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The Everyday Millionaire and Mindset Matters Podcast
TEDM – Joe Norelli – Fearless and Fully Committed (Episode 214)
01:07:28
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- [00:00]
Joe Narelli
Foreign.
- [00:05]
Patrick Francie
Welcome to the Everyday Millionaire Podcast. My name is Patrick Francie and I am your host. And I want to begin by saying thank you for listening. On this show, I am having conversations with seemingly ordinary individuals who have achieved some amazing and extraordinary results in both their life and business. My intention is to inspire and help you learn and grow by having my guests share their journey of how they face and overcome their challenges, but also how they celebrate their their many wins. And now let's get on with this show and have a conversation with today's guest. My guest today, Joe Narelli, is the founder of 35 Technologies Group, a manufacturing company that specializes in defense and aeronautical systems. His work supports the US Military to ensure that the men and women who serve have the most advanced technology at their disposal. But beyond his contribution to def, Joe has dedicated his resources, his time, passion and money to making a real difference in the lives of young people. Through the Norelli Family foundation, he played a pivotal role in philanthropy, most notably in his collaboration with rock star legend, Mr. Alice Cooper. Their shared commitment to empowering youth has led them to build Solid Rock Teen Centers, which provides free after school programs in music and dance and the arts for at risk teens. Joe also served as the executive producer of the album Solid Rock Revival, which featured artists such as Alice Cooper, Slash, Rob Halford, Calco Cooper, all with a mission of bringing positivity and hope to young people through music. In today's episode, we're going to explore Joe's journey from business success to impactful philanthropy, the values that drive him, and how he's leveraging his influence to create meaningful change. So whether you're an entrepreneur, a philanthropist, or just someone looking to be inspired, you're going to want to stick around for this conversation with Joe. Without any further delays, let's get this show started. Joe Narelli, welcome to the Everyday Millionaire podcast. Thank you for joining me.
- [02:30]
Joe Narelli
Well, thank you for having me, Patrick.
- [02:33]
Patrick Francie
Now, Joe, I always open this way because biographies that my guests show me can be relatively thorough but are often out of date. Yours is just, you know, a list of stuff and accomplishments, which in itself is quite impressive. But let's just make it simple for our listeners. When somebody says, so, Joe, what do you do?
- [02:57]
Joe Narelli
Wow, that's tough these days. Ten years ago it was easy, but these days I do a lot of different things. My main focus in life is we have a manufacturing, engineering and test facility or multiple facilities in the state of Florida that are based in basically the military world. Radar systems, missiles, electronic warfare stuff that's pretty much Been our focus for the 30 something years I've been in Florida.
- [03:31]
Patrick Francie
So does that mean you're really busy these days, Joe, given what's going on?
- [03:37]
Joe Narelli
I just left a. Hopefully it doesn't get to some of the people that I just left, but there was a conference call from 9am to 5pm That I just had enough of that I've been on all day listening to. So yeah, we are pretty busy. You know, the world is not what it once was 30 years ago or 100 years ago, etc. There's dangers everywhere and yeah, the military industrial complex in the US is up and thriving, there's no doubt about that. So. Well, only because that's where we made most of our headway over the years.
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Patrick Francie
Yeah, and only because you've got some, you know, I guess you got a view of the world that most don't have in that capacity. You know, when I look at what's going on and we hear about Putin and we then talk, you hear about China, what's going on in any number of places, Middle East, I mean there's so many different issues going on, Israel, etc. Are you concerned, are you legitimately going, you know something, it's one thing to be manufacturing this equipment, it's another to realize that we need more of it because things are escalating or how do you view it? Is it, is that something that you could talk about?
- [04:50]
Joe Narelli
It is a, sometimes it's a, it's a quandary. Right. You, you have 100 and something people that work for me that have to make weapons, parts that go into weapons. Right. And these weapons are well known weapons that are systems that are used daily or, or wherever in the Mideast or the Ukraine or, or wherever over the past X amount of years. So you do have discussions with them that if they don't want to do it, we try and find some commercial work but we have very little commercial work in house. But it kind of hard to do always balance the fact that what you do is, is destructive in some cases, but necessary in many others. So.
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Patrick Francie
Well, I guess there's a part of it that if you look at it, you know, we all have concerns. I mean I'm sure that at some level or in some ways you look at it and go, well it's a necessary part and you can maybe even feel proud of the fact that you're supporting military and yes, you're monetizing it and, and all the rest of it. But at the end of the day you're also Part of, you know, the strongest military in the world, and you get to be a contribution to that. And, and I mean, in many regards, that's a good thing, given the enemies that are out there and the propensity to get really mean. So I guess there's a part of it which is, to your, you know, like you say, there's a bit of a quandary which is, gosh, we're, you know, manufacturing parts for weapons, and on the other side of it, it's got to be done, and you're doing it. So.
- [06:29]
Joe Narelli
And you, and you want to stay, you know, you do want to stay the most advanced in the world because you need that advantage. And hopefully, I think it was Reagan, you know, straight through the, you know, you know, strength from being able to have that, you know, the strongest military. Hopefully it's a deterrence. So unfortunately, it hasn't been, but it was at one time was a, you know, our strength was a deterrence to others to begin wars or invasions. Now it doesn't seem to be that way.
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Patrick Francie
Yeah, we've. We, yeah, the US Seems to have lost that trump card.
- [07:08]
Joe Narelli
Very good, Very well put.
- [07:16]
Patrick Francie
And then, of course, we have the issues here in Canada. Okay, well, let's, let's not bother spending a whole bunch of time on that conversation. This is really about you. I mean, that manufacturing and engineering facility has served you well. You've gone on and, I mean, it's just one of the many things that you've done. And certainly you've created a lot of wealth doing that, Joe. And then you've gone on to do some really cool philanthropic things. You know, this point in your life, you're giving back a lot of ways to community. Let's just, before we get there, you know, give me a little bit of insight into how you got on this journey. How did you end up, I mean, to take on a manufacturing facility and to build a manufacturing facility to do what you're doing. It doesn't just happen. It takes some thought, I'm sure. Was it your entrepreneurial accident or how is it that you ended up on the journey of manufacturing, whatever it might be?
- [08:13]
Joe Narelli
Ah, well, it's. It was an interesting journey. I don't think that, you know, in your high school or college yearbook, I had the most, you know, I'm going to be the most, you know, entrepreneurial guy or the most successful guy in the world. Basically, out of college, I just worked 9 to 5 like everybody else, bartended at nights to get through college, and really had no, I guess, Desire to move past nine to five and going out, having a good time at night. Ultimately, I think the changing point comes you get married and then when you have your first child, that's, that's what mortality set in. You know, now you have something that's going to be around way past you, hopefully, you know, you have to, you have to leave them something, you have to do something for them. So we, you know, had a good job in New York. I was the VP of marketing sales for a company and good future, making good money, you know, and the, the guy, the gentleman that I reported to is basically my age. His father owned the company and it was a good company, son and I would, would battle over pricing and things like that at times. And then one night, it was one late afternoon, we're arguing over what a price of a product should be. We're making products for missiles and things like that. And he basically got up from behind his desk, pointed to me and said, remember who signed your paycheck. And I'll never forget that. And boy, you know, I didn't get upset. I said, you know, he's right, he does sign my paycheck. He gets to make the final say of what his company does or doesn't do price wise. I went home that night and I told my wife, I says, get ready, we're going to move. I'm going to quit my job and we're going to do, we're going to start this and do something on our own. She looked at me kind of funny like, okay, yeah, I get it. And a couple of weeks later that's, I put in my notice and we moved to Florida and we. She wouldn't let me sell the place in New York for fear. Well, not for fear she'll even admit today since for when you fail, I want a place to come home to. That's exactly what she said. She still admits to it today. And it took about seven years until we built our house that we live in today. And in 1999 when we moved to the bigger house, she gave me the okay to sell the place in New York and was settled in that I was at least on the path to taking care of now. We had four kids at that point. So that was the aha moment was having the child and then that moment that somebody else controlled basically what I could afford and what I couldn't afford. We moved to Florida in 92, continued on, started one company, then another company, then another company. It just kind of snowballed from there and it really came out of, not out of a necessity to achieve anything, but out of a necessity to keep surviving. You know, at the beginning I was, I was relying on other companies that I was selling for and representing. And you know, as the crunch came there, I realized I could do things a little better myself. I started making certain parts. Then I realized when I couldn't get other parts because we were too small, I went and started another company to make the other parts. And then ultimately we became vertically integrated as we are today with about 80,000 square feet of manufacturing and 120 employees.
- [12:07]
Patrick Francie
So, so fascinating. Now you talk about engineering or do you have a background? Are you, do you have any degree in engineering or how did engineering evolve? Was that part of your background?
- [12:20]
Joe Narelli
Well, it all started we'll go back before I was married and we'll go, and we'll go reverse chronologically or however you do it. So when I first moved to Florida, I left New York. I was, I don't know if you're old enough, but we used to, I had learned how to work on Lotus 1, 2, 3, on apples, sure, program, mini, mini, IBM, mini frames. So I came to Florida without a job the first time. And I went to work with my father's friend who was like a sales rep in the electronics industry, selling military components and et cetera. And he asked me what I did and I said, I do, you know, I'm finance guy, I'm accounting guy, I'm a numbers guy. And he ultimately said, hey, could you help me? My sales guys are always thinking I'm cheating them out of commissions. Could you build these spreadsheet things for me to show them, you know, what's going on? I said, of course I can. And George was a great guy and he hated to drive. And one day his Miami sales guy, his Boca sales guy quit. His Miami sales guy wanted to move up. So he says, we're going down to the hire sales guy. So after a few days of his interviewing, we're driving back and I asked him how did it go? And he said to me very bluntly, said, do you know what a retread is as well? I, you know, as a kid I was always in the auto parts and etc. I said, well, I know what a higher retread is. Well, I said, what are you talking about? I said, well, all the guys I interviewed were retreads. I still didn't get it as well. Think about it. They're all telling me how much money they make and they're all successful, yet they want another job. They want to move on to me. He said, that tells me that they are about to be found out, that they're living on someone else's residuals and not really getting the job done, so they want to go grab somebody else's residuals. All right. I mean, that's sad, but I guess that could be true. I wasn't familiar with the business. I said, so what are you going to do, George? He says, well, you're going to be my sales guy. I said, george, you're kidding. I mean, I don't know anything about, you know, it was an RCA semiconductor, and back then I thought RCA was TVs, you know, and it was like, I don't know what you. You do for a living, you know. He said, well, are you afraid to be in the Miami area? No, I was born in. I was born in New York City. I said, I'm not afraid of Miami area, but I don't know anything about what you sell. He said, well, think about it. What's the number one. What's the number one engineering school in America? This is back in the early 80s, I got to say, maybe MIT, maybe Georgia Tech. He said, I'll agree with that. Says, what's the number one sales school in America? I don't know of a sales college or sales school. He says, that's right. He said, engineers are made. Salespeople are born. I can make you an engineer. I can't make you a salesperson or salesman. So that was it. I said, all right, well, I'll. I'll give it a shot. And that's how I got into the electronics industry. I spent four years down there, and maybe we'll edit this part. I didn't marry his daughter, and I got fired and went back to New York. I continued on until, you know, until 92, when. When my new boss had told me that he was control the paychecks. And I think I know enough after all these years working for different electronics companies to do it myself. So that's how it all began. And then the more people that controlled what I could get done by me either having to rely on somebody else to make parts for me or get me parts, the more frustrated I got with the time it took and the cost, you know, the cost that they were charging me. And ultimately we opened a machine shop, we opened an engineering lab, you know, assembly. It just went on and on and on, and then we just integrated everything.
- [16:33]
Patrick Francie
Well, you know, what I'm hearing in all this, Joe, and this may seem, you know, kind of Forgive me as I kind of unpack this a little bit. From my perspective and what I'm hearing is that when you consider, you know, the fact that your boss, you know, the story you shared earlier was about, you know, he's signing the check, remember that? Then you just share the fact that you're having to rely on others, you know, for their timelines on parts, their pricing on parts, and you wanting to deliver quicker, better, less expensive, not be at the effect of others, you know, really is, you know, the. It's seeming is that you're going, I need to have control of what I'm doing. And you have a set of values and a set of standards that nobody seems to be living up to. So you go, okay, I'm not gonna about it. I'm just gonna fix the problem. And that's.
- [17:28]
Joe Narelli
That's pretty much it. It's. You try not, you know, you don't complain in life, and complaining gets you nowhere. You know, you analyze it, you look at it, you get around it, you sidestep it, you move through it. You know, you have to come up with a solution and you have to live for tomorrow and you have to get it done. So that's pretty much the way we've lived.
- [17:50]
Patrick Francie
Well, I always, I, you know, I go back and this is a pretty common question on my podcast that I have because, you know, over eight years of doing this podcast and hundreds of guests and, you know, very successful individuals like yourself who, you know, seemingly ordinary, who have achieved extraordinary is what I look at it. And, you know, first off, my guests rarely consider themselves extraordinary. They just go, yeah, I just got shit done and I did what I had to do and I had fun doing it, or I was, you know, filling a gap or solving a problem, and it was, you know, my, you know, my entrepreneurial accident. But so I asked the question of this, is it nature or is it nurture? So in other words, if we go back, and you go back even a little bit further in the timeline that you described, when you're a kid growing up, were your parents entrepreneurial? Your dad, your mom? What gave you this sense of, number one confidence that you could pull this shit off? Because that's what gets in most people's way of fear of failure, you know. So what gave you the confidence? And was it because you came from an entrepreneurial background or what was it for you?
- [18:56]
Joe Narelli
Well, I guess no. My father was a construction worker, union worker, and heavy machines. My mother worked as a cashier at a drugstore growing up. I guess probably the one thing that came about that, that I remembered in a childhood that sparked me to, you know, that is a way to make money back. I guess it might have been like 14, you know, you have a, you have, like, you have your, your chores to do. You get your allowance or whatever. So I would get $5 to, to mow the lawn. Okay. Back in, you know, the early 70s or whatever. And we got a pretty big size lawn, so I paid a kid to do it for $3. So one day I'm sitting in the front step listening to music on an old AM FM transistor radio while kids mowing the lawn. My father comes home, went in to see my mother, said, what the hell's going on out there? And she said, well, paid him to get the lawn mowed. He's getting it. He's getting a mowed. No, I paid him to mow the lawn. No, you paid him to get the lawn mowed and he's. The lawn's getting mowed. You know, we got away with that for a couple of times before he said, no, you're mowing the lawn. That was the, that was the first time I learned how to sub out some work.
- [20:21]
Patrick Francie
So delegation made sense to you early on. Was that because you could do the math in your head or because you, because this is, you know, I think it was Bill Gates. Might not have been Gates. It might have been Amazon Jeff Bezos, who said, I don't know who it was. It was one of those guys, I think, that said, you know, if you want something done, ask a lazy guy to do it because you'll figure out the cheapest and best, most effective way to do it because he doesn't want to do it himself. Something along that line. My question is, is that, did you do the math or did you just learn how to delegate early on?
- [20:58]
Joe Narelli
I did the math and I was lazy.
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Patrick Francie
Yeah, there you go.
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Joe Narelli
There was no doubt about it. I was always allergic to that type of work. So it was, it was. I wasn't going to push the lawnmower in the summer in New York. That was not what my idea of fun was. And, And I did the math. I said, hey, I still can come out top on top, make a couple of bucks and, you know, and get it. I mean, I stayed around and watched, so the job was done. Right. But I just was. I guess I was a little lazy because that's what my father called was lazy.
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Patrick Francie
Yeah, that's funny. But, you know, I think that's cool. That's great for Whatever the reason, you know, to be and to, you know, to realize that you had that quality again. You know, I'm always interested in these stories of entrepreneurs like yourself, business owners that, you know, they. They built this and they built some great businesses and seemingly fearless. I'm sure you had many sleepless nights and have gone on to do some amazing things. So I'm curious for you, Joe, is that at this point in your life, only because of what I know of you and what you've shared, you've been part of a community, you're philanthropic in what you're doing. You are a contribution to the community. And young people, back early on, were you always that way, or was this something that just morphed as you kind of had success in business? There's always a story that, well, when I make money, I'll be as philanthropic and I'll donate as much money as they do, you know, but until then, not so much. Did you come from a place of I'm doing this for the money or I'm doing this because it's what I love to do, and I'm making a difference, and out of it will. Money will come. So it's kind of two questions. I know it's a little convoluted in the question, but I'm curious as to how you kind of hold that contribution and making money space.
- [22:57]
Joe Narelli
Well, I've always told my kids as they were growing up, I said, you know, try and find a job or work or a business or something that you like to do or love to do, because you're going to do it for an awful long time. I mean, like my oldest son, you know, took him a while to figure out what he wanted to do. And he's a firefighter. Firefighter, paramedic, loves doing it. I mean, it was, you know, it's not, you know, you always think, oh, your kid has to go to college, blah, blah, blah, you know, but it's always, he loves doing it. And down here, I don't know what they pay in Canada, but they're like 18 bucks an hour to get paid, you know, And I'm not really happy that he has to go out and save somebody's life or whatever for 18 bucks an hour. But he loves what he does. So, you know, I always love what I did. I mean, the salesman part of it is always out there talking to people. You know, you grow up playing sports and you have. It's competitive, right? You know, you play sports competitive, you get an edge, then you grow old. If you're not a professional athlete. You grow old fast and you're not playing competitive sports by your early 20s or whatever unless you're playing a beer league. Winning orders or sales or sales is competitive. I don't like losing. You don't like losing in order to competition or losing an opportunity. So I think it was more of a competitive drive that keeps me, continues to keep me going. And that's what I enjoy most is having a competitive edge. Like during COVID when Covid hit, you couldn't go visit anybody. We were doing a lot of this, you know, and half the people I talked to, they weren't wearing any pants underneath the, you know, underneath their desk, you know, and the dogs are barking in the background. So, you know, you know, I lost that little bit of edge of seeing people conversing, you know, and doing the back and forth and negotiating that competitiveness. The winning and losing now is even more important to me than the actual dollar value, you know, so that's what, you know, that's what I've. What drives me today is just the idea that still competitive. I mean, I can't hit a baseball anymore or, you know, you know, hit a jump shot from 30ft anymore, but I can still win an order here and there. You know, that's what, that's what makes it as far as you always want to give back. Me, we grew up, I grew up that way that always be thankful for what you have. My parents were always generous people. My whole family was. So you always grew up either giving to a church or charities. Back in the 70s, you know, when you drove the streets in, in New York City, they had the guys that would come out off from the traffic light and clean your windshield. Yes. And you know, when, when I would go down with people, people would freak out and I give them a buck or two bucks or whatever I had. If I didn't even have any money left or cash on me or small bills, I give them some cigarettes because everybody smoked back then. So it was just kind of a thing that there's always somebody better off than you and there's always somebody worse off than you. You try and you try and help those that are worse off and maybe somewhere along the line you get a break that helps you become better off.
- [26:18]
Patrick Francie
Great philosophy. So when you look at the business now, this many years later, you know, you've been very successful and through a lot of hard work. 80,000 square foot facility, 125 staff. When you look at growing that business, how much of that did you do in. Let me see if the way I want to ask the question is did you just figure shit out for yourself? Did you have mentors? Did you study? How was it that you kind of unfolded all of this? Did you, I go back to the thought process of you mowing the lawn and hiring somebody. You know what's right away says okay, Joe doesn't mind delegating. He's not the technician that has to be the one man show and do it all. So did you just surround yourself with smart people that fulfilled on a plan or how did you kind of orchestrate that? Joe?
- [27:11]
Joe Narelli
Well, that's a, you know, from 82 to 92 I worked for a lot of smart people. I really even in even going back to high school, you know, I work for a lot of smart people and always, pretty much always for small businesses. Maybe, maybe there was one or two large companies that I worked for, but always small entrepreneurial type businesses where you got close with the owner and you had a day to day interface with them. And I learned a lot from each of these jobs that I had from mid-70s to the early 80s. And realistically, you know, you go at this in a manner that, you know, I tell, you know, I tell my kids at home also it's a dictatorship, not a democracy. And pretty much the company is all owned by me, you know, and, and it's a dictatorship, not a democracy in the sense that I make the final say, I'll listen to everybody. Five people could tell me we should do it this way. I believe it should be done that way. That's the way it's going to be done. But very rarely is that the case. You have five good people working for you, you are going to listen to them. But early on weeding those people out, it takes a while. Now I have a phenomenal staff of people that have been with me. Some have been with me 25 years and so five or 10 years I have one, my younger son works for me, my son in law works for me and I worked them hard. But you have to have a good core of, out of 120 something people. You need a good core of five to 10 people that, that, that you can count on to go that extra mile for you. The day to day people that do assembly, you know, they have a life. And I try, I try to tell my son and my son in law don't expect them to take this job home with them. I mean it's not their life, your life, it's my life. It's not their life. So don't expect that from somebody that's making 15, $20 an hour from some of your managers or your engineering guys. You do expect a little more than the normal person, but you surround yourself with those type of people that can run things for you. We just got back from Italy. Everything ran smooth. You know, I didn't have to have a worry in the world. So it's comforting to know that after all these years that I've been able to cultivate and get the right people to work with us.
- [29:40]
Patrick Francie
So when you look into the future, are you now building the business as legacy for son, son in law, family? You see it carrying on for years beyond you. Is that kind of your vision for where you see or hope that your business goes?
- [29:54]
Joe Narelli
Joe I've been taking it five years at a time for the last 10 years. When I turned 65 last year, I said, let's take a look at the next five years. You sell the company, you sell part of the company, leave the rest of it to the kids and et cetera. So we've looked at all avenues. What I've done is the complete opposite. I've got two companies, I'm looking at purchasing and integrating. I've got two potential opportunities with multi billion dollar companies to work, license their ip. So I kind of, every time, you know, I find that spot where I think I'm leveling, going to level off and find a transition period as people call it, I find something else that incentivizes me to say, you know, I got a lot left in the tank, so let's not stop here and let's do a little more. Something happens, the kids will be able to take over.
- [30:55]
Patrick Francie
You know, it is interesting, isn't it? So like you, I turned 65 last year. I turned 66 here in 2024. And I was reading a, I don't know, it was a tweet or a paragraph or whatever they call it X. Anyways, the point of it was that it was pointing out how many boomers have either come back to work or continue to work. And in this person's view of the world, it's because the cost of living is too high and they can't afford to retire or their retirement plans were skewed because of what went on. Now there may be some degree of truth to that. And the data, I guess if you looked for it would probably be there saying, okay, well there's a whole bunch of boomers that we're planning on retiring and given the inflation, given the Cost of everything. There's. They can't afford to live the lifestyle they want, so they continue to work. I've always joked, I've always joked that I'm on the Freedom 95 program because I love what I do. And although some days I go, what the fuck am I doing? Most days I'm going, I really enjoy what I do and what am I going to do? So you know, you know, you look at somebody like you who's created the wealth you got, I am going to poke you around your car collection because you got nothing else to do with your money. So the question is, is that you kind of align with that fact. It's not about the money. It's like, okay, well what are you going to do with all your time? I mean, the grandkids don't want to hang out with you too much. It's nice to visit. You know, the kids are going, okay, I'll be over for dinner on Sunday kind of thing. You know, it's like, what are you going to do with your time? You can only go to Italy so many times. Then you're going, okay, you know, how long can you spend in Italy wandering around? And then you go, okay, a couple weeks later you go, I want to get home. Right? So that's, that's my view of it. What is your view of it?
- [32:55]
Joe Narelli
That's, that's funny you mentioned that because 1, 2, 3, 4. Four guys that I've had close relationships, business wise for the last 30 years all hit in the 60s and you know, we all hit at the same time. All four of them retired and now work for me from their Raytheons and their Lockheeds of the world. Because, you know, you go home and after those first two weeks it's like, what do you do? You can only play so much golf and you really don't want to do that many chores. Okay. In Florida in the summertime, you don't want to be outside digging ditches or putting in a new sprinkler system. So they've all come back to work and they come to work for me because they can work six, eight hours a day if they want. And you know, they help build a business and they, you know, they make some money and they have a great time. But I looked at it this way. I play, I must play 10 or 12 charity golf events a year. Yeah, we travel and I still get, I still work and people say, well, why don't you retire? So Well, I go everywhere and I do everything I want anyway. Okay, I Don't miss an event. So by retiring, I mean I don't have any more events to do. I do law. So what am I going to do with those days where supposedly retire? Said I'd rather work, I'd rather work, keep busy, talking to people and et cetera. And then like tomorrow afternoon, I'll be heading to Greenville, Mississippi for a charity golf event in. In Mississippi. Thursday night, Friday, Saturday, be back Sunday, back to work on Monday.
- [34:43]
Patrick Francie
Yeah, I don't remember. Do you have, you have. Do you have your own plane? I seem to think you do, but I'm not sure about that.
- [34:49]
Joe Narelli
Yeah, yeah, there's actually this too. Yeah.
- [34:52]
Patrick Francie
Yeah.
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Joe Narelli
Okay.
- [34:53]
Patrick Francie
Yeah. Okay. Just a small detail. Okay. Yeah. It's so inconvenient. Okay, I got it. Yeah, I got it. So.
- [34:59]
Joe Narelli
Well, that, that does help because you do, you do get around pretty. I mean, pretty quickly. I mean, yeah, you utilize your time. I mean, it's an hour and a half to, you know, hour and change to the real airport. You know, it's 15 minutes in the executive airport. There's no lines. You move quickly. You certainly can utilize your time and hours and get more things done. Yeah. You know, so you can. I'm able to do all these things because the fact that we have, you know, and business wise, too. So if I have to be in national for a show or be in LA for something, I mean, you don't need to stop in Dallas and, you know, and accidentally your. Your luggage ends up in Vancouver or something like that.
- [35:43]
Patrick Francie
Yeah, yeah, yeah. So, you know, I guess it really, in this case, when you think about retirement, you could say you've retired. You just define retirement the way you define it, which is to say my retirement is I do what I want when I want to do it, where I want to do it, and I go to the office when I want to do that too. So that's just your definition of retirement, really. I mean, you're living the life that you envision. I had a guest once describe to me, I don't very often ask the question of how do you define success? But he was one of those guests that for some reason I asked him that question. And ultimately the answer that he gave me was, I define success as when I wake up in the morning and I ask myself, am I living the vision that I want for my life? And the answer is, yes, whatever that vision is in that given period of time, then I consider myself successful. And I went, that's a good definition of success. I think you could pretty much nail that. And when you consider the life that you've created and the life that you're now living. Yeah, that pretty much sums it up.
- [36:47]
Joe Narelli
No, it's. To me, there was me. It's, it's summed up as my life is better than your best vacation. Yeah, that's the, you know, that's the way you, you look at it. I, I live a vacation. I mean, it's, you know, it's just we're very fortunate. We've done really well and there's always ups and downs and even, even today, you know, you always run into issues. You don't run the size business or multiple companies like this without running into day to day issues. Of course, you know, the way you handle them these days are totally different than you did 30 years ago. 20, 30 years ago, it was more life or death, that if you didn't fix it, it could be the end. Now you're, you're a little more, you're calmer. Okay. You wait for all the information to come in before you jump to a conclusion or jump to do something. You're, you're, you just wait, wait for everything to process before you just come snap out an answer on something. Yeah. And you work through it. It will always be better. The sun will rise tomorrow, family's healthy. Yeah. That's all that matters. You'll be fine.
- [38:01]
Patrick Francie
So now for you, Joe, when we look at, and you got a team of people and you've got management staff and all the rest of it, and you look but for yourself, obviously you got some very strong leadership skills. And when you consider, you know, your journey over the years, was that leadership, you just figured shit out or did you actually study leadership? Did you read about great leaders? Did you reflect and look in the mirror and go, I need to be better? How was it in your own evolution as the owner of the business and as a leader of your teams, were you pretty conscious of being a great leader? Was it something that was intentional or just how you operate?
- [38:49]
Joe Narelli
I think mostly I took the position that, you know, when we were small, when we were a smaller company, that we were a team. Okay. And even though it was a dictatorship, it was still, you know, we're all peers and even to this day, nobody has a title. There's no titles, there's no true job descriptions where you can say, that's not my job, or, you know, I'm an executive vp, blah, blah, blah. Yeah, nobody's really. We try not to put anybody higher than somebody else.
- [39:22]
Patrick Francie
Yeah.
- [39:22]
Joe Narelli
So you know, the example, you know, the example is, okay, I may not no longer be the first person in the office, but I will be here on weekends. I will, you know, I, I still test product, I still inspect product, I still design stuff. I'm still out on the floor. I mean, you know, people see that I'm still doing things. And over the last 20 or 30 years, I was constantly out on the floor. There were products that weren't allowed out of the building unless I was the last one to touch it. And so I would be here late at night, you know. And so I think it just came natural because of the sense of responsibility of what we were building, that you don't want something to go in a jet and then you hear the jet goes down and you wonder, was that you? So, you know, I took a lot of the pride and responsibility to make sure that those things and now my son and son in law are pretty much the ones that make sure that everything. And I've instilled it in them that it has to be right, it has to be perfect. And I think that kind of, kind of showed people that not that I was just one of them, but that I wasn't above them per se. And realistically, you know, this success, you know, defining success or defining wealth, I mean, I, you know, how do you define wealth when you, you know, is a million isn't what it was 20 years ago, 30 years ago? I mean, when you and I were 30 or whatever, we all said, oh, I want to be, I want to make a million by time I'm 40 and I can retire. Yeah, that wouldn't have happened. You could have made the million, but you weren't retiring at 40 on a million. So what is today's, you know, millionaire or, you know, you know, worth, you know, what does it take to retire in the lifestyle that you're in, you know?
- [41:19]
Patrick Francie
Yeah, well, it's funny you say that. You know, the podcast, of course, title is the Everyday Millionaire, but you know, and that and the podcast, just eight years old. But even only eight years ago, the Everyday Millionaire still made sense, you know, as a title and something that people aspired to. And now I think people still aspire to being, you know, and being having a net worth of a million dollars. But it certainly is not what it was even as little as eight years ago. You know, the past four or five years, certainly since the pandemic has totally changed the meaning of money. When you consider how much money printing has gone on by central banks. It just watered down everything. I could put, you know, Somebody actually sent me a message and go, hey Patrick, I own the name Everyday Trillionaire. Do you want to buy it from me? And I'm going, well, it almost makes sense. More sense if we were from Zimbabwe, perhaps. But anyways, the point is, is, you know, it is really an interesting phenomena that's happened. I love the fact that, you know, as you said, you work the floor. I used to say to my team, you know, there's nothing that I'm asking you to do that I haven't done myself and, or am still not willing to do myself if I need to. And you know, so I've never been above that. All of the journey to get to where we are today meant that at some point in time I was doing exactly what you're doing and I'm asking you to do so. Don't bitch about it, you know, don't complain me about it. And including cleaning toilets. So, you know, there is that part of it. I love the culture, you know, where that to me is a very, I think a more advanced way of thinking where there isn't a hierarchy per se, where people don't have job descriptions. You know, you could have the same title, same job description, get shit done. You know, that, that really is. At the end of the day, there's the client, that's what he needs. We need to get shit done and we want to have a system. We want to be efficient, we want to be effective, we want to be responsible, we want to be accountable. Because what we're building matters and it not only matters to our client, but it matters to the lives of people who are in, you know, in your case, high performance jets or airplanes or weaponry of some sort, you know, radar equipment. That shit matters, you know, when you're in a high stakes game like they're playing. So I think that's quite fascinating. I love the fact that that's kind of the benchmark and the culture that you created and, and you've got a couple of key people for sure or more that are buying into that and are carrying on that kind of legacy based on what you built. I think that's phenomenal. It's really fascinating thought process. Anything you wanted to add to that, Joe?
- [44:14]
Joe Narelli
No, I think that, you know, you just kind of, you grow with, you grow with the company, you grow in life, you know, and you get a lot of personalities that are around you and you know, do, do 120 people adapt to you? Do you adapt to 120 people? It's really hard, you know, in today's culture, you know, it's, it's changed also. You know, years ago, you know, everybody had to worry about the boss. Now the boss has to worry about everybody because everybody has different feelings or different issues and things like that. You just can't yell at people anymore, you know, so it's, you know, things have changed over the last eight years, 10 years. But you know, you have to, even old dogs like us, we have to change and at least adjust to what's going on.
- [45:05]
Patrick Francie
You know, not everybody's built, not everybody's built. To be an entrepreneur or be a business owner, it takes a certain certainly tenacity and view of the world. I don't know about you, but for me, I often think everybody should be self employed. Everybody should be an entrepreneur, solopreneur, business own.
- [45:23]
Joe Narelli
Have any workers?
- [45:26]
Patrick Francie
Well, they could be contractors. They could be contractors within the bigger.
- [45:31]
Joe Narelli
Picture, you know, structure.
- [45:33]
Patrick Francie
They do.
- [45:34]
Joe Narelli
The majority of people need structure.
- [45:37]
Patrick Francie
Yes.
- [45:38]
Joe Narelli
You know, they, they need that structure and they need that time off. They need their nine to five, okay. Because they have lives, okay. People that are driven, okay. By whatever means. All right. Can't live in a structure. No. Just can't. Okay. It's too confining. It just really is. I mean, have you ever woken up in the middle of the night at 3 o'clock in the morning, said, oh, I got this idea, I better write it down before I forget it in the morning and I'll send myself a text message or an email so that I don't forget it. So it's, you know, people, most people need to live in the structure.
- [46:14]
Patrick Francie
Yeah, I send myself texts all of the time. All of the time I'm putting notes to myself in my text and sending them to me. When you look at the, you know, again, when you look at the legacy, you know, you've got people to carry on. When you consider the life that you're creating for yourself and you look at your journey, if you reflect back on your journey, were there times where you felt, okay, I'm not going to make it, like, I'm not going to get past this hill. Have you ever had any real, and I mean, maybe even call it, had some real close calls where you went, holy, I'm not going to make payroll, that kind of stuff?
- [46:51]
Joe Narelli
Oh yeah, no, there are, there are many times, there are many times that you scramble to, to make payroll. You know, you go back to the dot com bubble. All right, when things went bad, then, you know, the 0809, you know, a crisis, you Know, they, you know, they, they always hit everybody, you know, no matter what business you're in. Yeah, no, there are, you know, there is always, I always remember the days where the mistakes I made, you know, the mistakes or the mistakes that I've made always seem to be right at the time when all hell breaks loose and everything goes downhill. So that's kind of compounds, you know, the, the mistakes of making a bad investment or following a bad program or project. And then just as the project or program is going downhill, 2000, the dot com hits or the 0809 financial crisis hits and the next thing you know, that's compounding everything and you're scrambling to make payroll. There are plenty of times where I haven't taken paychecks or the family hasn't taken paychecks for weeks. I mean, you know, it's, you know, you get a, in the, in the States, you get a Social Security statement every, every year that actually in my case will tell me all my earnings from 1974 to today, you know, to the, to 2023, my yearly earnings.
- [48:25]
Patrick Francie
Yeah.
- [48:25]
Joe Narelli
And it's interesting to go look through the progression of, of how much you made, you know, over the years. And you can, you can find, you know, since I was self employed also you can find those down points in what I paid myself, you know, at those points. So, you know, over time. So. And I look at it, you know, every once in a while I'll go online and look at it just to remind myself that it always, it wasn't always. I made more money this year than I did last year. I have a, you know, which, you know, a regular employee, all my employees did, but I did. So it's kind of, you do have to look back and reflect on those mistakes you made and those moments where you're at the edge of the cliff looking down, saying, oh boy, you know, one more step and things are, things are all done.
- [49:16]
Patrick Francie
Yeah, it is. Yes. I've been on that many times over the years. And you sometimes wonder and I go in a moment I go, gosh, it'd be easier to just sell it all for a dollar and go work for somebody else. And then that lasts about six minutes. And then I go, there's no way in hell it would be easier to go work for somebody else. I'll figure this out on my own. And I carry on to do that. My own observation for me is that often the challenges I've both created and face, because I do take responsibility for the challenges that show up in my life Where I can see, you know, decisions I made or decisions I didn't make, you know, which is still a decision. Paths I took and I go, okay, not ideal, but I often also reflect and say, I came out of it and I came through it better for it, smarter, stronger, perhaps. Have you found that for yourself, Joe, is that, you know, these things we call mistakes have been generally pretty good lessons that you carry forward with you, or what's your experience been?
- [50:27]
Joe Narelli
You know, it is that, you know, when you make a mistake, you got. You got to move past it quickly.
- [50:34]
Patrick Francie
Yeah.
- [50:35]
Joe Narelli
And what I try and tell people is you can't. You can't let it affect your next move. All right? You know, whether it's business or life or whatever, I mean, you know, you made a mistake, and then you can't be gun shy, take the next chance. Or you can't say, hey, you know, my gut was wrong on the last one. Maybe my gut's wrong on this one also. And that's where, you know, sometimes you have to be fearless. And it's tough to be fearless without being stupid. Okay, There, you know, it's a really difficult. You know, it's a really difficult line. You just can't charge into everything while you can't be afraid to take that next chance after you've made some mistakes or things have gone sour. And I think that's. You look at that, you live with it for an hour, and then you move on. Just like if you made a bad stock trade, okay, you lost your money, it's over. You can cry all you want about it. You lost your, you know, you lost a hundred thousand dollars on a stock trade. Does that mean you're not going to make another stock trade? In life, if you start thinking like that, then you're done. You're. You're really done. Should, you know, then you should have been in the business anyway, of trading stocks, so letting go, you know, so it's really. I look at it and it's the same thing with any mistake. You know, car, kid wrecks a car, all right, you lambast them for an hour or two, you ground them maybe, and then you're done. It's over with. I don't even remember. You can't move on, and so do that. So I try. And the mistakes do.
- [52:14]
Patrick Francie
I.
- [52:15]
Joe Narelli
Am I. Are they in the back of my mind? Yeah. But they. They don't. I try not to let them influence my next decision.
- [52:22]
Patrick Francie
You know, there's a part of it, you know, I want to just go back a little Bit. You know, when we talk about legacy retirement and understanding and maybe your friends that you were referring to that, you know, retired and came back to work and you know, they certainly didn't do for the money, they do it because it gives them purpose and a reason to get out of bed in the morning. But I think there's also a part of that which is I'm seeing more and I think it's just because of my age that I'm talking to people and listening and hearing differently, is that there is a fundamental loss of identity when you leave a job, leave a career, leave a business. You know, all of a sudden who are you if you're not that? And I don't want to minimize, I don't think anybody should minimize that because that identity that we have attached to something, it's real for us. And I think that if you don't do some, if somebody doesn't plan for that and realize that is, and I think we hear a lot of stories about men, maybe women, but you know, I, I can't speak to that as clearly as I can with men that I've known. And that is, is that when they get excited about retirement, they leave their jobs or their careers or they sell their business and then it's like, okay, now what, who am I if I'm not that? It's a, it is a loss of identity. Any, any thoughts, any wisdom on that?
- [53:53]
Joe Narelli
Well, it's interesting. I, I, you know, a son, I have another son in law that was big baseball fan, played a little in the minor leagues and really good golfer and we're, you know, I'm into, I'm into music and rock and roll and etc. And he asked me one day and we're on the first tee or whatever, he says, would you rather be a Hall of Fame shortstop for the New York Yankees or a rock and roll star? I said, hunter, I says, to be honest with you, I could still be a rock and roll star at my age. It can't be shortstop for the Yankees, you know, so, you know, the, the identity goes. Like you said, the identity goes sometimes with the job. I mean, Derek Jeter, cheater, right? But he's not a shortstop for the Yankees anymore. What is, you know, what is he. Yeah, you know, you know, and athletes probably have the biggest issues when they retire because that's what they want, right? You know, and same thing for us that have done things for the same, done the same thing for many years now. I wonder about the next generation of people that are really job that they. Job hop or you know, a career hop. They don't have that longevity. Maybe they don't have that association, you know, with, you know, with. Maybe they won't have that issue of an identity crisis.
- [55:15]
Patrick Francie
Makes a great point.
- [55:17]
Joe Narelli
I had 10 jobs in 50 years. What am I? You know, I'm just a guy. So, you know, I don't have that crisis. I can retire, smoke my cigars and take, take some time on the Florida Keys.
- [55:29]
Patrick Francie
No, that's a good point.
- [55:30]
Joe Narelli
You know, where we sit there and say that's all we've done all our lives.
- [55:33]
Patrick Francie
Yeah, that's a good point. Now you bring up rock and roll. You've got a project that you're working on with Alice Cooper is my understanding. Do you want to talk about that a little bit?
- [55:45]
Joe Narelli
Yeah. Alice and I are pretty good friends. We play a lot of golf together. We met about 11 years ago in Canada, in Ottawa, matter of fact, the airport in Ottawa. And he's got multiple teen centers in, in Arizona and Solid Rock. Teen centers are these facilities where kids cost, no cost, okay, can come in and they learn how to play instruments, sing, use the boards for sound and everything like that. Art, dance. Cheryl, Alice's wife, will teach dance. And he's opened a few of these. Matter of fact, we're co oping a third one with them in Goodyear, Arizona. And one night we're all out to dinner talking about today's music. Not insulting a lot of people right now, but today's music just isn't the same as when, when we were younger. So we thought about it and we said, well, how do we bring true rock and roll back to, back to children, back to kids of any age. And so we decided to, to do a, a children's album or teen album. You know, it's, it's something that we've worked on for almost two years now. It's rockforchildren.org org and we just released our first song off the album a couple weeks ago. The next one will be released Friday. The album will come out in August. All proceeds go to charity. And Alice is featured on five songs, I believe.
- [57:28]
Patrick Francie
Wow.
- [57:28]
Joe Narelli
Six. Rob Halford from Judas Priest is on one. Daryl McDaniel from Run DMC, we got to do one. Steve Azar from Mississippi, he's on one. And then we basically did it with kids from the teen center doing the, doing the instruments and doing the backup vocals. So it was a fun project. We may do a second one, see how this one turns out. And we're Actually cutting vinyl, there'll be a certain amount of vinyls actually printed. Go online and get it. And it's a, it's pretty neat. It was a lot of fun doing the project, watching the kids play guitar and we have a 12 year old drummer that's rocks away on all the, on all the songs. So it was, it's an interesting, it's an interesting concept and an interesting project.
- [58:19]
Patrick Francie
Well, what a, what a great cause too. You know, you go back to what we've been talking about along the way, which is, you know, it's one thing, identity, it's another is that when you get to that kind of place in your career and maybe you have the background, you know, like a you or an Alice Cooper, where you get to be a contribution, where you get to really take all of the years of hard work that you've done and all the things that you've learned and part of the money you've made and you get to give back to and be a contribution. And of course, when it comes to kids, you know, there just doesn't seem to be enough of that in terms of resources for most parents. So when you open up those doors to those possibilities and music's such a big part of any culture, if you can nurture that along and be the cause of some young teenager going on a journey of creativity and music, I mean, that's a pretty big win. So, yeah, I see it. That's a really, really cool project. And I'm sure that hanging out with Alice is pretty fun and he probably knows some pretty cool people too, so. Opens up all sorts of doors.
- [59:25]
Joe Narelli
You get a lot of good stories. It's. He's actually, he's actually a pretty, a pretty neat guy. He's a, he's very, he's a big Christian now. He gave up all the liquor and the, and the hard stuff 40 something years ago. Plays golf every morning. So, you know, and that's why we were in Hawaii together. I thought I shot a pretty good round. Shot a 77. Alice is 76 at the time and he shot 70. So that'll humble anybody when 76 years old. Shoot 70.
- [60:01]
Patrick Francie
Wow, that is so awesome. Now as we start to wind down, I do want to ask you, now you have nowhere else to put your money. So you buy cars now. You, you've got a number of cars and have you had a couple of prides in joy that you want to share about?
- [60:17]
Joe Narelli
The number's 40, in case you were looking for the number.
- [60:22]
Patrick Francie
Only 40. Okay. And give me Kind of a lowdown. Are these supercars, are they classics? Are they a combination, all of those things. I want to say that there's a couple of Ferraris in there somewhere, but.
- [60:36]
Joe Narelli
There'S eight Corvettes and there's special edition Corvettes for each child's birth year. Okay. So. And, and there's five Mustangs. There's. And there's old Chevelles 272, 1970 Chevelle big blocks. One a convertible, one a hard top.
- [60:56]
Patrick Francie
Okay, so some classics.
- [60:58]
Joe Narelli
67. 67 Firebird convertible.
- [61:02]
Patrick Francie
Yeah.
- [61:03]
Joe Narelli
There's some newer ones. There's some newer ones. I have a. The wife has a 2020 Charger Hellcat Special Edition. I have a 2020 Challenger Special Edition. So we have some newer ones. There's some specialty or novelty cars. There's a fire chief car because when before COVID we would take. I had a 64 Galaxy 500 that was like a set up, like a fire chief car with the bubble and the whole nine yards and the radio. I had a. I have a 2010 Camaro pace car which was one of one. Wow. And I have. And I have a 1996 IROC Z car that was actually. Was one of the cars used during the Iraq Z series. And we would bring them out to children's events, autistic children and etc, give them rides, fire them up and you know, and you know, pretty much it was great. You know, the. This one group would do these like Piewood derby car, you know, these soapbox derby cars and have these kids race down.
- [62:09]
Patrick Francie
Yeah, yeah.
- [62:10]
Joe Narelli
Big tracks. And then we'd have the cars and so we used to do a lot of that. So we have some novelty cars and then. Yeah, we have a 2011458 Ferrari 2013 California 2019 Lusso GTC, a 2023 Portofino M. And then I've got four more on order stretched out over the years, in the years coming. So there's a. And. But we have our own shop area where we're doing. We're repainting or actually stripped down and rebuilding a 69 goat. A judge. Pontiac Judge.
- [62:50]
Patrick Francie
Nice, nice.
- [62:51]
Joe Narelli
So all original. So there's a lot of that. Got a couple of jeeps and you know, it's good for you. It became an obsession, you know, and stacking them up became, you know, you have to have the, you know, the, you know, you have to be able to stack them so they, they fit.
- [63:10]
Patrick Francie
Yeah. So you don't take up so much room. So you. And so maybe you and Jay Leno can hang out together and share garage space or something.
- [63:18]
Joe Narelli
Yeah, we have a, like a 15,000 square foot facility that, that we utilize as an event center and where we, we stack the cars and bring the cars out during the events. We hold an annual Christmas party and other fundraising events there. We'll bring in music and et cetera.
- [63:37]
Patrick Francie
That is so awesome. Now, Joe, as we wind down and like to try and leave listeners with a couple of things, if you got it. You know, is there a fundamental philosophy that you go by in life? Is there something that you would draw on when, you know, you're questioning something or you're trying to make a decision? Do you have any of those kind of. I don't know, I call it a mantra, but it could be just a philosophy for life. Anything that you would share in that regard.
- [64:06]
Joe Narelli
It goes back to, you know, don't be afraid of failure. Right? It really, you know, I think that's what a lot of people, you know, they grow up, you know, you know, don't, don't jump off of that or don't, you know, as you're a little kid, don't do this, don't do that. You know, don't be afraid of failure. I mean, fail away, you know, take it, take your shot, okay, but you know, do your research. Take your shot. Don't be afraid of failing. And if you fail, all right, maybe analyze it, okay? What did you do wrong? It's not necessarily that you were an idiot or you didn't know what you were doing. I mean, don't. Just don't fear, don't fear failure and don't fear trying again. Don't fear debt. I mean, you know, that was the other thing I taught my kids in those words. Don't use, don't use your own money if you don't have to. Now don't go spending money on credit cards. I mean, that's ridiculous, you know, but if you can go off and, and get cheap money, you know, don't spend your own money. Go get that cheap money, okay? Because you'll learn, you'll learn to, you will learn to live with those 500amonth payments. If you went out and bought yourself a piece of equipment to start machining stuff, you know, start machining your own stuff, you know, your own business. Don't, don't fear buying a piece of real estate that you can rent out, okay, because you have to go into debt for it. I mean, that's the biggest thing. I think people get concerned that, oh, we owe money, but there's smart money. If your smart money is attached to an asset or an income producing, go for it. If it's attached to a new TV or an Xbox game, that's not it.
- [65:48]
Patrick Francie
Well, you know, we joke about your cars, but at the end of the day, those are in fact appreciating assets. Although they're not driving revenue, they are appreciating. And depending on what year you're in, you've had some good runs in asset appreciation of collectors cars.
- [66:05]
Joe Narelli
The Chevelles have done really well, there's no doubt. The Chevelles I think I bought in the low 40s and they're in the 80s or 90s now.
- [66:14]
Patrick Francie
Yeah, yeah.
- [66:15]
Joe Narelli
I mean people, there's certain people in your family that'll tell me I should have bought bitcoin or gold, but to be honest with you, they're not Bitcoin and gold is not as much fun as 1970.
- [66:27]
Patrick Francie
Yeah, you can't drive a bitcoin in a parade. You really can't. Joe in those words I will say thank you for joining me on the Everyday Millionaire podcast. Thanks for sharing some of your journey, some of your story and the insights have been very, very interesting and happy to get to know you. And thanks for your time.
- [66:48]
Joe Narelli
Patrick say hi to Stephanie and everybody for me. I appreciate it.
- [66:52]
Patrick Francie
I will. Thanks man. Ladies and gentlemen, thank you for listening. If you found value in the podcast, please take the time to rate and review and share with others. Share with your friends as it is my goal to always improve and to provide the highest value for you, the listener. If you have any comments, suggestions or questions you'd like answered, please email me at cell@raincanada.com. that's C E O at R E I N Canada. Com. I look forward to hearing from you and until next time. Patrick oh.