The Future of Intellectual Property in Business, AI and Big Data

This week's guest, Nancy Steidl an International Business Consultant and  Intellectual Property Law Specialized in A.I & Big Data shares her honest opinion in everything you should know about Business, A.I, where the future is most likely going to and what that means to your business!

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Nancy Steidl

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Transcript

when people start businesses and they come to me and they say can you help me start a business cuz they don't know what they're doing actually I got um a proposal from someone said oh I want to set up this um new car factory look Elon mus has got millions in the bank and I'm like yeah you're 21 I I love your enthusiasm I think you're he's had years like you'll have years ahead and I can't invest in that because I don't invest in ideas I invest in we had a 10 15 minute conversation before before we join the studio you are this type of person who will give without have the expectation of getting anything M and that's why I want to say thank you for coming here today appreciate you yeah I I learned quite early life is that if you replace your expectations with appreciation right you just oh I started a business I appreciate that I have the mentality to start it you see or I appreciate that you know you're speaking my my partner always when we go for dinner and I say thank you for dinner he goes no no thank you for coming along with me so it's really I know it sounds really funny but you have to sort of like if somebody cuts me off in the road I go oh thank you for cutting me off or thank you for not thanking me uh allowing me to wait till you pass without saying thank you you know so if you change your ction and just um drop the expectations expectations they always lead that's so powerful always I honestly I appreciate that I understand you're very busy woman and you have all these amazing successes and St never busy I hate that word because busy means no one invites you busy means you're not a priority to that person like if someone says oh I'm so busy um it means I'm sorry but you're not I don't have time for you I I get that and I like that I like that part but also understand the part of how is it to be a business owner how is it to Be Your Own Boss the CEO especially if you're wearing a lot of different hats inside of your own company time becomes difficult sometimes yes and specifically for me right now time is very difficult well if you priortize like if I've got a diary and that makes life really easy for me so if someone says to me look could you go for lunch on you Tuesday I would never say no I'd say actually Wednesday would be better you know so I try to stay positive and just deflect like oh you know would you like to do the podcast at 9 o' at night actually why don't we do it on Wednesday at 9 so it's not like no sorry I can't because of the other things because then I feel the other person might think they're not a priority which they are it's just that they you know I can't fit them there but I'll fit them there so if you have a diary then you are prioritized and you know how everything can fit so everybody has an opportunity of your time I will steal that because right now right now people are calling me even my parents cuz I I'm working nonstop seven days a week like I'm at that stage yeah yeah you're early and they always say oh you don't have time for us anymore you don't care about us and it's not that but when they say that when they say that to you you say how about so you look at your diary and you say how about we meet on Sunday and believe me they'll stop saying that cuz when they say oh you never call or you never see okay how would I call you on Wednesday how would I do lunch with you on Sunday and maybe it might be two weeks but at least they it will settle them down to think you still love oh I will need to make this happen yeah if you say to them I'm so busy Mom I'm doing you know I'm starting a business it just makes them feel like you've NE they important yeah and they're not important anymore and they're you know they and I don't think that is that's the case it's just I don't come from a family who they run any businesses in in in their life and and I think as the first generation from from where I come from to start their own business and actually this is not the first one that's actually the second one it's difficult and especially if you don't know who you can talk to about certain things cuz there's only so much so many things I can tell you about how to run a business so with me specifically was mostly self-development who do I listen to who do I allow myself to get influenced by so I can do all these great things so I can achieve all the things that somebody else has did exactly in my Niche so don't waste years and years of trial and error and learn as much as I can but I I'll take your advice I I think you know in The Wizard of Oz and Dorothy means you know the you know the good wit she oh she you had it in you all the time you know you had it in you so I think people can be a bit lazy because they actually have everything they need inside yes it's good to sort of you know when people start businesses and they come to me and they say can you help me start a business because they don't know what they're doing then I can guide them but majority of the time I tell them like You' got to pull it out of yourself you know mean because you can get very lazy like sometimes I see on social media like oh you know um should I start this business and I'm just like well it's up to you it's like saying should I have a kid I don't know it's a massive responsibility it's not easy lots of people don't see that they that's another thing it's like the younger generation they go on Instagram they go on social oh you know what I actually I got um a proposal from someone said oh I want to set up this um new car factory look Elon mus has got millions in the bank and I'm like yeah you're 21 I I love your enthusiasm I think you're he's had years like you'll have years ahead and I can't invest in that because I don't invest in ideas I invest in you've got to show me the baby can walk and I have had in the past one situation where I invested in somebody who did a lot of the structure so she worked with me doing the runway and I seen her drive but then to try to get the plane Off The Runway and sell the product didn't have that in right the whole thing me so now I just invest people who can show me that are we ly yes and coming back will you edit and stuff along the way or um I try to keep things as not as much not was possible and I think once you have a flow in a conversation it's not worth just completely dist drop this flow yeah you just go with it coming back to what you say with ELO musk the one thing that I want to add to that Elon Musk was prepared and was sleeping to his office to if you're not prepared to do that yeah then I was and I like that I like that story because um like the founder of the spats underpant she has a picture online where she's in a whole like floor full of like um envelopes that she is putting all her SPS and she posted individually and when I help people start business I say that rags to Rich a story is what sells like everybody wants to be part of that Journey if you start a business and you go I'm going to get an office and drive a Lamborghini and it's almost like we missed the hike up Mount Everest and now you're up here but that's not going to last like there's no structure to that initial part you just jumped in a helicopter and went up the hill do you know me so it's it's nicer to show like even I've got my book coming out and I showed all the phases like me sitting at midnight writing the book and then when it came on a written copy and when it started um I had an interview with my editor and it was all these little things so people can go on that Journey with you rather than just you know jumping into this spending a lot of money a lot of people spend a lot of money starting business which is not needed the bare necess and I always say the business plan whatever you produce is business plan your IP to secure your trademarks your patents so this is the very first thing somebody should be doing 100% no matter what correct a lot of people they have a great idea and then they go we're going to go get some money we're going to go get a loan and people it's really hard to secure a loan on an idea it's an idea what you need to do is sacrifice yourself and prove the idea walk you know it's like saying I've got I'm pregnant and I've got this baby in my womb and it's going to be the next Naomi Castle okay you can't prove that yet unless you prove that this baby can do a catwalk you know me so the initial stages when you start a business is get a job okay and understand that you are not the business right right here's Dennis and Dennis steps into this entity and then at the end of the day comes home somebody's you know Brothers you know son that sort of thing that's a lot of people don't get that they think they are the business so when you start a business first of all when you start a business think of what you are talented okay so don't go set up a ice cream shop if you don't know anything about ice cream absolutely go get a job in ice cream and then if you feel that's what you want to do then start with a map when you said you invest in people instead of business ideas abely what are the things what are the key factors that you're looking for in those Personalities in those people for you to start investing or maybe what type of business models you deem they have the highest success rate for you to step in well they've got to have consistency right and they've got to have patience and they've got to and they have to have drive like they've got to get up every day how do you identify that since you might not be with them for every single step they doing well it's getting to I wouldn't like if you came to me today and said would you invest I wouldn't invest that want to see like I you know don't quote me on this but I remember I read somewhere where Peter the invested in Facebook and he said to Mark suckerberg you got to show me a million subscribers before I have any interest in that makes sense that's exactly it so if a you know if you have an idea and then you proved me like you worked really hard and now it's making some sales and a lot of people say well you know why invest in then but it's it's irrelevant when you invest in something so some sometimes something needs a hit but truthfully if your business is doing really good you don't really need investment you just recycle the money put it back in the business and keep growing it but um and then honestly if you are investable an investor finds you right because he wants a bit he wants a bit of that it's because I know a lot of people who have that mentality of I need to find investor earlier on so they can support me for marketing reasons for part for I don't know for take the thing off the ground I guess and then because I have this brilliant idea so for you that wouldn't be what you look for because again if I give the analogy of the baby right right so your baby comes out and then you want to put weight this money on this baby I see money as weight so slow you know you a baby comes out and then you say okay I'm going to get a loan to make this baby walk and so you've just put this weight on the shoulders of this baby so yeah I I struggle with that a lot when I see people say well I'll just get a bank loan and then you haven't even proved that the product can make money so how are you going to pay back that or even if you're going to enjoy it KNE time on 10 about personal fulfillment yes whether you enjoy this or not you've got to love it cuz you're with it 24/7 do you mean where the baby when your idea transforms into the business it's like you got to feed that baby every two hours and make the baby walk the wonderful thing what I witnessed through Co was a lot of people not taking accountability oh co right no you sunk your own business because there was no net wasn't money in a bank account to keep you going for six months your SWAT analysis wasn't strong enough because how do you know there was going to come a global downfall you would have known what to do and those businesses like Amazon and the ones that survived they had a very strong strong and the other ones that didn't you'll know that they don't l and a lot of local shops they did struggle having said that though um the ones that pivot to the right ideas during the pandemic that make more money than usual so I think it's about okay this same pandemic something happens that's affecting everybody how do you change how do you separate yourself from everybody else else and from keeping yourself in business and how you can you know just make keep making money cuz if I wake up and I say ah it's just it's a pandemic I can't do anything either way most of those businesses most of those restaurants they don't do anything either way so I won't do anything as well if I have that same mentality as everybody else then I won't succeed in any shape or form you need to be Innovative in business absolutely like the thing is um you know a lot of restaurants could have said look I got all the stock why don't I send out to my customers they had done a mailing list look I'll sell this to you for this amount of money hairdressers why didn't most hairdressers go okay um I've got this mailing list I'll put shampoo conditioner together I'll put um a USB plug in it how to cut your hair and I'll mail that to you every month for $9.99 because most of them didn't do a business on and most of them missed out the swad so there's a threat okay um other businesses like I had a lot of yoga teachers for examp this is a really good and um before even the pandemic hit I said to them okay what happens if your studio shut down for some uh well get online yeah okay so we go online right and then the pandemic kit and I said what happens if the internet goes down get a USB plug put your stuff on there and ship it out to your client so I would say a really good analogy is if your child is ill you're not just going to sit there and allow your child to be ill you will do everything to save your child absolutely and that's the way your mentality has to be in business and that's why I come back to when you've got a business idea which is great be be positive but be conservative and not over optimistic and don't go out and tell the entire world right it's a bit like some woman gets pregnant she's not going to go out and tell everybody in the first week might tell them in month four or five when she feels that there is a structure so in that period you're doing a business MH and you are putting all the things down of you know the kios ects the SWAT your influences everything so that you have a solid base you know I say business plan is like the foundation of the house when that'ss in place then you need an address which is the trademark yeah right makes sense and then the second floor is your marketing strategy and plan which are really different a lot of people just do a marketing plan and that collapses because there's no framework strategy then there's the third floor so think of this as a lighthouse see you've got B marketing brand is your personality of business so ask yourself look at your business okay what kind of personality what does it smell like what does it taste like what does it sound like what do you stand up for yes right and then the top one are all your other things like your social media strategy your sales strategy your advertising strategy and now that light house is at the top and the ships are finding you you see because of the light that's very an an easy way for you to descri it thank you for thank you for doing this for me problem business is very easy I think a lot of people complicated with overthinking right and complexities and uh like I said to you I've got a book coming out at the end of the year and it's um the art of analogies business how to start a business in layman's terms it's really you don't need to overthink things in business as long as you've got a plan and you follow plan and it needs to be flexible you know everything changes I go to my business plan all my strategies once a year and I up put them up I change them I adop and I it's a really good actually business plan because you can see okay I set up Facebook I had 11 followers you know when I first started now I'm going 22 followers and it is actually quite a gr yeah everybody it starts from zero exactly exactly but it's you can see your um you can see your development of what you what you're doing you are an international consultant for intellectual property Ai and Big Data yes I came across this forum from the world economic Forum they did their research and they said there were 10 topics the most high and the most popular topics in 2024 and um Ai and big big data was one of them how important would you say that subject is in today's words why is very important um I think from the intellectual property side that I'm com from um which I'm educated in um especially with ar icial intelligence it's so fast like if you're not in that sphere of things or that Niche you you don't really know what's going on but it is so fast and so much from the IP side um when you're using like chat gbt or Bart and you are creating things from grabbing things from the internet there's a lot of copyright issues and copyright infringements and we see that with authors moment um when you know they're disputing that their information on the Internet is pulled into chat gbt so things like that really you have to look in your business um your IP strategies um how you're using AI in your business and um you know the GT gdpr as well and how you're using that on the IP level but IP as well you should have a strategic plan with your IP in your business as well especially in this day and age when you say IP can you explain that a little expand more on that yes yeah because yeah I think is that your address on the web you mean or no no so that that's one thing is the IP but IP in uh in in my world stands for intellectual property okay so if we divided the two words of intellectual which is the creativeness what's in your mind and property is what you put on okay so if I let's say um a really good case was the Megan Mark which I won't go into a long length but she wrote a letter to her Father which he sold to the press and she won the case because the information that her words in her head went onto this piece of paper and then it was sent to him so he owns the piece of paper but he doesn't own the words and he doesn't have the right to those words to send it out so that's what IP is is that it's the creative expression that you are putting on so there are three main things in IP which is the trademark and then the copyright um and then the patent so if you look at all those three so trademark so if you came up with a name for your company that's the that is the um word and then you were to put the name into a design that's figurative but you're laying it on a piece of property right yeah the same with copyright so you say to yourself I'm going to write a book and those words are my brain and my mind and now I'm putting it on piece of paper then you copyright and same with patent so patent you say okay I'm going to design a new car so the ideas in my head and now I lay it on piece of paper and I'm going to get it packed so those are the main we also have Trade Secrets which um you can't register it's just you know like Kentucky Fried Chicken has the recipe which they trademarked they um uh sorry they registered for many years but then they decided not to do it and now they just have the trade secrets so they have a secret formula you work for cont chcken you have to sign an NDA and you can't tell anybody um and there's also the geographic location so if you decided you were going to produce a wine in Italy and name it Baux you would have a lot of problems with that because BAU is in France right um and there is indigenous trademarks very good case with with Kim Kardashian um who try to use the word kimono which is a really herit heritage heritage traditional name for Japan so she had to change that so it's a lot of branches to IP but especially as we enter the digital era and you are creating patents through the digital world or you are creating um pictures um you just have to be a little bit more conscious that you aren't stepping onto intellectual property infringement does that include the picture the AI generated pictures yes the it's a really weird subject that subject um I really really enjoy it because I did write an article about a paintbrush so if I had a paintbrush and I went to the forest and I decided I was going to paint the tree yeah am I infringing on Mother Nature because the tree's been there already and am I copying the tree um and it's very debatable because uh with AI it generates the paintbrush can't generate it without me using it but I'm also using the color palettes that other people have used yeah if you use paintbrush or Adobe on the computer you are AI assisting but you have to be really careful that you are not creating an image that's already out there there's a really interesting case which is called the new uh rembrand painting and what this cuz remember with copyright you can only hold it for 70 years after you pass and then it's open domain Mickey Mouse is coming open domain now but he took all of REM Bron's paintings and he did the scientific you know measurements of the eyes and he created a new rembrand painting but because Rembrandt is passed away there's no ownership of that but that's what I'm saying with AI it's really easy to do that so it's at the moment there's not enough rules and regulations for the whole IP factor in in the de in the digital era at the moment animals and robots cannot own AI sorry can't own the IP sory that's an interesting topic because AI has been ever since gas created ch um and now everything AI I don't think will have an end if I'm honest if not I think AI will take over most things including jobs in the near future that's why every every person I talk to I say hey if you're doing XYZ that can be replaced most likely it will be replaced so make sure you find a skill and be very good at it make money so you don't have to be one of those statistics um to your knowledge how important is AI today and to their trajectory or before 2030 so people can then at least um prepare yes it's steamrolling I I would say invest in a robot I know it sounds a bit funny but if you I I think what's really interesting is during Co AI became our connection because we were disconnected from humans and so we stood at home and we played on our phones and we were on our computers and it was like it was like really strange movement of AI moving in and as you see people on the tube and train they are just glued to their phone now I couldn't remember I could be wrong but before Co I didn't see that much glued to your phone and glued to your tablet glued whatever and so it's almost like it moved in and and that became her connection and so I do like for example my theory is by 20 32 there won't be any mobile phones will be Holograms so you will visit your friend as a hologram but you need to really be open to AI right I'm in a lot of author groups because I write a book and the oh it's horrible it's evil it's you're not writing your book it can't be stopped you just it needs to be you need to work with it not against it and you need to understand how you can work with it see yes in a lot of shops like you go into super markets and you see these machines now that are doing the work not person doing it but I do believe that there'll always have to be a human to U monitor it or to keep coding it so there will be but yes a lot of jobs will be replaced you look at Amazon in the warehouse and it's all robots now um so don't get upset with them but work with them and work alongside them it's interesting that you're saying that because going back a little bit to what happened with Co I think that was well I'm not going to talk about the whole pandemic thing but I'm going to talk about the whole what happened with AI and technology and so on and I think that was a test period for a lot of countries as well to in mind how they can see the behavior of their cities and their countries and based on how they Place those rules I'm going to leave it to that yes with that being said I do see and we do see this real time when he said with with the U Holograms with vrs apple came with a new headsets that you just wear and it's pretty much everything real time and you move in the curs with your eyes and the only thing you need to do is just double click and everything is real time so I think that we going to that era where we will be seeing those things sure and coming back to what you say with chap TBT I don't think it's evil or wrong to to be against CH JT personally if I hire somebody I will ask them to use CH gbt to save time so we can do more things and be more productive because it helps you gives you more ideas and then you can tellor those ideas based on who you are and based on your message and I think that is really powerful now if people seeing this in the wrong way or and they say oh I'm not going to use jgpt because XY Zs I think they're really missing out to a lot of different things CU oh completely I I think also um robotss are more effective like they're more efficient like you know if if you hire somebody for example to do things and then they take a smoke break and they're in the you know canteen drinking a cup of coffee or whatever yeah I do understand they need a break but if you really want to get something done get a robot to do because they don't uh they're not emotional and they'll just get the work done for you but with chat gbt I would say just take a bit of conscious that you are not copyright infringing and that you aren't stealing um people's work because you know there are people that work really hard and you know they write their stories but you can assist it and then amend it but it is much quicker and it's more uh effective but um when you talked about the VR uh actually uh I dip a lot into the metaverse as well so that's web 3.0 so so web one was when hot mail came and web two now is Facebook Instagram and web 3 we're going into the metaverse and the multi so in that cases you don't even need a VR set you just create your avatar and you're in there there's loads of conferences going on in there you can I join one of these met yeah definitely definitely show me those things yeah there's a small course you could take on it so you can learn a little bit about it um and you there's lots of money to be made in the metaverse as well because you can do conferences you can do broadcast in there Nike's in there doing fashion shows Louis Vuitton's in there doing fashion shows CU you can be anywhere you can be be anywhere in the world and then join and the great thing also is that um you know you could buy something from Nike and then have it in your virtual closet and say I don't want that anymore can I exchange it for something and so it's interesting and funny at the same time really really good yeah so a lot of businesses like JFK airport is in the metaverse um but there's a metaverse and then there's multiv Multiverse as well but you need to understand it's not regulated there's no jurisdiction so that makes a bit hard for the IP world like the intellectual property world because intellectual property is based by jurisdiction which is by countries um and so there is it's just a big you know sort of thing out there which is fantastic there's so many opportunities to um to make money in the metaverse as well I think if I remember this correctly there was a guy an american guy who bought real estate over in Metalist over how many millions worth of real estate and I think it was two years ago or last year or something like that and that went viral yes yeah you can buy land in there right an office but that's imaginary things right it's not imaginary it's virtual ah okay so think of like a really good example is like you know when you play those video games yeah I I know what that is but I'm saying how do you know that you have the right for that exactly back to what you said well you need if you buy a piece of property now you know that if you go to that piece of property that piece of property is going to be there exactly you need to be educated it's a bit like saying to you I'm from Canada okay go buy a land in Canada and you're go where do I buy it like what part is it good so you would have to research that it's bit like you're from Greece and you say to me go buy land and gree I'm thinking where would I buy land and Greece I don't know so you need to get educated about the areas like I said there's the um metaverse and then there's a multie as well so there's lots of different locations and areas that are worth more area like you know in London if you live in Mayfair it's going to be more expensive and worth more money than you know if you live out of London sort things so yeah you need to I read up on it a lot I take a lot of courses on it just so that I'm more educated and you see this is this is going to happen a I do it's again right it's a you know with Bitcoin and currency cryptocurrency you know it's not greatest reputation but I do believe we'll move that direction just with more safeguarding cuz like I said said I just repeated that there isn't a jurisdiction in there and it is all not regulated or anything like that but um yeah I I think we are going more digital and we're moving that direction it was very interesting because um I seen something on Facebook and it was a video from a little boy and it was from the 19 I think it was 1940s or 50s and the guy said what do you predict will happen in 2000 and he said I think we're going to be looking at streams and they're going to be talking to us and I seen that that's so crazy because you know just the way things are moving and social evolution is you know Daniel priy writes a book that everything happens uh 30 to 40 years later you know when when it's when it gets created because robots already in the 50s and you know we just didn't know much about them at that time there a lot of cons conspiracy theories about that oh of course of course you know everybody has a conspiracy about something so it's just important that you get educated and you're just constantly learning and um you know it's funny because uh you know uh I've done three master's degrees and my Master's that is in 2018 probably outdated now because you know I'm just um it's just it's evolving so quick if I were to invest in something whether that is with my knowledge increase my knowledge or bring down money so always something that I will need for the future yeah what the skill set would be based on your expertise knowledge and your vision towards the future well I'm a really risk adverse person right so um you know back in my days when I was a little bit non-risk I would just invest in something that I think oh this is great but now I sort of look at all the points to it something like a robot you know so so uh there's a robot in Singapore named Sophia she's the first robot that's got a passport I saw I saw a podcast with oh you did oh yeah okay yeah so and there's another guy a Russian guy I can't remember his name but he's just built a robot that looks like him um I think it's a very early stage because you really have to lay down all the risk aspects to a robot you know and what sort of robot that you would invest or anything that you come across like does it have a potential you need to see the layout the SWAT analysis understanding can this generate money you know it's a bit like looking at a car and saying oh I really like that car but is it going to die in 10 years time you know what I mean so how can somebody invest in robots is it through crypto um well it really really depends I mean you would put stocks into something wouldn't you or you would um um sort of put your money on onto something like Sophia is a good idea if you wanted to invest in her like you know I don't know where she would go and how that investment personally would work for me how she would generate maybe she would generate money through endorsement or sponsorship or you know um sometimes you invest in something like you know if you were to invest in ccer research you have to kind of go into that saying I'm investing ing that to better people but there might never be a return on that but it's something that I want to be part of I think digital era anything digital is a good investment as long as you understand what you're investing and if someone doesn't have any experience or knowledge about investing what would be your advice to go learn it yeah don't be silly and you know it's a bit like you're going to buy a house but do you doe Dil you look at you know you look at the leas or the Deeds the land register like do all of that before you jump into and and also understand that when you put money into something don't expect it back never put money don't lend money don't put money into anything without the expectation I might lose it and it never come back and if I are okay to lose it then I can invest that I agree with that because I have that same mentra on when it when I do marke for my own business obvious say how much money I'm willing to lose to test different things cuz and especially with the whole marketing world if you involved in that area because most businesses noral businesses I have to they have that the wrong way they all say okay how much money should I invest not how much money I'm comfortable losing instead yeah so I think that that have saved me the troubles the worries the anxiety and the stress from a lot of different things of course yes but yeah and then you think also like you know I give the analogy is like starting a business like having a baby and then you have this child and you think to yourself okay well how much am I going to invest into this child to make it a success and you know that kind of comes to your ex's strategy you say okay well I like this child eventually I mean you know the child has its own own I I think you know as a business owner you guide the child and you see what the child is good as it skills and so forth but it needs an exit so you'd say okay well maybe it'll become a lawyer and I need to make sure you know maybe help it through University and in the end when it exits it's on six figures or seven figures as a lawyer or it's an entrepreneur now or you know it took this route and I invested this money to help this child get get to where it's come and now because it's successful well hopefully the returns will come back to you you know but um it's just understanding looking whenever you start a business look at long-term goals like when you build a house think where am I going to exit if there's a fire or eventually the mentality is you need to exit in order to do other things and that exit has to be quite strong you know and putting the right assets into the business into the project in order for it to get the maximum X in that's brilliant and to wrap up things if you were to advise me or anybody else and since we're talking about exit strategies what time frames are we talking here and how should somebody see those things is it 10 years 15 years it's really up to them but just do an exit do an exit from day one again business plan and in that business plan should be your exit and all your intellectual property those are the main things um and you say okay I see that I'm going to exit this business in 15 years and I'm going to exit for 15 million there's no problem with that you can put any figure aim high but you have to be able to put the Assets in it every year to get to that 15 so business plan is asset number one marketing strategy asset two uh your IP that's an asset um your marketing strategy your brand strategy social media then all the key players your customers your likes that all becomes asset a really good analogy is the two cars so you have car a which is just a car but car B over the years you put surround sound You' put TVs in the back you've put plush interior and when we go sell these cars that car is going to be worth more and that car is going to be more reliable and that's because you put in the effort in that so you can merge it you can merge the business acquisition you could stay on as a board to give advice and then you know they they pay you your 15 million and you go up and do something else like Bill Gates did like Mark Zuckerberg did they've all done that your job in life is to well my job is to help as many people as I can and then once I have helped that business grow to its full potential then maybe somebody else can take it over and expand it further that's brilliant yeah I love that example that analogy yeah so that wraps up out today's episode where can people find you and follow you on social fantastic yeah no thank you so much for having me I've really enjoyed this um a pleasure um podcast so I'm available on LinkedIn under my name Nancy style um I've also got an author page on Facebook so it's nany title author my book is coming out at the December time but um you can pre-order so I'm on my website which is ww.the busm mission.com and we have a shop there you purchase or pre-order the book um I'm on YouTube I've got a little YouTube channel as well I don't use it that much but there's lots of information I do lots of tutorials and talk about all the perks about starting a business and yeah so you can yeah so if you guys enjoyed today's episode make sure you go subscribe to all the channels and go subscribe to our Channel as well that's cast soci show and I'll see you next time