rid of paid if paid terms with your with your general contractor.
• 2:23
  SPEAKER_01: All that does and all your contract all your GC is doing for you is transferring the credit risk from themselves and their customer down to the subs.
• 2:34
  SPEAKER_01: Right?
• 2:34
  SPEAKER_01: I mean, would you I mean I would say a lot of the uh projects that we see actually go south are paid if paid terms from the GC.
• 2:44
  SPEAKER_01: Yeah, or paid when paid.
• 2:45
  SPEAKER_01: Yeah.
• 2:45
  SPEAKER_00: So I would say you're right.
• 2:47
  SPEAKER_00: Paid if paid is bad, paid when paid is also bad.
• 2:51
  SPEAKER_00: But let's just say, for example, you're gonna sign contracts that say both of that because that's what the GC signed up for, and they have to pass those terms down.
• 3:01
  SPEAKER_00: Sure.
• 3:01
  SPEAKER_00: So I think one of the things you need to do first and foremost is because you're oftentimes agreeing as a subcontractor to terms that are in the general contractor's agreement with the owner, you should always ask for a copy of the contract between the general contract and the owner.
• 3:17
  SPEAKER_00: Because if you're gonna agree to those terms, which aren't inherently baked into your subcontract agreement, they just state, hey, you're agreeing to any terms that are coterminous with the contract between the GC and Prime, or I'm sorry, the GC Prime or the owner, you need to know what they are.
• 3:33
  SPEAKER_00: So in order to know what they are, you need to know what the contract is.
• 3:35
  SPEAKER_00: Now, they may black out the pricing and they may black out certain terms that aren't applicable, and that's okay, but you should have that.
• 3:42
  SPEAKER_00: The second thing I think it's important, if you sign paid if paid or paid when paid, give yourself some flexibility if you're not paid by certain time frames, that you have some rights, like you can stop work, or you can walk off the job, or you can stop working until a certain period of time, or you can send notices.
• 4:05
  SPEAKER_00: Give yourself some flexibility.
• 4:07
  SPEAKER_00: If you have a term, for example, that says paid if paid or paid when paid, and you also have agreed to a term that says that if you abandon the job, you're considered fired and terminated.
• 4:20
  SPEAKER_00: And if you're given or directed work, you have to do the work.
• 4:23
  SPEAKER_00: You now are just they you now have an you're an open checkbook of of costs and expenses that you're gonna have to incur your own labor, your payroll, everything else, while someone else that you can't even partake in decides when and how people can get paid.
• 4:35
  SPEAKER_00: You gotta give yourself something.
• 4:37
  SPEAKER_00: And like that means, okay, I'll be paid when paid, paid if paid, but after 45 days, I have the right to stop work.
• 4:45
  SPEAKER_01: Yeah, and that goes back to that sort of yes-if mentality, right?
• 4:49
  SPEAKER_01: Another thing I would add, if you have a lot of our subs will say, we have great relationships with our general contractor, right?
• 4:55
  SPEAKER_01: And maybe it is paid when paid, paid if paid structure.
• 4:59
  SPEAKER_01: Well, ask your GC have you ever worked with this owner before?
• 5:02
  SPEAKER_01: Have they typically paid on time?
• 5:04
  SPEAKER_01: To get an understanding of your own project cash flow, and you might be able to stretch out your ability to stretch out those days before you get paid if you at least have the wherewithal and understanding of generally how quickly will I get paid under normal circumstances between this GC and this operator or this owner, right?
• 5:22
  SPEAKER_01: So then you can plan your financing sources, or hey, I need to retain this much cash in my operating account in order to fund this project.
• 5:29
  SPEAKER_01: Or, hey, guess what?
• 5:30
  SPEAKER_01: I'm not going to take that other low margin job just to get in with that new GC.
• 5:35
  SPEAKER_01: I'm going to focus on doing good work for this GC that I've worked for many, many times over.
• 5:39
  SPEAKER_00: No, you're right.
• 5:40
  SPEAKER_00: And that that all goes along with know what type of risk you're accepting when you start to do the job and make sure you're adequately being paid or compensated for that risk.
• 5:51
  SPEAKER_00: So, for example, if you have a lower margin job because it was very competitively bid and it was a customer you wanted, great.
• 5:59
  SPEAKER_00: There's nothing wrong with that.
• 6:01
  SPEAKER_00: Okay, but don't also make it your most risky job, hardest to produce, longest lasting to get paid, where you're just gonna get crushed on your margin and you don't have the cash flow, and now you put your whole business at risk.
• 6:11
  SPEAKER_00: So just know what those risks are.
• 6:13
  SPEAKER_00: And I think what you said right there is very um accurate in that know what the risks are, assess them up front, make any type of yes-if comments and statements, which I know we're gonna touch on in a second, and then proceed further, but don't go in blind hoping and praying.
• 6:29
  SPEAKER_01: Yeah.
• 6:30
  SPEAKER_01: Another uh thing that that I see over and over again is a lot of the subs that we talk to will have payment terms, say 45-day payment terms.
• 6:39
  SPEAKER_01: Well, what is that defined as?
• 6:42
  SPEAKER_01: Is it defined as when the invoice or the pay app is approved and it's 45 days from there that they're supposed to get paid?
• 6:49
  SPEAKER_01: Okay, if that is the case, then how long after you submit your pay app or invoice does it take to actually approve that pay app or invoice?
• 6:57
  SPEAKER_01: Because 45 days can turn into 55 days real quick.
• 7:01
  SPEAKER_00: Or more.
• 7:02
  SPEAKER_01: Yeah.
• 7:02
  SPEAKER_01: So one thing that I would implement is have a total understanding of the approval process when you submit your work.
• 7:09
  SPEAKER_01: And number two, add into the language if you pay more than 45 days, or maybe it's more than 47 or 49, make a threshold and start charging some sort of incremental accrued interest on that particular payout for not being paid on time.
• 7:24
  SPEAKER_01: Have you seen that happen before?
• 7:26
  SPEAKER_00: I think you could try to add it, certainly.
• 7:28
  SPEAKER_00: You may not be able, they may not agree with it, but what it might do is might trigger a conversation of something they can agree with.
• 7:33
  SPEAKER_00: Right?
• 7:34
  SPEAKER_00: And if you put things like that in there, then you maybe get something else that you you wanted also.
• 7:38
  SPEAKER_00: So you may be able to go into the go into the negotiation asking for 10 things, five of which you're more than happy to give in on, so you can land on the five that you actually need.
• 7:49
  SPEAKER_01: And let's get into how you ask too.
• 7:52
  SPEAKER_01: Like typically the the approach is not, hey, I'm gonna go demand these three or four contract language, these stipulations.
• 8:00
  SPEAKER_01: If you do good work and you're consistent in your work and you have a reasonable relationship with the general contractor, go in with things that are important to you, maybe in order, and explain why it's important to you, not just to you, but also getting the work done for the general contractor.
• 8:17
  SPEAKER_01: If you agree to this, general contractor, this puts me in a position where I can execute this, this, this, and this in a fashion that meets your exceeds your expectations.
• 8:27
  SPEAKER_00: Yeah, maybe that's performance, maybe that's the amount of crew labor they want on, maybe that's the timeline for getting equipment that you're using that maybe someone else could use too, or maybe it's timelines for material to be delivered.
• 8:42
  SPEAKER_00: If they could do that, you can get the material delivered.
• 8:44
  SPEAKER_00: Like find something that they need and use it to help you negotiate back and forth.
• 8:48
  SPEAKER_00: So you're benefiting the project and yourself.
• 8:50
  SPEAKER_01: Yeah.
• 8:51
  SPEAKER_00: You know, the other thing I think is really important to put in contracts is when a change order is issued, or when there's a change to the contract, how you're going to bill for that.
• 9:06
  SPEAKER_00: Even if you can't agree on if it's a change order or not a change order, you can agree up front on what you will charge for the work you do when a change order is issued.
• 9:18
  SPEAKER_00: So you don't, so at least you can minimize the okay, you're always gonna have a debate is this a change order or not a change order of scope.
• 9:24
  SPEAKER_00: But at least there doesn't have to be a negotiation about how you're gonna charge for it when there is.
• 9:28
  SPEAKER_00: Oftentimes you're in the negotiation for a change order and you're debating on whether it can it is a change order or not, and you're also negotiating the price you're gonna charge for it at the same time, and it adds a lot of stress to the whole environment.
• 9:43
  SPEAKER_00: Whereas if you negotiate up front and you're very clear with here's what's gonna happen if a change order occurs, this is what I'm gonna charge, this is the percent I'm gonna charge, this is the hourly rate I'm gonna charge, this is how I'm gonna calculate hourly rates, whatever it may be that you're gonna do, put it in there and be clear and specific, and it will save you a lot of stress.
• 10:00
  SPEAKER_01: I mean, it's defining what change order is in the initial contract, right?
• 10:03
  SPEAKER_01: I mean, they're obviously building in contingencies into the contract, and in a lot of ways the subs are having to foot.
• 10:09
  SPEAKER_01: Just they they build in a contingency in there.
• 10:11
  SPEAKER_01: But if it's uh uh above and beyond what that contingency or that sort of uh pool of work that you put over to the side and say, hey, this could happen and you know we're gonna eat this.
• 10:20
  SPEAKER_01: This is due to our efficiencies, this is an actual change order.
• 10:24
  SPEAKER_01: Define that up front and then uh agree to get paid on what you build versus what was eventually approved, right?
• 10:32
  SPEAKER_01: I mean, that's that's what I would say.
• 10:34
  SPEAKER_00: Just provide more clarity around what it is you're talking about in every capacity and try to get it in your contract.
• 10:40
  SPEAKER_00: Yeah.
• 10:40
  SPEAKER_01: What are you what are some unique ways?
• 10:42
  SPEAKER_01: Because a lot of a lot of the I mean, really good companies, really good contractors who are generating a lot of profit, where their cash flow really gets smoked is if they're doing a ton of jobs at one time and then they have a ton of retainage built up, right?
• 10:55
  SPEAKER_01: What are some strategies that some of our customers and some of the you know subs out there could could implement in order to mitigate the cash flow challenges associated with you know typically 10% retainage on their jobs?
• 11:08
  SPEAKER_00: Well, the the most important or I think the most effective one you can have is you gotta be super disciplined as you're growing your business to keep the cash in the business.
• 11:17
  SPEAKER_00: Because you have it the more you grow, the more that retainage is gonna impact you until you start to get in the payment of retainage cycle.
• 11:24
  SPEAKER_00: So once you start doing work, and let's just say it's a year before you get paid, right?
• 11:28
  SPEAKER_00: Your retainage.
• 11:29
  SPEAKER_00: So you got to do the work, maybe it takes six months to do the work, then you bill for your retainage or the project finishes a year later.
• 11:36
  SPEAKER_00: Now everyone can bill for the retainage and it takes three or four months to get.
• 11:40
  SPEAKER_00: Let's just call it a 12 to 14 month cycle from the time you finish work.
• 11:44
  SPEAKER_00: And let's say it takes six months to do the work.
• 11:47
  SPEAKER_00: So that's 18 months.
• 11:49
  SPEAKER_00: Well, as you're growing and you're growing your business and you're finishing work and that retainage is starting to stack up, at the 18th month mark, you're gonna start getting paid that first retainage check.
• 12:00
  SPEAKER_00: And then you're gonna get and then you're gonna have finished projects every single month over that last 18 months.
• 12:05
  SPEAKER_00: So now you're gonna get in the cycle where almost every month you you should have been finishing a project.
• 12:09
  SPEAKER_00: Now every month, 18 months later, you're gonna be getting a retainage check.
• 12:13
  SPEAKER_00: If you can weather that storm and stay very disciplined in keeping as much of that cash in the business, and when the retainage comes, you keep that cash in the business.
• 12:22
  SPEAKER_00: You're going to be able to withstand and pay for your own growth and your own burdens where you have to wait 45 days or 60 days.
• 12:32
  SPEAKER_00: It's when that cash comes in that you pull it out, or you use it for another job, or you're weren't running your jobs properly and it has to fill a gap.
• 12:41
  SPEAKER_00: That's the best way to mitigate managing a big retainage check.
• 12:46
  SPEAKER_00: Now, if you didn't do that, okay, great idea, Scott.
• 12:48
  SPEAKER_00: Wish you told me that 18 months ago, okay?
• 12:51
  SPEAKER_00: The next best thing you can do is start now.
• 12:54
  SPEAKER_00: The second best thing after that would be to get help.
• 12:58
  SPEAKER_00: Figure out a tool, a lender, a family member, someone that can help you be very disciplined with how you're gonna manage your cash flow on each job and manage those cash flows and what you're gonna do with each form of cash you have, and then implement the same discipline at the point you're in now, and then work towards the next two or three years, doing the projects you can, incorporate the ones that turn quicker, and keep all that money in the business so that you can get to the three, four, five-year point, and you'll be shocked at how much cash you've accumulated inside your business effectively doing the work you're doing.
• 13:30
  SPEAKER_01: There are certain things in construction, and this goes for really any industry for that matter, where there are rules.
• 13:36
  SPEAKER_01: There are, you know, rules to the industry, and retainage in construction is one of those rules, right?
• 13:42
  SPEAKER_01: But the cool the great thing about that rule is it's very predictable.
• 13:46
  SPEAKER_01: And what a lot of construction companies do is they will try to solve for that retainage on the back end and say, hey, do you do you guys advance against retainage, for example, right?
• 13:56
  SPEAKER_01: Well, no, not exactly.
• 13:59
  SPEAKER_01: But if you think about retainage in the very beginning of the project and consider the cash flow effect of that 10% over time, you can actually solve that problem in the beginning of the contract because there's cash in your operating account that you may not necessarily have to put on the job, which could be 10%, which is your retainage amount, but you're getting ahead of it.
• 14:20
  SPEAKER_01: Does that make sense?
• 14:21
  SPEAKER_01: So you're actually getting ahead of the problem, not at the time that may make the most logical sense, but if you design that system around it, you can actually mitigate the risks associated with that on the front end.
• 14:32
  SPEAKER_00: Correct.
• 14:32
  SPEAKER_00: Well, here's a good example.
• 14:34
  SPEAKER_00: Remember in the beginning of this podcast, we started talking about retainage being held, right?
• 14:38
  SPEAKER_00: And then we talked about your contract terms that you're agreeing to with the GC, and the GC has with the owner.
• 14:45
  SPEAKER_00: And we get talked about getting a copy of that contract, okay?
• 14:49
  SPEAKER_00: Well, what if in the copy of the contract the GC, who always negotiates pretty s pretty hard with their owner, has that 50% retainage gonna be released to them when 50% of the project is done?
• 15:01
  SPEAKER_01: Yeah, I was gonna go on milestone-based retainage.
• 15:04
  SPEAKER_01: Is that a possibility?
• 15:05
  SPEAKER_00: Well, it certainly is, but what if the GC has already negotiated 50% release of retainage when 50% of the project's done?
• 15:11
  SPEAKER_01: Sure.
• 15:12
  SPEAKER_00: Or at certain milestones of um, you know, percent complete or substantial completion or certain floors, and you don't know that.
• 15:21
  SPEAKER_00: But the so the GC actually has the ability to have retainage released, therefore you do too, but you don't have a copy of their contract, and the GC just is gonna hold the retainage because they can in your agreement, and you don't have any dent you don't know any difference.
• 15:33
  SPEAKER_01: Aaron Powell It's probably a silly question, but uh isn't it aren't you aren't subs allowed, isn't it by law GCs need to share the agreement that they have with their owners in a lot of states with their subs?
• 15:47
  SPEAKER_00: Isn't that a certainly um it's not a law if it and now it's a law if it's uh a public project or federal project freedom of information, yes.
• 15:56
  SPEAKER_00: Um some states may have the same law.
• 15:58
  SPEAKER_00: But at the end of the day, if you're agreeing to terms as in your subcontract agreement that are aligned to whatever the GCs agree to, then you have every right to have that copy of that contract so you know what you're actually agreeing to also.
• 16:12
  SPEAKER_00: The highest risk that some subs have is they're agreeing to terms that the GCs agree to with the owner, and so therefore they've agreed to those same terms with the GC without knowing what they are.
• 16:23
  SPEAKER_01: Yeah, yeah, that makes total sense.
• 16:25
  SPEAKER_01: You want to make sure that your terms are aligned to the GC's terms of their owners.
• 16:28
  SPEAKER_00: Yeah, and so by having that, you know, okay, well, they've already negotiated 50% retainage release, then you want to have the same term in your subcontract agreement.
• 16:36
  unknown: Yeah.
• 16:37
  SPEAKER_00: The other thing I think is really important is spending a couple hours of your attorney's time to review your contract and submit red lines back to your GC.
• 16:47
  SPEAKER_00: One, it shows the GC that you're on top of it, you're negotiating.
• 16:52
  SPEAKER_00: They'll they'll pull certain things out of there in languages that you won't even pay attention to, like the indemnity language, um rep representations and warrants that you might be agreeing to that you don't really know.
• 17:03
  SPEAKER_00: They'll get certain terms in there that will really help you, especially in a crisis.
• 17:08
  SPEAKER_00: And what's a crisis?
• 17:09
  SPEAKER_00: Crisis is you got you and your GC are in a big dispute and a big fight.
• 17:12
  SPEAKER_00: One may sue the other.
• 17:14
  SPEAKER_00: Having your attorney work around those certain four, five, six terms that are um no problem for the GC to agree to on the front end will substantially help you if you ever get into laws.
• 17:27
  SPEAKER_01: I mean, that's life in general.
• 17:29
  SPEAKER_01: To take the to take the preventative measures in the front end, which cost money, is hard to swallow sometimes, but it can save you a ton of pain in the long run.
• 17:38
  SPEAKER_00: Absolutely.
• 17:39
  SPEAKER_00: All right, last question.
• 17:41
  SPEAKER_00: We meet we talk about the yes if method around here, right?
• 17:45
  SPEAKER_00: And a lot of our subcontractors have implemented that with their GCs.
• 17:49
  SPEAKER_00: What is the yes if method?
• 17:51
  SPEAKER_01: The yes if method, and I I could apply it to here at Mobilization Funding, you can apply it to really any form of communication with anybody you're negotiating with, is if they come, if you if the counterparty comes up to you and and and puts out a term or a condition that's not ideal for you, don't automatically say yes because you're afraid to say no or no because you're not thinking it through.
• 18:13
  SPEAKER_01: Say, yes, I could I could do that for you if, and then have a contingency on the other end.
• 18:19
  SPEAKER_01: Because we all know not one thing, most of the time, not one thing is gonna make life really hard for you.
• 18:26
  SPEAKER_01: Not one thing is gonna take your company down or the project down.
• 18:30
  SPEAKER_01: But if you truly understand the risks and and the associated actions you can take to protect yourself widely and know the whole picture, you're gonna know that one or two or maybe three of the conditions in any negotiation is not gonna fit uh what you're looking for 100%.
• 18:48
  SPEAKER_01: But as long as you know, hey, here's my threshold, yes, I can do that.
• 18:53
  SPEAKER_01: It's not ideal, but I can do that.
• 18:55
  SPEAKER_01: However, if you do this, this, and this for me, because that can then mitigate the risks associated with that, yes.
• 19:01
  SPEAKER_00: Yeah, and I'll give you a good example.
• 19:03
  SPEAKER_00: We just had a contractor last week or last month, it was a roofing contractor.
• 19:09
  SPEAKER_00: They were getting ready to do, they were doing a school and they had to re-roof the school.
• 19:12
  SPEAKER_00: Of course, they want to re-roof the school while the school's out or during the summertime.
• 19:15
  SPEAKER_00: Well, they got a late start of to the summer, about a month late.
• 19:19
  SPEAKER_00: So they were asked by the prime, can you get multiple crews out here and accelerate the schedule?
• 19:25
  SPEAKER_00: A very common ask of the GC to a sub.
• 19:28
  SPEAKER_00: School starts on such and such date, they want the roof done, boom.
• 19:32
  SPEAKER_00: And the subcontract said, yes, I can do that if I mean it's gonna require me putting two or three extra crews on, and I can do it if you allow me to be able to bill every two weeks instead of every month.
• 19:45
  SPEAKER_00: And what is that gonna do?
• 19:46
  SPEAKER_00: Well, it means they only had to float two weeks worth of labor until they're in the cycle, and that way they didn't have to float a month and then wait another month to get paid.
• 19:55
  SPEAKER_00: And by doing that, it allowed them to float those extra periods, get it paid, and they were able to knock it out.
• 19:59
  SPEAKER_00: And it worked great for the GC.
• 20:00
  SPEAKER_00: GC asked up front, the school said sure, no problem, bill us, bill us every two weeks.
• 20:05
  SPEAKER_00: They didn't care how many times they got billed, they just wanted it done, and that was it.
• 20:08
  SPEAKER_00: And everybody was happy.
• 20:10
  SPEAKER_00: But if you just agree to it, there's a good example of not getting what you need, and now you put yourself in a pickle, but they were able to get it done.
• 20:17
  SPEAKER_01: Yeah, I mean I see the I see the payment term sort of shortening up in the yes if scenario as well, especially if they're wanting you to expedite the work.
• 20:24
  SPEAKER_01: Well, if I'm gonna do double the work, I need to get paid in half the time.
• 20:27
  SPEAKER_00: Yeah, and the beauty was they couldn't shrink the payment cycle down actually from 30 to 15 days.
• 20:32
  SPEAKER_01: Oh, they didn't?
• 20:32
  SPEAKER_01: Okay.
• 20:32
  SPEAKER_00: But what they allowed them to do is if you bill every two weeks, you still had a 30-day payment cycle instead of having to wait.
• 20:38
  SPEAKER_01: Got it, got it.
• 20:39
  SPEAKER_00: They got they were accelerated and extracting billing more often.
• 20:42
  SPEAKER_01: You are in turn making that first two months less painful.
• 20:45
  SPEAKER_01: That's exactly right.
• 20:46
  SPEAKER_01: Because you're getting into that cycle 15 days quicker.
• 20:48
  SPEAKER_01: That's right.
• 20:49
  SPEAKER_01: Essentially.
• 20:49
  SPEAKER_01: Exactly.
• 20:50
  SPEAKER_01: Yeah.
• 20:50
  SPEAKER_00: Yep.
• 20:51
  SPEAKER_01: Yeah, I think we covered it, Scott.
• 20:53
  SPEAKER_00: Me too.
• 20:54
  SPEAKER_00: All right, everybody, I hope you enjoyed it.
• 20:56
  SPEAKER_00: Please share the video, share the share the podcast, whether you're on audio, video, YouTube, share with friends, share with family, share with people you know, share with anyone that can help you.
• 21:06
  SPEAKER_00: More importantly, use it yourself.
• 21:08
  SPEAKER_00: Try these techniques, try these tactics, find others on our YouTube channel and our website at mobilization funding.
• 21:15
  SPEAKER_00: And until next time, have a great week and God bless you.