Next Level Pros Podcast Summary
Episode #131: 3 9-Figure Businesses in One Room? How Tommy Mello, Chris Lee, And Daryl Kelly Grew Their Businesses to Hundreds of Millions of Dollars
Release Date: November 22, 2024
Host: Chris Lee
1. Introduction and Background
In this episode of Next Level Pros, host Chris Lee is joined by entrepreneurs Tommy Mello and Daryl Kelly. The trio delves into their respective journeys of building nine-figure businesses, sharing insights, challenges, and strategies that have propelled them to immense success.
Notable Quote:
- Tommy Mello [00:00]: "We're really good at that. We're really good. Like, I'm an optimist. I don't care if the cup is empty. I make it half full."
2. Foundations of Success
The conversation begins with both Chris and Tommy reflecting on their humble beginnings. Chris mentions relatable origins, likening their early operations to iconic startups like Google and Facebook starting in garages.
Notable Quotes:
- Chris Lee [00:19]: "We would always be like, look, this is us."
- Daryl Kelly [00:29]: "I realized, like, as a visionary, you can't be a man of your word. You got to be a man of your vision."
3. Building and Maintaining Business Relationships
Tommy highlights the importance of fostering strong relationships with business partners. The dynamic between him, Chris, and Daryl is likened to a marriage, emphasizing the balance between distinct personalities and leadership styles.
Notable Quotes:
- Tommy Mello [06:07]: "We got two alphas. Just, just."
- Daryl Kelly [08:05]: "I'm firing them for everyone else who's there working for me."
4. Strategic Growth and Scaling Businesses
A significant portion of the discussion revolves around scaling businesses effectively. Tommy shares his experience with private equity (PE), detailing the challenges and lessons learned from selling his business to PE firms. Both Chris and Daryl provide insights into maintaining control and ensuring sustainable growth.
Notable Quotes:
- Tommy Mello [17:22]: "The fear is like, what if I hire this guy, and he takes my whole team and he starts to."
- Chris Lee [30:11]: "We got this great strategy of generating leads online."
5. Hiring Practices and Company Culture
Both entrepreneurs stress the importance of hiring the right people and cultivating a strong company culture. They discuss avoiding industry-drilled hires in favor of molding talented individuals from diverse backgrounds, thereby fostering loyalty and high performance.
Notable Quotes:
- Tommy Mello [53:17]: "We have to create homegrown badasses."
- Chris Lee [54:04]: "We never hire industry people because industry people are trained up incorrectly."
6. Overcoming Challenges and Embracing Innovation
The trio shares how they navigated unexpected challenges, such as the COVID-19 pandemic, by leveraging innovative strategies like virtual sales floors. They emphasize resilience, adaptability, and the relentless pursuit of improvement as key factors in overcoming obstacles.
Notable Quotes:
- Chris Lee [32:49]: "That was our really cutting edge because we initially did what we called web to home."
- Tommy Mello [27:07]: "I'm a fighter. And I never wanted to quit."
7. Lessons from Private Equity and Business Sales
Tommy offers a candid perspective on selling businesses to PE groups, discussing the emotional and strategic implications. He advises on the importance of maintaining control over critical aspects like marketing and underscores the potential pitfalls of such partnerships.
Notable Quotes:
- Daryl Kelly [59:42]: "You do lose control when you have a partner like a PE."
- Tommy Mello [71:56]: "Money will ruin people quicker than it'll help them."
8. Personal Development and Habits
Personal growth is a recurring theme, with both Chris and Tommy advocating for disciplined habits and continuous self-improvement. They highlight the significance of physical health, mental resilience, and the cultivation of positive routines as foundations for business success.
Notable Quotes:
- Tommy Mello [80:37]: "I am your greatest helper or your heaviest burden. I will push you onward or drag you down to failure."
- Chris Lee [79:14]: "Atomic Habits by James. Every time I read that book, it gets my mind right."
9. Closing Insights and Recommendations
As the podcast wraps up, the guests offer valuable advice to aspiring entrepreneurs. They emphasize the importance of having a unique "why," investing in personal and professional development, and prioritizing meaningful goals over superficial success.
Notable Quotes:
- Chris Lee [90:23]: "Get your time and what you say is really put down a list of priorities you want your life to look like."
- Tommy Mello [92:26]: "Money will ruin people quicker than it'll help them. So just be very careful what you guys want."
Key Takeaways
- Vision Over Words: As Daryl Kelly cites, being a man of vision is crucial for entrepreneurs, as it allows for flexibility and adaptability in leadership.
- Hiring the Right Talent: Building a team from diverse backgrounds and focusing on personality assessments can lead to a high-performing workforce.
- Embrace Continuous Learning: Engaging with mentors, consultants, and investing in personal development are essential for scaling businesses.
- Strong Company Culture: Transparency, trust, and aligning company goals with individual aspirations foster loyalty and drive.
- Resilience is Key: Overcoming setbacks through innovation and determination is fundamental to long-term success.
- Balanced Personal Life: Prioritizing health and personal well-being enhances overall productivity and leadership effectiveness.
Connect with the Hosts:
- Chris Lee: Follow on Instagram [@ChrisLeeQB]
- Tommy Mello: Visit TommyMello.com for all social links
- Daryl Kelly: Find on Instagram [@DarrellCKelly]
Recommended Books:
- Atomic Habits by James Clear
- Becoming Supernatural by Joe Dispenza
- Good to Great & Built to Last by Jim Collins
This episode of Next Level Pros offers a deep dive into the minds of successful entrepreneurs, providing listeners with actionable insights and inspiring stories to fuel their own business ambitions.