Podcast Ep 90 | Annual Strategic Thinking Meeting

The Annu­al Strate­gic Think­ing meet­ing is one of the most impor­tant meet­ings on the cal­en­dar. It’s where a lead­er­ship team decides the strat­e­gy for the com­pa­ny and sets goals for the next year (and 3‑years). Also, that strat­e­gy should clear­ly inform peo­ple in the busi­ness about the com­pa­ny focus — and what to say NO to through­out the year.

In this episode, Brad and Kevin discuss:

• Why you need an Annu­al Strate­gic Think­ing meeting
• What an annu­al meet­ing agen­da must include
• Tips for a suc­cess­ful annu­al meeting.

EPISODE TRAN­SCRIPT

Please note that this episode was tran­scribed using an AI appli­ca­tion and may not be 100% gram­mat­i­cal­ly cor­rect – but it will still allow you to scan the episode for key content.

Kevin Lawrence 00:13

Wel­come to the growth whis­pers pod­cast where every­thing we talk about is build­ing endur­ing great com­pa­nies, not just great com­pa­nies, not just endur­ing com­pa­nies and grow­ing, endur­ing great ones, which means they’re around for decades and con­tin­ue to thrive, ide­al­ly, from lead­er­ship team to lead­er­ship team, maybe even gen­er­a­tion to gen­er­a­tion. That’s what we’re pas­sion­ate about. I’m Kevin Lawrence. I’m here today, as always, with my co host, Brad Giles, Brad. Hel­lo, and how are you today?

Brad Giles 00:39

I’m doing very well. Thank you, Kevin, very well. Had a very good week­end in our South­west. And look­ing for­ward to an inter­est­ing top­ic today.

Kevin Lawrence 00:48

Yes, me too. Yeah, I was down in Palm Springs last week work­ing with a com­pa­ny I’ve been work­ing with for a decade 40 annu­al and quar­ter­ly meet­ings lat­er. And I mean, they’re just like, we’re laugh­ing as we’re review­ing the results because it’s just incred­i­ble how well they’re doing huge per­cent­age of a play­ers and results that fol­low. It’s incred­i­ble. So let’s get right into it, we got a real­ly great show. Today, we’re talk­ing about the annu­al strate­gic think­ing, meet­ing, reset­ting the whole thing, which is what we were doing in Palm Springs last week, over the last we did over four days, but three days of work­ing. So to kick it off, what’s the word of the day, Brad? What’s your Word of the Day?

Brad Giles 01:33

What is dis­ci­pline? So I’ve been watch­ing this Bea­t­les doc­u­men­tary. And it’s about real­ly the last record­ing ses­sion of the Bea­t­les. And not long before a few months, I think before their man­ag­er Bri­an Epstein had passed away, trag­i­cal­ly. And what they were say­ing is that we don’t, we’ve lost the dis­ci­pline, that where we’ve got some­one who tells us what to do, and not to do and to keep us orga­nized. And they were self reflect­ing on that in the way that a coach does. In the wast­ing Yeah, in the way that a coach does. And through. So through that lens, I was real­ly think­ing about how they were they knew that they were strug­gling, because they lost that that cen­tral point of dis­ci­pline that was exter­nal to the band, which, as you may know, only a mat­ter of months lat­er, the Bea­t­les had split up. So dis­ci­pline, what’s your word?

Kevin Lawrence 02:33

Minus fes­tive. You know, we’re com­ing into the fes­tive sea­son here. And you know, for those that cel­e­brate Christ­mas, or what­ev­er the kind of faith that peo­ple have, and just, you know, spend­ing some time with my fam­i­ly, just think­ing about how, you know, there’s dif­fer­ent sea­sons where and you know, in the Christ­mas or fes­tive sea­son is one where it brings a whole bunch of joy to it, you know, peo­ple dec­o­rate their homes, they think about bring­ing in hav­ing spe­cial gath­er­ings and just how that kind of puts some sparkle on life and makes things a lit­tle more excit­ing. More time con­nect­ing, and just how that’s it’s, they’re great tra­di­tions that bring peo­ple together.

Brad Giles 03:14

Yeah, life would be nowhere near the same with­out them. That’s for sure. Right? So anoth­er great tra­di­tion is the annu­al strate­gic think­ing meet­ing. But before we do that, I want to hit you try to stitch togeth­er discipline.

Kevin Lawrence 03:29

First. Yeah, it’s its fes­tive dis­ci­pline. It’s like the It’s the joy of dis­ci­pline, Brad, you got joy, and fun and bring­ing peo­ple togeth­er. And then you got dis­ci­pline, and it takes good dis­ci­pline, to have great gath­er­ings of peo­ple. You got to plan and get orga­nized dis­ci­pline and fes­tive dis­ci­pline. All right. So yeah, strate­gic plan, the annu­al I’m just if you did­n’t just fresh off one in, in Palm Springs, and, you know, it’s, it’s one of the most impor­tant times of the year for a com­pa­ny, you know, it just, you know, just as hol­i­day gath­er­ings are one of the most impor­tant times of year for some fam­i­lies. But for a com­pa­ny, it’s every­one comes togeth­er and has time to step out of the busi­ness and zoom out from what have prospec­tive to real­ly, quote, get on the busi­ness. And think about it in a way before they drop back into exe­cu­tion mode. So it’s incred­i­bly impact­ful. And is, you know, and the one of the key things that we were talk­ing about, as we’re prepar­ing for the show today, is it you know, it’s, it’s at least too often three days that peo­ple some peo­ple will spend four or five, but you got to spend a few days, so you’re not rushed. So you have time to real­ly con­tem­plate and reflect.

Brad Giles 04:40

Yeah, it’s it real­ly, it real­ly sets the basis for all of the oth­er meet­ings. So what we’re going to be doing over the next five episodes is a series about the meet­ing rhythm. So today, obvi­ous­ly we’re talk­ing about the strate­gic annu­al the strate­gic think­ing meet­ing. Then next week, we’re talk­ing about the quar­ter order­ly exe­cu­tion plan­ning meet­ing. And then we’re talk­ing about the month­ly lead­er­ship team meet­ing. And then the week after that the week­ly meet­ing, and then the week after that the dai­ly hud­dle. So real­ly, through these five episodes, you’ll get a bit of an under­stand­ing of the meet­ing rhythm in its whole. And then I mean, what is the meet­ing rhythm mat­ter, Kevin?

Kevin Lawrence 05:24

Well, let’s because it keeps us focused and aligned, it also keeps us account­able. When we get into the day job, we get caught up in every­thing that’s going on, often in short term issues. And this meet­ing rhythm recon­nects us to what’s most impor­tant, it con­nects us to our major goals that march­es for­ward to be the com­pa­ny we want to be, ver­sus the dai­ly dra­ma that we can get lost in.

Brad Giles 05:46

Yeah. So we’ve done anoth­er episode, kind of con­nect­ed to the annu­al strate­gic think­ing make it the annu­al strate­gic think­ing meet­ing, thank you. And that’s Episode 85, how to get the most from a strate­gic plan­ning frame­work. So you can cer­tain­ly have a look at that as a ref­er­ence point. But as you said, it’s real­ly a two day meet­ing, some com­pa­nies have a three day some days, some com­pa­nies have a bit more, but you need enough time to build a strat­e­gy, that you’ll be con­fi­dent for the next four quar­ters, essen­tial­ly, until the next strate­gic meet­ing, that depends on the size of your com­pa­ny. And how dynam­ic the mar­ket is, I sup­pose that bit of best prac­tice could be two, maybe three days agree.

Kevin Lawrence 06:38

Exact­ly. And ide­al­ly, with a lot of the com­pa­nies that we work with, depend­ing on how the year is going might depict the place that we have the meet­ing. So the com­pa­ny that I was just with her US based, and often we would go and have our meet­ing in Mex­i­co or some­where else for in the US, it’s a nice place to get away to clients or work with­in India, we’ve done them in many dif­fer­ent loca­tions all around the world. They inter­est­ing­ly tie it in to doing tours of sim­i­lar com­pa­nies like there’s to do a bit of learn­ing and, and rela­tion­ship build­ing with sim­i­lar types of busi­ness­es in what­ev­er city they go to. So we go to a bet­ter loca­tions when the busi­ness is hav­ing a bet­ter year. But no mat­ter what it’s get­ting off site togeth­er for those, you know, no two, three or four days. And as we roll for­ward, as some teams are more vir­tu­al more often this meet­ing becomes more impor­tant because of the bond­ing and align­ment that happens.

Brad Giles 07:35

Yeah. So you touched on a real­ly impor­tant point there, which is best prac­tices to have it off site not to have it in the com­pa­ny meet­ing room. Gosh, no. But some peo­ple think that way. We’ve got a meet­ing room. Why is

Kevin Lawrence 07:48

that a hor­ri­ble idea? Brad? Why is it hor­ri­ble to have it in your com­pa­ny meet­ing room, espe­cial­ly for the annu­al I could argue for the quar­ter. But why is par­tic­u­lar for the annual

Brad Giles 07:58

I think psy­chol­o­gy, it tells you it’s impor­tant. Num­ber one, it tells you it’s it has a dif­fer­ent lev­el of impor­tance than oth­er meet­ings. But num­ber two, you’re not dis­tract­ed. So you can’t, you can’t walk out to the bath­room in a break and get accost­ed by some­one else in the firm who’s going to ask you 10 or 20 dif­fer­ent ques­tions that are going to take your mind off. So this is real­ly about deep work. Get it is think­ing is

Kevin Lawrence 08:28

and great way to put. And the oth­er piece is ide­al­ly in a per­fect sce­nario. Some of the best ones is you’re stay­ing togeth­er in the same house. So for exam­ple, the one we just did in Palm Springs, which is much like our team one that we did in Whistler in Sep­tem­ber or Octo­ber, sor­ry. But in this house, we have we rent­ed two hous­es next door because there were 10 of us and we want every­one to have their own room. But we had a mas­sive work place. And there’s also a pool and a hot tub and places to play games and all of these things. There’s room for break­outs all over the place if you find the right house, but we had a chef who would come in and cook break­fast and lunch for us. We were going out for din­ner, I think all the nights except for one. But it gave us an amaz­ing foun­da­tion. But we had time togeth­er in the morn­ing and you’re eat­ing togeth­er and you’re hang­ing out at night, all these activ­i­ties real­ly helped to bond you, which is dif­fer­ent than a hotel room. Because when the meet­ing is over, peo­ple go back and do their email, talk to their fam­i­ly and do all those oth­er things. And it’s not that you should­n’t talk to fam­i­ly. That’s great. But the idea is you’re togeth­er for 4870 to 96 hours, what­ev­er it hap­pens to be. And that’s there’s major spillover ben­e­fits you get from that. Absolute­ly. Absolute­ly. Some­body I know owns a retreat cen­ter that you can do that in Is that true, Brad? That’s true.

Brad Giles 09:50

Yeah, we’ve got a retreat cen­ter here in West­ern Aus­tralia, called heart­beat retreat, and it’s, you know, it’s per­fect for that kind of thing. Let’s step Out of the adverts? Well, that’s why we got it because we’ve got so many teams and we know how hard it is to get a real­ly amaz­ing place to go, I guess traits. And so let’s go in. So we’ve got real­ly sev­en items that you have to cov­er over­all key impor­tant items about the annu­al strate­gic think­ing meet­ing. So first of all, why does it mat­ter? Why does it mat­ter to have a annu­al strate­gic think­ing meet­ing? It answers the ques­tion, what is our strat­e­gy? So there’s no oth­er meet­ing in the cal­en­dar, where we’re pure­ly ded­i­cat­ed to evolv­ing, under­stand­ing and decid­ing our strat­e­gy? And remem­ber that a good strat­e­gy tells us what to say no to. So then when we spin off into the 90 day quar­ter­ly exe­cu­tion plan­ning meet­ings, we know what to say no to where we under­stand, because we’ve set that at the annual

Kevin Lawrence 11:07

Yeah, 100%. It’s, and it’s not com­plex, but you need to have the time to be able to do that. The rest of the meet­ings, you’re very much in exe­cu­tion mode. This is the time when you zoom out, con­tem­plate, think about dif­fer­ent things. So at this meet­ing in Palm Springs, we’re talk­ing about, well, what do we want the busi­ness to look like at 20? In 2030, which is, you know, eight cal­en­dar years down the road for nine, nine years down the road? Have we had time to talk about that? No, we had time just to sit and real­ly won­der what could that be like? Well, what are not be like? And again, nor­mal­ly the oth­er meet­ings, you don’t have time to think about that? Yeah, so that’s, that’s crazy. So our sec­ond, the sec­ond major thing is, is review­ing the pre­vi­ous year, a full review. And we’re look­ing at the review of the finan­cials, obvi­ous, but you know, some­times peo­ple don’t put enough ener­gy into that. And with insight of what’s work­ing, what’s not work­ing, what do we have to do dif­fer­ent­ly? Review­ing of the peo­ple look­ing through the key peo­ple in the team? Who are the high per­form­ers? Who are the low per­form­ers, who should­n’t be in the com­pa­ny? And how are we going to do that? How are we going to grow devel­op the team? And then what are the gaps, the key peo­ple we have to hire? And then the strat­e­gy review, review of all the exe­cu­tion plans that we had. Yeah, and real­ly deep, and then also tak­ing a look at the cul­ture, how’s the cul­ture of the busi­ness? So it’s a real time to dress down the busi­ness and see what’s work­ing, what’s not? How do we do it bet­ter, because aside from being account­able to what we’ve com­mit­ted, you know, the rest of the meet­ing is about do it bet­ter next year, because we’re reset­ting that next plan.

Brad Giles 12:46

Yeah, that’s an impor­tant point, there is a tran­si­tion. And I’ve actu­al­ly got a slide when I get to this point, which is a large pho­to of a but­ton, and it says reset. So we go through that annu­al per­for­mance, all of the kind of things that you’ve dis­cussed, what worked, what did­n’t, did we achieve our pri­or­i­ties, et cetera, et cetera, et cetera. And then, and we achieve our pri­or­i­ties for the past quar­ter. And then there comes a point, it’s like, now we’ve pressed the reset but­ton, what­ev­er has hap­pened, has hap­pened. Now it’s time to move for­ward. Let’s get stuck into it. And that real­ly takes us to the next point, which is start­ing at the top of the moun­tain and talk­ing about how are we per­form­ing on how I Corps ide­olo­gies, and ini­tial­ly, obvi­ous­ly, our big, hairy, auda­cious goal? How are we work­ing with our big hairy, auda­cious goal isn’t per­form­ing. And so we’ve, we’ve got a, an episode on this episode 87, which is the five main B hag big, hairy, auda­cious goal, mis­takes that you may want to ref­er­ence for that. But yeah, we begin with the B hag, and the core val­ues and the core pur­pose, how are they work­ing in the com­pa­ny? Are they still right? Where are the errors, those types of things? Yeah,

Kevin Lawrence 14:05

and you know, and often, every­one looks at dif­fer­ent strate­gic tools to help them look at their busi­ness. And we get into a bunch of these tools, and lots of the com­pa­nies who work with take, espe­cial­ly the ones that have been with us to spend time with Jim Collins in his lab, they will also take a look and review the valid­i­ty of the hedge­hog and the valid­i­ty of their fly­wheel and the health of their fly­wheel and what needs to hap­pen next, I would also some of this falls into our next point, as well. But tak­ing a look at these things that you’re using to define and strength­en your com­pa­ny and just check­ing in on them, what’s the health of them and what might mean need to do different?

Brad Giles 14:45

Yeah, yeah. And there is no not real­ly any oth­er time in the year when you might have this as an agen­da item. So we then move on to a strate­gic analy­sis of the exter­nal and inter­nal envi­ron­ment, again, many tools that you could use for this. But we’ve got to assess what’s chang­ing in the mar­ket. What, what is the tech­nol­o­gy that could impact us the soci­etal changes, if we’re not doing this at least annu­al­ly, you know, there could be things that could arise that we’re not going to be aware of. And we could act too late. So ded­i­cat­ing time to look­ing inside and out­side the firm as an analysis.

Kevin Lawrence 15:30

And so for exam­ple, some of the tools that we might look at is you might look at a SWOT or strengths, weak­ness­es and trends. There’s Porter’s Five Forces, you know, oth­er tools that have you be able to reflect on this in a struc­tured way.

Brad Giles 15:43

Indeed, indeed. And then we once we under­stand that we can move on to the next point, which is, how will you be dif­fer­ent? Michael Porter’s got some great tools on this that, that we’ve cov­ered off before. How will you be dif­fer­ent in the mar­ket? How will you avoid com­modi­ti­za­tion? And so try­ing to under­stand, in your firm, what’s worked, what has­n’t, and apply­ing some tools to the think­ing that is dif­fer­en­ti­a­tion in the mar­ket in which you play?

Kevin Lawrence 16:16

Yeah, and this is, we’ve done anoth­er episode on this, by the way, it’s also dif­fer­en­ti­a­tion in your whole val­ue chain, ver­sus just in your mar­ket­ing and how you’re com­mu­ni­cat­ing. And those are, it’s the core dif­fer­en­ti­a­tion in the val­ue chain that makes you com­pete very, very com­pet­i­tive. And a mar­ket­ing dif­fer­en­ti­a­tion is good. It’s just not as impact­ful and sus­tain­able or endur­ing as the as the core mod­el differentiated,

Brad Giles 16:43

shout out to our mar­ket­ing friends who do a great job. But mar­ket­ing is designed to only focus on the cus­tomer side of the equa­tion, where strat­e­gy focus­es on the entire val­ue chain. And I can already imag­ine the blank looks on the mar­ket­ing teams faces when I say that, because I’ve said it and had those plant looks before

Kevin Lawrence 17:03

1. Yeah. And one is, it’s almost dif­fer­en­ti­a­tion through busi­ness mod­el ver­sus dif­fer­en­ti­a­tion between through posi­tion­ing and how you’re com­mu­ni­cat­ing with cus­tomers. So excellent.

Brad Giles 17:17

And then final­ly, we work to based on that dif­fer­en­ti­at­ed dif­fer­en­ti­a­tion, we moved to decide what are the com­pa­ny goals, the top three to five pri­or­i­ties for the whole com­pa­ny and how we’re going to be dif­fer­ent in the three years. And then what are the com­pa­ny pri­or­i­ties for the one year, so then we know that the whole team is aligned around what we need to focus on. So real­ly, we’re walk­ing back­wards down that big, hairy auda­cious goal moun­tain going from the 10 to 30 year ago, to the three year we under­stand what hap­pens at the three year and then the one year, and then final­ly, we move on to a 90 day exe­cu­tion plan.

Kevin Lawrence 18:02

Yeah, and before we get down there, the key thing is, is as your review these dif­fer­ent mod­els of your your your B hag, your core ide­olo­gies, things like your fly­wheel, your five forces, your dif­fer­en­ti­a­tion, or your posi­tion­ing in the mar­ket. When you review all of these things, as you’re review­ing them and cal­i­brat­ing them, you start to get clear on what the most impor­tant things you need to do. And that’s this piece that you just talked about. It’s num­ber six, right about the com­pa­ny goals for the three year and the one year is that if you just go pick those goals, you’re going to pick them log­i­cal­ly and lin­ear­ly. But with­out that, when you have that con­text, you think about it notably dif­fer­ent­ly, and gen­er­al­ly, more strate­gi­cal­ly. Because you’re see­ing gaps, ver­sus well, we just need to log­i­cal­ly march ahead, if you don’t do it. And that’s why we got to spend the time on that stuff upfront. And

Brad Giles 18:55

I was speak­ing with a lead­er­ship team only three days ago, about why we set goals start­ing at the end goal and work­ing back­wards rather than us the log­ic as you said, which is start­ing today and think­ing well, know­ing what I know about today, this is where I want to be in 90 days. And then if I exe­cute that this is where I want to be in one year. And then if I exe­cute that this is where I want to be in three to five years. It’s so much more valu­able, start­ing with the end in mind and walk­ing backwards,

Kevin Lawrence 19:28

because you get cre­ative and you end up build­ing big­ger gaps and more ten­sion into the think­ing. And that ten­sion makes you cre­ative and you find ways to move faster or dif­fer­ent­ly that you would­n’t in your log­i­cal March. So yes, the start­ing with the end in mind get­ting real­ly clear, and then let­ting the ten­sion dri­ve cre­ativ­i­ty. So com­pa­ny goals for three years and one year real­ly, real­ly crit­i­cal. And again, when we do a fly wheel review, one of the things we talk about is that you know, every each of your three year goals, it has to helps speed up the fly­wheel. And if it does­n’t, you should be say­ing no to it 92 exe­cu­tion plans is fun. That’s where the rub­ber hits the road, we have a rule of thumb that we use as we can’t leave any quar­ter­ly or annu­al meet­ing with­out those 90 Day plans real­ly clear.

Brad Giles 20:13

Nev­er, nev­er, nev­er, nev­er, nev­er. Oth­er­wise, you could forget

Kevin Lawrence 20:17

every­thing else. And when you’re get­ting start­ed, you have to have them. Because it’s what you use to go and imple­ment and learn it each time you do it. What inter­est­ing things about those 90 Day exe­cu­tion plans is also mak­ing sure that they’re smart goals. And, you know, again, the com­pa­ny I was just with, we have very, very clear out­comes on every goal, we have a sys­tem and it’s built into the com­pa­ny DNA now that you can’t have a goal with­out a clear out­come. That’s hard for peo­ple to do peo­ple who say, Yeah, we’re going to improve the sales process. Okay. To what end? Well, so that it’s bet­ter, we’re going to get a high­er clos­ing rate. Awe­some. What’s your clos­ing rate gonna be? Okay, how much busi­ness? Are you going to close? And get­ting down into tan­to? Okay, we’re gonna sign 14 con­tracts of at least $500,000, each with at least a 35%. Gross Mar­gin. Okay, excel­lent. That’s very dif­fer­ent than improve the sales process. And you know what hap­pened? That’s a whole thing around set­ting these goals. That’s anoth­er top­ic. But the point was, clear, tan­gi­ble goals that pro­duce the out­comes for the busi­ness. Now, ide­al­ly, on these 90 Day plans, there’s two sets, there’s one for the com­pa­ny, and then each exec­u­tive in the room has their own mini plan for them and their team. And for the CEOs in the room. That’s how you can have real clear account­abil­i­ties for your execs. And you can tru­ly see how they’re pro­duc­ing ver­sus expec­ta­tions, ver­sus just what the finan­cial state­ments say or how you feel. How do they get their team to ral­ly and deliv­er those specifics?

Brad Giles 21:50

Yeah, so we’ve done an episode on this episode 71, how to use SMART goals with your team. And you can go back if you so desire. And take a look at that, and see what’s the best prac­tice around those smart goals? And why do they mat­ter? Yep,

Kevin Lawrence 22:05

they sure do. So very good. At the end, we got a 90 day plan for the com­pa­ny. And for each exec­u­tive in the room, if you’re real­ly advanced, those would scale all the way down the busi­ness. But that takes some time to get there. So what to remove that game, we’re talk­ing about the annu­al strate­gic think­ing meet­ing. So we’ll go through real quick one, why it mat­ters, because it clar­i­fies our strat­e­gy, it gets the team aligned and locked and loaded for the next year. Sec­ond one is we do the pre­vi­ous year review so we get the best learn­ing and how we can do bet­ter. By the way, my favorite ques­tion is, okay, great. How would you rate your per­for­mance last year? And what are you going to do to take it up a notch this year, right, con­stant­ly improv­ing our per­for­mance, con­firm the B hag core ide­olo­gies? You might even get into the fly­wheel and oth­er things as well. Num­ber four, strate­gic analy­sis inter­nal and exter­nal, just look­ing at what’s going on and what’s chang­ing. Brad, you want to cov­er the rest there? And then we move

Brad Giles 23:01

on to the dif­fer­en­tia­tors? How will you be dif­fer­ent in the mar­ket, if you’re not dif­fer­ent, you’re becom­ing a com­mod­i­ty. And then once we under­stand how we will be dif­fer­ent tran­si­tion­ing that into the three year com­pa­ny pri­or­i­ties or goals or dif­fer­en­tia­tors and then the one year, so get­ting real clar­i­ty, a deep­er under­stand­ing, and then mov­ing on to the 90 day exe­cu­tion plan. And so that’s com­ing out of a an annu­al strate­gic think­ing meet­ing, the team should be real­ly aligned. And they should under­stand where go where we’re going as a busi­ness. And then as you said, they should be tak­ing that align­ment back to all of their teams. There should be a com­mu­ni­ca­tion piece that hap­pens after that. All right, good chat today, Kevin. Very, very good chat. We’re talk­ing about the episode 90, the annu­al strate­gic think­ing meet­ing. As always, we will move to close let’s just men­tion YouTube. So we have a YouTube chan­nel. You can sit you can watch the videos on there, obvi­ous­ly, or through our pod­cast and each of us have a newslet­ter as well, that you may wish to sub­scribe to We pro­duce week­ly con­tent. So good chat today care. And let’s look for­ward to hav­ing a chat again next week with every­one about the quar­ter­ly exe­cu­tion plan­ning meet­ing. Have your­self a good week.