The Home Service Expert Podcast - Q&A with Tommy - Investing in People and Technology To Scale Your Home Service Business
Episode Date: July 16, 2021Tommy Mello is the author of Home Service Millionaire and the founder of A1 Garage Doors, a $40 million-plus home service business with over 200 employees in 9 states. Through HomeServiceMillionaire.c...om and the Home Service Expert podcast, Tommy shares his learnings and insights to help fellow entrepreneurs scale their businesses. In this special episode of the Home Service Millionaire podcast, Tommy answered some of our listeners’ most pressing questions about recruitment, business expansion, customer relationships, acquisition, marketing, and more...
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I try to do as much performance pay. I don't care if a guy makes $12 an hour. If you make $12 an
hour for me, minimum wage, there's real issues there. And I don't want you to work here.
But what I find is most owners say, well, I can't charge those prices that you charge.
How do you sleep at night? And what I find is they're always running this hamster wheel
of losing people all the time. They can't afford insurance. They can't afford a nice building.
They can't drive new vehicles. And it literally is the biggest hamster wheel you'll ever see.
It's amazing to think about that some of these companies, they're running so slim and they don't
have hardly any admin. They're still taking phone calls. They're still running jobs. And they think
the answer is to be cheaper. It's pay your people less,
but charge your customers less. See, I think what's happening with all these price increases
and this labor shortage is people are going, holy crap, I'm going to have to start charging
more money. I'm going to actually have to learn how to sell stuff to clients. And that means not
being the cheapest. Welcome to the Home Service Expert, where each week, Tommy chats with world-class entrepreneurs
and experts in various fields like marketing, sales, hiring, and leadership to find out
what's really behind their success in business.
Now, your host, the home service millionaire, Tommy Mello. millionaire tommy mellow all right guys this is the q a podcast for june 2021 lots of good stuff
coming to you feel free to ask questions i am going to rock this out today but i'm going to
go through these so few reminders if you uh haven't read the book home service millionaire
try to get it on audible or homeservicemillionaire.com forward slash podcast.
The HSM, Home Service Millionaire course that I put out is course.homeservicemillionaire.com.
And if you haven't joined the free Facebook group yet, go to Facebook and look for the
Home Service Expert group.
Really starting to build a lot of people to start getting a lot more content into there.
So let's just go on to what's new in my world for a quick minute. I formed a board of directors
about, well, they're actually, I got about six of my friends together. And basically,
we've just been talking about a lot of different things. And basically
what we're working on is trying to figure out the best way to build this company to, so that you
could sell it one day. And one of the things I realized is we got to strengthen up the finances
and I'm not going to go into too much detail, but really the top end of the finance, the top end of every department is a huge deal.
So something you guys want to think about for sure is, you know, I got my buddy Tom Howard.
He's kind of helping me out just trying to understand the finances.
I think that's the biggest spot where homeowners fail is financing.
What else is going on?
You know, we're hiring.
We've got 19 guys here training.
They made a roadmap for A1 resources. This is just a test, but at least it did a great job with
Travis. Follow the road of success with A1. Lots of cool stuff in here about autographing.
I'm just thinking about a ton of things, guys, right now. So a million things on my mind. We
just bought a house in Paradise Valley, and it looks like I'm going to have to remodel the whole thing. I had the designer come in and
she said, I think this looks like a complete remodel. So just walked the dog a little bit
ago or I was playing with the dog. I should say it's too hot to walk him. It's 118 degrees,
but he went outside. So let's just jump right into the questions. I think that's the way I
want to start it right now. You talk a lot about A players, sometimes stealing A players.
A players are usually working and not actively looking for a job on job boards.
How do you get in front of them to start your recruiting process, social meetups, something else?
Great question. Joy, let's talk about that. There's a thing called geofencing. Geofencing
is when you build an
invisible perimeter to do retargeting and pixeling so you could actually serve up ads
for your competitors so you can build around this like any one of my competitors can do it around
my building you could also do it at the manufacturers so it's called geo fencing
it's a great way to get in front of them you want to get in front of them with a bonus
you want to have them jump ship you want to have an open house to have them
do ride-alongs and learn about your company. A very discreet open house. You got to plan that
out. There's got to be able to do ride-alongs, talk to the peers that they're going to be
working with. I think it's so important to be able to have the ability to work with
their peers and ask them questions. And so part of the reason is
why would they jump ship and work for you? I think that's super important is to understand
why somebody would come work for you. So great one is a sign-on bonus, insurance, PTO, a new truck.
But a lot of people feel more about that life work balance, the personal and work balance.
So we're really trying to figure out things that we
could do in the company to give people more of that. So other than geofencing, the next thing
you could do is you could actually, if you go on Facebook, you search for a company, you get a list
of every single competitor. It'll actually tell you who works there on Facebook. A lot of them
belong there and say they're an employee there. Same thing as LinkedIn. LinkedIn is a great place, great resource. If you get their names,
this sounds crazy. And I don't know if I'd go this far, but I've seen people that do it.
They go, a lot of people, competition will put the first and last name of the people on their
website. I don't do that because I don't want people poaching my guys. But another thing you could do is get to your, and it's called skip tracing. If you skip trace their
name, you could actually figure out where they live and send them a letter. Another great resource
you could do is get with your manufacturers and see if you can put something in there. It's really
tough. Most of the time they won't let you do it. But if you can get a hiring sign, make sure it
looks good. Make sure you've got the reasons why someone would work there. I think that that's the biggest key
is right now people have a lot of choices with unemployment rates being, they're coming down,
but no one's coming back to work. I think you guys know that it's tough right now to hire because
people are getting incentivized to stay home. So social media works really, really, really well.
You can find their interests.
So if garage doors are an interest,
then you could go after them on Facebook.
Another great thing you can do is,
like I said, hang out a little bit.
We actually just moved our Vegas shop
right next to the biggest distribution center.
I mean, every time you go pick up a door from them, you got to see A1.
And they trickle in and then you have free coffee, free bagels in the morning.
You know, you'd be surprised.
I wouldn't go as far to poach poach.
I mean, you're not going to park in your competitor's parking lot, but there are some things you could do that way.
You know, I've seen, this is really shady, don't do this, but I've seen people call for service calls of other companies and offer the guys jobs.
Not really into that one.
But yeah, you're right.
You want to steal guys.
But here's the number one thing I can tell you.
Number one by far, create an environment that everyone knows that A1 is awesome or your company's awesome.
I think it's hard to do that because not everybody's going to be happy. But think about
this. It's 118 degrees outside. So I guarantee you, I got guys that aren't happy. But overall,
how do you create morale? I think really figuring out ways to do things outside of work.
I want to do more of them. I want to have parties at the pool, stuff like that. Anything you can do
to get everybody together, that's a fun thing, but you got to keep it kind of PG. I don't recommend
a ton of alcohol because that's when drama happens. But there's a few ways to do that.
I think that'll help you
out quite a bit. Let's look at this question here from LJ Lindsey. Do you have to deal with
non-competes when recruiting talent from competitors or is that something relative
in home service industries? So there are non-competes. They're very, very hard to
get them to stick. A good non-compete that sticks is when
I buy out a company. That owner is not able to work anymore. He signs a non-compete for three
to five years. But the non-competes with the technicians are really hard unless you give them
the tools and the truck and you teach them from scratch. It's hard to enforce in most states.
Most judges, if it's their livelihood, they're able to go to another company. And here's the
thing. You can't squeeze blood out of a turnip and something like that. They say, meaning that
if you sue them, are you really going to win? Is it really worth it? I recommend creating an
opportunity where it's really, really hard to leave. And the more I look out there right now in
my industry, people are offering sign-on bonuses, but they're not offering really great money.
I think one of the biggest problems I see, and you guys might enjoy this conversation,
is a lot of business owners, quite frankly, pay their people like shit. They literally pay their
people $15 an hour consistently across the board.
Skilled technicians, I've seen 20, 25. That's barely $1,000 with inflation. It's hard. I try
to do as much performance pay. I don't care if a guy makes $12 an hour. If you make $12 an hour
for me minimum wage, there's real issues there and I don't want you to work here.
But what I find is most owners say, well, I can't charge those prices that you charge.
How do you sleep at night?
And what I find is they're always running this hamster wheel of losing people all the time.
They can't afford insurance.
They can't afford a nice building.
They can't drive new vehicles.
And it literally is the biggest hamster wheel you'll ever see.
It's amazing to think about that some of
these companies, they're running so slim and they don't have hardly any admin. They're still taking
phone calls. They're still running jobs. And they think the answer is to be cheaper. It's pay your
people less, but charge your customers less. See, I think what's happening with all these price
increases and this labor shortage is people are going, holy crap, I'm going to have to start charging more
money. I'm going to actually have to learn how to sell stuff to clients. And that means not being
the cheapest. I love how guys on these boards, these Facebook boards, they go on and on about,
you guys are a rip off. The customer only needed this or that. Let me just tell you what the
customer needs, whatever the hell they want. The customer gets what they want. You don't decide.
I'm so done with guys on Facebook going, the customer didn't need that. The customer doesn't
need a house. They don't need a new car. They don't need an opener. The customer doesn't need
anything. They get what they want. They tell you what you want. Now, if it were my house,
I'm going to get an insulated garage door. I'm not going to fix a piece of shit, non-insulated door. I'm just, I go off on here
because you've got all these workers and most of them are workers. Even the owners are workers.
They're still in the field. And then they wonder, they go, we're always busy. I'm like, of course
you are because you're running all the jobs and you're cheap and you can't afford to hire an
employee. You can't afford to work with this comp. You're always busy. I would be busy too. I know what that's like, but you don't have
a fricking company. You don't own a company. You own a job. So don't brag about being cheap.
Everybody out there, do me a favor. Remember, there's three things. You can be fast on the
customer's timeline. You could be really great quality. You could have trademarks on your
quality. You could have the best schooling, the best tools, the best trucks to get there when they want and do a
quality job that's going to last a long time. And then you can be cheap. You can pick two out of
the three. You can't be all three. You can't be the best price on their timeline perfectly and put
the best quality parts. Impossible to do all three. That's so, so important. You can't do
all three. Think about that mechanic. Man, that mechanic, such a good mechanic. He gives us such
a good deal. What do you think about that mechanic? I have one in Milwaukee. He's four
months out. People are waiting forever and ever to get him to do the work. If he raises his prices
a ton, he could double his
prices. Yeah, he's going to lose some business, but he's going to do half the work for more than
double the amount of money. And he's going to be able to spend time with his family
because he does a quality job. Every time I go for a price, every time I buy a price,
I've been burned. I can't tell you guys enough how many times I've gone the best price and it never, ever does well.
What is a workaround on workers comp? Cody, let's go ahead and talk about workman's comp.
There's what's called an EMOD score. And what you want to do on workman's comp,
here's my best advice. Here's my workaround. you get a manual and you get a really nice manual
put together and every single employee has a standard operating procedure that happens
when they are injured let's say you're a grinder this is a common one they're grinding and a spec
goes in their eye what you want to find out is if they could go to the urgent care and you could pay for that bill.
So our workman's comp works with us really, really hard to pay for anything under $1,000.
Because it doesn't hit workman's comp.
Now, there's certain rules and regulations we don't want to go against.
Minor injuries, heat exhaustion, stuff like that, you can't pay for a major surgery outside of workman's comp.
You've got to create a safe environment.
You've got to do driver safety trainings.
You got to, we give guys, now we pay for their gloves and they got a little clip that goes
onto them.
Two things, workman's comp, three things, but two big ones.
The big ones is your eyes and your fingers.
You get guys to wear gloves.
You train them, you train them, you train them, you train them to wear gloves.
You show them the nasty pictures.
Eyes are just, it's pretty simple. simple just wear it you look good doing it the customer seat thinks you're
official but realistically i mean guys could lose their eyesight i've seen it too many times you
never think it's going to happen to you and then your feet i recommend getting some type of strong
steel-toed boots something that's going to protect your feet you do those three things
and you wear pants most of the time which is hard to do in 118 degrees that's what i would do well another thing you could do with workman's
comp uh sometimes they'll put you into like uh what is it called adp is one of the payroll
companies that some of these bigger companies will let you rent your employees from you
so they'll actually rent them back to you and then they'll they're able to get workman's company cheaper because they buy it in a group so there's another way but workman's comp it's
important that you're teaching safety it's important so we put a gym in the the office
that helps things like that every time the cameras in the vehicles help the fact that you're watching
that stuff makes a big difference see we've got this thing called Lytics.
It's a dual camera.
You can hear everything.
That costs money.
It's so funny.
People go, what are you, the prices you charge?
They ask me, let me just tell you this.
If I fix your garage door, it's fixed forever.
That's not every two years I'm coming out there.
But they don't understand the small businesses, how much it costs to have software that runs in the vans.
They have all these different software.
We got a new recruiting software my buddy Jody's helping us with.
Lots and lots and lots of different softwares, probably 20.
We just signed on to this other software, 18 grand a year to organize all of our media.
That's just videos, pictures, because we're in a lot of states.
You might say, holy crap, that's ridiculous.
You know, we're in 17 states, so you do the math. You're going to have to pay for things you didn't know.
And I'll tell you this, you got to build a good, good team, especially at the top.
You got to have a team that's going to do everything and go through. And my biggest
thing that I want to get back to is I'm obsessed with marketing and sales. I think you'll see when the company is growing the furthest and fastest, I'm doing marketing and sales. I've got a lot of ideas
and some of them aren't good, believe it or not. Some of my ideas, the effort is not worth the
energy and it takes me some time to realize that. But most of my ideas as a visionary,
if they're implemented and integrated properly, they do
well. Let me read another question here. Layman Bowling. One thing I would like to do
is quicken the payroll every pay period. I've heard you say that you guys will get all your
payroll done within an hour or two each pay period. So what can I do to improve the process
of my business to make it quicker for us and our employees? So I've got several guys here that are absolute phenomenal at Excel.
They can run circles around me. They can build pivot tables. They understand what I would try
to do is build a payroll system, a bonus system that is an algorithm that you could run everything
in through your CRM and automatically quantify
everything. Then you need what's called a data accuracy team. They're going to check to make
sure the stickers were done, the pre-pictures were done, there was a measurement proper.
I think you should always have a data accuracy team. So I write down on a whiteboard how I'm
going to get the payroll bonus structure aligned perfectly.
And then I use software to do the majority of it and just make sure there's eyeballs verifying.
And then what Adam does is he looks for outliers.
He knows exactly where to look at where the guys will try to cheat the system.
So software is designed.
If you listen to Ara, we did a podcast years ago, and he said,
I just wish when people, we get 20 to 30 people
in a room and we want to come out with a new feature. These guys are all a hundred million
dollar plus producers, right? We come up with ways to do things that fits the masses. It's
the best practices. And then you get this one-off company that says we do it different. And of
course we all do it different, but they say, you know, we give a guy five bucks. If he gets a
Google review, 10 bucks for Yelp. We give a guy, if he drives, he gets a google review 10 bucks for yelp we give a guy if he drives he gets a nickel
perfect driving score that day and then if he's able to get a video testimonial and a yard sign
and then you know our stuff is not the easiest but it's easy to quantify because of our data
accuracy team it's just when you gotta have eyeballs is when it's not duplicatable so i
would redo the system in a way that you could have a data accuracy team
because that's my biggest problem,
I think, with the history of the company
that I realized that every decision I make
is off the bank account.
What's in there?
What are our accounts receivable?
What are our financials?
What are our KPIs?
And if they're not accurate, you're screwed.
You know, when you get comfortable
living in
your accounting software, and I mean truly comfortable, you're going to start asking
questions like, what are these expenses? How much am I spending on entertainment?
Where can I save money? If you get a chance, read the book by Michael Michalowicz called Profit
First. Megan Lykes is a big fan of that. she's absolutely phenomenal when it comes to getting your books together Vincent Johnson how do you handle a
customer with buyers remorse we saw the customer set a high cycle springs and a
set of nylon rollers the total price was 555 we gave him options and he chose the
better Springs after he finished he went to Amazon and said the spring should
only cost $50 this is the first time in 34 years of business that this has happened he claimed that another
company offered him a better quote i gave him a hundred dollar rebate and told him that these
springs special are special cut they're not a stock item how should you suggest i handle this
well one of the things i tell all my employees when they're out in the garage. And this is so important. You got to brag about
the company. They got to know that A1 is the best and the only solution. How do you do that?
We talk about our trademark on MaxLife that we do custom high cycle. The average industry cycle
is 10,000. We do 80,000. What does that mean? If you pay $300 for a 10,000 cycle, theoretically,
you should be paying 2,400 for an 80,000 cycle. We make sure they understand. So we build rapport
with them. Then we educate them. And then we talk about, hey, look, you show up in this new van.
It's a clean van. We show them the van, the mission, vision, core values. We explain to them
the really vigorous process we go through of training. Now, you know, my answer to
that is simple. Typically, when somebody says that, I say, well, what do you do for a living,
sir? And no matter what they do, I don't care what it is. If they say they're a teacher,
how would you like it? You know, a lot of people have tenure now, they're professors,
sometimes they make six figures, and then they make a lot of money that they get to their research.
But how would you like it if it was just the cheapest? But what I love to tell you, sir, is we're going to be around for a long time. So here's one thing too, is your core
message, your advertising message needs to be known as the best, the most expensive. The best
is usually the most pricey. Look, Anderson's Renewal, for example, I watched a commercial
from them earlier. Guess what? They're like three times any other glass company, but they custom make them to fit the size opening.
They've got quick release brackets.
They do a really good job.
I mean, they're known.
People pay triple the price of an average window company.
Think about this.
Do you ever take your car to the dealer or do you go to the shop on the block that they can barely speak English?
The thing is, you know you're going to pay more at the dealership. You know, if you go to Amco
transmissions, you're paying more for your transmission. The fact is people love a warranty.
They love that you're going to be in business. Now, I think the problem with that person is,
of course, I can go to the grocery store and buy some cheese and some flour and make a pizza for
about a buck, literally under a buck to make a pizza. But when you go to Pizza Hut or Hungry
Howie's or wherever you go for pizza, you're going to pay $20 for that large pizza. But you wanted
it delivered. You wanted me to show up to your house, use my tools, our insurance,
our gas. You know what? I've got a great video that kind of explains this, but you've got a
marketing team. You've got an accounting team. You've got a special unit team to do the installs.
I mean, what I try to do is say, I just wish we functioned at more than 15%.
You want us to make 15%, right? So we stay in business so we can honor your warranty.
Unfortunately, after we pay for everything, 15%, we got to have air conditioning in the
building, right?
It's 120 degrees outside.
So I think you don't want to get defensive.
You got to let him vent.
And you got to say, sir, we did the work.
Of course, you're not going to get the same price on Amazon.
No one's getting the same price.
You can buy the drywall.
Somebody's got to install it.
Someone's got to show up, diagnose it, figure out what's wrong.
Make sure it's going to work great with your opener.
Make sure the door is balanced.
There's an old story.
It's about this flooring company.
There was a million flooring companies.
This guy had this bad, bad, bad, bad noise in his floor.
It was a squeaky floor, and it made a few different squeaks.
And the guy called out 20 companies and no one could figure it out. And then all of a sudden,
this old man who's been doing it forever, this guy has just a long time and doing it a long,
long, long time. He goes in and the guy shows him everything where it's creaking. The guy grabs
his drill, three screws and and a bottle of glue.
After five minutes, hits the screws in the right spots, puts the glue down in the right area.
The squeaks are done.
He goes, that'll be $1,000.
The owner said, what do you mean $1,000?
You were here for five minutes.
He said, you're not paying for the five minutes.
You're paying for the 20 years that it took me to get educated on where to put those screws and glue in the right spot. So, you know, customers and clients need
to realize that. If you see the bills from my lawyers, you would understand that they spent
a long time getting educated so they could do what they do. You know, the grocery store,
the price are going up. Wood's at $50 now. I mean, look, it's just, it's crazy right now. There's a spring shortage.
So let's see here. Dennis Lopicolo, which is better use of advertising dollars,
Google ads or Google LSA? Should we run both or should we cut back on one or the other?
LSA ads are cheaper. LSA ads include the reviews. LSA ads are better, in my opinion, for the bang for the buck. They're newer. They make more sense right now. Max out your LSA ads before you're
running PPC. Most of the time, you can't get enough volume with both without PPC.
One thing you never want to turn off if you spend money on marketing and really branding is you
always, always got to buy your own keywords on pay-per-click because I
could run an ad on pay-per-click that sounds similar to a competitor and you might think it's
them and they're getting your business for all your branding. So always pay for your own keywords
on pay-per-click and go LSA ads, but also make sure that your GMB is set up. Make sure you got it 100% open hours.
Make sure you're asking customers for good reviews. Make sure you're putting content in
there every day on your Google page. Make sure that you get all your citation sites done,
especially Yelp. Make sure if there's areas you could add a video, add a video.
There's a thing called Local Viking. I recommend it. It shows you where you rank based
on your GMB. I love the GMB because Google doesn't charge for that, but they can take it down at any
time. So what we did with our GMBs is we actually got real GMBs and we got all the bills in a
folder. Every single bill gets put in a folder for that one. We've got videos that we go around.
We literally have three different bills we've got everything there and the
whole point of that is because google can turn it off they've done it stupid shit happens they
turn stuff off when they feel like it and then we got to re-verify but all the reviews come back
i recommend being super organized about your gmb one of the other things that i recommend that
actually makes a lot of money is search for,
there's a lot of doors and openers out there and brands that have gone out of business and
companies that have gone out of business. I recommend finding those out because there's
stickers still there and there's stickers on the door and there's manufacturer's names on them and
try to do your PPC campaign for those because there's little to no competitors.
They're cheaper and it won't make you a ton of phone calls. You'll get a couple a week,
but if you do it with 10 different manufacturers, that's 20 calls a week
and you're paying a tenth of the price. Jose Gamez. I would love for him to elaborate on
the conversation we had with Brian Lucia about writing his 15 word paper and
turning that into social media content. How many posts would he get out of that? How many of those
15 reports would he make a year? What would be the breakdown of videos, articles, coupons that
would generate out of the bundle? So what we're really trying to do is come up with content
that either gets a ton of eyeballs and links built into it or that's already searched all over the Internet.
Like the biggest things you want to go after when you search for something.
And there's a bunch of questions right there.
There are FAQ questions on Google.
Some of them you can find on Angela's list or a home advisor.
I recommend getting your website to a ranks like mine.
Ahrefs.com does a backlink checker.
And then I can literally find the best articles that people are asking the most questions and rewrite them and make them badass.
Make sure there's pictures, videos, infographics, tons of different people editing.
I'm talking about pros that are actually commenting on there.
And then some other Q&As
underneath it. And then that article will immediately pop up to the top. Now, here's
the greatest thing is there's no PPC, there's no LSA, there's no GMB. They're strictly organic.
So figure out the articles that rank that you don't see all the GMB stuff coming up.
They're more information driven. But if you can get an extra couple thousand visitors a day that are curious
about information guess what a lot of those turn into customers especially when you got a big
imprint so organic is not a great game if you're only in one city you can still make some good
money so what i do is they ask you answer marcus shared and wrote an amazing book it's pretty easy
right you get a virtual assistant or
someone that's great at your office. They do a lot of research on a topic that you, you personally
want to make a couple of hundred articles, get the titles. There's SEM Rush, there's Moz, there's all
these different tools that basically tell you what articles, what keywords. You got to do your
research on what articles. Then you have somebody go through a spend an hour figuring stuff out learning about data finding the faqs then you just study that stuff
for about 20 minutes and you make an interesting story it might remind you of something when you
were in the garage i don't know but what you want to do is have a compelling interview where you're
actually on a zoom call or in front of a truck or a spring or whatever you
want to be in. And you want to do a long conversation about it where you're going
through asking questions, diving deeper into questions, then all that gets transposed.
We've got a tool that simply makes everything we do right now, this stuff right now is going
to be transposed and written in an essay form or MLA format. And then what's going to happen is we're going to add this video to it.
And then they're going to add some pictures and maybe another couple of questions and answer them
for them and just make sure everything's edited properly. It's a great fast way to accomplish a
lot of content. How many of those posts would he get out of it? So there's a thing called
repurposing content. You know, we chose to get this really
advanced thing that transposes and syndicates and finds everything and literally has 20 different,
you can search for it with synonyms and it just goes into it and pulls up everything that says
torsion springs or whatever, all in our content portal. And we can repurpose it. We can edit it
all day. We can combine videos videos and what we're trying to do
is be number one on every single thing national company pinterest instagram facebook twitter
youtube i think we're doing probably gonna do some stuff with snapchat we're gonna do some
stuff with house we're gonna do some stuff with tikt. We're going to do some stuff with TikTok. I want to be everywhere.
I want to have cool, fast videos that show doors getting uninstalled and installed and the sun coming up.
We've got these things we're getting for all the guys.
It's a three-legged thing.
It flies out.
You just pull these out and you can put your phone on there.
Then you can have the whole thing recorded with your iPhone.
Then I'll pay them to turn it in.
You edit it all up. Content, content, content, content. And then what I'm going to do
is end up having a content contest with my employees and get them to do testimonials.
I mean, I want a thousand testimonials a year. I'm talking every single year, new great things.
I'm going to be interviewing the top designers in the country.
I'm going to get the best woodworker to help me build a door.
He'll help me pick the supplies and I'll make it a signature series.
These are the kind of things that's innovative that no one else is thinking about.
But it's great reading.
It's great to learn about.
People enjoy it.
And that builds your website as the strongest authority site. I'm also building a simulator.
And I'm going to give the simulator to every single custom builder every realtor every inspector
the simulator is gonna come that it's when they click on my page they're gonna
put it on their site and it's gonna click into their page on my site it's a
widget so that's gonna give me a hundred thousand links it's almost done it's
gonna be took me a while to figure it out,
but it's going to be the baddest ass thing that's ever been done
for as far as making a website rank.
It's going to jump up to Home Depot's rankings.
What are the next two Audible books you should download?
That's a great question.
And I've got some good ones right now.
Barbarians at the Door.
I heard is a really, really good book.
I haven't got to it yet.
I'm reading right now The Closer Survival Guide by Grant Cardone.
A good book that I've read a dozen times that I downloaded again is called Brain Fluence,
100 Ways to Persuade and Convince Consumers with Neuromarketing.
He talks about simple things like people love babies.
So putting a baby in the
ad, I don't know why it works, but it works. Lots of cool stuff with that. I got another book on
storytelling. There's so many books. This is a book my buddy just bought for me called Hard Knocks
by Michael Derryberry. But this book, I just bought five of them, sent it out to my buddies. It's called
The Coaching Effect. If you haven't read that, The Coaching Effect was a game changer for me.
So that's what I recommend. So there's a Marcus Sheridan podcast was great.
Someone just commented on that. Great information. You're a great marketer. Thank you.
Let's listen to Jeremy Beatty. I think it's B-A-T-E-Y.
At what point do you recommend a startup invest into an actual brick and mortar building versus
trying to work out of your garage or home? Oh, that's a great question. I think with nowadays,
you know, number one, depending on your family life, it's good to just have a place to go to work.
It's good to just be able to just sit in front of a computer and just not have any interruptions
if you're a small company where you might not have the kids or the wife or the husband, whatever.
I love having a place to work. It could be small. It could be really small. And it's nice to have a
place to have a real Google My Business place. It's building the company on a solid foundation. I do believe
that once you cross a million dollars, you absolutely should have one. You should have
a showroom. You should have a place that's great to have customers and invite them in.
Have them come over a cup of coffee. Say, listen, I want to show you a couple of houses that I've
done. I've got a little, some screens that I'm going to show you some stuff come on in it's not a big office we're proud of it though and keep it immaculate and just
the fact is if i it's just not a real business unless it has a brick and mortar i don't think
you need to buy the building i recommend trying to get the money to buy the building within the
second year because you'll make a lot of money on that i learned that lesson does the physical
location of the building matter so much as it's in the service area example a nice size building
with space parking warehouse but it's on a street with essentially no traffic here's what i would
tell you about your building i'd worry more about getting it into the right neighborhood because of
the gmb i don't necessarily care i've got a lot of frontage there's thousands probably
tens of thousands of cars that go by but for what i go for in a lot of new markets i don't get a lot
of traffic i just get it in a commercial area i'm not looking for anything great i'm looking for
something that's in a great area that around there are the houses that i want to service
picking a physical location,
just make sure you're picking in the most affluent area where you're going to get the most amount of business. So to do that, you want to look at local Viking, number one. Number two,
you want to look for that city, garage door repair or whatever it is and put that city in.
And if you've got tons and tons of competition,
a little cheat is find a city
that might be number three or four,
what you were thinking,
where there's only one company.
It might be a great city
that has hardly any commercial area.
It's almost all residential,
but you can find the one nook and cranny commercial spot
because there's no other GMBs there.
So you're going to rank for the entire city,
number one, automatically. And then as you get reviews there and your yelp pops up and everything else
you're killing it so that's a little hack that i use um telling you guys all my secrets man
dennis lopicolo another question how does a one truck business owner know when it's time to add
another truck in general what criteria needs to be tracked to be certain the business will support expansion?
This is a tough one.
This is really, really, really tough, Dennis.
I tell you what, getting out of the truck is the hardest thing you're ever going to do.
You got to find guys that know how to generate revenue.
And you got to have a constant flow of jobs.
You can't take the vacations you used to take. You can't just disappear for weeks at a time.
You're putting in sweat equity. The business is small. I'm just telling you it's front loaded,
but the end result is it's amazing. So you got to think about creating a cool spot,
getting to know them really, really well,
making sure they could outperform you, meaning they better know how to sell. They better know
everything. You do not want an apprentice turning into your first tech that doesn't know anything
because you're going to go out there and have to fix their crap all the time.
And then you're going to say, what was the use of this? I'm paying this guy 20 bucks an hour or
whatever. I pay him 800 bucks. I might as well just do it myself. And then you get impatient and then you go right back to the
beginning. Right. And the hardest part to understand this is you want to pay this person
more. You want to find the top freaking hire that any business like me, 50 million, a hundred
million. You want to find somebody that I would hire, but better because this is your first hire.
This is the everything. What I would say is work your butt off. Make sure you got great marketing.
Make sure you got great presence. Make sure that your brand is recognized.
First and foremost, build up your online reviews, get it all cohesive. That's what I'd say first. And then I turn on
a couple of mailers, small mailers, try to be in a smaller area. You don't want to waste.
When you got one or two employees, you want to think about density. You want to focus on a small
market and you want very little windshield time. You want to own that clientele. You want to hit
them all the time. What they say with realtors is pick a freaking suburb, pick a little community and hit that 20 times a year versus hitting everybody else twice
a year. So you want to own the small area that's got the perfect customer. And you might think the
customers, the perfect customers are the rich ones. No, no, no, no, no, no, no, no, no. Please
understand the rich customers. They have property managers
that handle everything for them. You do not want the rich customers until you get big enough
that you get them ancillary. You charge good money for them, but you want the dual income,
$120,000 HOA household that they can spend good money, but you're not going to break the bank.
They don't have a variable speed HVAC units. They'll spend the
money. They've got a family. They've got a three bedroom, two bath, and you want to own that
neighborhood. You want to own that city. And that's the best thing I would advise. I think a
lot of people go out and they say, I'm just going to try some radio. I'm going to do a little bit
of Alpac, do a little bit of TV. I'll do a billboard. And then here's the death trap is
when they go, their buddy calls over there. Oh, cool. Everybody's seeing my billboard and then here's the death trap is when they go their buddy calls over there oh cool
everybody's seeing my billboard so now it's like this fame thing like oh my god you made it who
would have thought out of high school i see your billboard and then you get contagious the shit
that doesn't work you're like you love it you're like oh my god i finally made it everybody
recognizes me who cares i mean, make a ton of money.
I mean, that's what you want to do.
Invest it, and then you can have fun with your high school buddies.
You know, I just think it's really, really, really important to figure out how to be good in a dense market,
how to get the right branding, how to get referral business, how to get testimonials,
how to use organic growth with a combination of grassroots guerrilla marketing. And that's take time with clients
and make sure they're leaving you a Facebook, a Nextdoor, a Google, a Yelp, a YardSign. They're
giving you their HOA manager and you're setting an appointment. That's what you should be doing.
You should be monitoring that, not getting dirty in the truck anymore, building the business,
then it's so hard because you don't want to pay the money. So you got to raise your prices,
get a couple hundred thousand dollar nest egg, and then make sure you got a guy that's producing
a ton of money for you. So when you get out of the business, you're going, holy crap,
this guy's a lion. He's got a great conversion rate, great average ticket. Customers love him.
He drives great. Don't go cheap on your first employee. That sets the precedent for everything.
Pretty passionate about that. Joy Harris, I love your hub and spoke model for acquiring
companies. Can you elaborate? How do you determine or get suppliers to tell you
who has a good customer base? What scorecard do you use? Well, there's a thing called a
diligence period, a quality of earnings. So
you're going to be able to see the customer base. Really, you should be able to get from their CRM.
If you go in, you offer them money. You're going to have to look at everything. I mean,
a lot of times people do background checks to all. They do research to see, does anybody have
any other LLCs in their name? They look at everything.
They'll go look at all your managers. They'll make sure there's no side business going on.
Look, the quality of earnings, the bill, the diligence period, you're going to be able to
see how many calls they have a day, what their average tickets are, how long their employees
have worked there. You can do background checks to their employees. This is a lot of stuff that
you need to understand when you go to sell your business. You know, a lot of people try to sell their business and they didn't plan on any of this
stuff.
So they're going to get way less money than they should be getting because they didn't
prepare for what's expected of them in the business.
So what I can tell you guys is learn what they ask for when you sell your business.
Listen, there will be a time that I bring on an equity partner and I'm going to freaking
find out who it's going to be in the next year. I'm going to spend two
years kicking ass and I'm going to go like this with a bow. Boom. Here's everything you need.
And they're going to wire me a big ass check. And then I'm still going to own half the company,
but they're going to be able to go out. So I don't have to take on a ton of debt. I'm talking
about hundreds of millions. I have a high risk tolerance, but the next level after that will be a SPAC. It's a special purpose IPO. And you want to have people that are
experienced to help you do something like that. So I think finding a great company with a great
customer base, what I'd rather find, this is the perfect dream for me. Give me a company where each
guy is running seven jobs a day. They got 10 guys. They can't get enough help.
They hate answering the phone. They don't work nights or weekends. They got five online reviews.
They don't use a CRM. That to me is a dream. It's a fantasy. Because I'm going to go in there and give each guy three jobs a day. I'm going to hire 10 more guys. I'm going to put them through A1
training. I'm going to get nicer trucks, unify their brand, add some of my A1 trucks, add a
second GMB with A1. Then I'm going to go out and call unify their brand, add some of my A1 trucks, add a second GMB with A1.
Then I'm going to go out and call every single customer, reactivate their old list, all their customers that have forgotten about them, reactivate it by reaching out through email and mailers and say, it's time to get your garage door checked up.
We were out here this time.
Think about what you could do with that.
They might be doing $400,000 EBITDA.
And I'm going to go in and
quadruple that the first week. Now it's going to take three months to get that done. If you read
the book by Adam Coffey of the Private Equity Playbook, he's coming out with another book.
I highly recommend you guys read it. I'm having a garage show the first week of November.
I haven't released the details, but it's about three things, three things that
every company needs to understand. And this is what the whole show is going to be about. Number
one, financial literacy. Learn how to read a balance sheet and an income statement. Learn how
to make decisions based on facts. Learn how to build a chart of accounts that makes sense. Learn
how to identify the areas that you need to be concerned about and get them fixed and your life will be better.
I promise you. Number two, KPIs, understanding how to run a business when you're not there,
when you're out of town, when you're at home. Learning what sets off a buzzer in your mind
based out of just a dashboard. We're going to talk about running a business that you own, but not be in the business,
work on it, and basically have freedom to go on long vacations for three weeks to Honolulu.
That's what I want to be able to give this industry, garage doors.
Number three, very big one, learn how succession planning works.
I'm going to have people that sell businesses for a living, the best, and learn how they come up with a multiplier of EBITDA.
Learn what an ad back is. Learn how to build value of your business. Learn how real buyers,
not just Tommy Mello, but the real top players in the game structure and want businesses to buy.
What they want is they want something that no one else has.
They want a platform company.
They want to know that you've got the system dialed in and they can take the platform and
build underneath it and instantly make a shit ton of money.
It's a fun topic for me.
So what I would say is read as many books as you can on succession
planning, understand what people are looking for. They buy the story, they buy the founder,
the owner, they buy the executive team, and then they're going to do kind of an internal net
promoter score. If you're big enough to do a net promoter score and they find out what your
lookup net promoter score, you guys should learn what a net promoter score is today.
So you understand that big companies, when they buy you, will probably do this with your customers.
Sometimes we'll do a double blind survey, but they'll probably do an internal survey to find out if your company really is what you say it is.
Now, I don't want to buy a company that's right on the brink of collapsing because everybody hates it and they're ready to quit.
I think when anyone buys a business, we give them better insurance. We give them all raises. I think it goes pretty well. Let's see here. Hey, Tommy, I own a radon business trying
to expand to employees. I have a free testing on Facebook for a few thousand people, no takers,
mailers, 4,000 people, no takers. What would be the next form of marketing? When I was younger and I was actually more of a guerrilla marketer,
first thing you got to do, you got to ask yourself,
where do my customers hang out and live?
Where are they at all day?
What's their pastimes?
There's a reason why there's so many sponsorships at the golf course,
because they know their clientele is there.
So I would go back to the old school,
put my sleeves up. I'd go to guerrilla marketing. I'd go to B&I groups. I'd find out who is my potential customers that's going to be using me every week.
Why would a real estate agent use me every week? Well, let's see if she sells a house and I need
to reprogram all the keypads and openers and then program all the new cars. What about a pest
control company? How could they use me every week? week well they're spraying new houses all the time where's the number one entryway to the bugs it's in the bottom of the
garage so why not team up with them why not painters think about this why would a painter
paint an old piece of crap that's not insulated in 120 degree weather with a crack in it why not
they just replace it and i'll give them some money on it. So what I would do is get out there, start doing guerrilla marketing, meeting, shaking hands, building the base to where you can afford
marketing because it's not 4,000 people. I hit roughly 700,000 zones of 10,000. So 700 times
10,000 is like, yeah, that's, I hit 7 million households in Valpac a month and four thousands out it's just
you're not in a number that makes sense to really see the figure that there's one percent of the
people that you you market it to that need your service most of them didn't open the mailer so
that's what i would say on that what state will you not put a location in California? That's from Mitch Shipman.
I'm coming around from California.
When everybody's leaving,
it's probably the best time to go there.
When everybody's going there, it's the best time to leave.
I think there's still a ton of money
there. There's certain laws. There's certain things
you need to make sure you're crossing your T's and
down your I's.
I don't see a reason why I wouldn't have a location
everywhere that I go into.
I'll tell you what, when the laws make sense for businesses to grow and not get sued constantly,
you know, let me give you an example. Walgreens left San Francisco because
they allow people to come steal and they won't press charges. So it's impossible to make money there. So those laws detract
business owners and inevitably it'll be a really bad area. Unfortunately, there is a basic
theory of politics that applies to business. As you tax me more, rather than me being a
philanthropist and putting it back in the community, like all the charity work we do,
and it goes through their little toll booth called the government with the
Senate and the house and everybody else.
It makes it harder for small business.
And believe it or not,
I'm still a small business.
So I don't mind paying taxes.
In fact,
I'm in favor of a flat tax.
I'm not going to go too political here,
but I'm going to go into every state.
You just got to be careful.
You got to understand unions are tough.
I believe unions exist for a reason and I'm not anti-union.
I just, there's certain things that I think unions are more polluted in a lot of ways
in Chicago, New York than even the government.
And look, this is neither Republican or Democrat.
I think the government, you know, whether you're the left wing or the right wing, you're
still part of the
plane if i'm new to tommy podcast and book and have customers and five to nine employees what
is step one to improve would it be crm or operations manual like al levy suggests
ah that's a tough question i don't think they're exclusive of one another i think the manuals are super important but to not have a system to not know my kpis
i'd start both of them at the same time man i'd be gonna look for a great crm right away
that's what runs the business for us i mean it's not possible for me to make accurate decisions
without accounting and finances so So you need a financial
system, you need a CRM. And there are four KPIs I tell you guys about. What does it cost me to
acquire a customer on each marketing source? What's the conversion rate? What's the average
ticket? And what is your booking rate? If you don't know those, run. Run as fast as you could
and make sure you know it individually from each technician each installer and each csr
and then you know manuals are what changed the game for me but also having a plan i mean al
talks about his five big things and what to work on staying organized in his naming conventions
there's not just one thing oh megan's on here awesome we were going to come to california
megan i'm going to just i'm going to learn from you. Megan got sued twice, but one of the times
because she's very, very organized and she understands what she's doing. So I'd start
with both of those things. And what I would do, Cody, is I'd come visit. I always tell you guys,
I tell you to take the time to come visit and see what you don't have, see what you have.
And every time someone comes here
i learned something there's always a lot of good stuff that i get out of it when someone comes here
we'll wipe or we'll look at stuff you know and i'm not as excited to hear woohoo tommy great job
i'm more excited to say hey have you ever thought about this i think the first time i'll leave you
walked in he gave me a list of 18 000 things to do including go to one color shirt he's really
pissed off he's like why are you guys all wearing different colors i was like well we have it's got
the logo on it logo and he goes uh yeah well it looks like shit you guys don't stand out you guys
don't look uniform all right dave lewis can you share what your day looks like and how you structure
your time as a leader of an industry leading in the home service business? What data and things
do you do religiously check on? You know, I'm not like, I'm not going to say I get up at 4 a.m. and
start out with a thousand pushups. It's just not the case. I got a good work-life balance because
my work is life. Basically. Yesterday, I went to
San Diego, had the time of my life, but I was there for a work trip. I just have fun. I got to tell you,
what do I do? I start out the day with my 7.30 call. Usually, I brush my teeth and gotten out
of bed and stretched. I work out. The trainer comes to me and works out here. The one thing
I can tell you that everything has
a time on my schedule and it is packed. I've got a system where Bree prints out all my emails.
She marks the important ones, gets back to as many as she could by herself. And then she schedules
me meetings and she gives me a list of 20 emails. I know I'm killing trees, but we break it down
and I can do quick responses. I could do 10 times more than most
people because of the way that I structure my calendar, my email, and the way I communicate.
If I've got something I want to say and I don't feel like making a phone call, I'll shoot a quick
video on Zoom and share it. If it's just too complicated and too long to write a long email,
there's other people that write these emails that take forever. I don't even want to read it. I'm like, send me a picture or a video of what you're looking for. So I think
it's important that you have meetings that matter all the time, that you've got an org chart and a
depth chart. The org chart tells you who's responsible. I think it's important to trust
other people. I think you're going to find that you make mistakes when you do that,
but the not doing it
is no way to live your life. Confide in other people, but have checks and balances.
There's a good book called The 5am Club. And my goal, I'm just moving into a new house,
is I'm going to go to a sleep doctor and try to figure out how to be in bed by nine and asleep by 10.
Because right now it's pretty late.
And I'd like to start my day at five.
I don't right now.
I'm usually starting at seven, really getting started.
But, you know, for me, we do have a lot of meetings Monday through Friday.
I get a lot done on the weekends.
I look at the weekend like the time that no one else is working to come in for a few hours and actually get stuff done. For me, it's awesome because I come in here, I goof off a
little bit. I'll do a workout, whatever I want to do, play a few games, get a few hours of work done
and still have an amazing day. I love it because there's no one here. It's like, boom, I get a ton
done. And I just get to kind of just stretch and relax and think and whiteboard.
I'd say the one thing to tell you is have a whiteboard out.
Always be thinking on how to improve the process.
Read books on lean.
It's a good book.
I actually had him on the podcast, The Two-Second Lean by Paul Akers.
But everything you do should be refining the process all the time.
What day to do you check religiously i'm checking my crm and i'll tell you what i look at i'm looking at it right now
i'll give you a little bit of what's in my head right now i'm resetting i'm looking at the uh
sales sales today is 216 000 we missed 80 000 i'll go into how that works that's revenue sales are
252 000 average closed sales 1216 dollars that means we closed it that means assuming 100 conversion
that's with door sales we're at 71 conversion rate or a call booking rate this is gonna get
fixed because there's CSR level two
and the managers that will go through
and listen to the calls.
It's probably more like 80
and conversion rate.
I can't trust that number
because there's something funky.
We got a ticket into service Titan,
but conversion rate of service is 86%.
I like it to be 90.
So what I'll do is I'll scroll through
and I'll see my top guys.
I have an apprentice that did 8,000 today in service. He's brand new. You guys, I can't make this stuff up. We train
people how to be good. And I guarantee you this, I'll probably get three five-star reviews from
that guy today. And then more near the bottom, you'll love this variance. I got a guy that did
$88, $114. So then I'll right click into here. I'll open it up and I'll look at some of these jobs.
I also have a bunch of reports that hit me every morning. Every morning on my desk is a report of
each department broken down. It's literally sitting right here.
Tells me everything. CSRs, non-conversion guys. What I'm working on right now is building it.
Instead of having all these Excel and stuff, I want these reports that are built into an awesome dashboard that I hit a button and it literally text messages to the guy.
Boom, boom, boom, boom, boom. Hey, what's up with that job yesterday? Hey, dude,
call me when you can't close the job. you know i'm working with my managers too we're working on a complete accountability
system so that every time you call a guy talk about their family their goals congratulate them
happy birthday happy anniversary whatever it might be that it's recorded in a system and i
could go in there and make sure what's going on and there's notes
let's see here what's your favorite book oh boy it's such a hard question my favorite book i mean the e-myth was really really good it changed my life when i come up here how do when friends
and influence people by dale carnaby uh napoleon hill's great great. That's such a tough question because I love a lot of
books. It's kind of like a movie. People say, what's your favorite movie? And I'm like,
well, I've already watched it. So I don't watch it and watch it and watch it. I think there's a
lot of books that every owner needs to read. So guys, all I can tell you is I think sometimes
you got to take a step back from your business.
Everybody that's listening right now, you need to remember why you started. Remember the point.
Remember what you love to do and your job in the next few months after listening to this podcast
is to get your ass out there and figure out a way to hire your weaknesses and go back to doing what you love. If you love meeting customers and
sales, then freaking do that. Don't come in and be an accountant and start having really meetings
that you hate. Hire the people that you need. Shoot, I know guys that admire CEOs for their
own company. Damn good CEOs. Think about why you started and think about what kind of life you
wanted to give you. Megan's on here and she just congratulated her and her husband.
Congratulations.
They've been able to spend a lot of time traveling, doing what they love.
And she said, guys, I just read this the other day.
She said, it takes a while and it's a lot of work.
It's a lot of stress.
It's a lot of nightmares, but it's all worth it in the end when you hit a
spot that your business is running and working for you and you can travel and enjoy the time
with loved ones and travel the country or maybe even the world. So, you know, I think I've hit a
point. I'll tell you what, there's peaks and valleys in a business. And as you grow an employee
count, it changes. Now there's a lot of businesses
and a lot of people listening that are super content with their 20 or 30 employees. And that's
great. And I encourage that, but always remember to build a company. You can sell one day. There
will be a time that you're going to want to sell and start thinking about it today and how to build
enterprise value. Think about what you can do to build enterprise value
because I think it's so important.
I don't think I have much more.
I'll think real quick about some other stuff we're doing.
The reason I went to California is I'm working with a company called Get the Referral.
And I think it's going to be a game changer.
But let me master that before I get you guys onto it
because I'm going to have him on the podcast. and he's going to give us a special rate.
Yeah. You know, the owner is great. I went out to eat with him. His name's Jamie.
Also, we're working with a new software that posts on social media.
So we go on there, we pick a theme of the month and we just it's an auto poster.
So we fill up the calendar with tons and tons and tons of content.
We're always reaching out. We've got tools that reach out to people to add as friends and stuff so our
content is always in front of them from eight different directions and i think when you read
the book they ask you answer my market shared i gotta tell you i love the e-myth i love ultimate
sales machine i love the richest man in babylon but that they ask you answer is, it's a special book to me because I love content. I love marketing. Anything marketing
and sales I love. What's your opinion on going into debt to start your business? Well, here's
my first answer. And this will be the last question I answer for you guys. Let me look at your credit
card statement. Let me see what your
credit card score is. If you got a 790 and you don't own any credit cards and you're financially
stable and I'd have to see a business plan, I'd like to know your marketing and sales concepts.
I think the SBA loans and loans exist to leverage. I think now's a scary time though,
because do not get an arm.
An arm loan will go up. Their standard interest rates are going to go up. Today, the news just
came out. That's why the stock market went down. So if you understand what loans do,
the problem by not starting with money, there's good and bad, right? To everything. If you don't
have money, you're putting sweat equity and you're working nights and weekends. You're really putting a huge, huge dent into your family life.
The problem when you borrow money is you don't have that realization that you've earned it
and you blow it real quick.
You make a couple of mistakes and that money's gone.
And now you got some debt and you don't have a good business.
So I'd really not love to see a structured plan.
Let me see.
Yeah, no, I read the visual sale too, Megan.
It's amazing.
The visual sale by Marcus Sheridan is really, really good too.
He's got some good scripts in there of what you send to your customers.
We're actually almost done with our buyer's guide.
And it's like 40 pages.
And it's awesome.
We're going to send it to every customer.
But what's cool about the buyer's guide is you can tell when somebody clicks on it and where they spent most of their time, and you can have interwoven articles within the clicks.
So anyways, Johnny, I would say get a loan if you're very, very responsible.
Don't use the money unless you have to.
Grow guerrilla marketing style.
Be very, very careful.
Buy assets that you could sell.
If you lease a building, make sure you have the opportunity to get a sublease because you might have an oh shit moment. And I think you'll be good. The good thing is get a
loan for as much money as possible, but only as you take it are you getting paid interest.
Because it's hard to get a loan when you need it. It's easy to get a loan when you don't need it.
Right now I've got lines for $5 million. I haven't touched. I got another one for a million. I got money if I need
it. And then I've got plenty of money in the bank. So anyways, guys, I'll leave you with a few other
things here. Let's see. You guys, I went over my favorite books. You guys know how to get a hold
of me. If you guys ever wanted to tour the shop, I'm trying to set up twice a month where all the
people come in. We'll go through the shop. we could ask a lot of questions and i always say one good thing at the
end to discuss i would say now's a very unusual time it's a weird space i don't know what's going
on i look at a lot of stuff i look at the stock market i'm in the crypto i'm into real estate i'm
into the world bank i'm into different currencies to understand
inflation. And right now it's what's called a bull market. And I don't know if it could stay
this way. Not with some of the decisions being made right now. We do need infrastructure. We
need infrastructure. What I would say is put a lot of money away for a rainy day. Be prepared. Money in the
bank. Don't act like this is going to last forever. It's great. I don't see an end very close,
but grow your business at a steady rate. Don't try to explode unless you have an exact plan with your CFO and a controller and you're trying to sell
in the next 12 to 18 months. That's the only way I would say that I would be exploding right now.
And I'd be really, really careful because anybody that's buying you is going to go,
what's going on? So you better have a good story behind that. So anyways, guys, I really appreciate
you. I love this podcast.
I love the questions.
I love the people we get on here.
My goal, as always, is to deliver value,
hopefully help you grow a business. When I get emails and text messages and Facebook messages,
I mean, literally tears come to my eyes sometimes
if I get to spend time with my son again.
I haven't been to a baseball game in a year
and I'm his coach.
That kind of stuff changes the way I look at life. So if I could help you guys in any way, this is not a
profitable thing. This is me trying to pay it forward, trying to let you guys not go through
some of the mistakes that I've been through. Hopefully you guys have killer home service
business. You grow them, you make a lot of money. And we could go either on your boat
or maybe my boat one day. Mine will probably be the pontoon boat and you'll have a yacht.
I would love to go on it. You invite me and we'll have a beer. But anyways, guys, enjoy your weekend.
Stay safe out there. Stay hydrated if you're in the West Coast. And we'll see you guys soon.
Thank you very much. Hey, guys, I just wanted to thank you real quick for listening to
the podcast from the bottom of my heart means a lot to me. And I hope you're getting as much as
I am out of this podcast. Our goal is to enrich your lives and enrich your businesses and your
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You're going to find out all, please subscribe. You're going
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So we also create a lot of accountability within this program.
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It's homeservicemillionaire.com forward slash club.
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So thank you once again for listening to the podcast.
I really appreciate it.