I Had To Lower My Prices | Survival Mode | THE HANDYMAN BUSINESS |

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  • čas přidán 11. 09. 2024

Komentáře • 182

  • @VincesDIYs
    @VincesDIYs Před rokem +68

    Don’t worry about the video quality. The stash makes up for it.

    • @jdshear01
      @jdshear01 Před rokem +5

      That's probably what screwed up the video quality - too much white balance from that exposed skin that was hiding under the beard!

    • @fiddlefolk
      @fiddlefolk Před rokem

      Porn stache!!!

  • @Columbus1152
    @Columbus1152 Před rokem +12

    My son has been a solo carpentry business since 2020, he's focused on staying a one man operation so he takes a lot of insurance jobs and things like replacing damaged or deteriorating windows and doors. Those are things that are either covered by insurance or need to be done, so hopefully he doesn't get hurt as bad as remodelers and builders.

  • @GOZILLA_VR
    @GOZILLA_VR Před rokem +19

    I think that the larger projects are likely to be cut first, the one's where a customer may take a loan out for it. Small repairs and projects are less likely to go away.

  • @guydesnoyers8417
    @guydesnoyers8417 Před rokem +13

    What in the holy heck happened to that man's beard. I lost Willie Nelson and found Freddy Mercury 😅

  • @declanfarber
    @declanfarber Před rokem +52

    Economists and “business advisers” have predicted 7 of the last 3 recessions.

    • @Dinkslayer681
      @Dinkslayer681 Před rokem +12

      everything is more expensive and wages haven't gone up enough to support it. Don't need to be an economist or business adviser to know that the economy is heading downward. in fact, a commoner could have foreseen this situation 2 years ago when they were handing out free money and shutting the world down...

    • @NunYaaBizz
      @NunYaaBizz Před rokem +2

      @@Dinkslayer681 in canada trudeau was giving out money left and right. even students that lived with their parents got money from the governement

    • @jackburton1467
      @jackburton1467 Před rokem +6

      And they caused all 10 of them

    • @wm1958
      @wm1958 Před rokem

      Inflation was obvious the second the government printed trillions of dollars because of covid they then did this over and over and over again, you haven't even begun to feel the affects of it yet.
      See you are most certainly being pushed into Crisis stages of Aktivnye Meropriyatiya, you don't have to agree with me, you will eventually figure it out when you have no other option.
      A psychological war of subversion with a biological attack to bring it all into Crisis stage of it.
      Yuri Bezmenov was spot on back in the 80's.

    • @jacobwatson3781
      @jacobwatson3781 Před rokem +3

      Wages haven't kept up with inflation since the 70's. Wages low corporate profits high, capitalism baby.

  • @keithstone6856
    @keithstone6856 Před rokem +7

    I come from a long line of handymen. My grandfather started his business in 1929! right at the beginning of the great depression. There wasn't anything he couldn't do or fix. I'm the same way. We will survive because we have trade skills. Everyone is having to make changes these days. Good news is your skills are always marketable and will always be an asset even in a total economic collapse.

  • @roosteroriginal6458
    @roosteroriginal6458 Před rokem +14

    The only way to keep prices up and make a living is to NOT CUT THE PRICES! We need to keep this Industry alive so we continue to thrive ;)

    • @mattschmitt9924
      @mattschmitt9924 Před rokem +2

      Right! The wages, taxes, insurance and materials costs all went up, so my price went up. The other prices have not dropped yet. I'm ok with less work. I budget well enough to have the coffers full. I'm not ok with working for free.

  • @davfinport
    @davfinport Před rokem +8

    This is why you have to have five or ten customers that are movers - customers that are making money - to fall back on. Or to follow up with. A good client base is crucial in LGB times. 😮

  • @harpjason208
    @harpjason208 Před rokem +10

    I hope you are debt free. It really gives you a ton more options.

  • @thatguyjoe007
    @thatguyjoe007 Před rokem +4

    Don't lower your price unless you absolutely have to. Wait and see if people are beginning to hold back on home repairs first.

  • @portlandsean
    @portlandsean Před rokem +6

    Im feeling it too. Work has dropped off. big time.

  • @KingCobra1968
    @KingCobra1968 Před rokem +3

    Good message! Also glad you got rid of the rat nest on your face.

  • @thewhiteknight02
    @thewhiteknight02 Před rokem +2

    Saw this shit coming long ago. No new stuff no new loans. Sold off older and extra equipment over last 16 months to have extra cushion. Our sales are down 100k over previous year but costs are up. Tree removal business.

  • @BA-pg4od
    @BA-pg4od Před rokem +2

    I would become "24 Hour Emergency Handyman." Prices stay the same or higher depending on the job.

  • @michaelungerman
    @michaelungerman Před rokem +3

    Handy, I must say you've really cleaned yourself up for this video. Love the stash!

  • @MrHamsto24
    @MrHamsto24 Před rokem +1

    I knew this was coming around Feb 2022. Left remote work tech to join industrial operations. Just today I saw two excavation contractors advertising with the ol' "park your equipment on the corner with a sharpie sign". Whether it happens or not, play time is over.

  • @landmarkcreations1183
    @landmarkcreations1183 Před rokem +11

    Not lowering prices. Work is still steady thankfully. Recession is a great opportunity for those who run their finances correctly

    • @thearmy88ify
      @thearmy88ify Před rokem

      In 2008 the ones who stubbornly kept prices high at the beginning of the recession were the ones who went out of business permanently (in general). Good luck!

    • @landmarkcreations1183
      @landmarkcreations1183 Před rokem +3

      @@thearmy88ify comparing now to 2008 is apples to oranges. It’s not anywhere close to being the same. We did lower prices back then but not so low we hurt our business. A lot of that also depends on your customer base (commercial/residential).

    • @thearmy88ify
      @thearmy88ify Před rokem +1

      @@landmarkcreations1183 Just about every stat is worse now than in 2007/8. Take a look at housing cost vs income ratios compared to then (many times worse). We are in for a world of hurt. I work for a company that hires thousands of subs throughout the US and OCONUS so I have all of that data from before during and after the 2008 crisis. I saw first hand what happens to stubborn contractors.

    • @mattschmitt9924
      @mattschmitt9924 Před rokem +1

      @@thearmy88ify Housing and income are set numbers for some of us. Does not change because everyone else is freaking out. The cost of running the business has gone up. If things cost more and you charge less, there may not be enough to pay the bills. Stubborn or not, math will always be math and bills must be paid.

    • @probuilder961
      @probuilder961 Před rokem +3

      People with money want a quality, financially stable remodeler, etc. Especially during tough times when everyone with a hammer & saw try to get quality work.

  • @verygoodremodelconstructio5572

    I’ve been tempted over the last couple years to hire 1-2 guys. Glad I held off for the time being. I can feel it coming as well and glad I don’t have the responsibility of others’ livelihoods. Closing rate has been crap for a few months but at the same time….this sets us up for a great comeback when the pendulum swings back again!

    • @thewhiteknight02
      @thewhiteknight02 Před rokem +1

      I think it’s better to work solo in the long run. Literally have to work and stress 2x for almost the same pay and wayyy less freedom.

  • @Billybob-go8hn
    @Billybob-go8hn Před rokem

    As an ohioian we will never go out of work. You need to get signed up with restoration company’s, it’s basically remodeling from a worse state. You get car impacts, commercial/residential water losses, fire losses.. pays extremely well and the work will never stop coming in. If you can remodel a home, you could restore hotels, multi family’s etc.

  • @rogelio7524
    @rogelio7524 Před rokem +5

    I’ve been thinking about this ,thankfully I believe I’ll probably be ok because most of my clients are retired .

  • @rothandre6497
    @rothandre6497 Před rokem +3

    "No more expensive vacations."
    That's usually the number one thing people cut out of their budget, which sucks for me. I'm the facility manager for a couple hotels. The way I get money to keep our properties in top order is high room occupancy.
    These next two to four years are going to be tough for the hospitality industry. As times are still "good" but occupancy is low right now because of the season, I'm working myself and my crew to the ground to get things back to where we can just maintain the grounds with no major renovations scheduled for past April.
    I'll probably be able to keep all my employees through summer, but starting August I'll probably have to let at least one or two go.

    • @JK-Handyman
      @JK-Handyman Před rokem +1

      agreed. My repairs & remodels business is most in vacation rental property on the beach.

    • @rothandre6497
      @rothandre6497 Před rokem +1

      @@JK-Handyman Buckle up, and diversify.

  • @danlah1303
    @danlah1303 Před rokem +3

    In addition to tech layoffs, I suspect a lot of your clients were heavily invested in tech stocks, TSLA, or had crypto gains that have now evaporated.

  • @harpjason208
    @harpjason208 Před rokem +1

    Keeping your schedule full keeps the devil frustrated. ' The devil loves idol hands."

  • @townsendliving9750
    @townsendliving9750 Před rokem +1

    So I wasnt so smart, I spent alot of money growing business over the last two years. Spent alot of money on a new shop and new tools and adding new capabilities to the shop. As of now I am in the peak debt of my life. I'm hoping I can pay for most of it with a good summer of work. But I wont know til april, april to September is where 98% of my income comes from. Most of my income is what I'd luxury purchases. Awnings, decks, patios, landscaping and painting. Let's hope I can atleast match last years numbers.

  • @ralphtorrez9560
    @ralphtorrez9560 Před rokem

    "Youll be the coolest man at home depot!" Killed me😂

  • @droolbunnyxo9565
    @droolbunnyxo9565 Před rokem +2

    Re finances, if you have any bank IRA accounts make sure you're getting the best interest rates. My bank just raised interest rates from 0.02% to 3.0% but I had to be proactive & ask about better rates to get it. A big percentage difference. And I had to lock-in for a 1 year term to have it. (It's just one of a few small local emergency savings accounts & not my main retirement investment source. Which is struggling, smh.)

  • @JayJay-ii5un
    @JayJay-ii5un Před rokem

    Handymaning is recession proff. 40 years experience here. I've never lowered my price

  • @sandybartlett1333
    @sandybartlett1333 Před rokem +2

    28 year remodeled in Atlanta.
    Work has slowed down and prices are dropping on labor.
    I've saved to Weather this next storm cause 08 era sucked.

  • @te1ephraq
    @te1ephraq Před rokem +2

    People can't pay you as usual unless you have the beard back! Moo's are for a medium rate, the beard is the top!

  • @HighRidgeHandyman
    @HighRidgeHandyman Před rokem +1

    Who is this stranger with that mustache on the #1 home improvement channel of all time?!?!?

  • @refinedautodesigns
    @refinedautodesigns Před rokem +2

    Serious stash handyman. I haven't lowered my prices...yet

    • @eberts0604
      @eberts0604 Před rokem +1

      Don't. I think he's way over-reacting.

    • @TheHandymanBusiness
      @TheHandymanBusiness  Před rokem +3

      The law of supply and demand sets the price. I have to have pricing that meets the demand. If I don't adjust I don't work.

  • @mattcasoni
    @mattcasoni Před rokem +3

    We really need the orange man back.

    • @c21meister
      @c21meister Před rokem

      We absolutely do not he’s the sole reason we are where we’re at now

    • @mattcasoni
      @mattcasoni Před rokem +1

      @@c21meister lol.

  • @Bigdogdealings
    @Bigdogdealings Před rokem

    That’s wild my company is increasing the prices by 15% across-the-board… We charge for a 10 foot pipe Sewer replacement outside for 7300 up to 4ft deep

  • @aaronhulst8298
    @aaronhulst8298 Před rokem

    Cool shirt, those RedWings back there?.. Love the videos, just getting started, (licensing processing currently), I appreciate your content. Outside Portland, OR here. Property management companies have been and will be my focus, you channel is perfect for me. Hoping not to have to fall back on union concrete but it’s a good back up plan. Anywho, thanks for what you do man

  • @mr.jitters6531
    @mr.jitters6531 Před rokem +4

    I kept my prices just below "top dollar" in 2021-2022 and didn't take on any new customers. 2023 is going to be crazy again. I couldn't take on new customers if I wanted to.
    The Handyman is always on top of it! Don't work too hard, we need SSTC vids. :-)

  • @lanceladue2818
    @lanceladue2818 Před rokem

    Contractors price gouging for basic construction over the recent times have been screwing friends, family, community.and that is what running the economy prices through the roof...the price gougers are disgusting....

  • @misterj597
    @misterj597 Před rokem

    Crap! I missed a 12 hour live!? That sux. Way to stay prepared for whatever’s coming down the road, Handydude. Always ready for a rainy day, unlike a lot of folks.

  • @sdmfcfh1283
    @sdmfcfh1283 Před rokem +1

    Never go lower

  • @napleshomeimprovementsllc5944

    I’m glad the bubble burst, market needs to come back down.

  • @TheRealGOTdurrrred
    @TheRealGOTdurrrred Před rokem

    Where are you from though? In Boise Idaho every handyman I know can't get more than 2 jobs a week since November.

  • @JonnyDIY
    @JonnyDIY Před rokem +1

    Great! I just maxed out my IRA for the year. Should I pull it out 🤔😥

  • @ryder3098
    @ryder3098 Před rokem +2

    Love the Stash!

  • @rey830
    @rey830 Před rokem +3

    Mustache wax is expensive brother

  • @tecate9408
    @tecate9408 Před rokem +1

    Some money is better than no money. I think I will increase my prices as nothing has gone down. My free time is more valuable. I use it to work on our old little house making upgrades that are not wallet breaking. If people do not value my time, I do not need to be there.

  • @pierrebenitez1877
    @pierrebenitez1877 Před rokem

    I've had to cut my paint prices from $1.8/sqft to $1.1 - 1.2. Basically reducing my total profit by 1500 or so on paint projects

  • @boogiebeareats5
    @boogiebeareats5 Před rokem

    Love the framing bag holder, I’m going to pull my holder out and us it in the same way.

  • @Assertiveman
    @Assertiveman Před rokem

    I respect you

  • @TheFunnyCarpenter
    @TheFunnyCarpenter Před rokem

    Could be an upcoming recession…could be the loss of the beard. We can never know for sure why your demand was going down.

  • @kasumi1245
    @kasumi1245 Před rokem

    Hey, it took me two tries but I eventually got the screwdriver to work 😉

  • @wjthehomebuilder
    @wjthehomebuilder Před rokem

    Yes. I just sold another one of my houses (in my pic) for $45k less than the previous one that sold.

  • @joseescalante9009
    @joseescalante9009 Před rokem

    Holly crap haven't watch you in a bit you shave. Always enjoy your Videos

  • @lobsterstrange
    @lobsterstrange Před rokem

    You're the cleanest handyman I've seen

  • @turboflush
    @turboflush Před rokem

    Is it a recession or start of leveling out.

  • @thaddeuslarimer5703
    @thaddeuslarimer5703 Před rokem +1

    Recession's coming! BUY MY STUFF!!!

  • @JayCo-
    @JayCo- Před rokem

    There's a ton of work in the right places

  • @mikek5016
    @mikek5016 Před rokem

    Lowering prices is never a good idea. Add value that your competitors don't. The stash should be enough. Downturns often mean people don't buy new and instead fix up what they have. Don't panic.

  • @Dubbinalways
    @Dubbinalways Před rokem

    Extremely smart businessman. subscribed

  • @benchippy8039
    @benchippy8039 Před rokem +5

    Where the fuck is luigi?

  • @mussimike
    @mussimike Před rokem +1

    That’s a pretty cool looking stash, where can I get one?

  • @jonathanwoks9505
    @jonathanwoks9505 Před rokem

    I’m thinking you will get more work now that you don’t look homeless anymore lol I’m sorry I couldn’t help it that beard was too much man 😂

  • @ericmorris7874
    @ericmorris7874 Před rokem

    Good plan!! Stay adaptable so what if you have to work a little harder that's life man. Other contractors demand you keep prices higher or drive prices even higher than before. There greed and mismanagement of there business and funds . Will lead them to go out of business or over inflate the construction market.

  • @dcampbell855
    @dcampbell855 Před rokem +2

    Upstate NY here, so hopefully, no worries! Love the 70s porn stash too! 🤣

  • @eberts0604
    @eberts0604 Před rokem +6

    I disagree -- more people are still working from home than ever before. The labor market is still tight in many areas, so -- with the exception of people in boom/bust tech -- people are still employed and their houses are still falling apart. I don't think people should reduce their rates automatically, since underlying inflation continues to rise.

    • @TheHandymanBusiness
      @TheHandymanBusiness  Před rokem

      You must have missed most of the video.

    • @TheHandymanBusiness
      @TheHandymanBusiness  Před rokem +3

      The law of supply and demand sets the price. I have to have pricing that meets the demand. If I don't adjust I don't work. This is the same reason new car prices are going down.

    • @eberts0604
      @eberts0604 Před rokem

      @@TheHandymanBusiness I watched enough of it to hear you say that and to see it in your headline. If that's the case, you should have fined-tuned your lead. It sounds alarmist and, as economists are all saying, people worrying about a recession alone can create a recession. I just don't see it from my business standpoint. Maybe your prices were too high. The subject deserves a bit more nuance than your headline and opening provides.

    • @TheHandymanBusiness
      @TheHandymanBusiness  Před rokem

      @@eberts0604 My prices were through the roof for the last 3 years. Just like cars and homes. I adjust my prices all the time. Sometimes on a monthly basis.

  • @MrCreed145
    @MrCreed145 Před rokem

    I'm in a wealthy county in Florida, its all older people with money. Pretty much doesn't matter what happens, they've already made their money. Dnt think anyone under 40 has ever hired me except one real-estate couple.

  • @jerrysmigiel7998
    @jerrysmigiel7998 Před rokem +1

    You look much better without the beard.

  • @wittelarry1
    @wittelarry1 Před rokem

    I just gave myself a raise this year. I'm still getting the work.

  • @andreakeeling9217
    @andreakeeling9217 Před rokem

    Right on. ❤❤❤

  • @logan.w.97
    @logan.w.97 Před rokem

    Appreciate the upstate ny shoutout 🤙🏼

  • @CreativeBuildsFL-TX
    @CreativeBuildsFL-TX Před rokem

    A fellow contractor made a good point to me about the housing market going down and it makes good sense. He said that the higher quality handyman and contractor will be in higher demand because someone that wants to sell their house needs to make it stand out more in a cold market.

  • @kobelcofan
    @kobelcofan Před rokem +4

    I'm really pissed at our government because of this silly lockdowns in 2020 100% unnecessary. Now we have to work even harder for the same shit we had before.

    • @sparks8218
      @sparks8218 Před rokem

      Tell that to family members of those that died due to covid. Sorry to inconvenience you...

  • @edchaca9080
    @edchaca9080 Před rokem

    Mr Handyman.
    i love your videos and everything that ive learned from it.
    ive ben doing handyman jobs in nyc and now i have moved to Ct and maybe you can give me an advice and the push i need to open an llc home renovation company and how to build up clientele here.
    thank you

  • @Yazevo
    @Yazevo Před rokem

    thats a nice bike stand ;)

  • @chadwickhayes8260
    @chadwickhayes8260 Před rokem +1

    The economy has been spiraling down the toilet for a year

  • @John-oo4ec
    @John-oo4ec Před rokem +1

    Once the stash arrives, the prices arise.

  • @MyDIYAdventures
    @MyDIYAdventures Před rokem

    It’s goooo time!!!!

  • @mplscarsales6652
    @mplscarsales6652 Před rokem

    New here and your right on the money people now are voting with there dollar wherever the dollar goes is where the business will survive , I own and sell used cars trucks I noticed the decline but I always make sure I check everyone’s/competitors prices before I list and make sure I’m the best price to get the business. Customer make you succeed without them we would not be owners . Great job on the talking about the coming recession . Americans saving have been depleted by inflation on gas food Everything

  • @TheRealGOTdurrrred
    @TheRealGOTdurrrred Před rokem

    Wait until tax season when everyone wants a remodel. It is definitely slowing down though

  • @BreakneckTrent
    @BreakneckTrent Před rokem +1

    Cooking up some plans to build a barndominium in rural Iowa.. Still loading up on $TSLA stock for retirement during this recession. 👍

    • @TheHandymanBusiness
      @TheHandymanBusiness  Před rokem +1

      That tesla stock is tempting. I sold at $1,200. Do you think it will ever get that high again?

    • @tightbhole420
      @tightbhole420 Před rokem

      @@TheHandymanBusiness it is interesting that the man in charge has found new things to keep himself busy with

    • @jayrigsby2748
      @jayrigsby2748 Před rokem

      @@TheHandymanBusiness That was an awesome run for TSLA
      I sold a few weeks ago but have been holding it for years
      I may buy back in if it goes sub 100

    • @ironmike7339
      @ironmike7339 Před rokem

      @@jayrigsby2748 they said on Fox Business this week it’s going to $60/ share. But who knows ?

  • @Asomesauc
    @Asomesauc Před rokem

    Where's the Kraken at Handy?

  • @markwallace3181
    @markwallace3181 Před rokem +1

    Ya, your gonna have the next 2 yrs of this country going through financial ruin and supply chain issues….it’s gonna affect everyone, no matter where. Depending on 2024, does that continue or go a different direction.

  • @thebackwoodsmechanic5029

    This economy is destroyer because of these idiot politicians . We need competition, manufacturing & demand to thrive .

  • @mikemazzoli1990
    @mikemazzoli1990 Před rokem

    Hey Handyman what's in them Evolution boxes? Track saw? Tool review?

    • @TheHandymanBusiness
      @TheHandymanBusiness  Před rokem +1

      Free tools lol. They keep sending them to me. They are home owner grade. To sloppy for quality work.

  • @jamescarpentier2553
    @jamescarpentier2553 Před rokem

    A thirty thousand dollar vacation? I know a lot of people who make a lot of money and do not spend thus much on a vacation,certainly they can afford to do this,but they choose to save their salary to have a cushion for anything that may happen ,I don't feel any pity for anyone in as volatile as a business as yours is who chooses to spend the way you do

  • @stoolie10
    @stoolie10 Před rokem

    You aren’t making this stuff up. With Google, Microsoft, & Amazon practically in our backyard we are definitely seeing some layoffs happening here. Things will bounce back, it is just temporary.

  • @gordonmack7766
    @gordonmack7766 Před rokem

    If we were going in to recession they wouldn't be telling you. Think about the last one.. were there news headlines months in advance?

  • @BA-pg4od
    @BA-pg4od Před rokem

    A y=mx+b kinda slope eh?

  • @luisuriostegui6376
    @luisuriostegui6376 Před rokem

    I won’t cut prices till I have to

  • @probuilder961
    @probuilder961 Před rokem

    I see, said the blind man, as he picked up his hammer and saw.

  • @timothymccarty4373
    @timothymccarty4373 Před rokem

    I have been slowed down for the past month I'm thinking it was the holidays I mostly get work from other middle class people so I'm hoping when taxs come back it's going to pick back up

  • @joemiller5023
    @joemiller5023 Před rokem

    A one man company should not have to reduce prices .

  • @brandoncuts82
    @brandoncuts82 Před rokem

    I'm just gonna be real Its because of the borders open is why your end is coming. The demand is still there but the supply now is higher then the demand.

  • @themueth
    @themueth Před rokem +1

    You need to keep the beard

  • @tallswede80
    @tallswede80 Před rokem

    but what makes you think that reducing your prices is going to increase your work? Use reverse psychology, increase your prices.

  • @Ian_L76
    @Ian_L76 Před rokem

    What pants are you rocking handyman? They just stopped making my favorite pants and am looking for a new daily driver brand.

  • @Bababui69
    @Bababui69 Před rokem

    I get calls from contractors that rejected my price a year ago.

  • @Istaly17
    @Istaly17 Před rokem

    Full beard full payment.
    I'm not paying for no 2nd rate stash.

  • @aidonis98
    @aidonis98 Před 10 měsíci

    Well sweet! Move to my area please, everything is still 6 months out. It's ridiculous. If only we had a functioning government that could actually combat this inflation, instead of relying on the fed to take a hammer to the screw that is our economy. And I've been hearing about this recession since the pandemic hit. And yet every quarter, record jobs added...corporate profits at record levels. So until I actually see it, I'll take all those "smart money guys" opinion as just that.

  • @RICHat22
    @RICHat22 Před rokem

    But it can put a Roley on a redneck. Keep doing what you're doing and preaching. It's all gonna work just like you plan for.

  • @user-rovvt3
    @user-rovvt3 Před rokem

    poor You, as livia soprano said.
    gauging people?

  • @MD-eo2wy
    @MD-eo2wy Před rokem +4

    SCAMdemic****

    • @ieatpinecones98
      @ieatpinecones98 Před rokem +1

      Look up “event 201”
      then look up “catastrophic contagion 2025”

    • @MD-eo2wy
      @MD-eo2wy Před rokem +1

      @@ieatpinecones98 yep all right there for anyone to see

    • @ieatpinecones98
      @ieatpinecones98 Před rokem

      @@MD-eo2wy so true