Surviving a 2-Month Revenue Freeze in Year 1

And as drawn out as legalese can be, and I think in my case, there was a little bit of that effect. Start talking about working capital as early as you can and ensure that you have enough working capital to operate the business and be flexible in structuring how working capital is provided. Because there are many ways and help the seller remind them that working capital is necessary and there are…

So what I would have done differently is I would have taken my own advice now and structured work working capital to make sure I had enough to start running the business with.

um it is a it is a an abstract concept and and as and of course also what we constantly hear is that the psychology of sellers is that if that cash is sitting in the bank account they've already earned it it's theirs thank you very much yeah i think i think you said it well it's education and you you have to it's an educative experience that you as as a prudent buyer is also doing so you're not…

You have to get as pedantic as possible and by being a kindergarten teacher and do it over and over and over and over again.

Okay, Chibuna, I'm just watching the clock and there's a lot to say about your past year of being an owner. And so I want to make sure we have time for that. One of the, from the outside looking in, one of the risks of this business or indeed any business that...

that's relying on basically insurance payments, is that payer risk. That there could be a, there's so-called pen stroke risk. There could be a legislation change that affects things.

Or even if it's not related to that, there could, I guess... The insurance provider, private insurance provider, also could represent risk, as people might tell. I'm already kind of over my head on the point.

But the point is, there's concentration in where the revenue comes from in this whole, really, universe of types of businesses. Yours is no exception. We've already heard you say there were...

I guess, two payers. Is that right? The two TPAs. But then you have, I heard you say also there was another layer where you have multiple providers I wasn't following. So anyway, quickly distill that for us or explain that to us.

And then am I right in saying that this business seems to have concentration risk?

Yes. I'll start backwards. Concentration risk in terms of... Concentration risk is tied to...