Amazon Inventory Planning: Forecasting and Funding

Transcript

Colleen: My name is Colleen Quattlebaum. And I'm here to talk to you about Amazon inventory planning, forecasting, and funding with the help of our expert Sean De Clercq from Kickfurther. He is the founder and CEO. He's joining us from Buffalo, New York. I'm joining from Richmond, Virginia, and we're looking forward to chatting with you today. We are recording this webinar. So if you have any questions, you're welcome to ask any questions in the chat or in the Q&A section of Zoom. And we will certainly send you the recording afterwards as well in case you missed anything or want to share it with anyone else. But without further ado, I will go ahead and just share our agenda. So to let you know some of the things that we plan on covering today.

Colleen: So this was a good time for us to do this webinar because we know that Prime Day is right around the corner. No, the date has not been announced yet. That's always a question that we get asked. Amazon has not shared that, but we know any day now they're going to notify everyone of the day of Prime Day, but we know it's coming up soon in just about a month, in early July. And then Q4 is right around the corner as well, and as soon as Prime Day is over, it's time to start preparing for fourth quarter. So there's a lot of forecasting and funding strategy that goes into that.

Colleen: So today we're going to talk with Sean about what you can do now for short term funding between now and Prime Day, and then some longer term planning for the holiday season and fourth quarter. We're going to talk about how to forecast your inventory needs, how to avoid stocking out and missing out on holiday sales, how reviews can assist with your inventory strategy and other strategies to improve your inventory processes.

Colleen: So again, if you have any questions throughout, feel free to put them in the chat or in the Q&A, and we're happy to address them. Or if for some reason we can't answer them, we'll try to get answers for you after the webinar or point you in the direction of maybe one of our other industry partners that might be able to help.

Colleen: So, as you know, there's many different pieces and parts to the inventory cycle when you're selling on Amazon with FBA. And today we're going to really focus on the forecasting piece and the funding piece. So eComEngine has a tool called RestockPro, which many of you are probably familiar with, but it's an FBA inventory management software that lets you know what to restock and when based on sales velocity. So that tool really helps sellers with forecasting what they need to sell, what they need to restock and when. And then combined with Kickfurther, who does the funding piece, we have a lot of knowledge that we can share. So I'm going to turn it over to Sean to talk a little bit more about what Kickfurther is.

Sean: Awesome. Thank you, Colleen. I appreciate that kind introduction. So Kickfurther, we are an inventory funding marketplace. And probably the biggest distinction between how Kickfurther works and how most other solutions within the market work is product businesses, every entrepreneur is aware. You have a ton of your assets sitting as inventory on your balance sheet. And what Kickfurther really does is we take those inventory assets and we turn them back into cash for you to grow your business, but then you get access to the inventory through an underlying consignment agreement.

Sean: So the way that actually works is our community of funders will buy your inventory at cost. It'll be placed on consignment with whatever product business we're working with. And then as we're tied into those digital inventory tracking systems or whatever else as sales come through, that triggers the underlying consignment agreement. And then the business is invoiced and ACH debited for the portion of sales against the cost of goods. So essentially it's pay as you sell inventory funding advanced at 100% against cost and it is not alone. So we don't take a broad lien across all assets of the business. And we're very, very flexible because we understand that that's super important to the entrepreneurs we work with.

Sean: So it works really simply, where you just come to Kickfurther, you provide us some information, the more information you can provide, the better through digital systems. You can go to apply.kickfurther.com. We'll give you a pre-approved number. That'll tell you how much inventory you could potentially fund on the platform. And then as you establish your sales periods, you kind of communicate to our funders how long you think it'll take for you to sell through that inventory. And then as long as everything looks good, you receive the funding on Kickfurther, receive the inventory and as you sell through the inventory, you pay our community back. And you can only do one co-op at a time, the first time around, but then the platform opens up very quickly and you can fund multiple SKUs across multiple consignment opportunities to scale your business up. We are the most flexible inventory funding solution for product entrepreneurs.

Colleen: Great. And Kickfurther has been recognized by and featured in a lot of top media outlets. And again, as he said, they've been around for a while. They've op funded over 1,000 different opportunities, over $100 million in funding and a 99% funding success rate. So they're a great partner of ours and we're happy to have them on our call today.

Sean: Thank you Colleen.

Colleen: Sure. So again, before we jump into the questions, I know we had a few more people that just joined. So I just want to recap what we plan on talking about today. Again, staying in stock is critical, especially during major sales events with Prime Day coming up just about a month away and fourth quarter will be here before we know it. So forecasting and funding is critical to the success of your Amazon business.

Colleen: So we're going to jump right in and talk about short term funding for Prime Day. I'm going to turn off my screen share here and jump into some questions for Sean. So between now and Prime Day, we only have a month, right? So there's not a lot that sellers can do at this time, but a lot of them have money that's already tied up that they've sent off to get their items produced. What can they do if they need more cash flow now for Prime Day? Is there anything that you can help with or any tips that you have?

Sean: Yeah, absolutely. So the nice thing is with today's digital economy, there are many solutions in market. So I'll kind of go from my perspective of most expensive to least expensive. And I think it starts at the very top in terms of short term funding with equity finance. So there are options, republic.co is one Wefunder, Crowdfunder. So there's groups where you can sell a piece of ownership of your business, to a group of outside investors. And then that can provide some short term cash.

Sean: The downside of that is we've seen a lot of groups like Perch, Thrasio, those groups are cooling off a little bit now. But they'll be back and it's going to get hot again in the future. And selling that equity today can reduce your long term outcomes. If you're looking for an exit opportunity in the future. And so it can end up being quite expensive, but the nice thing about equity is you don't have to pay it back. So you get that chunk of funding and then you can grow your business and you don't have to worry about paying it back through debt or anything else.

Sean: Really fast turnaround times are daily debit, merchant cash advance. There's lots of providers in the market here. These are groups that you kind of link your info, they'll just advance you some of your future revenue at a discount rate. And that's often not great to take right before the holiday season, because they often work looking at your trailing revenue. And then if you get a big jump in your sales, then your payback schedule accelerates and it makes that funding significantly more expensive.

Sean: So the best time to take merchant cash advance daily debit deals is right at the end of the biggest selling season, when you can leverage that nice revenue you just earned to achieve better rates and to achieve more funding. And then you also head into a slower selling season, which then reduces the total amount that you're expected to pay against these discounted purchases of future revenue programs.

Sean: And then further you've got, I won't mention business loans because business loans just take too long. So if you're really looking for the short term funding, the timing it takes to go through a local bank, unless you're relatively deep in the process, typically is just not a fast enough turnaround to deliver the needs for something like Prime Day, but would otherwise be a great solution. And then of course it's worth mentioning Kickfurther where we have a subscription model where businesses sign on for an annual subscription. They can access our marketplace of funders for a low monthly cost, which is governed by their 12 months revenue. And then they can receive cash against their liquid, against their inventory in the near term. And we typically take about seven to 10 days to get a business funded. Daily debit can get you cash in about 48 hours, sometimes 24 hours. They're probably the fastest, but one of the most expensive and then equity will be a longer term. It'll be like a few weeks to get that all done, but you don't have to pay it back.

Colleen: And so what if brands want to put some money towards advertising, especially with Prime Day coming up versus towards inventory? Are there any restrictions on the funding process at least with Kickfurther?

Sean: I mean, well, so the cool thing about what we do is essentially even if you have pre existing inventory, as long as it's not claimed by someone else, if you don't have a lien across your inventory, what you could do, so we have some processes in place. So we don't want to fund like stale inventory that's on its way to the liquidation house. So as long as the inventory is relatively fresh and we expect that there's going to be ongoing demand, we want to fund demand. We don't want to fund liquidate old inventory.

Sean: Then we can take your pre-existing inventory that's sitting in your warehouse, you can fund it at cost and turn that back into cash. And then as you sell through the inventory, you pay us back from the proceeds of those sales. So if you need short term cash funding for advertisements to pay partners for anything else, you can achieve that through Kickfurther or emerging cash advance or daily debit provider.

Colleen: Okay. Okay. Very good. And so Prime Day of course is a month away, but then right after Prime Day, we're going to be starting to think about fourth quarter getting ramped up and prepared for that. What do you recommend that brands or sellers do to avoid stocking out or missing out on opportunities for holiday sales?

Sean: Well, I think that what I'm seeing, we're seeing that there are increasing supply chain times, but also uncertain consumer behavior right now. So this is actually, we did this webinar before and it was easier. I think it was easier to answer the question before. But now we're seeing consumer behaviors shifting to they're not buying as many TVs and stuff. Now they're spending more on dining and travel and experiences. And so the answer to avoid stocking out is you want to, I don't know, predict how much you're going to sell. Isn't that the game that every entrepreneur wants to get to? And then you want to make sure that you don't undersell there and what we typically find and what we've heard from entrepreneurs that we work with is that it's more expensive to miss out on a sale from stocking out, than it is to carry inventory for a few more months.

Sean: And so it feels, at least the impression I'm getting, is that the general wisdom in any market has always been stock up a little bit more than what you think you're going to sell through. If you have to carry that inventory a little bit longer, as long as you're not buying into a fad or something that's going to go away, your ability to sell through that inventory in the coming months will still be present. And you carry a little bit of additional storage costs, but then you prevent your customers going to a competing product and potentially churning a customer or something else like that.

Sean: In the environment we're heading into now, I think it is riskier, to be frank, to carry excess inventory. We're seeing some retailers are getting hit with some impairment charges. There's some big names like Peloton that are getting crushed with inventory right now. So to the extent that you can forecast your inventory needs, which I know is something that eComEngine helps with, and then maybe going a little bit north of that and funding 5% more this year, as opposed to 10% more than what your predicted amount is to give yourself a bit of a cushion. I think would be appropriate, I think would be best practice.

Colleen: Yeah. And as you're mentioning excess inventory, that's understandable that maybe having excess inventory makes more sense than missing out on sales that could happen. If you're an FBA seller and you do that, just make sure they're keeping a close eye on your IPI score, your Inventory Performance Index score, and that you're using the Manage Inventory Health page. On that page you can manage both excess and aging inventory. You'll want to reduce any unproductive inventory, fix any stranded inventory, things like that, to make sure that you maintain a very high, strong IPI score. Because if your IPI score does drop below the threshold of 400, then you're subjected to more storage fees, limited storage. So you don't want to get in that situation. So maybe keeping a lot of it on hand, that excess inventory at your own warehouse versus that FBA makes a lot more sense. But at least it's in your hands, you have it here, makes a lot of sense.

Sean: Yeah. And I'm glad you brought that up. So that's something we see a lot of entrepreneurs do is they have two warehouse relationships. One that's cheaper, and they store like kind of maybe pallet quantities and they ship in pallet quantities, so it's more like a wholesale relationship. And then they run FBA and direct eCommerce through an FBA warehouse. And then they only ship to that FBA warehouse maybe one or two pallets at a time, so that they can maintain those scores and make everything look good from Amazon's perspective.

Colleen: Right. Right. Good. Well, let's see, so thinking again ahead to Q4 for brands that have to order and pay their supplier in the summer now, to get production started, but they won't be selling those items till fourth quarter, whether it's, more of a gift giving type item, or a seasonal item, or just that it's a longer lead time. What options do they have to fund that now? And it sounds like what you were saying is with Kickfurther, they could fund it now and not have to pay until they sell in Q4.

Sean: Yeah, exactly. So my background prior to starting Kickfurther is I was running a merchandising business. And one of my biggest selling items were 36 inch tall fiber optic Christmas trees that would spin and sparkle a little bit. So I had this exact problem where I would get my orders from my retailers in May and June, because they're trying to get ahead of their seasons for delivery in September, October. And then I wouldn't get paid until December. And so I'd be looking at six months between when I'd have to pay for inventory and when I would get paid. And the options in market for situations like that... and I had purchase orders, and we deal with some entrepreneurs that are pure e-commerce players, which is an even tougher spot to be in.

Sean: And so we realized that there weren't great solutions in market. There wasn't something that fit for an entrepreneur that was in my position. Either you take on a loan that usually the paybacks start right away, or there's some really expensive PO finance in market where they'll offer work in production finance. But when I was in market, they were charging me a 5% discount per month for PO finance because they considered it risky, and the inventory hadn't been delivered yet. And so it was very, very expensive. And most of the things, the options that fit that need, which is really work in production or PO finance, are very typically very expensive options.

Sean: And so what we've created at Kickfurther was literally to solve that need for entrepreneurs, which is a marketplace where other people want to take... there are people around the world that have their money sitting in bank accounts. It's literally losing value to inflation every single day. Every dollar you have sitting in a bank account, you can buy less with it today than you could yesterday. Not quite at that level, but almost. It's a crazy environment we live in. And so there are people that want to take that capital and support entrepreneurs. And they've never been able to, prior to having a marketplace solution like Kickfurther. And so what we say is, "Hey, let's give people a place that they can take their capital, support entrepreneurs and earn profits when that inventory sells." And that's been working really well for us as a marketplace solution. And so we created it to solve exactly that problem. You come, fund the inventory, it's placed on consignment and it's pay as you sell, as is consignment.

Colleen: Yeah. Making smart decisions now certainly will pay off by the end of the year, whether it's with funding or your inventory decisions, advertising decisions. Whether it's requesting more reviews now, it'll pay off later on to win the Buy Box more often. So making sure that you're always planning ahead in all of those areas is important.

Sean: Yeah.

Colleen: And that's one thing I wanted to mention is about reviews, is that reviews can impact your inventory decisions. You might not think of it that way, but if you're monitoring the reviews on the ASINs that you sell and the ASINs that even are competitors of yours. Take a look at whether the trends of those reviews are leaning more towards the negative, or if you're starting to see a positive trend, because the review trends are a leading indicator of sales. Whether your sales or orders are pretty flat, but if you start to get a few negative reviews, then that can really impact your opportunity to win the Buy Box. And then your orders will start trailing behind. And vice versa, if one of your competitors starts to get a lot of negative reviews, that could mean that as they're comparing your product to your competitor, you might start to get more orders. So make sure that you're looking at reviews closely because that can lead to some smarter inventory, restocking decisions.

Colleen: And reviews, of course, just have a wealth of information. They provide a lot of insight. If you're looking to develop a new product, before you even fund that product, take a look at reviews for similar or like items and see what people are saying about the packaging, about the actual product, what it's made of, what they're using it for. Maybe there's a way that you could bundle that item with something else that would make it stand out from the others that are selling on Amazon today. So definitely use reviews to help provide some insight into those restocking and inventory decisions that you're making.

Sean: Yeah. Did you hear about the reviews for the scented candles that all got tanked during COVID because people were complaining that they weren't scented?

Colleen: No, I did not hear about that one.

Sean: People were losing their sense of smell. And so scented candles, across Amazon, got slammed with negative reviews during the height of the pandemic. So just a funny little aside.

Colleen: That is funny. Here internally, we definitely share some of the funniest reviews that we see or the crazy reviews. But I had not heard about that one yet, but it makes sense. So what other tips do you have for, you know, whether it's Prime Day or Q4? Do you want to share any other tips and then I'll take a look? I think you might have a question or two.

Sean: Yeah. I would say I do think that consumer behavior will continue. So it's like people are still buying stuff, people are going to shop for the holidays. There's tension in the market right now, and maybe a little bit of fear. And I do think it's worth it. From where we are sitting, it does feel like people are going to keep buying stuff, but there might be a shift from luxury kind of goods to more economy level goods. So I do think that there are some waves in the market that we're paying close attention to in terms of where do we anticipate consumer spending will be going.

Sean: And to your point of looking at reviews or even looking at signals from groups like Target, and the major retailers are already talking about how they're seeing some trends shift in consumer behavior. So incorporating those data points as we head into a bit of an uncertain market here, as you're making your decisions for your own product business and thinking, am I more of a luxury product? Are my customers going to be feeling a bit of a pinch? Or am I more of like a grocery kind of product where people are going to have to buy no matter what? Is good thinking to head into, I think for this next few months.

Colleen: Okay. So do have a question, as I expected we would probably get this question, but when is Prime Day, which I addressed early on, but it has not been announced yet, but we do know it's going to be in July. So typically Amazon announces it a few weeks prior. So really any day now they should be announcing it. So as soon as we hear about it, we will be sure to blast it. I'm sure all the sellers are going to be blasting it everywhere as soon as somebody starts hearing about it. But hopefully it'll be announced in the next week or two, so everybody can plan accordingly.

Sean: Awesome. So you mentioned Colleen, the IPI score. I'm curious, what other tips does eComEngine have for entrepreneurs heading into this season? How can you get your account in the best shape to capture the opportunity coming up?

Colleen: Yeah, I think with IPI score, obviously all of your sales from Prime Day can really help your IPI score since your performance in Q3 is what will drive your IPI score going into fourth quarter. So making sure that your excess inventory percentage is in check, that you have a strong FBA sell through rate, that you've reduced your stranded inventory and just really looking at your inventory health dashboard in seller central. There's usually some tips that it will give you right there, based on your specific account of things that you could do.

Colleen: Another thing you can do now within the short term between now and Prime Day to help is to automate your feedback and review requests for all of your orders. Prime Day gets super busy and you only have 30 days to request reviews from sellers. So with Prime Day coming up in July, and you're going to be busy handling all of those orders, you want to make sure that you have a strong review strategy in place. We tend to see a pretty good spike in those first 10 days after Prime Day, we see a really good spike in reviews with the users who have FeedbackFive automating their review requests. So it's one of the best times to really capitalize on that momentum with more orders will equal more reviews, but you have to be asking for them in an automated way that makes it easy for you and your staff to take care of it.

Colleen: So FeedbackFive can help. It only takes two clicks to get set up. So it's super easy, you can get that up and running in no time. And then those reviews, once you get a lot of good strong reviews from your Prime Day sales, those will help with winning the Buy Box more often in fourth quarter with your holiday sales as well. So making sure that you not only have strong reviews, like good quality reviews and good quantity, but also recent reviews are very important. So if you're comparing your item to somebody else's item and your competitor has more recent reviews than yours, even if you have a lot more, people will start to think that your competitor might be the more modern, more up to date product, maybe yours is stale. So just making sure that you have a good combination of quantity, quality and recent reviews and getting your review strategy in place is something that's easy to do.

Sean: Monitor the IPI score, check on your reviews, maybe email your people today and ask for reviews if you haven't done so already.

Colleen: That's right. Yeah. And monitor your reviews for the ASINs that you're selling as well as the ones that your competitors are selling, to see what you can learn from that might help you. Especially around Prime Day. Maybe you're not doing a lot to advertise on Prime Day, or maybe your category or product doesn't tend to sell a lot on Prime Day, but look at what some other sellers are doing. Look at their reviews, see how much theirs have increased. What people are saying in July about the products that might help inform signature decisions going forward.

Colleen: And it looks like Becky on our team shared a couple of resources here in the chat. We have a guide for getting more reviews and an IPI checklist as well. But we do have another question here for Sean. Can you use inventory funding for products or variations you plan to introduce? And are there any criteria for qualifying?

Sean: Yeah, so good question. The answer is it depends, kind of. So if you are a sunglasses company and then you want to now start selling Bluetooth speakers, we're not interested in funding a new category of products. But if you're a sunglasses company and you have a new SKU of sunglasses that is like a new design that you feel very confident will sell, but it's roughly in the same style and you're selling it to the same customers then we can fund new SKUs within the same product category. But we can't fund outside of the products category where the entrepreneur is working.

Colleen: Okay. And then we have another question here. Will Amazon shrink restock limitations after announcing the Prime Day date? So that's a good question. I don't know the answer to that, whether or not that they're going to update your limitations on how much you can stock at Amazon once they announce the Prime Day date. But I would just keep your eye out for any deadlines, any criteria that they change leading up to Prime Day. I know in the past they've done that, especially during 2020 with COVID, they had a lot of restrictions on what could and could not be stocked at Amazon, different categories and amounts. So we will keep you posted if we see any important information around that, but we'll also do a little research on our end too, to see if anything's been mentioned in seller forms or anything. Good question.

Sean: That was something I remember from 2020 and also 2021, is that there was a lot of sellers that felt like they were affected by they would describe it as Amazon volatility. Where storage fees would go up relatively unexpectedly or whatever. And essentially during the holiday seasons, it didn't feel as predictable as Amazon had felt in previous years. Do you think that that's a trend that will continue or are we hopefully getting back to a more normal in 2022?

Colleen: I hope we're getting back to a more normal, that's for sure. But I think to your point, a lot of people are spending money on experiences and such as well, now that people are getting out and about more. So it will be interesting to see if people are spending as much money on materialistic things, retail, things. That purchasing on Amazon as people are out and about spending money on experiences. It could flatten out a little bit.

Colleen: A few more questions here. One says, can we use Prime Day sales to forecast for Q4 inventory needs? Is this a good best practice? So Prime Day sales forecasting for Q4, I think that it's definitely a leading indicator. Obviously depends on what you sell like right now here in Richmond, Virginia, it's summertime. So over Prime Day, if you're selling a baby pool or some kind of summer items, obviously those would not make sense probably in fourth quarter. So I think a lot depends on your product, what it is that you're selling and the time of year, whether it's seasonal or not.

Colleen: There's also certain items, of course, that are more personal, that people tend to buy for themselves versus as a gift. And we have noticed that on Prime Day, we think that another reason that we see a really good, significant bump in reviews after Prime Day is for one, people are excited about the deals that they get. So they're more motivated and excited to leave a review, but also we see that a lot more people tend to buy items for their self or their own household, versus for someone else. So Prime Day sales, it could be if you have a gift giving type of item, you might do better in Q4 than you will on Prime Day.

Colleen: But over fourth quarter, if people are purchasing items in October to give to someone at Christmas time, they're less likely to leave a review. Because in October, if this seller sends a review request, you only have 30 days to request a review. Well, by that point, it's only November. The buyer has not even given the gift yet, so they don't know if the product is good, if the person loves it, if it broke. So Prime Day, we see a much bigger spike in reviews versus fourth quarter, just because of that difference, the gift giving versus the personal buying for yourself.

Sean: Makes a ton of sense.

Colleen: But I definitely think that yeah, using Prime Day sales is a good leading indicator and you should consider that when you forecast for Q4. But it definitely takes the human element to jump in and take a look at the numbers, not just an automated system that's going to say "You sold this much on Prime Day, your sales velocity increased. You should sell this much in fourth quarter." It might not work out that way, depending on the category, et cetera.

Sean: Yeah. And if you're one of those baby pool companies after Prime Day, then it could be a good time to go look at Merchant Cash Advance because it's after you get your big sales glut that that'll become more affordable funding.

Colleen: All right. Well, it looks like we have another question coming in. I see the bubbles coming in, so feel free to type away. All right, what kind of review trends should we look for to forecast inventory needs? So the review trends, as I mentioned earlier, some review trends are, if you have a competitor's item, who's you're starting to see a lot of negative reviews, that might be a sign that as people compare your item to theirs, that your item might look like the better item and people might start choosing your item over your competitor a lot more often. Which could mean an opportunity to increase sales and you certainly don't want to stock out when your competitor could get that sale instead. Looking for a peak in or a trend in positive reviews. Even if your sales and orders are still kind of flat, if you start to get a few really good positive reviews, then as people are looking at your item, they might be more likely to convert to a sale. So that could start to happen more often and also lead to more need for more inventory.

Colleen: All right. Well, we will continue taking questions, but I wanted to just take a minute now to just share a little bit more about our partnership with Kickfurther. So I'll go ahead and just share my screen again real quick. Let's see. There we go. All right, so Kickfurther, as I mentioned at the beginning that we work very closely with them, they're a great partner of ours. And our tool, RestockPro, that helps with FBA inventory management and forecasting also has a piece in it that can immediately click over to Kickfurther to get your funding. So we have Restock Pro users that use Restock Pro to know what to restock and when, based on sales velocity, as well as a lot of other factors. But once they're notified or they receive an alert that they need to restock now, or they could miss out on sales, if they don't have that funding, then they're leaving money on the table.

Colleen: So making sure that our clients, when we figure out through Restock Pro that it's time for them to restock those items, we want to make sure that they have easy access to funding so that they can get those items restocked and continue making good revenue. So once you're in Restock Pro there's just an easy little button where you can learn how to restock now and pay later by funding your Amazon growth with Kickfurther. So it makes it super easy. And we've had some great success with clients using that with Kickfurther. And we'd be happy to share a little bit more with you if you're interested.

Colleen: And then we wanted to just take a minute too, and just give you a special offer today. So we talked a little bit about reviews as well. So we are offering a 60 day free trial of FeedbackFive, which is the number one rated feedback and review software in the Amazon Appstore. So just use that coupon code mentioned there, Q2-2022, to get a 60 day free trial and Kickfurther would love to talk to you. So if you are interested, please book a call and you will get a $50 Amazon gift card from Kickfurther, simply by just having a conversation with them. And they can learn about your business, what your needs are. And you can consider using Kickfurther for your funding needs, whether it's for advertising inventory, whatever piece of the business that you need. So yeah, any more details there on how to book a call Sean, or anything about that process that you want to share?

Sean: I think actually I don't have details on that for where to book that call. Maybe we can follow up with John and we can send out a link or something. So we'll follow up with something. The idea here is that we're doing something different, nobody's ever done this consignment. And so there's like a bit of a hump of like, "Hey, how is this different from a loan?" And all this other stuff. So we are looking for the opportunity to share what we're doing with some entrepreneurs, get their feedback. If the solution works, wonderful, happy to support their growth, otherwise just that call and feedback on what we're doing is wonderful.

Colleen: Great, well, we'll be sure to send out this recording as well as links that were shared today in the chat, as well as how to claim these special offers in an email to everybody who joined us today. So thank you again for registering and hope everybody has an awesome Prime Day and an even better fourth quarter. But we'll make sure that you have our contact information. If you have any questions about funding or forecasting, and if we can help in any way, and a big thanks to Sean and the Kickfurther team for joining us today.