Q&A With Tommy - Doubling Down on Core Markets and Rethinking Expansion Strategies
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What strategies should I use for hiring in my business?
And I know that they're willing to put in as much sacrifice as I'm willing to put in to grow something together. And I'll make sure they win at the end. I would need to make sure to hire perfectly. Your first few hires are going to make or break the company. Well, that's kind of how I'd start. Then I'd go knocking on every neighbor's door. I'd find out the HOA president. I'd say, let me just look at your system. I'm not even going to charge you. I'm already here. 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.
Before we get started, I wanted to share two important things with you. First, I want you to implement what you learned today. To do that, you'll have to take a lot of notes, but I also want you to fully concentrate on the interview. So I asked the team to take notes for you. Just text NOTES to 888-526-1299. That's 888-526-1299.
And you'll receive a link to download the notes from today's episode. Also, if you haven't got your copy of my newest book, Elevate, please go check it out. I'll share with you how I attracted and developed a winning team that helped me build a $200 million company in 22 states. Just go to elevateandwin.com forward slash podcast to get your copy. Now let's go back into the interview. All right. Welcome back to December's Q&A podcast. One of my favorite podcasts of the month. Had a very good conversation yesterday. Just have I have a full time person. This girl's absolutely phenomenal. She's going to be working on the podcast tomorrow. And we're going to be coming out with a second podcast called The Mellow Millionaire. I think that's what it's going to be called.
So we're going to be bringing home service expert, all home service, 100% home service. I've got a lineup that takes me all the way through May. So it's going to be great. And then the mellow millionaire is going to be all about how people have made lots and lots of money in life and more business strategies, not just home service and home improvement. Home service, home improvement will continue to be home service expert. Man, what a hell of a last month and just the hell of a year. It's already December. We've been with Cortec partner now for two years. And as you guys probably know, with private equity, they have to hold you for three years minimum for tax purposes. Sometimes a PE group will sell under three years, but it doesn't make a ton of tax sense to do that. So I've got a lot of questions here. If I don't get to all of them, you guys go to homeserviceexpert.com forward slash questions. I know that wasn't working before. It's fixed now. I'm going to read the questions out loud and go through them slowly. I want to talk about a few things.
Actually, quite a bit of things in advance. I'm just going to talk about some of the epiphanies I had, what I'm going to be working on in 2025. So 2025, I got four major things. Call center. I want you guys to write down your booking rate. If you're listening right now, think about your booking rate. Now, let's just say you're doing $10 million a year. For every percentage point you get an extra booking rate, that's $100,000 if you're a $10 million business. So call center. I want to be able to call my call center and feel like the person treated me like gold, like literally like a family member. Like I want to be blown away. I just don't want a call center that books the calls. I'm beyond that. That's what I wanted for 2024.
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Chapters
8 chapters
1
What strategies should I use for hiring in my business?
0:20–4:09
2
How can operational efficiency boost my company's growth?
4:09–8:35
3
What marketing tactics can help my business scale?
8:35–18:16
4
How do I ensure the right leads for my sales team?
18:16–20:26
5
What are the best practices for expanding my business to new locations?
20:26–43:18
6
What key books should I read for business growth?
43:18
7
How can I develop discipline for success?
12:50–23:59
8
What are the common mistakes in business expansion?
23:59–1:01:39
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