J. Darrin Gross
I like to ask you, Chris Larsen, what is the Biggest Risk?
Chris Larsen
Yeah, so I think everybody's talking right now out there, and about interest rates and cash flows. And you can mitigate those, you can lock in interest rates, you can set money, you can increase your reserves that you have out there. And those those are all good things. For sure. But I think the biggest risks that that we face, and we kind of talked about this in an indirect manner. It's people, it's people, you know, do you have the right people on the team? If you're an investor? Are you investing with the right people? Are you investing with somebody who's just a sole operator without partners? What if something happens to them? Obviously, I'm acutely aware of that I lost my father at age five, I lost my best friend in college at the age of 18. So I know that, you know that there's, there's things you need to put into play. So things like life insurance, estate planning, are probably more apparent to me when it comes to that. But if you're if you're an investor, I would ask that question. I would say, hey, you know, Chris, how Are you addressing this issue? How was the team built out? So if something happens to that fantastic operator that you have that came from the medical production facility, you know, how's the team structure, something happens to him? You know, where's the point of failure when it comes to that? What we do we put systems in place. So I really, I really like kind of the methodology of optimizing the solution, and then automating that solution and ultimately outsourcing that solution. So again, that's optimized, automate, and outsource. And if you do that, that doesn't mean you release control of it. But after I opt, optimize or iterate, you know, engineers, they iterate right, you iterate, you get better, you get better. And then you figure out how do you how do you automate that and oftentimes with automation, it's it's bringing on technologies that may be better than people. So we have we have certain technologies that we use, like our, our customer, our CRM system, where it automates responses, and it's able to check logs, and then it's able to say, Okay, did did, did we check this box for Darren yes or no, and then maybe it moves it to an individual so that, you know, a human can address that situation. And then finally, that outsource piece, if you can, if you can automate something, and then outsource it, that means that, you know, if, if something happens to me, then my partner or one of our employees can address that situation. And I think that's, that's really important, because it handles two situations, one, immediate downside risks there. But it also reduces your upside risk. And what I mean by that is, as you scale, quality can go down. So how can you scale a business, but increase the quality and increase the benefits that you get from scaling? And I think that is really, you know, talking about the risk, but also talking about how you can use that as a competitive advantage as well.