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club house media presents from

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this is the class com sweet our involve

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i'm frankly same bringing you the best

1:01

systems confusing from around the world

1:06

the minute he be more of you aren't welcome back the cloud

1:08

cast weird committee lived in a massive club

1:10

cast it is here in raleigh north carolina august

1:13

, to wrap up up that

1:15

and good month and of and the summer if

1:17

you will for most people i know some are technically

1:19

i goes on a little bit more about three more weeks a summer

1:22

but the end of summer for most people

1:24

kids are gone back to school here for a lot of ebola

1:26

the next week for myself monday for an eye

1:28

on monday an good to go back good school

1:31

wanna talk about today

1:33

to started persecute show wanna talk level about

1:35

kind of a a shift we see i'm

1:37

in a both the obviously you know and in

1:39

the economy was seen something slowing down with scenes

1:42

are some companies have been slowing down

1:44

with retiring or or of funding

1:47

or enough starting new project since i'm a that

1:50

we've seen your the i think that we sort

1:52

of measure sometimes we try and do two things we

1:54

try and oh look

1:56

at the data that out there that gets

1:58

reported and i think that measurable

2:00

and so on and so forth but then we also sort of try

2:02

look at some trends that we see as

2:05

people try and make requests to come on the show

2:08

and you know we we we get a lotta

2:10

request not a humble bravely lot requests

2:13

arm and we we can only cover

2:15

so many slots on the show but one of the things that are interesting

2:17

to watch his had a change in

2:19

tone that happens in request

2:21

to come on the show a lot of issue people it

2:23

did come on the shower that request to come on the show obviously

2:26

from obviously tech industry but it's interesting to sort

2:28

of watch the tone of you know how

2:30

they pitch what their what

2:32

they're talking about an obviously we're we're trying to find

2:34

things that are gonna be interesting to you but

2:37

it's interesting to sort of watch the change in tone

2:39

from reading , sword bullish

2:41

since you know everything's great

2:43

to hey let's to hey talking

2:45

about some things that

2:47

are art and was a more prohibitive but

2:49

are more pragmatic if he wealth

2:52

of and one of the interesting her

2:54

pitches that i have gotten quite a few of lately

2:57

have been around this topic of you

3:00

know how are you you know there's been a

3:02

lot of spending in in i

3:04

t and r spending around software and

3:06

around dev opposite around different things and

3:10

a lot of companies are coming back and at least

3:13

an attached and i see the some

3:15

what is in a cast company's coming back and saying

3:17

hey we , a lot of money on

3:19

a lot of things ah maybe we didn't

3:21

necessarily during really good

3:23

times or when economic times

3:25

worse and a booming our interest rates are low

3:28

wouldn't necessarily always do the best

3:30

health costs justifying them because the cost

3:32

of doing them was fairly low low

3:35

to a lot of things i'm in a but

3:37

as interest rates go up or seen

3:40

a prospectus on the business changed priorities changed

3:42

how do we go about justify me thinks especially

3:45

if you've never nestle gone through this justification

3:48

so what i thought i'd do today a little bit

3:50

of and this show make it a little last sort of

3:52

some economically and accounting wise

3:54

wonky ah be ah little more

3:56

about kind of counting things as opposed

3:59

to the technology we that are but if alex

4:01

or dig through how companies

4:03

tend to do this when when times

4:05

are in the in a super boom you know

4:07

one percent interest rates are things and when

4:09

things start to change into rates go up

4:12

in what that means from a company perspective

4:14

and what it means for your business or the people

4:16

that sell to you or you're trying

4:18

to create products as she sought the marketplace

4:20

or or of that might be so we can do that

4:22

after the break

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incident oh

5:56

and we're back and as i mentioned the top of

5:58

the show were going to dig a little bit [unk]

5:59

into you know what happens especially

6:02

as the economy changes little bit or the perspective

6:05

on velocity of new projects change

6:08

how do you carry companies go about thinking

6:11

, how how do we justify projects are we prioritize

6:13

projects and only bring this up because

6:16

he knows we've mentioned a bunch of times or lasts

6:18

probably six months for a

6:20

lot of people you know the you know

6:22

has been relatively good for last that's

6:24

a decade or so the

6:27

point where you know you may not have necessarily

6:29

gone through a point where you you

6:31

know you have your sure you had to prioritize and

6:33

justify projects but you're

6:35

, gone through a time when there was

6:37

a significant shifts in

6:39

kind of what was going on the economy especially around

6:42

interest rates and

6:44

, that impacts the people who who

6:46

tend to run your company socially from

6:48

a financial perspective how they think about

6:51

whether or not you know it new investment should be made

6:53

in spaces and how they how they think

6:55

about measuring them and have you

6:58

know benchmarks and baselines in terms of

7:00

you know what what's gonna get accepted not going accepted

7:03

and , i thought it would kind of walk through some

7:05

scenarios in which maybe it's

7:07

gonna be easy just to church to justify

7:09

are not justify something something also

7:12

scenarios in which ah you know you

7:14

don't it it it becomes hard to sort of justify

7:16

it and and hard in the sense the your

7:18

sort of going well but but we have to do

7:20

this and somebody goes yeah but that

7:22

measure that out for me what's that mean so

7:27

i think a couple of scenarios first that will sort of walk

7:29

through some of the the decision making

7:31

process that that leaders in the company typically

7:33

have to make up on a on a

7:37

a balancing between a gut feel and

7:39

and the actual data that's out there so

7:42

, let's say for example you are

7:44

a a era

7:46

of a retail fast food restaurant

7:48

and over the last two to do

7:51

a half years herself the

7:53

i'll use a company like chick fillet are just

7:56

as an example because a you be certain

7:58

aired states well known but be there's some

8:00

interesting set up have side things going on

8:02

but i think a lot of companies are going to his but sorta

8:05

your your fancy retail company and

8:07

beginning to pandemic happens and you business

8:09

was doing well prior to pandemics

8:12

it's not like anything changed and

8:14

people still eat people need to eat

8:16

people want to eat and you

8:19

had a mobile application prior

8:21

to the pandemic starting by you

8:24

know the pandemic starts and essentially your

8:27

hundreds thousands tens of thousands

8:29

of stores i'm that

8:31

had an indoor seating area in an indoor counter

8:34

ah basically had to shut down but

8:37

yeah because of way things work you were still

8:39

able to use the drive through so

8:41

you go from a

8:43

some percentage of your capacity are automatically

8:46

shut down be your volume

8:48

of volume

8:49

customers and interest is not shut down

8:52

and you're trying to figure out how to best serve

8:55

the customers through the drive through my job

8:57

for those of you not united states or

8:59

the drive through is basically think of it is in

9:01

a you drive your car around the side of the building

9:03

and there's a there's a window there and you can

9:05

order your food and then they give it to out the window

9:08

as opposed to going into the restaurant in them sanity

9:11

me sitting down somewhat of a very american

9:13

thing but i know they haven't in other countries polish

9:15

as for my ignorance i don't do a lot of fast

9:17

food my travel outside the outside said

9:19

anyways so

9:21

you know you're sitting there and you're going well we

9:23

also have his mobile app and we've never

9:26

would never in a highly

9:28

highly dependent on people ordering ahead of time

9:31

you know the mobile app was was nice but

9:33

you know wasn't you know kind of course darpa

9:35

we did and now all of all sudden you go

9:38

for this actually might help us side this my actually

9:40

help us better manage fab

9:42

quarter flow if flow if encourage more people

9:44

to use mobile apps and oh by the

9:46

way there's

9:48

a side sort of benefit the may come out of this

9:50

is that if a lot more people are ordering to the mobile

9:52

applications i'm we are

9:55

gonna collect a lot more data than we ever did if

9:57

you are going to the checkout counter right we're going

9:59

to know personally about who you are

10:01

we're going to know about you're buying habits were

10:03

going to be able to arm you know better

10:05

use the reward system that we haven't place a

10:07

whole bunch of stuff like that and so

10:10

you know you think about your trying to justify that but all

10:12

of a sudden you know if if let's say

10:14

ten percent of your business previously had gone

10:16

through the mobile applications which

10:18

meant the digital infrastructure that

10:20

you had in the back end of that was

10:23

whatever let's call it ten just

10:25

for number me credence well

10:27

, all of a sudden now your ah

10:30

your input from mobile app is now

10:32

say fifty percent of your of your traffic of your

10:34

business i'm your have

10:36

to you know to have to be able to have

10:40

you're a much larger percent are

10:42

much larger probably spend on

10:44

your digital infrastructure because the number of requests

10:46

that are coming in to be

10:48

nice not us you know it's not something they

10:50

can have any sort of time lag because it's tied

10:52

to the stores there's probably some interaction between some

10:54

sort of centralized capability and

10:56

the franchisees who are who on the stores

10:59

lot of sort of complexity the goes on there and

11:02

so immediately you're sort of going well

11:05

if i'm the i key group and we get whole we had

11:07

put the someplace you have to cost justify

11:09

this and you're probably going to be costs justifying

11:12

it in a way that you

11:14

, i guess he say well as if sales

11:17

sales some segments and grow fifty grow

11:20

but the reality is you probably not growing sales

11:22

as a total number that much

11:24

more right the number of people that are eating on a

11:26

day to day basis it's not like all of

11:28

a sudden and i know you can joke all you want about fat

11:30

americans but you know it's not like all

11:32

of a sudden the of the total volume

11:34

of traffic due to cove it was gonna

11:36

grow through a three acts it was probably going was be

11:39

more or less the same it's

11:41

just the volume of the

11:43

digital transactions that you had associated

11:46

with the business has grown

11:48

for five acts and so the

11:51

saw those scenarios where you go well we

11:53

have to make the investments in you

11:55

know are a p i infrastructure are mobile

11:57

development our our security around things

12:00

the ways we interact with our with our franchisees

12:04

that again you're not necessarily driving

12:06

a lot of net new sales but you're

12:08

also preventing a lot of frustrated

12:10

customers and societies justify

12:13

that have you are you work out the mass

12:15

that says will part of this is a bunch

12:17

of new spend but it's not necessarily net

12:20

new sales per se guess

12:22

you to justify that is well we're not

12:24

losing business so it's

12:26

you know it's an investment to not lose sales

12:29

on cable that's i guess you could sort of justify

12:31

that you can justify it is

12:33

it needs to be in a performance

12:35

enough in the technology because

12:38

so much of our business is built around this customer

12:40

experience customer satisfaction but

12:42

at the same time it's time digital interaction

12:45

and digital satisfaction as opposed to what used

12:47

to be a very people centric customer

12:49

satisfaction so anyways

12:52

you know it's not black and white if

12:54

you well it's not completely cut and dry as

12:56

to how you do that and so in

12:58

so in we're going to see more more of these things

13:00

were more of our business more

13:03

of our interactions on a

13:05

day to day basis move towards more digital

13:07

things whether it's how we order food

13:10

whether it's health food delivered whether it's

13:12

in different ways that retailer happening whether

13:14

it's kiosks at stores as opposed

13:16

to us necessarily people at

13:18

checkouts or would have that know as we all know it's

13:21

know how you interact with things with things car all sorts

13:23

of stuff that are going on his

13:26

justifying , experiences

13:28

and the to do experience may drive drive

13:31

higher level of sales for what you're selling

13:34

but also my display some other part of sales

13:36

of and so we're in see we're common

13:39

other scenarios that i'll throw out what

13:41

i'll you are or the new york times

13:43

might the as an example for

13:45

this is an easy one again sort of has cut really

13:48

to kobe people can think about it's you

13:50

know if you are the new york times or one of the major

13:52

i'm you know media outlets that has

13:55

remained viable and viable lot of media outlets have become

13:57

and have struggled but like favorite meanwhile

14:00

will you never last couple of years

14:02

or less for five years you businesses

14:04

price significantly been up the readership has been up

14:06

because i'm the world's been a chaotic

14:08

place whether it's called the politics or because

14:10

a covert or because of whatever them

14:13

and it a lot more people trying to become informed and

14:15

learn about things and so your business is probably

14:17

up you know under the

14:20

amount of traffic you have torture site is up

14:22

over summertime okay so

14:24

make sense in in you can justify incremental

14:27

spend because you're probably

14:29

got incremental revenue from against

14:31

in and you can justify the shift

14:34

maybe from print to to

14:36

digital analysts are thanks what

14:38

about ah if you come along

14:41

and you have something like wardle

14:43

happens com and are literally

14:46

hundreds of thousands millions of people on a

14:48

daily basis doing the word whole thing and

14:51

wordless free then you go well

14:54

we , it because it's super interactive

14:57

it's sort of fits the demographic of the people

14:59

that read the new york times people who you

15:01

know enjoy being challenge enjoy trying to be smart

15:03

and mean a kind of it plays off it's gonna little

15:05

bit of a playoff of what goes on the crossword puzzle

15:08

and all those sort of things but you

15:10

didn't necessarily that

15:12

charging for it and maybe we'll down the road new

15:14

york concluded some day in the bundle with the crossword puzzle

15:16

or live

15:18

the be or whatever other things before

15:20

a now it's free

15:21

so how do you justify that right because

15:24

you're not driving any new revenue right

15:26

you're not necessarily i mean you may

15:28

be driving it but it's also available

15:30

just via the web you don't necessarily

15:33

automatically know that it comes

15:35

from the new york times you just know that it's

15:37

wardle right i'm lord

15:40

you have another acquisition like the

15:43

, which is their family bought a sports

15:45

company and so you have a

15:47

bunch of new traffic but you also have

15:49

a very different you

15:51

know you have know you mix of it's

15:53

stills news and information but it's not

15:56

necessarily exactly like the news rain it's

15:58

it's different the different characteristic

16:00

us you know so somewhere

16:03

in there people are are saying hey i've got

16:05

these these kind of things going i've

16:07

got part my business which business can justify because

16:09

more people are reading and more people you know

16:12

the pay wall and maybe they pay for it's okay it's

16:14

get that and i've got this one thing over

16:16

here the concern acquisition that acquisition

16:18

that lot of traffic it's spiky time to

16:20

the day probably in many cases the morning part

16:22

of the day maybe not selling the afternoon although

16:25

i'm sure they know that they're than that i would arm

16:27

and then you've got other acquisitions that maybe

16:30

don't look exactly like the other ones

16:32

but you're trying to broaden out what you do i'll

16:35

be things create scenarios in which you go

16:38

how , justifying the stuff right like like

16:40

not completely cut and dry it's not

16:43

like in vast invest ahead of it

16:45

up we know there's a known revenue stream that

16:47

revenue stream will grow the business i'm

16:50

you know it's always it's and

16:52

so three that bring these to sort of examples up

16:54

and there's probably literally hundreds and hundreds

16:56

of them out there right now is

16:59

in a when we talk by this number times

17:01

in the show you know when interest rates

17:03

are super low arm and are super

17:06

are able and borrow money at almost

17:08

zero interest rate and we basically no friction

17:11

whatsoever the ability to get

17:13

new projects kicked off entered

17:15

into work on things that need investments

17:18

aren't that hard to justify because

17:20

in , if money was from the

17:22

most part free if you can

17:24

show some sort of improvement

17:27

in a lot of things get done a lot of things the of

17:29

things times the barrier to getting them done was well

17:32

you know we'd like to take on these ten projects internally

17:34

be great know like apply find a way to fund

17:37

all of them are really only have people for

17:39

four of them and we're committed to hire bunch of people

17:41

are we're going any deaths you know whenever my

17:43

be but you

17:45

know see you are sort of your own internal limitations

17:48

right the market wasn't near limitations

17:50

and now we see interest rates growing you

17:53

, let's say they're up to x or three

17:55

x with a ban you know we've seen housing prices

17:57

go up some new rates are fab four five six

18:00

and so , through the reason i mention

18:02

of is is not a new be an economist but you

18:04

do need to pay attention when interest rates look like and

18:06

the reason is is interest rates grow

18:09

i'm essentially borrowing money

18:11

becomes more difficult for your company

18:14

know more difficult meanings the bank

18:16

you know is mean to you just meanings you

18:18

know the bank wants more money back

18:20

for the money that you borrow night borrow when

18:23

that happens ah what happens internal

18:25

in your organization is in

18:28

most people who'd never take a business class have never

18:30

heard this term or a based not

18:32

taking an economics class never heard the term but

18:35

internally what companies do especially

18:37

at the cfl level and sometimes just trickles

18:39

down to other parts of the business is they have

18:41

what's called what's called hurdle rate what

18:44

a hurdle rate means and , it's

18:47

it's a real economic term and sometimes it's just to

18:49

sort of used as a way of describing

18:51

thanks in essence it says

18:53

hey if i'm a business and i

18:55

have have a bunch of

18:57

extra money mart i have some money allocated

19:00

and budget or have extra money because

19:02

we've made you know we've made more money whatever

19:05

i'm essentially you look at dozens

19:08

and at of project projects going on

19:11

all the time with in your organization summer active

19:13

projects and some are the people with

19:15

new ideas and they come along and they go

19:17

they i have no idea have no like to have something

19:19

happened and and

19:21

make me they come to the people that own the budget for

19:23

they say hey can we do this and

19:25

, some point the people at on the budget have

19:27

to figure out how to prioritize those things they

19:29

look at all the projects that are out there

19:32

and they are typically saying like hey justify

19:35

for me

19:36

why i should give you a million

19:38

dollars were three new headcount or

19:40

whatever it might be and

19:42

again when times are really good and interest

19:45

rates are really low that process

19:47

that sort of hurdle rate justification

19:51

often have a lax

19:53

i don't mean that doesn't happen but

19:55

in those situations you're going hey if

19:58

you can just sort of proved to me that like

19:59

we're going to help grow the business and maybe

20:02

marketing signs off on at are the product organization

20:04

signs off on at or customer satisfaction

20:07

size off on it's lot of times those things

20:09

just kind of happen when

20:11

interest rates get a higher that

20:14

what happens is that hurdle rate incrementally grows

20:16

higher and the reason that hurdle

20:18

rate grows higher is , the business

20:21

in essence says yes i could

20:23

make a investment in this

20:25

new thing but they also

20:27

say well i could also just

20:29

invest that money in a known

20:32

financial instrument that

20:35

is going to return to me some fixed

20:37

amount of money mites and so

20:40

your project ah you know we're

20:43

going to kick off some new technology saying

20:45

some new digital transformation think some new club

20:47

projects introduces risk and

20:50

for that risk the

20:52

, department says okay well if

20:55

there's a fifty there's a your project's gonna succeed

20:57

or even an eighty percent chance your products in a seat

20:59

it's sexy you know it's gonna be somewhat

21:01

less than one hundred percent what they want

21:04

they want a premium

21:07

on top of taking on that risk right

21:09

whereas if a bank

21:11

were to come to them and says hey give me your extra million

21:13

dollars i'll return you five

21:16

percent interest my or five

21:18

percent paybacks the

21:20

most cases that's a that's a no risk and i

21:22

know people are going to argue with me about hague inflation

21:24

and available but that's kind of the

21:26

thought process that goes on and things like and placing

21:28

it could calculate it's so

21:31

what may be used to be

21:33

you know a super easy process your

21:35

now having to justify it might there

21:37

they may be coming back to going our

21:40

hurdle rate internally is twelve

21:43

percent

21:43

or ten percent or fifteen percent

21:46

or whatever it might be an

21:48

, what they're now asking you to do

21:51

is say okay you want to kick

21:53

off that project to be able to to

21:56

the capacity for you

21:58

know infrastructure to be able to hand a

22:00

new transactions or new mobile

22:02

applications or that up

22:06

micro service implementation you

22:08

want to do but aged costs justify

22:10

it for me

22:11

and i want you know they may never come to you

22:13

directly to see are in technology and he would

22:15

nestle understood understand it you

22:18

know an accounting term like hurdle rates

22:20

blessed with that's what they're doing they're now kind of going

22:22

hey i'm explain it to me

22:25

and explained to me in probably better ways

22:27

or more detailed ways than

22:30

you've had before

22:31

now

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23:18

this is a weird scenario because enough your

23:21

technologies to go whoa whoa hold on not accountant

23:23

like why am i being asked instincts or

23:25

they're probably not ask you these things right there

23:27

probably asking somebody ,

23:29

things and what you're getting is

23:31

sort of the the downstream effective that so

23:34

maybe maybe are the i t

23:36

group and sales as saying hey

23:38

your sales for your business as saying hey we

23:41

need to make sure that the mobile application

23:43

experience for people that are in the drive through

23:45

of are fast food restaurants

23:47

is awesome and it needs to be instantaneous

23:50

and you go okay corner to do

23:52

that i'm going after him to buy this

23:55

and do this i'm apt invest nice people i'm an apprentice

23:57

put these process

24:00

and so in your mind you're going well somebody

24:03

i guess the chief revenue officer chief sales

24:05

person has already justify this

24:07

and , you'll probably begin to see

24:09

more and more as the economy

24:12

slows down and better things you'll bit tighter interest

24:14

rates a the rise of that more is

24:17

those people that before

24:19

came back you just said just do this right

24:21

just make the technology work just

24:24

make the digital experience better are

24:27

gonna come back to you

24:28

the help them justify it in this

24:30

is where in a start to get many scenarios

24:32

in which you , to not only

24:35

be a technology leader but

24:37

you have to have a little bit of a finance

24:39

and economics background because you have

24:41

to be able to justify

24:43

something because again you're

24:46

not necessarily justifying hey could we

24:48

make this technology work hey could i hire

24:51

three people to make the stuff ah viable

24:54

but you're also having to justify

24:57

the economic viability of it because

25:00

now that chief revenue officer that chief

25:02

marketing officer who wants that you

25:04

know that campaign to go out the door that that

25:06

better think they're having to go

25:09

up , ten other projects that

25:11

seem equally important or

25:13

equally you know super

25:16

exciting dip for the business seducing they

25:18

have to justify them and you

25:20

know this is a scenario in which you

25:23

, he would set a lot of times times

25:26

mean the i t spaces very much a technology centric

25:28

thing but you gotta have gotta little bit of

25:30

a business smarts yet have club of acknowledge smart

25:33

to get a kind of be able to follow the money arm

25:35

and we're going to start we're get into an era in

25:37

which that discussion comes

25:39

up more often and the thing you remember

25:42

is nobody's necessarily saying

25:44

like the technologies not relevant but

25:46

they're saying look we have given have lot of things

25:48

going on we're gonna have to prioritize

25:50

those things and we're probably going to start putting

25:53

a little bit different economic

25:55

, accounting rationale against

25:58

it and you may there to

26:00

be surprised by that are blindsided every

26:02

act as you go out with we've never had to do that the past

26:04

find themselves you know this

26:06

is this is why these scenarios where

26:09

i'm you know as new projects

26:11

are coming on board as you're thinking about

26:13

hey what are we investing in gotta

26:16

have in the back your mind you

26:18

know

26:19

how does how does this relate to the business

26:22

right and what's it doing to the business and

26:24

again i'm just it

26:27

just so you know like some situations are going

26:29

to be very obvious as to what they do to the

26:31

business so for example if

26:34

you are a business in which part

26:37

, your growth the way the tubes scale

26:39

and grow is through partners

26:42

partners oh let's say whatever nazi

26:44

your credit card company and lot

26:47

of your growth is not in nassau

26:49

your brand a credit cards but in you

26:51

working with partners to have you know a

26:53

a sports for any credit card or college

26:55

brand a credit card or us in

26:58

a resort branded credit card where i beat

27:00

you know those kind of justifications for

27:03

additional infrastructure to be able to help take on

27:05

new partners probably won't be that hard justified

27:08

as you probably have internal numbers that say

27:10

that as we grow number

27:12

of partners that adds x

27:14

amount of of in from our revenue at this

27:16

rate at whatever but

27:19

if you know it's coming you and saying

27:22

i'm you know we need did we need to need

27:24

this thing because you

27:26

know more and more of our customers have

27:28

shifted from in store of

27:31

our experience but the overall

27:33

revenue may not necessarily grow sort of

27:35

like the fast food example used that

27:37

may not be a simple to understand and

27:39

that may be something that's awesome the

27:43

broader people that are asking this request

27:45

you know have to be able to justify like okay what is the store

27:47

costs what are the people in the store costs what happens

27:49

if we shifts you know to more

27:52

mobile engagement will what happens

27:54

you know are we in a business that requires delivery

27:57

of those things okay what a delivery costs so

28:00

the sort of know that

28:02

you know not every one of these is going to be

28:04

as cut dry as is it might seem ever

28:06

made with been in the past but ,

28:08

you're probably going to see more and more of

28:10

this and they're going to be this

28:12

is sort of the framework the people are using and

28:15

i've gone on for a while now i'd i don't want us

28:17

i'm type to to much time but just

28:19

sort of be prepared prepared

28:21

questions enough in a what what is this doing

28:24

for business what is the is

28:27

you know have we thought through you know is

28:29

this something is is directly

28:31

about growth is is about taken costs out

28:33

of the system is is about shifting shifting

28:36

it's it's had digital experience for people

28:39

and just know that probably each one of those buckets

28:41

whether it's known growth

28:44

cost reduction or shipping the digital

28:46

experience are probably going to houses

28:48

in a different ways of measuring themselves and

28:50

and you're probably to be involved with all three those kinds of projects

28:53

ah and you

28:55

know some of them will be harder to justify than others

28:57

and so it's you know it's good to know i understand how that

29:00

process gonna work but also

29:02

probably to start thinking of some sort of plan b's

29:05

if you know the things that you're doing you're like boy

29:07

that seems really like a good thing to do but it also

29:09

says like really hard thing to justify arm

29:12

and least you , we're not we're

29:14

not sure what the outcome of the things

29:16

we think it's going to make things better we think it's going to

29:19

improve something something

29:21

maybe have a little bit of plan be in place in which

29:23

you go case this is the gold platinum

29:25

way of doing this this is the sort of silver

29:28

bronze way of doing this in this is the duct tape

29:30

a bubble gum in a way of doing this

29:32

because you make it as to do more of the duct tape and bubblegum

29:34

once and least in the early days so

29:37

days you know all this is is

29:39

not intend his his to enough to give you are

29:41

a phd in economics or or accounting ernie

29:44

those things as says i'm kind

29:46

of giving you a sense of like similar trends that

29:48

we're seeing and again this we're seeing a but

29:50

he's been in the industry for a long time be go oh man

29:52

i have seen this before seen as go to the cycles

29:55

but if you're new to the industry

29:56

and again if you know if you really only been in the history

29:58

for

29:59

seven eight nine ten years be

30:02

, not necessarily seen these cycles or

30:04

at least seen them what we're probably going to

30:06

see in the next couple years as as the

30:08

economy kind of adjust from from a lot of

30:10

years of boom to a lot more years of

30:12

sort of justification and pragmatism and so forth

30:15

arm and you know and and and people

30:17

make decisions accordingly i doesn't mean i'm

30:19

being stops just means they make decisions

30:21

differently some areas that are wrap it up

30:24

like severed for listening arm of

30:26

lose middle of a sense always have an answer

30:28

questions about the stuff but you know some sort

30:30

of educate yourself on around the space

30:33

and and and know we always tell folks like it's it's

30:35

good to good you know is as

30:37

good about the technologies can but it's also good

30:39

to have just just enough com

30:41

you know economics background a little bit of

30:43

accounting bit because at some

30:45

point technology always some spending

30:48

money and people wanting to justify

30:50

why that money is spent we don't just get

30:52

to spend money on technology all

30:54

the time just because all isn't success

30:56

some areas that print wrap it up

30:59

of everything haven't a a good oc august

31:01

getting ready for school to start getting

31:03

a lot of people end up getting into the

31:05

fall and and fall season and fall

31:07

trade show season and lot of new announcers coming that

31:10

way some a was thanks everyone for listening and

31:12

other funds on a prospective i'm thanks

31:14

for telling a friend about the show with to see

31:16

the show grow and some kind of blows us away that

31:18

year over year and we get in his youth as show grow

31:20

and in his people are joining also

31:22

thanks for telling a friend nectar helpless growth community

31:24

multaq next week

31:26

thank you for listening to the cloud cause

31:28

he says is a class how still mad

31:30

supply most shows