On this episode of the Profit Roadmap, we’re talking with Marvin Salcido the owner of Salcido Home Solutions, a motivational speaker and coach, Biggest Badass winner, one of the Inc 5000 Fastest Growing Private Businesses, part of the Forbes Business Council, owner of several businesses, and so much more. He’s also a long-time Service Autopilot Member.
We cover some great topics, including:
- How to invest in yourself and your business
- The secret to mergers and acquisitions
- How to level up through “buying time”
- Secrets to having a great conference experience
Marvin, what is your background?
So I’m a first-generation business owner. My primary business is a landscaping company. I started it over seven years ago. Before that, I was a majority shareholder in another multimillion-dollar landscape company, but me and my business partner weren’t really seeing eye to eye. And it was best for me and my company and my family for me to walk away and start over. And so that’s what I did. I walked away.
And in the last seven years, I’ve built that company from nothing to a little over $5 million in sales last year. Beyond that, we have been named on the Inc 5000 fastest-growing privately held companies in America list the last two years in a row. About a year and a half ago, I went out and bought a mechanic shop.
We did about a million in sales last year with the mechanic shop. And then about eight months ago, we took over a hot rod restoration company called Rodfathers Customs. And we restored classic hot rods from the ground up. I’ve also got a small real estate company. And I do some business coaching on work with about 22 or 23 different companies.
And then about a month and a half ago, we actually rebranded our landscape company to what it is today. It’s now Salcido Home Solutions, and in addition to all the lawn and landscaping, we now also offer house cleaning, garage door repair and installation, home remodeling, and HVAC services.
SEC23 is coming up! What has your experience been like with the Service Edge Conference?
In every one of the Service Edge Conferences that I’ve been to, I’ve never failed to come away with something that not only pays for my conference but allows me to go back and increase my revenue or increase my efficiency. I always come away with some sort of nugget to implement in my business and make a ton of money.
But the thing is, you gotta just go, gotta pay attention, take some notes, and you’lll find some nuggets too.
My favorite part is that I can get together with other business owners, people that I haven’t seen in a year. I love talking to these people because a lot of times there are some really great ideas that come just from those conversations.
But even if you don’t know anybody at these events, I’d encourage you to get out there and meet some new people. Let’s face it, it’s lonely being a business owner!
And when you can get around other people who are like-minded, it helps not only expand your mind, but you can build relationships with people that you can rely on throughout the year. And when you are struggling, you can call them up and say, “Hey man, I’m struggling. I need somebody to talk to right now.” And you can just blow off some steam. But if you don’t build those relationships, it’s so easy to feel isolated and alone.
What about if someone is new to service industries?
Even if you’re a new business owner or new to a specific service industry I would encourage you to get in there, and gather some knowledge.
Everybody that I coach, I encourage them to at the bare minimum, to once a year go to a conference. But especially the bigger you get, once a quarter, get out there, get away, and get some knowledge because when I go to these conferences, I find information that’s going to come back that I’m going to take back with me and that’s going to make me $10,000, $50,000, $100,000. I gathered a nugget from a little mini conference last year that netted me a million dollars last year.
When you go to events, do you bring your team?
So if you’re able to, bring some or all of your team, or at least some of your higher level people in the company. These events will help expand their mind, and to be honest, it is so easy to get lost in the weeds. They’re stuck in the day-to-day grind, they’re answering phone calls, and dealing with clients. They may not necessarily see the big vision of where you wanna go with the company.
I had somebody that I took with me to a couple of these conferences throughout the year. And after this last one that we went to, she came up to me and she said, “‘Okay, now I see what you’re doing.'” And it took several of these conferences for her to see where my end goal was. And then something clicked. And you know what? She’s on board. Come hell or high water, she’s there with me.
You were a Biggest Badass Winner, right?
I am the only one who has won first, second, and third place over the course of a few years.
I really wanted to show how I had grown. Not just as a business owner, or the business itself, but me as a person too.
And when I was putting my videos together, of course, I have a crazy story, and if you’ve never heard it, I mean, I’d love to tell you sometime. But just how, the hurdles that I had to go through in order to restart my business.
And then, we grew crazy fast and we continued to grow. We’re putting on pretty close to about a million a year right now in growth revenue. And as we add on these other services, I think it’s going to ramp that up even faster. I’m anticipating hitting $20 million in the next three years.
It’s a great time for you to brag about yourself, brag about your company, and just tell the other business owners what you’ve done. But ultimately it is about encouragement to those other business owners that are out there.
Because like I said before, it’s lonely out there, and sometimes you feel like you’re the only one going through your problems. But there are other people that are going through the same exact crap that I’m going through. And you know what? Here’s how they did it. And they made it through. Now look at them. And if they can do it, I can do it.
What will you be talking about when you take the stage at SEC23?
Yeah, I’m super excited. I’m going to be talking about mergers and acquisitions at SEC23. And oh man, I love it. In my lifetime, I’ve done about 24 buyouts and then I’ve also helped negotiate on behalf of others for quite a few more.
So I’ll tell you this, mergers and acquisitions are expensive because you are buying the most expensive commodity on earth, and that’s time. Because if you grow organically through traditional advertising (Google ads, Facebook ads, etc.), you are growing slowly and have no debt.
This is great, because it can really set you up as a very stable business, but it is slow. And you know what? I’m like Ricky Bobby, I wanna move fast.
The way that I look at it is if I can spend the money and I can buy years of somebody else’s time, then why not leapfrog myself forward in time?
I’m only gonna be here for so many years. I only have so much time on this Earth. And I want to build a legacy so that I can leave generational wealth behind.
And I know that there’s no way for me to do that, at least with the services that I’m offering. If I’m doing it slowly, yes, I’ll build a good business. Yes, I’ll build something that I can sell one day, but I won’t be able to leave generational wealth. I want to take care of my family, my kids, and my grandkids. And the only way I can do that is by moving forward fast, buying other people’s time.
That being said, there are a bunch of different strategies as far as why you’re buying a company. My biggest strategy is that I want that client list. I want that book of business, and I want to leap forward. Obviously, it’s great that it’s going to come with clientele. It’s going to come with employees. It’s going to come with management staff, all of that stuff that’s going to help me to move forward faster.
Learn More
Be sure to learn more about Marvin by connecting with him on Facebook or visiting Salcido Home Services.
And remember you can learn more about the Service Edge Conference and purchase tickets here.
Related: Inside Secrets to Success With Jonathan Pototschnik
The following music was used for this media project:
Music: Summon the Rawk by Kevin MacLeod
Free download: https://filmmusic.io/song/4434-summon-the-rawk
License (CC BY 4.0): https://filmmusic.io/standard-license
