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All right, guys, welcome back EYL. A few weeks ago, probably like a couple of months ago. Actually, we started because people always ask to all the time, like how do I get on the podcast? How can I get on the podcast? So we have a variety of different ways to bring people on the podcast. Like some people we know personally, some people get referred to, some people we reach out to. So what we wanted to do also is to have like kind of like like open
audition for lack of a better word. Whereas we do Instagram Live and then people just come on and then they just talk, and then it's like they got a compelling story and something that we haven't covered. It's like, let's bring people like our supporters, like you know what I mean, because that's a way to actually engage the community as well. It's like, we have a bunch of supporters, so let's bring some of our supporters on and people that we may not have known about.
So it keeps the community alive. That way, you'll always have people because either people are coming up with ideas or they're hearing ideas and they're actually saying, listen, next year, I'm gonna be on your show. And the response is always the same, I can't wait, Let's do it. Yeah yeah, so for sure.
So Carl Pierre, he came on an Instagram Live about a month ago, maybe a month and a half ago, and when he came on, he was spending a lot of information about the healthcare industry and a bunch of stuff, and everybody that was on the live watching it.
They agreed like you should get at them.
So we set up a time and actually it was crazy because obviously I was before this whole COVID nineteen outbreak, so we couldn't do it in person.
We had to reschedule it it.
And now we're setting it up on a zoom, so I'm gonna do the introduction. So Carl, he's interesting because we haven't covered the healthcare industry and it's ironic that we're covering it now.
It's like perfect time.
But the healthcare industry makes up eighteen percent of the US GDC. It's a three point six trillion dollar industry, and it's so vast, like there's so many different fields within the healthcare industry.
Right so we can only imagine that number is going up.
Of course, So only thing that we hear on the news right now is healthcare because of obviously what's going on with COVID nineteen crisis. Yeah, exact epidemic, pandemic, pandemic. So but Carl's interesting because even before this, he's been an entrepreneur in the healthcare space. So he has a home nurse staffing company with over three hundred employees where they help people like elderly people thinks like long term care situation where they you know, they desploy nurses to
people's Home. And then he also is called Avalanche Care. And then he also has a software company that he's built for medical payroll. That's pretty interesting. Call all time, yes. And then he has a new new venture called eight Book. So we at all that stuff. It's a lot going on, but first and foremost called thank you appreciate.
It with something man, thank you, thank you for having me. Definitely watch the show.
I've been paying attention, and uh, it's good to be to be able to split some game to the people and really show them that there's a pathway.
To whatever level of success that you that you bought.
And I'm going to try to at least show them the pathway through through health healthcare at least. And I also do so on my channel, which I'm not sure if you guys ever checked out, but I showed exactly how to invest in real estate, and I'm now showing my process of how to start a home care agency and scale it up, so anybody who's interested can continue to follow that story and really learn how to go about that.
That's the e NTP life. Come on, man, we've been watching you, all right, So let's let's talk about the backstory.
So you you know, West Indian descent shout out to the Haitian massive, So yeah, you know choice you're making. So you said that your your family, you come from a line of healthcare workers, right, which is not which is not uncommon for Indian furse, doctor, practitioner, things of that nature. So all right, but you said that you know your family with healthcare workers and you're you're a
healthcare entrepreneur. So can you talk about that as far as your backstory into coming into the health field and what made you transition your family's trajectory from being a healthcare worker to being a healthcare entrepreneur?
Gotcha? So well, I guess the story starts man.
Mom was in nursing school while she was pregnant with me, right, so I always saw her work, and she was working in the hospitals in New York City during the AIDS epidemic, So it was a constant bit of conversation in the house, what's going on in healthcare? How to take care of yourself? What are the trends? And I saw her progress from being a staff nurse to floor supervisor to an assistant
director of a nursing home. So she was always progressive in her career, and my father was a respiratory therapist, still working and he's dealing with a lot with COVID nineteen. Yeah, and he's a respiratory therapist. So every patient that's coming in to see him all coming to see him. So for them, their vision for all their children were was to work in healthcare and of course be a doctor.
Right.
So one of my brothers is a physician, and yeah, so essentially the idea was always that we would go the doctor route, right. So I did start thinking of about, I guess business until I was like about thirteen fourteen years old, because my mom started a nurse staff infirm.
She was working at a nursing home and they were using what they call agency nurses, and she was like, well, why don't I just start when I don't, just start an agency and get my friends from other hospitals to work for me and be one of your providers.
And that's where that company started. But my mom has like zero.
Computer skills, so when it was time to create the documents, it was me making the documents.
When it was time to create.
Spreadsheets, to do the invoicing, to manage quick books, anything that was on a computer was me right, because I was the kind of computer geek of my household. So it's like, Oh, Carl, I need this, can you know how to make this it? Could you get get it out of the computer. So it was always me and
my mom working on that side of the business. So when I went to college, I ended up expanding the business into Lowland, and every lesson that I took that I could kind of like learn from to bring that knowledge back to the business, I did, and I ended up studying health technology and management with a concentration in radiology radiological studies, and that was to become an X ray tech and a CATSCAN technologist and an MRI technologist.
And I chose that path because I wanted to have flexibility in when I worked, right, because there's certain positions in healthcare that are twenty four seven and there's some of them that are only like nine to five, And I didn't want to choose a career path within healthcare that would narrow me down.
To work in nine to five because I knew I needed.
To have the nine to five the business hours free to expand on my business. So that was kind of the reason why I chose x ray because it's you know, their X ray techs are working all shifts, they're doing catscan at night, or they could flex into MRI. So I thought that that was going to be the best fit for me. And plus I knew that I would have work as well. And I never you know, and this is a message anybody who's thinking about going the entrepreneuribile.
I never like to not have a guaranteed income from somewhere.
And I felt like, I'm if I can work nights and I could work weekends and use all of my free time during the day to focus in the business, then I'm going to do that. But I'm never going
to sacrifice the potential to earn. And that's one of the things that is pretty special about about healthcare is because you know, a nurse could work, you know, three three days a week, three thirteen hour shifts or three twelve hour shifts, be full time, and then have four days a week, you know, on a nurse's sally at that four days a week to focus on whatever else.
It is that it's like a firefighter. It's like a firefighter.
Like a lot of firefighters, they work like two twenty four hour shifts and then they got the rest of the week where they can do, you know, a variety whatever else they want to do in life. So it's like you can be a real estate entrepreneur, you can work another job if you want.
It's like, you know, it's it's pretty flexible out So let.
Me ask you this.
As far as the healthcare industry is something that pretty much is recession proof, there's a shortage just like the only especially nurses, there's the only professional I think that is extremely on demand right now where everybody else is firing people and it's like they can't find enough nurses,
especially where we're at in New York. So as far as that is concerned, right for an entrepreneur, because we don't get in the business model of it, how did you like, what was the steps for you to start your Your home is it? I don't have a misquote. It's a home nursing service home long term nursing service.
Care agency, homecare.
Agency, care service agency. And in New York they call them lixas and jos. It's two types actually, But it started first as a staffing firm, which is very simple to start a staffing firm.
Just need to incorporate yourself. You need to have a contract.
That's is that you're going to be providing, you know, contracted services, a rate sheet that says how much you're charging, and you're in business literally for less.
Than a thousand dollars.
You could start out a nursing agency, right because and it's it's actually mislabeled as a nursing agency because you're not taking a percentage of the wages of that employee. So like in New York City, we could get a license to be an agency through consumer Affairs, so and.
That's a very easy process.
But that's because you're charging a fee to the person that you that you're getting the job for.
Right.
A staffing firm is different because those people work for your company and you're assigning them to work in a hospital, in a nursing home or something like that, and you're charging the hospital of fee, taking your.
Cut, and then paying your employee.
So it's not by definition an agency, but they just refer to them as agency nurses.
That's what technology is. Where did the idea for the staffing agency come? Right, So you're doing X rays? You deviated from the plan of being a doctor. Was it from the influx of people coming into the hospital and seeing that there was a shortage. Where did the influence come from.
Well, the influence came from my mom.
She just saw an opportunity for a money grab and she was like, well, if I know several nurses myself and I'm a nurse, so if I could start this, then I could just pull my friends together and we could provide services to these you know, understaffed hospitals and nursing homes.
So that's where the idea came from. I got to give her that.
But being exposed to that at fourteen years old made and seeing what the numbers were made it like, okay, this is a no brainer for me to kind of expand on that. But while we were in the staff in firm business, she also was like, well, since we're doing well here, there's another side to this business, which is home healthcare.
And I see those companies and she worked.
She would work, and that's my mom is I guess pretty genius. Would have work for them to kind of learn how they maneuver and get exposed to like where they get their contracts from, how what's the money flown. And then she was like, all right, let's look into getting a license. So while we were in high school.
We were working with a license.
A license didn't hit until two thousand and one. But the staffing firm business was going well. I had expanded to Long Island. We didn't do anything with the nursing agency, I mean with the home healthcare agency.
It was just sitting there dormant. But something cool happened, which is New.
York State stopped issuing the licenses, right, they capped out the licenses. So we saw a getting phone calls to buy a license, and the phone call first it was fifty thousand dollars. That it was one hundred thousand dollars, then it was two hundred and fifty thousand, there was four hundred thousand, and.
We thought about selling it just to fuel the staffing firm.
But it was like, wait, if we're getting offered four hundred k for this license to operate, there's money here, right, And that's when we pivoted into home healthcare.
So what was what was the reason that New York State decided to stop issuing the license?
Oh, the same reason why they're trying to scale back the agencies now. It's just too much oversight, right, So there's more than two thousand agencies in New York, right, every three years we get surveyed by the state and they have to send three nurses to your agency to review your medical records.
So to do that to two thousand agencies, you need a lot of personnel.
So it gets out of control every now and then where it's just too many people to monitor. So they're actually trying to force a consolidation within the industry, shrinking the number of licenses that are out there so it's easier for them to maintain oversight.
So all right, so in a sense you have the company where it's like a middleman. In a sense, staffing is actually really big. We haven't even to talk about staffing on this podcast before. But so you recruit, you recruit people for jobs pretty much, and staffing you could do any you could do staffing in any type of it, staffing, NA staff and stuff like that. And then you you charge the high hospital and they pay you and then you paid a difference. How lucrative can that?
Like?
Is there what's the profit margins on those?
So it could be.
As much as fifty percent because it depends on what the hospital is willing to pay. In home care, the profit margins about eleven to thirteen percent because it's getting Medicaid dollars and the margins are small there, just like the margin for a hospital is only eight percent, right, hospitals are a functioning on eight percent margin. But with staffing itself, it can be as high as fifty because it's it's how desperate are they for staff and what
are they willing to pay? So usually you're charging like a thirty percent markup over what you're paying.
Your staff, So fifty percent the best case scenario, if they give you two hundred, you give the employee one hundred.
And you take and you're taking one hundred.
Yeah, clean, clean if if if that's what they negotiated, right, So with the nursing comp it's usually about thirty percent over because the hospital and the nursing facility is thinking, well do we pay our nurses?
What about matching their payroll taxes? Right?
That's another expense their workers comp and their healthcare expenses plus PTO. So when you're trying to you want to come in as close to their price or their overtime price as possible because they're either going to mandate their staff to work overtime or they're going to use an agency, and if you come in for like a dollar or two less than what that figure is, it's now a
saving to that facility and they'll be interesting. So you can charge like thirty to fifty percent above because if it's at fifty percent, you know you're hitting the time and a half member right, and they're still going to they still may be short, so they still may go with you even though it's equal to their time in the half number. And that doesn't include the workers compon taxes that they're going to have to pay as the employer.
So can we go back to that four hundred thousand offer for the license? Did you guys decide to sell? You decide, you know what, we got something great here, let's hold on to it.
No, we got that's what we decided. We got something great care that's hold on to it. And at the same time, I'm the market crashed. So in the staffing business, right, you have a contract that says, all right, you're gonna pay me forty five dollars an hour for an LPN nurse, and I'm going to pay them and we're going to
provide the service. But what ends up happening is that you have the terms that maybe every thirty days, every sixty, every ninety, so you're front running the payroll until you get reimbursed on your invoice.
Right, you're not getting paid weekly from the nursing facility. They don't pay out weekly.
So right before the market crashed, we were growing pretty aggressively and we had line of credits to float that money.
So just like what's happening right.
Now in this crash, the banks pulled back on those line of credits, so we couldn't even provide.
As much service as anyway.
So it's like, well, what are we going to do because now we can only provide like thirty percent of our services. And that's why we're even flirting with the idea of selling, because it's like if we've sold this for four hundred K, that helps us, you know, have
worked bff for money. But then we thought like, well, the home healthy, it's get paid less than nurses, So let's just start spooling up that side of the business, making you know, smaller spread, but we can grow this beyond and people are thinking about paying you know, almost half a million dollars for the license.
There's got to be some money here and that's where that pivot took us.
Is that true just for New York State? Was that something that was happening throughout the country where licenses were being ceased?
Oh no, no, no, that's that's New York State.
Like right now in Florida where I am and expanding on my new venture, there isn't a monitory of the licenses.
I'm applying for a license right now. Some states, I think Michigan doesn't even have a license to operate.
You could just start a home care agency without any oversight, which is kind of nuts to me because New York is heavily regulated. California, of course heavily regulated. So you know, short answer is that it depends on your state.
Yeah, because I was actually so a friend mine in Ohio. He has a health clinic and he was kind of explaining it to me, and it was it was crazy because he was saying, like with the healthcare industry, the common mistake that people make is that they think that they actually have to be in the field to actually be, you know, an entrepreneur and like open a type of business.
But you don't have to be a doctor. You don't have to be a licensed doctor to have these type of business right, like that you have like you're not a licensed doctor right now, I'm not a.
Licensed doctor, but in most states you have to have a licensed person like either a nurse or a physician on your founding.
Team if you're gonna if you're gonna.
Do a license film caurgency, but as a staffing firm, you could turn around and start once tomorrow.
So your mom would your mom filled that role, right she was the nurse.
Yeah, she was a nurse. So that's that's how it works.
So you know, if you're thinking about getting into this business, like I get increased all the time on my channel where it's like how do I start?
How do I start?
So I started showing them step by step this is how you do it. So step one, if you're going to go and become a home care agency, you've got to just research your Department of Health website and find out are the issuing licenses, what is the application process, and what are the rules and regulations? Right because those regulations are going to dictate what your policies are and how your policies need to be drafted, and you're going to need to develop your policies when you're applying.
It's actually pretty a pretty.
Grueling process because you're doing like man like four hundred pages of policies, your forms that you're going to be using to do your assessments. It's pretty intense. But you could also hire a consultant to help you with that. Like right now in Florida, since I'm in a much better financial position than when we started the whole agency before, I'm just paying a consultant to handle the entire application process and working on building my team while while.
They're doing that piece, rather than physically typing.
But from the staffing firm perspective, you just need a You can get like a boiler plate generic staffing firm contract. Pull that up on Google, determine what area you're going to focus on, if it's going to be healthcare or nursing,
and then disciples your rates are going to be. Make sure you're cushioning in at least thirty percent spread because your payroll taxes are going to cost you close to like ten percent, and then your worker's comp is going to be around six to seven percent, so then you're only going to be left of like twenty so at least charge your thirty percent markup if you're going to do that. But the process, you know, once you get licensed, is all about what relationships you build and executing on
your marketing strategy so that you're finding those patients. But on the staffing firm side, the process is call the nursing home, call the hospital, speak with either the administrator or the director of nursing and say, I am a staffing firm.
I'm looking to bride services. Do you need coverage? Best time? Summertime? Why?
Because people are going on vacation, They're going to be short, right, so that's when people are going to be desperate. They'll say, hey, you know what, sure, you know, send us over your send us over the contract.
We'll have a review.
The first contract that I got when I expanded in Long Island took me about maybe two weeks of phone calls. I just literally downloaded National County Nursing Homes and I just picked up the phone.
Cold call, cold calling, cold calling.
You created the contrast yourself, or you sat down with a lawyer. How did that process work?
Oh?
She took my mom took a copy of the contract that her nursing home is using, and I just retyped it.
The mom's a hustler, shout out the mom.
Yeah she's she's she's got hustle to her. She definitely does.
All right, Well, in the next segment, we want to talk more about the business and also about the acquisition that you guys. I know you were saying off camera that somebody had offered you some money and you looked at that then, because we'd like to talk about stories like that on EYOL, because these are things that the general public does not know and isn't privy to. So yeah, we're gonna talk some more in depth about the healthcare
fail in the next segment. All right, So in this in this segment, we're gonna we're gonna talk some more about some actionable items. This is what everybody loves EYO for. So you have two different businesses with the staffing firm and the nursing But first I want to talk about staffing so for people, because you said that's that's probably like the more practical thing that really anybody can can do as a staffing firm. And like I said, staffing firms are big on a variety of different levels, not
just the medical all over. Staffing firms extremely big and pretty much is just bridging a gap where somebody needs work and their employees that are skilled to work but they don't. They got to come together. So the staffings firm's job is to find the qualified employees and match them with good employers. So what are some steps if somebody wants to start their own staffing firm?
So I want to try to break it down as simple as possible. If you're going to be starting a staff infirm, the first thing that you're going to need to do is get your hands on just a basic staffing contract. Okay, get a contract, review that contract, and part of that contract is going to have a fee schedule, right, This is what you're charging for the positions. Right, So if you're starting with nursing, start with a fee schedule for urns, a fee schedule for LPNs.
Which are licensed practical nurses, and.
Then for nurse aids, because that those are the most utilized workers in a nursing home or in a hospital.
Right.
So that's that's one thing that you want to have. But you're going to do your market research next to know what is a nurse commanding as far as salary? What is an LPN commanding as far as salary and the nurse aid, right, so that you know what you're.
Supposed to be paying out specific to each state that you're in, specific to specific to the state that you're in.
Specific to your region, even in New York region. Right now, New York City is going to charge higher rates than Buffalo exactly.
Right, So you have to just research your local market just to know what does it. You know how much are you going to be paying, because that's going to dictate how much are you going to charge because you.
Also need to cover that. You're going to need.
To cover payroll, you need to cover the workers count, and then you're going to need your profit margin.
Right, So I advise.
That whatever the local rates are, charge a minimum of thirty percent more or you know, as much as double, because it depends on what's again the need of that position.
So once you have.
Your contract set, the next thing that you should do is obviously incorporate yourself, right, either go to the LLC route or the corporation route, just so that you have an entity and some sort of barrier between you and liability, right, that's the purpose and also.
The tax benefit.
So make sure you go out there and incorporate yourself. You could do that on legal Zoom. I use a service called Blumberg excels here. I'll send you guys a link.
You know.
I like working with them. They're quick and set up your corporation within a day or two. They'll even apply for your text ID number, all the things that you need to be recognized as a business right, And that cost in New York is going to be anywhere from like three hundred if you're doing a corporation to like almost two thousand if you're doing an LLC because of the publication fee that's associated with that, because LLCs have
to publish that they're coming into existence. So once you have your contract and you have your entity set up, and you have open up a bank account to do entity's name, the next thing that you should do is probably hire a few people right, get your application.
You can pull up.
Any generic application online, but you're going to need to get an applications so you can actually onboard and have a pool of providers, nurses, Mercedes, LPNs, whatever you're going to be hiring. And you know, once you do get a hit, you're going to be able to staff you don't want you don't want to get into.
Contract to provide staff, and you got.
To staff, right, So I.
Think if you're a healthcare professional, it might make the most sense of staff for yourself being one of the people that gets dispatched. So at least you know that you could fill in certain gaps if you get that immediate call, that you can work that shift yourself.
How many people? How many people are you putting on the team to start? We're doing like two or three including yourself. So you got a four person team.
And if you're starting a staffing.
Firm, yeah, I would at least.
Three in each position that you're that you're marketing, so at least you have, you know, some depth to your to your staff.
All right, So we had r N, LPN and then healthcare, so that would be nine people. Yeah, gotcha.
So how do how do you Because like there's a shortage of nurses right now in New York and there's like they're like begging nurses to come from all over the country. Right, So this is like a perfect if somebody had a staffing agency for nurses right now, it'd be perfect, But like how.
Do you find the candidates? Like I'm sure the tract.
Out Okay, So you got to just public. You're going to post on whatever you can, indeed LinkedIn Facebook jobs wherever the threads list, just post that you're hiring. And the thing is, people are nurses. I know.
Most nurses I know are working two jobs.
Right. They're usually the top earner in their household, especially in our community.
They're working two jobs, sometimes three jobs.
So they're always looking for jobs, right, because one that their jobs exist and they're always looking. But if you dangle a carrot, like higher rates than what they're normally getting paid, then that also attracts them. So let's just say the averages thirty but you're paying thirty three. Then nurses who are working for some other agency or they'll give up their part time job and work with you for a little more money. So you make it a smaller spread, but you're attracting the talent that way.
What is what makes a candidate qualify? What are the things they need? I'm assuming experience or maybe not in this type of crisis.
Yeah, sometimes not even experience.
License they need to have most most people in healthcare need to be licensed, right, so our into license. LPNs are licensed, nurse aids have a certificate home health aids have a certificate, so they obviously need to be meet whatever the guidelines are for the state.
They also need to.
Have an up to date physical which shows that they're immune to beesels, bumps, rubella, rubiola, checking poks for oursella, that they also are TV negative so they can't have active tuberculosis, and that they're what's called, you know, safe and fit to work okay, So that physical needs it's done annually. All healthcare workers working in direct contact with patients have to have an annual physical, so they physical needs to.
Be on to date. But every nurse and everybody in the field knows that.
So either they're getting the physical is done as the job and they could get their physicals from their job, or they just get their physical from their doctor.
But once they have that, they.
Have the application, they filled out their W two forms or the ten ninety nine informs if they're or W nine's if they're going to be ten ninety nine, and they have their medical clearance and you have a copy of their license, that's what you would consider a profile for that for that nurse. Of course, their resume helps, but most of the time they're not even asking for the resumes.
Because they're so behind.
It's just like, does this person have at least one year's experience typically is what they're looking.
For, so you would also look for that.
But sometimes you might have a new nurse who has maybe eight years experience as a nurse aid that understands how things move in a nursing facility that they'll be willing to take as well. Sometimes they orient them at the facility and really it's really a case by case, but at minimum physical licensing certificate and identification and you know eligibility.
Work in the United States, are there terms after you find a candidate that they have to stay with the company for six to twelve months or does that exist in this in the staffing agency?
It can if you if.
You have that agreement with the worker, and usually within the contract you have like a provision that they can hire that person after one year if they pay you x percentage of that person's salary.
If not, they can't hire that person.
So it's also a way for them to kind of vent and recruit talent to a certain extent.
Yeah, so that in that sense, right, Let's say that they made one hundred thousand, if they want to hire them after the year, you take a percentage of that, so you like, maybe I'll get five percent fifteen, So that's fifteen fifteen thousand if we make it one hundred yep, okay, gotcha? Okay, So the staffing how lucrative is staffing?
Okay?
So before we pivoted to home care, we're doing about a million a year in revenue, and like the net margin is about twenty percent, so you're seeing two hundred grandfit, so it's enough to earn on it wasn't it wasn't it what it was for for like how it is.
For home care.
But we never got to the point like as far as size that we did with the homecare agency.
So pivoting to pivoting towards home care, so home care is more is way more lucrative in your opinion?
Uh, No, they're there. I think I think they're equally lucrative.
It's just that the the funnel is different and there's a larger barrier to entry. So you know, there's with that, of course, there's money, right, there's fewer of you, there's fewer providers, and there's.
Still a need.
So we were able to scale that aggressively because you know, a home health aid only needs to train for eighty hours right to get a certificate, and that means.
That there's there's a lot of them out there.
So we're able to scale up the number of people that we have faster than a bunch of a bunch of nurses. To get three hundred, four hundred nurses, it's a lot harder to do than to get three hundred or four hundred home healths.
So to be a home health aid, to be a home health aid, what do you have to do to become?
It's an eighty hour course, So it's you know, body mechanics, how do you care for a patient? You know, making sure that the water isn't too hot so you're burning a patient.
And given the bath safe.
Technique, any anybody can do.
That as long as they legal to work in the United States. Yep.
So that's that's actually when you're talking about the business side. But that's actually a job opportunity, I guess as well for people that might of course need work, right yep.
And in New York they're they're making anywhere between fifteen and twenty dollars an hour.
Yeah, and the qualifications are like training program that's it.
Two training program and then also physically background check background check yep.
So all right, so you guys scaled that up pretty pretty aggressively, and then you were saying that you got to offer it to all the company.
Yeah, so all right, so right now we're doing like for twenty nineteen, you did about just under twelve million dollars in annual rev And I got a mailer right from somebody who was like, are you looking to sell? So I was like, well, let me, let me, let me entertain this and see what numbers are throwing around.
Right.
So it was actually an agent who a burgers and acquisitions agent who broke his businesses. So he sat with me and he was like, we could get you fifty percent of your annual revenue.
And I was like, all right, so talking about you know, between.
Five and six million dollars sale based on where we're at that year, I was like, all right, cool.
So they brought in a I'm not sure.
If I got to see the terms and conditions of the contract, so I'm not going to say their name, but they brought in a publicly traded home care agency that was acquiring agencies like mine, right, and they reviewed our case mix and how much mony were we making and they made an offer that was consistent with that.
So it's like, okay, I was my trader background.
I started looking up the finance of that company and looking at how they were organized, and I saw that they were trading at at sixty times earnings, right, they had they had a sixty pe And I then looked at how many cases they have, and they have like thirty thousand lives in the management in the country, and I was like, all right, well, we have three hundred patients, so we would just need to get you know, one hundred times larger, right, And what would that take and
how could we do that? And I was like, well, they're trying to buy us at like five times earnings, but they're trading at sixty. This is a this is a dope brainer. They brought in another company as well, not not not the public trade company, another another suitor, and they're like yeah.
I was like, what is your strategy here, what's what's the what's the game plan?
The guy was like, we've already taken another We've already taken another company public.
All we do is aggregate companies and go public.
That's that's our model, right, It's like, we've done it in fashion and now we're doing it in healthcare. So they were trying to offer me four times earnings, and I know that the publicly traded company is trading at sixty.
So it's just a matter of getting financing and going out there and gobbling up smaller and mid sized agencies so that you get the numbers to go public and then you're gonna you're gonna make twelve x return on what you just bought, because all you're doing is buying functional agencies, putting them under one umbrella, stripping back duplicated jobs, like you don't need a bunch of CFOs, you have one CFO in your company.
Right, So they just aggregate and go public.
And I was like, you know what, maybe we shouldn't sell, right, Maybe this is not the direction we'll go in. Maybe the direction will go in is emulate that model and start thinking about, you know, expanding the business into different markets and expanding the business in a way that you know, we're on a trajectory to go in public and that's what I'm doing.
Now with aid book.
So you turned down six million and to scale your own business.
Yeah, So so so so all right, so AID book, what is what does that include?
As far as you're new, so you said that.
You know, our mission at eight book is really to just streamline the discharge planning process because hospitals. Hospitals are under pressure to discharge patients quickly and make sure those patients are re admitted. But what happens when somebody has pneumonia, goes home, doesn't pick up their medication, they don't know how to take their medication, they're not following a good diet, they regress, they labs, stand up back in nursing facility.
When that happens, the hospital gets penalized. So our mission is to streamline that process so that hospitals are discharging using our software solutions right discharging to home care so that immediately we're picking up that patient, servicing them, making sure that someone is there, pick up the medication, take care of them, making sure they're not falling at home, making sure they're not regressing so they don't trigger back
into the hospital and trigger that penalty. By doing that, refunneling ourselves with a lot.
Of new referras, you said the hospital, So solving that hospital's problem, the hospital gets penalized as like a fee or a fine that the hospital gets.
Yeah, well it's not a fee or fine.
They will subtract up to three percent of their top line revenue for penalties on the following year. So let's just say the hospital is making a hundred million, right, the hospital margin eight percent, right, so they only make an eight million dollars profit.
Medicare will penalize them three percent on.
Revenue and reimbursement, right, But their operation costs are still going to cost them that ninety two million. So from going from one hundred million to ninety seven and having an underlying ninety two million dollars you know, cost to provide services, they're only making five million. That's that's almost forty percent loss in their bottom line if they get penalized.
How many patients would it would it take for like a hospital to get penalized for something like that to kick in.
Actually, it's it's like ratios, and so it depends on how many bits they have, how many what disease processes, because they're targeting six disease processes, pneumonia, heart failure, cabbage which is bypass surgery, complete joint replacement surgeries. So those are the ones that are like the high risk because they're expensive to take care of, and it's you know you the mentality of the government is we're paying you.
To fix them, fix them, you.
Know what I'm saying, like, fix them, make sure that they're healthy. But at the same time, we're only paying you for four days for this hospital state because that's the national average. So what is the hospital doing They need to get them out or is they losing body and they need to ensure that they don't come back.
So our company is.
Focusing on that transitional care and converting into long.
Term care for Yeah, you're helping making sure that they don't come back.
We help them to make sure they don't come back and saving their revenue.
Gotcha?
And so what's the business modecle? You said, like, eventually you want to take this public?
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It's different from Avalanche and like do what do you see? How did you replicate what you saw the larger company do to you? And how are you going to implement that in like really scaling aid Book? Is it to acquire other small sized companies and bring them under the umbrella of aid Brook or yeah, so.
Okay, So for me, what I cause?
I've been trying to push my partners in the home care company and Avalanche to think about things on a larger level. Always That's always been the case, right. I always wanted to push the business further. And what I realized is that they were going into business for the freedom that you know, owning your own business allows, right, you.
Could take vacation when you want, do what you want.
And they were comfortable with what we're making there, right, So they weren't looking to push They do want growth, they do want to make more money, but they're not willing to adjust their habits and mindset to.
Run multiple locations to expand into different states. They're not They're not there.
So the first thing that I'm doing with aid Book is assembling a team that has industry knowledge and working in public companies and highlight.
I know where I'm at.
Gotcha, Sorry about that, man.
So what I'm doing at aid Book is folks on talent that has worked in publicly traded companies and just building our infrastructure with that mindset. So not only are we going to be used in technology as and solving that problem for the hospital to be a driver of growth in our business, but we will entertain you know, acquisitions as well, because as we get close.
It makes more sense to so let me let me put it this way.
I believe that our software and aligning ourselves with the hospitals will allow us to grow by you know.
One hundred patients per month. Right.
If I'm growing by by one hundred patients per month in one city, then I need to set up in another city and grow an agency by one hundred patients a month by employing the same software, the same marketing team to do that.
Right.
So, if I'm going into a new state, rather than go through this lengthy you know, licensing process, which for Florida is going to take me four months to have the license and then another six.
Months to get Medicare approval, what I could do when I'm going.
Into a new state and better capitalized I could just start buying smaller mid sized companies at five times earnings and just point our marketing engine to them and scale them up to two thousand, three thousand patients per per an agency, per state.
Once I get to like twelve fifteen.
Thousand lives in the management, I have something that I can take to the public market, or once again step to a larger, you know, conglomerate and say, look, we're growing at one thousand patients per month. We don't see an end in our funnel. You're growing by acquiring companies right at five times earnings. If you just buy our system that's already functional and fully aligned with the hospitals, then you're going to grow at this rate in perpetuity, right,
So why wouldn't you want to buy this? But at the same time, I'll still be on the track to take the company public. So for me, the most important
thing is an initial team that has that experience. So I've already poached some talent from TopWare, and now I poached one person from from Emory the hospital system in Atlanta, And these are people who are interested in being involved in a startup with this With this trajectory in mind, that within five to seven years, we're going to exit and we're going to exit big, and we need to function this way and just replicating systems with that that you.
Would come to find in a public trading company.
So you'll see that most publicly traded companies are you know, will have one of the major accounting firms doing their accounting or at least doing their audits, like PwC for instance. So from from day one, our accounting structure has to be on point right because that happens if you if you notice, like when you're looking at like startups that are trying to go public, they some of them get jammed up because.
Of accounting, you know issues.
Is because they didn't have their structure right and now they got to get they got to spend two or three years getting their financial straight to then take the company public. So by building from from the very beginning with the mindset of this is this is how accounting.
Is done in publicly traded companies.
This is how much money is allocated to marketing spend versus revenue. Having all those details and people who are familiar with those details being on your team from the beginning is what you need. And also you're going to
need money to support that. A lot of one of the mistakes that we make, as you know, as a community is we'll start our business with too little money with our friends, with our family, and they're not skilled to take it to a certain point, and then we don't even have the discussion of what is the vision.
For the company?
Where are we trying to go, what are we trying to do, how are we trying to get there? Are our visions aligned? Are values aligned? And those things you need to set, you need to set them from the beginning. If you don't, you're gonna be building a company on a shaky foundation.
So you're gonna build a.
Company that you know at a certain point it can't grow anymore because your foundation isn't set.
Yeah, that's big. Obviously, I've heard of assets under management. I never heard of lives under management before, but makes sense if you're in the medical field.
So yeah, I mean that.
Like you said, I mean you just outlined your vision, and I think that that's important for entrepreneurs, whether it's big, small, middle whatever. You have to have a vision. And it's like you already kind of have an idea in your mind. Nothing ever goes according to plan, but at least you have a roadmap of where you want your company to go.
And that's more than half the battle right there. I think a lot of entrepreneurs are just winging it, winking up and just trying to figure it out day to day, like they're literally living day to day, and times like this it just really exposes that. And now you're in a financial crisis because you never really had a business plan. You just had you know, figure it out mentality as you go, and that can only take you so far.
Correct, It's it's a and the thing.
I'm lucky, really, I'm lucky, like just like like like like the VC dude that was just from Black Star, Yeah, kwami he When I was watching that, I was like, this is like my story, right because his father's a physician, he's helping out at the office, he's learning and he's watching and like having that that information coming into your mind from that young you start to just like you say, I think you say something. If you start looking at a yellow car, you start to notice more yellow cars.
Right, So if I am ready I'm looking.
At okay, my mom's staffing business, and I'm now I'm in the staffing business myself.
You start and I'm working in hospital.
Still you start having your eyes open to where's the money moving, how's it moving? So certain things that will go over your head don't go over your head anymore.
Certain keywords immediately R So it's it's the same thing.
But what I see with a lot of people is that they either they don't have much, you know, entrepreneurial experience, they get it later in life and they start.
Just winging it.
The best thing that you could do is, you know, hit what one do like a business a business template or a business model. It just look this Google business model and YouTube a business model video. It walks you through how you should be thinking about your business. The very first thing is what is your value proposition?
What do you often?
What problem are you fixing or what need are you addressing? What is what is that in your company? Right so at eight book, what is our value proposition? We're dealing with this problem that hospitals have of patients being readmitted, and that's the problem that we're trying to solve, and we're going to monetize that by solving that problem and by being the service provider.
To those patients.
Many how many the states are you operating in right now, right now?
Well, New York and then with eight book, it's going to be.
Florida, Florida. And when I'm thinking Florida, and I'm thinking, like when you said you want to grow your clients by one hundred per or thousand per year, you're in a state with the largest population, well the oldest population in the country. Was that done intentionally?
Actually not really, because Florida, like in New York, we're dealing mostly with Medicaid, managed law, term care right as the payer. Florida has a cap on how many waivers they put out.
Right, it's a red state mostly, so.
They put out you know, they do less spending, so a lot of the people here are self paid. But I liked Florida because, you know, I'm going to be living part time in Colombia.
So it's a good midpoint between Columbia and New York. So, and it has the international airports, the weather it's good, So that's why I chose. I chose Florida.
But I'm going to be expanding into every state that has you know, a thriving home care community, like home care infrastructure. So Florida North Carolina, Texas, Atlanta, or Georgia, Pennsylvania, California. So those are states that I would be willing to enter because I know that the home care infrastructure is good.
There you have it, ladies and gentlemen. So on the last segment, we're going to talk about your software system. That's actually something you're a lot going on. We go time on time the software system, and then we're going to bring home with everything yet you got going on now, So yeah, so we're going to talk about your software system. But before, one quick question about your company. So how do you raise money? Because I am you know, it's probably a lot as far as the expenses to run
these type of organizations. You say, you even have to pay upfront then you get reimbursed on the back end. So finance finances is always the biggest hurdle for any business for the most part. So how do you raise money? How do you have money coming in on a consistent basis to float your operations?
Okay, so in.
Looking at the staff and business that started with five thousand dollars five K and obviously that's undercapitalized.
Right, that's what ended up happening. Is that all right?
We're limited to how much services we can provide. Some people waiting a month to get paid because we were getting paid on a monthly basis. So first was like the most traditional people, You go to a bank, you apply for a line of credit, right, but that's only going to be if you have business history, right, and then they feel that you're credit worthy. But with time, those lines of credit, it was tapping. For one case,
it was tapping friends and family. And that's usually where most people start with either basic credit cards or getting money from the bank, right, But they're not let much and it's not enough to really turbo charge your company. It wasn't until I was trading stocks and building, you know, a tech company that I started to understand that starting with friends and family money is pools fight.
It's you know, it could get you started.
Starting with little credit cards and bank money is enough to get you started. But if you're really gonna try to expand your business, you're going to have to raise money from from institutional investors, right from VC firms, from angel investors. And their entire business model is to identify solid companies, pump money in with the intention solely.
To scale them. Right.
That's a little different than starting from scratch, right, because it's sometimes all right, so.
In the world, in the in the startup world.
Right, and it's not just tech startups because any obviously any industry could be a startup.
But in the.
Startup world, you your first objective is to develop an MVP, right, your minimally viable product, and that's the.
First thing that you need to finance.
Right. Prove that you have a product or service that the market is in demand for.
Prove that you can monetize it. That's the first thing that you should raise money for.
And if you're going to do it with your credit cards and with friends and family money, that's the time because you don't necessarily have to go out there and form a business. You just have to prove that you have a product or service that people.
Are willing to pay for.
Once you can prove that with this product or service, it costs, you know, ten thousand dollars a month to operate, but it generates fifty thousand dollars of money like annual profits. Once you can prove that relationship that money in. Doing this thing produces money out at a multiple larger than money in.
You can take that.
Little company to market and start raising money from angel and vests and venture capitalist and then.
There's gonna be different.
There's gonna be different levels of them, right, there's gonna be there's gonna be like Brooklyn what is it, Brooklyn Bread Ventures, Right, Charlie Charlie o'donnald is the guy who hits that fund. He likes to deal with companies that are at that seed level, that first investment usually five hundred thousand million in capital.
Then there's like the.
Series A, Series B and so on and some So there's some VC firms that only get in at that pre like like two hundred million dollar minimum. Like we don't look at any company that doesn't require two hundred million dollars or more. Right, So it's all about what we're trying to go. But the first, the first that seed funding of that that anywhere from half a million dollars to like one to one point five. There's there's VC firms that specialize in just that that. There's VC
firms that specialize in and then different sectors. Some are healthcare focused, some are technology focused, some are in the agnostic. It really depends, but you need to have some sort of traction some sort of proof that your business is growing. And I learned that by doing my tech startup because I was like, all right, I know I'm.
Gonna need money to fuel this thing.
And in going to like tech startup meetups, listening to the conversations, going to pitching events where you're actually you know, competing to raise money, or you are even just practicing you're you're pitching, you hear what the what the VC firms are interested in.
What's the cost to acquire a user? What is that user worth? How much?
How much does it cost to acquire a user? And what's the lifetime of a user? What's the value proposition here? That you're going to ask you those questions and sometimes you need to be asked that question, so you.
Can go back to your computer right right, right, right right, and then you you end.
Up start You end up creating what they're asking for. We need you to look like this. They you know, in the startuporld, a wey talk abo.
The hockey stick. They want your growth to be the hockey stick.
Right, gradual growth or if you just look at the that's viral right, look at COVID nineteen right.
That's truly the definition of going viral.
You look at the curve literally with.
The numbers and then it's exponential.
Yeah, that they're they're looking to see that you're on that trajectory, that there's going to be that level of absorption. So once you start looking at vcs to answer that questions, how do you raise money? How do you get the money? Once you start looking at them, it forces you to become, you know, a builder of a business because they want they want your business to succeed, but they can identify
that you're on shaky grounds. So they want your foundation to be tight, they want your team to be tight, they want there to be traction, they want the market size to be large enough.
And those are the things that they're interested in.
So as far as your your software system on time i TS, can you talk about that?
Yeah? Sure?
So a long time ITS was born out of me doing my fashion tech company. Right, my ex wife was interested in fashion. She had this idea and I was like, you know what, let's do it. So I found some web developers in India started building that fashion tech, built a fashion application. And I'm going around now as this is a break from healthcare, because I got kind of tired of it's been my whole life. So I'm going around function as the CEO of this tech fashion tech startup.
And I went to an accelerator, And an accelerator is kind of like a VC firm, but they take you from concept to the point where you.
Start to raise your first round.
So they forced, they mentor you, they coach you, they give you your initial money, they take like eight percent, right, they fund you maybe one hundred thousand, take eight percent of the company from jump and then they start telling they start modeling you so you can get that initial traction and then they take you to market the final do you graduate from an celebrator on pitch me. So there's tech stars, there's e R which is the one that I'm talking about.
There's there's a uh this.
There's tons of them, right and there some somewhere in New York, A lot of them are in San Francisco. So I was starting to go through that circuit, right, learning about the start of culture, learning how to raise money. So I go to I'm pitching at uh T E R A and the the principle there is his name is Mira Mirror.
It's like.
I'm looking at your resume I'm looking at your history and you're you're honestly proven as an entrepreneur. What the hell are you doing in fashion? Why don't you solve a problem in healthcare? And that's something I could get behind because that's that tells a better story. I could see that story. I don't see your connection. I don't see your understanding the fashion. This is this, this is a good idea, but do you have relevant experience in that field two to really see it through?
And he was like, so something in healthcare. So then I'm thinking back to my.
Homecare agency and I'm like, you know what's really annoying? Time sheets. We're functioning on paper time sheets where the home health aid went to the patient's house, worked for the week, patient signs off because that's something that the state requires.
They need proof that the service was provided, notes, that sort of thing.
So I was like, that timesheet, they have to bring it in by the deadline on a certain date so that they g get processed on time for payroll, and if they bring it in.
Late, they're still upset that they didn't get paid. So I was like, this is a nightmare.
So it's like, you know what, let me create a mobile application that allows my home health aids to capture their time sheet on their cell phone, right, and that's where.
On time was born.
So all times a home healthcare practice management solution that allows you to handle time and attendance, payroll, scheduling, billing. And we're now building the medical records portion, right so that nursing nurses, notes, etetera, because that's still on paper our company. And that's a solution that I'm going to provide to social built daycare, which is another part of the home care hustle, to home care agencies, and a version that's like industry agnostic as well. Were time and
attendance for any mobile worker. So if it's the cable guy, then he could punch in that I'm at this work site, I got here and get paid that way.
So that's what on time is.
Well, how long did it take to build out that platform, Well, I've been building that.
Since I've been building that since twenty fifteen, so the time and attendance, the first iteration of on time probably took about six months. And then that was built on a shaky foundation and we figured that out later. Then we rebuilt it. So this is like version two of the system. The first version was time and attendance and that's it. Then we built time and Attendance and schedule and then we started. Then we added billing because billing is done, you know, on these forms, it's a very
repetitive process. Manually put in the wrong billing code, you get rejected. You you won't know it until thirty days from there. So it was like, you know what, this is another problem within the company that we need to fix is we need to automate the billing process so that it's accurate and it's end to end. So the home healthy punches in a regislation. In your system, you run payroll by just selecting the date range. Payrolls processed and ran, and then you do the same thing you
select the date range the insurance company process. Billing is done, so I'm able to function with far less staff, right, I got less administrative staff.
I also outsourced part of my staff to Venezuela and Columbia, so I have some of my support there as well. So you know, and that was made possible by software. A simple question.
You could probably create a software solution in three to six months and then expand on it.
However, you need to.
I was reading on the platform that there's a GPS component. How does that work?
Okay, so the patient lives somewhere, right, So the patient gets entered in into the system and they get a GPS point for their home. The aid can only punch in when they're within like six meters of that point, so that verifies first of all that they were there.
Right. They can't pull the patient's name, they.
Can't do anything without being on site. So that's a GPS component. So it's like geo fencing. It's it's by using their GPS coordinate. This person is able to take an action only when they're at that same point. So they just have to turn on their GPS on their phone, rent to their location, punch in. It confirms the location, then allows them to mark off what they've done. They get a pace of bath reminders. You can also tell them what they need to do.
For the day.
Yeah. I would assume that also helps in attendance. Right if somebody says that at the location, you can one thousand percent prove that they were and how long they were, the duration of time so exactly that that helps out in the billing process too. Nobody's gonna getting overpaid or underpaid for what they did correct.
And also also the thing I really like about the whole story is that it's like you found This is a common theme with guests from our podcast, is that you found the need in the industry that you was already at. And it's like when people say like multiple streams of income, and it's like the same thing with like multiple businesses and different ideas. It's like, you don't have to do something completely different from what you're already doing.
You're already in the industry. You see a need for it, and it's like.
Okay, well, why not just create a software that can help out. But it's like now you've created not only multiple revenue streams, but also you stayed within your pocket, like you're not doing something completely foreign from what you're already doing because you have actually saw it. You're you're in the industry. You see that there's an issue with
processing payments and all that stuff. So it's like, okay, now, not only will it help the industry and make things more efficient, but it's also another source of revenue as well. And not even on a micro level. Regularly every day people can just you know, think about that it's like, you know, you have a job, and it's like, okay, well, how can I if I want to start a business, I don't have to do something completely different from my job.
I already know what I'm doing for a living. So maybe you know my side hustle is going to be a branch off of my job, like you said, like you, like Troy says all the time. If you're a teacher, you know, why not be why not start a tutoring company?
Right?
Like, you already teach science, so you know that there's a problem with kids in STEM and there's not enough science teachers and kids don't understand science properly, So why not, you know, have a tutoring program. Why not have an after school program? And I have a summer? Why not write a book?
Right?
This isn't far from what you're doing.
Create a protocol that's that proves that by studying this way, check.
This out for you.
Create a protocol that says, if students do X, Y, and Z, they see a twenty percent increase doing this thing that I've created, they see a twenty percent increase in their stamp scoops. Right, prove that in your school and then now you got something right there that you could sit there and say, hey, twenty percent increase. I'm going to sell this to every school, right, I'm gonna. I'm gonna This protocol is proven to do this in
schools are interested in having their scores increased. And you got something right there that's that's fundable, and it could be something as simple as a game.
You just have to prove it.
That's fat and your software is proprietory, correct, ye, So are we going to i mean scale this where we're actually selling it the software to hospitals and healthcare agencies as well. Yes, that's nice, Okay.
So to get you the full I'm gonna give you the full play. And I don't care because you know if anybody who's listening, I'll compete to me.
Right with my own idea.
That's my problem, right and that and that means that they're extraordinary as well, and that's probably somebody I wanted me.
I'll give you. I'll give you the full story. So the software.
Allowed on time allows me to run my operation very lead right. So I'm trying to bring everything onto the platform, so I eliminate paper, eliminate a lot of overhead and I could continue to outsource more and more of my talent too, you know countries where the wages are cheaper. Right, So that's that's that's what's happening with all the time.
I could license that out to you know, my competitors so that they could become more efficient and I and I'm gonna charge and I charge per patient, right, So when you wrote, my bottom line grows, right. But I also have an idea to franchise my business as well, because I get I get so many inquiries of how do I start?
Can you consult me? You know? And and I hit I tell them straight out.
I was like, based on how much I make now, right, I need to charge you one thousand dollars an hour for my time.
Right.
And I know that's a lot of money, but that's what I need to charge you because that's how much I'm earning.
Right.
So if I'm going to move my attention from what I'm doing, this is what it has to be.
You get what I'm saying. So I get a lot of those inquiries and they're like, you know what, how can I monetize this right in a larger way?
And it's like, maybe I need to to franchise a book, so that if they're either going to start a staffing company or they're going to start a home care agency. Hey, they're going to expand my brand, I'm going to earn three percent on their on their revenue or whatever the
case may be. They're going to use my software, that's another fee, and I can turn when I'm taught, when it's time for me to acquire or expand, I can either acquire what I've created because they're work functioning on the same infrastructure as me, and I can buy them out at five times earnings, and when I'm ready to go, just start buying back what I've already seeded, you know what I mean. That's that's one of the plays that
I have in mind. So you know, on the other side, like I said, our core focus, our core vision, and the problem that we're solving with aid book is.
To solve that discharge planning process.
Right, So that's that's a I'm just using the Google play here's the software for free.
It's proven to reduce your readmission rates.
But all that does it serves their bottom line, right, But all that does is allows me to collect all the referrals. So as I'm proving that this software reduces your readmission rates, right, and all of your referrals are all these all these six diseases are guaranteed to be discharged.
Through my solution. I control all the referrals.
I don't want to even charge them for that I can, but I control all the referrals, so I can wrap them to my FRANCHISESE.
I can route them to myself and grow massively because I control your referrals.
And it's free, and it's and it's and it's service is serving a basic need for your hospital.
So that's that's a full plane.
So that's why for me, it's it's it's as simple as you know, what, if I only succeed in Miami and I don't expand, and I don't whatever, I definitely could create what I what I have in New York, Right, I could bump that off for a few million dollars. I could probably get to to maybe four times of size and just my market and then made myself at
twenty five million. But I'm pretty damn sure that I'm going to get to the point that I'm saying that I'm going to get to, and then I'm going to have you know, maybe at one point two billion dollar exit.
And that's and that's the thinking, and that's and that's what I have in my mind.
It's like, how do I reach Like when you think about this thing about the virus, right, you got to spread that thing, right so that it comes in contact with more people.
And that costs to spread more and more and more. So you have.
To kind of set up these little cells or kind of transmit all over the country to see real growth.
You can't just saturate your one market. So that's the idea. For me.
It's like, all right, prove this concept, get it into hospitals, go to the next hospital, say hospital one is using this and every emission.
Rates are down and it's free. Just use our system.
Then going to the next city again, Like for me, the plan is Fort Laurdale, Miami, Tampa, Orlando, Jacksonville, if I prove if I prove it.
There, and I'm going to prove it there.
But when I prove it there, then it's back to the venture capital firms and saying, hey, look we're now growing up five hundred patients a month in Florida or whatever the number is. We're planning on doing the same thing in these ten states. But what we're gonna do, We're gonna acquire x amount of home core agencies. Right.
We're going to do it through through a role up strategy.
So we're going to buy one in new or one in Philly, one in Chicago, whatever markets I want to get into, I'm gonna buy them at one hundred or two hundred patient sizes or they're like, you know, two million.
Dollar acquisitions a piece.
So I need fifty million dollars to do that, and I'm going to just use the same engine that that I'm using in Florida with our discharge planning tool to scale those operations up.
We're gonna do that for two years.
That's what the fifty million dollars is for whatever the amount is, We're want to do that for two years.
We should grow to this point. Once we're at this point, we're going public. Done it. It's a no brander because the VC firm they're looking they're looking for a ten x on their money.
Right, So I think if they if they invested a million dollars, they're they're looking for a company.
Let's say invested a million dollars to buy twenty percent, right.
They're hoping that that twenty percent is going to one day be worth ten million, right, So for that twenty percent to be worth ten million, your company is going to need to be to be what for a fifty million dollar company?
Right? So the guy who's.
Investing when you're at a fifty when you're at a fifty million dollar company, and they're investing, I don't know, fifty million dollars, they're looking to get out for five hundred million, right, So what kind of company are you that you could raise fifty million dollars?
Is a five hundred million dollars exit possible for me? Right? So twenty percent?
So this needs to be a two billion dollar company for me to make the numbers.
That I'm looking for. But I'm showing.
Them this company is trading for its market cap is two billion, and they have thirty three thousand lives.
So if I'm.
Growing at you know, one thousand lives a month or one thousand lives a year, let's just say in in ten markets, that's ten thousand a year.
I'm going to get to that point.
So yes, of course, your fifty million dollar infusion will help me be worth two billion dollars per daion and that's when we're going to get out. That's when you get paid. And that's when the first guys get paid. And everybody throws a party.
Everybody that's a big party. That's the that's the that's the play.
That's the route shot, right, everybody, you gotta run a route and you just you just outlined your route. The worst case scenario use like ourself for a couple of million at the worst best case two point one billion.
It's a good you know, it's a good sit You're going to be number seven. We put up an article it was like six black billionaires in the country. You're gonna be number seven.
There it is, and we're gonna say, earn you a Lisha A first call man, it's been a pleasure speaking with you. Can you tell can you can you tell the people, uh you know, if they want to contact you or you know any uh you know, initiatives that you have going on stuff like that social media.
Absolutely, So if I guess there's a few people that would like to reach out, Okay, So if if you're interested in and starting a healthcare especially a home care agency or or staffing firm, I'm doing a video series on my YouTube channel INTP Life. It's shot right here, so I'm going through a step by step how do you do that? So if you're interested in that, just follow me on EMTP life that's Echo November Tango, Papa Life e NTP Life.
You'll find it guessing you guys will share a link, So that's for you guys.
Like I said, if you're looking for consultations, it's going to cost you. So if you have any questions, the best thing to do is leave them in the comment sections.
I can answer them for everybody. And that's why I'm doing it.
It's like I get these questions and I can't keep losing time. That's why he was doing it for real estate too, It's like how do you flip a house?
Like?
Man, here's the video, Man, watch that and again it so for anybody who's interested, just watch. Leave your questions and comments. I answer them, and I'll answer them in the video. Sometimes I'll do lives with people. If they're acting a particular question, I say, if you can't pay the consultation fee, then let's create the content together. Share your questions and I will answer maybe other people's questions.
So that's for them for people who are interested in I guess joining the team potentially, like, Hey, I'm interested in the story, I have this lovel expertise, and they kind of want to work with me in some way or they need software or anything like that. Just I guess go to aidbook dot com and use the contact form.
So that's and I spelled it aid book with two a's in the front, just so it can sort higher on the list, right, so I will be the first, Like there's there's always directories of the providers in the state.
So I was like, how do I be the first name on the list? I've got two a's in front of my day and I'm guaranteed to.
Be on at least one of the first to get called if somebody's just randomly looking it up.
So it's aid book with two a's, So a A I d e book dot com. There's a there's a contact forum. You could go there.
I think the site should have been posted up yesterday, So depending on when you released this, we'll dictate you know what's going on there.
But they could go there.
And if there's any investor listening or watching this and you're curious to learn more.
Than please reach out to me, let you know who you are.
What you're looking for, and we could have a conversation about where ead book is going as a company and why I think it's a winner, and why you probably want to put some dolls behind this. At some point, like I guess in the next maybe six months, I'll probably be doing a fundraising round, so that would include friends and family, right because I'm allowed to raise from
thirty five not accredited investors. So I'll do a friends and family round for people who are interested in that, and then probably raising anywhere from one to three million for the for that first, for that first, not to prove the concept in Florida. So if you guys are interested in that and want to kind of know when that is happening, then just reach out and we can continue to to.
Talk about it, all right, Troy Man, shout out to everybody, big shout out to everybody on patreon dot com. That is our product paid program. As you know, we have five different tiers. I want to give a big shout out to my man Dave. We had a great conversation.
Man.
He's looking to help us out. He's a Tier five member, so we called him and we had an amazing conversation. Like I said, and Rosetta who just joined that TIF looking forward to talking to her. And as you know, Tier four and five members, you have access to e y L University and ey L University has been on fire man. We have been adding so much content. We've been doing YouTube lives exclusive things. Man, So if you're
on there, thank you, and we appreciate your support. And everybody that's been supporting on the merch, we appreciate that. On Elisha dot com and everybody that has joined our real estate our private real estate group. Man, that is going crazy right now. Shout out to MG, the mortgage god brother who's been running that for us. Man, it's been going crazy. So everybody that's just supporting during these times, we really appreciate y'all.
Yeah, the merch, the merch is out. We're gonna add more hoodies. This is exclusive with me and Troy got right now, but we're gonna add more hoodies to the collection for the spring. And yeah, everybody, stay safe first
and foremost, and stay encouraged, stay positive. It's difficult times right now for a lot of people, but you know, this is a time to educate yourself and use use your quarantine time wisely, because at some point, you know, God willing, will be able to get back to businesses normal. But you know, what you have learned and what you applied from what you learned during this time will be very important.
And Eyo University.
Is Yeah, it's something that we're excited about, and we really ramped that up in the last couple of weeks. We got a private Facebook group for real estate headed by MG the Mortgage Guy, and yeah, just eyol University dot com.
You can go there and all the information is there. A big, big shout to everybody that's been tuning to our catalog of episodes. I see a lot of people posting since they have a lot of time now that they're home, they've been listening to the back episodes they've been watching on YouTube. Shout everybody that's on YouTube. We appreciate it. Man. Like we said, use the tom wisely. It's a great time to learn, it's a great time to educate yourself.
Yeah, and YouTube, shout out to YouTube. We're doing two webinars every week now on Monday and Thursday. And yeah, that's been really exciting live live YouTube webinars. So the book tip of this week is Crucial Conversations, recommended by call so Yes once again, Gos, thanks for rocking with us. Be safe out there. We'll see you next week. Peace Peace.
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