Tax Lessons and Cash Versus Accrual

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Tommy Mello is a billionaire entrepreneur and founder of A1 Garage Door Service, which he started in 2007 with $50,000 in debt and transformed into North America's largest independently-owned garage door company, now operating in 19 states with over 700 employees and generating over $200 million in revenue. He is also a bestselling author of books including "Elevate" and "Home Service Millionaire," host of "The Home Service Expert" podcast (ranked in the top 0.1% of podcasts), and an Inc. Magazine columnist who shares strategies for scaling home service businesses. Mello had his first major exit in 2022 with nearly $30 million in EBITDA, distributed $100 million to employees from the transaction, and continues to focus on creating millionaires among his workforce while building toward his goal of reaching multiple billions in company valuation.

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➡️ Talking Points

00:00 – Intro

01:25 – Tommy Mello’s Origin Story

09:49 – Scaling From $20M to $500M

12:49 – You Can’t Out-Delegate Me

14:30 – A $100M Exit Gift

20:13 – Sponsor Break

22:57 – You’re Focused on the Wrong Things

25:27 – What Drives Him Now

29:54 – Fear After Winning Big

38:16 – Sponsor Break

40:46 – Taxes Every Founder Misses

45:40 – Why SaaS Is Chasing AI

48:48 – Hire Smarter Than Yourself

52:17 – Life vs Business

58:28 – When Business Becomes Identity

1:02:38 – The Lesson He’d Teach His Kids