HVAC Success Secrets: Revealed
Welcome to HVAC Success Secrets: Revealed, a podcast dedicated to revealing the success secrets to create and unleash the ultimate HVAC business.
HVAC Success Secrets: Revealed
EP: 227 Ismael Valdez w/ Nuve - How The Alarm Industry Will Transform Your Retention Rate In Your HVAC Business
Ismael Valdez Explores HVAC Innovation: Memberships, Monitoring, and Client Retention
Exciting News from the Latest Episode of HVAC Revealed!
We had an incredible conversation with Ismael Valdez, who shared his innovative insights and visionary approach to revolutionize the HVAC industry.
Key Takeaways:
- Innovative Business Model: Ismael introduces a game-changing business model that focuses on retaining clients through technology rather than continuously paying for replacement leads. By utilizing the Nuva app, contractors can capitalize on lifetime value and significantly cut down marketing spend!
- Tech-Infused Memberships: Combining traditional membership programs with advanced monitoring devices, like the Nuva thermostat, offers additional revenue streams and enhanced customer satisfaction. This approach integrates AI technology and water sensors to monitor and diagnose system issues efficiently.
- Mentorship and Leadership: Ismael emphasizes the importance of mentorship, learning from proven experts, and knowing when to delegate for the growth of your business. His journey from Nexgen to Nuva showcases the power of self-awareness and the value of surrounding yourself with a supportive peer group.
Ismael's passion and innovative thinking are truly inspiring. Tune in to this episode for an in-depth look at the future of HVAC, pioneering business models, and personal development insights straight from industry leaders!
How to Connect with Ismael:
On the web: nuvehome.com
Service Avengers (FB Group): facebook.com/groups/2410076959107415
Facebook: facebook.com/profile.php?id=100079009520931
IG: instagram.com/ismaelvaldezceo/
Contact and Feedback:
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Presented By On Purpose Media: https://www.onpurposemedia.ca/
For HVAC Internet Marketing reach out to us at info@onpurposemedia.ca or 888-428-0662
Sponsored By:
Chiirp: chiirp.com/hssr
Elite Call: elitecall.net
Service World Expo: serviceworldexpo.com
On Purpose Media: onpurposemedia.ca
We're going to show you that there's a different way to do memberships. It's not that they're dead, they just need an update. Why can't we monitor these devices and capitalize on it? It's not every time you walk into a house you're walking away with two, three, four, five thousand dollars. Most of these memberships are just changing filters and cleaning units. All I'm saying is, maybe monitoring is not the answer, maybe membership's not the answer. But there is a different way to do things.
Evan Hoffman:Hey, welcome back to another HVAC Success Secrets Revealed with Thaddeus and Evan. We have good conversations, good people, and any good conversation worth having is worth having drunk. Although today, we're keeping it sober. We're keeping it 100. I'm excited for this episode with Mr. Ish, No stranger to the show. We've had him on a couple of times both when he was still running NextGen and right after he had sold, he popped on while we were at a live event and that's when he was just getting started with Nuve and what he's got going on there. But he's coming on today to, to tell us all about the exciting announcements with it. We're also going to dive into some cool topics around health and making sure you're taking care of yourself cause if you're not doing that, then what the fuck's the point of running a business? Cause you're going to be gone by the time it's ready to exit. I'm excited to dive into that part of it too. And mentorship and the roles of all the important people that you have in your life and the impact that they can have on business and life and whole life is success. So I'm jacked up for today's show. How about you, bud?
Thaddeus Tondu:No I'm super excited. I know that the passion and the fire that the man brings is second to none in terms of the energy and the impact and looking forward to unpack some of the the keys to that as well. But today's show would not be possible with. Out our sponsors and in no particular order on Purpose Media, Elite Call, Chiirp and Service World Expo. Let's kick it off with join us for the most magical contract experience at Service World Expo in Orlando, Florida from October 15th to 17th. So they've got keynotes keynotes, breakout sessions, four hour workshops, social mixers, and exhibit hall with industry leading products and podcasts like this one, we'll be there. Network with other residential contractors and hear from some amazing keynotes, all designed to help contractors like you elevate your business. Register now and use promo code secrets 100 for a hundred dollars off visit serviceworldexpo.com to register today and we will see you there.
Evan Hoffman:Giddy
Thaddeus Tondu:up.
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Evan Hoffman:Ish, what's going on, man?
Ismael Valdez:Good, man. Big ups to you guys on all those sponsors you guys got, man. Honestly it's your it's your dedication to this podcast and the trades that got you all these guys to trust you guys with their names on this podcast. So big ups to you guys, man.
Thaddeus Tondu:Appreciate it. Thank you so much. it's actually funny because like you look at people with podcasts and I'll toot our own horn for your second, I was chatting with a buddy the other day while hiking. He's yeah, I had a buddy that, started a podcast. He's hit one episode, but the average podcast lasts like 10, 12 episodes, like one season, that's it.
Ismael Valdez:See, there's a lot of podcasts out there, man, that I'm like, they start off with one or two or three episodes and then they just fade away. So that's why I'm like. That's why I'm saying big ups to you guys, because you guys have been so consistent for how long have you had this podcast going
Evan Hoffman:Going on four years, this fall.
Ismael Valdez:Exactly four years on a podcast and you guys keep doing it, week by week, month by month. So it's pretty dope to see you guys do it and before we start, I want to apologize for last time that I was in the middle of an airport. I was supposed to be on a podcast with you guys and, my assistant miscommunicated some time, so I want to apologize to you guys because I hate when I, number one, make people wait and number two, when I don't show up on time or I don't show up on meetings because it makes me look like a, like I'm immature.
Thaddeus Tondu:Appreciate the public acknowledgement and public apology. It's one of the tough things about, going live is just that, is the idea of that sometimes shit happens and you've got to just adapt and pivot and, we get it, right? So we also understand that, but I think that's also a good segue into any of some of the things that you guys are doing right now is a mentorship thing. And I think Probably one of the things in terms of mentorship is owning up to those sorts of things and be able to have that. But I always like to start off with this and I've had some people on Facebook actually not even in the HVAC space, in the digital marketing space are like what's the difference between a coach and what's the difference between a mentor? I think there's a, there's an impactful difference between that. So I guess in your opinion, what's the difference between a coach versus a mentor?
Ismael Valdez:I think a coach tells you what to do every day. So like a coach would be like a trainer. A coach would be like a. The guy showing you how to dribble the basketball, how to throw the pitch, that's a coach to me. A mentor is more the guy that gives you the visibility into the path that you're going to. That the coach doesn't see because he's inside, every day, grinding it out with you every day, training, practicing, making sure you're eating well, making sure you're working out all that. That's a coach to me, a mentor works on more of the spiritual the mental, the visual that you don't see that he sees in you. So I think I consider more, most like most people in the industry are coaches, but they could, they think they're mentors. I think a mentor has a little bit more value than a coach, just because. They see the three, five year, 10, 10 year plan. When the coach is more stuck in the now we've got to work on today, we've got to work on getting better. that's my opinion on between a coach and a mentor.
Evan Hoffman:No, it makes sense and a mentor is someone that's been there and they've done it before. So they're able to paint that picture. Like you said, that three, five year roadmap and when I look at some of the people that you surrounded yourself with, you had Tom Howard come into your business when you were running next gen at 30 million and you were making no money and showing you what a P and L statement was and helping you become profitable and take that business to the next level. You've constantly surrounded yourself with some incredible people and now you're doing the same thing again, even now, elevating your game even higher with Tommy and Travis and Chris Yano and who else in that group?
Ismael Valdez:Those guys are all good dudes, man.
Evan Hoffman:Yeah. It's powerhouses in the home service space and now you guys are trying to get back a little bit too. But that's a little teaser. We'll save that for a little bit later. But now you, so you've you were running next gen, crushed it there, exited the business. now you've hopped over into Nuve you started to play around with it. It was what, two years ago, three years ago, when the concept started to.
Ismael Valdez:Two and a half years ago was the concept and we just went live last week. I think we onboarded a little bit over a hundred contractors already and then last week and a half, two weeks. So It's been pretty, pretty hectic around here at Nuve, even though it's a, a little 3, 000 square foot shop, it's been pretty hectic to see all these people coming in and out and all the meetings that we've been doing. So yeah, Nuve is the next venture for sure.
Evan Hoffman:And so for people who have no idea what it is it's a thermostat, right? What's the difference? What's the big deal? Why would I install this over just a nest or any of the other thermostats that we got? What is it that makes this special?
Ismael Valdez:So I'll go through, I'll go through some of the presentation that we get people on boarded because I get thousands of, I get thousands of questions asked for me. Hey, what is Nuve? What do you like? What is the one thing that differentiates yourself everything else? Nuve is a thermostat that's disguised as Nuve is a lead generation source that's disguised as a thermostat. The original concept of it came from the alarm industry company. I don't know if I could share my screen with you guys, but can I share my screen with you guys or no?
Evan Hoffman:So I just, I, yeah, there's the present button down in the bottom there with the plus screen.
Ismael Valdez:Okay. Lemme see if lemme see if we can figure out. I'll have Lauren figure it out but so new is a lead generation source that is disguised as a thermostat and what differentiates us from every other thermostat. It's the first interactive thermostat that we're able to see that we're able to interact with the consumer back and forth we could do custom messaging for them, we can send out alerts for them. Most of these contractors are we're presenting them with four different options of monitoring on the thermostat. Our most popular bundle that everybody's been going with is the eNetworks package, which comes with a custom app and a custom a custom app for each contractor and a custom icon. Bly going to be the biggest game changer. That's probably going to be the biggest game changer for the trades, because it's everybody in the industry from, service time to chirp to everybody in the industry has been trying to get to the consumer phone. And I think new is going to be the first. The first tool in the trades that actually gets in there and we're going to be able to capitalize on it just by the marketing impact, the them downloading the app and having the icon, the customer icon inside their phone and being able to interact with that every day. Passing the hallways and being able to see the contractor logo those are little things that, that, that are going to differentiate that's going to differ from us to any other ones. Another one that that we're working, another feature that we're working is the auto start feature. For these contractors could basically filter out all these thermostats, right? Filter out all these thermostats by zip code, by age, by city, by whatever you want to do and they could start auto auto testing these units from their office. So we're going to run 15 minute tests on these thermostats. And we're looking for a two degree differential to either come up or down. If it satisfies that, then that means the system's running efficiently. It doesn't need a tune up or anything. If it doesn't, it would automatically generate an alert to the consumer, to their app and to the thermostat, as well as to the contractor where it synchronizes that call and all it does is, with a click of a button they could approve a technician to get to their house and fix it. And and get out there on time so that, so we can help them out.
Evan Hoffman:Is there a certain amount of time that the temperature variance is there?
Ismael Valdez:Yeah, we're going to be doing one, they're going to be doing two tests per year, one for the winter, one for the heating season. And it's going to be a two degree differential. So 15 minute cycles when it's testing on the thermostat, it's going to say testing active on the app. People are going to know. That the consumer, we're not catching the consumers off guard when we're testing these units.
Thaddeus Tondu:Love it.
Evan Hoffman:You did mention the security home systems, like that's where kind of the idea came from and I love the idea of being able to learn from other industries and be able to pull ideas from other industries into the home services space. So what was it about the home security system that you saw an opportunity for retention and something that was going to make an impact on the trades?
Ismael Valdez:So I got on the phone with the CEO of ADT. I got on the phone with the CEO of Alarm. com. I got on the phone with all these alarm companies. Bell Alarm, I think it was too. We got on the phone with them and the one thing that popped out to me with them is that I asked them, hey, what's your customer retention? Like overall since you guys started the company. They are retaining 94. 1% of their clients just by adding a monitor to a panel with a logo and their contact information And that's when it sparked to me that's when it was like, holy crap the best home service companies across the whole fucking nation across the whole nation We're talking Morris Jenkins service champions freaking next gen air conditioning a milestone. We're talking all those guys If they're retaining 8 to 10 percent of their overall clients, they are running a really smooth, solid, sticky operation and the biggest thing that that stood out to me by retaining that 94 percent on the alarm like ADT, spends little to no marketing money because they're able to retain 94 percent of the client. So when I was looking at my P& Ls, when I was looking at the financials from NexGen and other companies there's there's a couple of things that, that everybody spends a shit ton of money on. Ready? Number one, labor, right? Labor is one of the biggest Pies in your P& Ls that's eating up the profit. And obviously we're not going to replace humans they're not going to, AI is not going to come in here and replace toilets for us or replace an air conditioning for us or that. So the second most impactful thing that I saw in the P& Ls is marketing. Marketing is a huge spend across the board on every single company that we saw any, everybody's spending between four to 14%, maybe 15, 16%. And next year, and I think there was points that we're spending up to 18, 19, 20 percent of our total revenue being dumped back into marketing and once I saw that, I'm like, Oh my God. That's what they're doing right. The alarm companies are minimizing their marketing spend by putting these panels on everything and on everybody's house and telling everybody, Hey, we're the only ones that could work on this unit. The sensors only communicate with this panel. If you have any problem, you got to call us. And once I figured that out, I'm like, we got to do that for the home and for the for the AC industry. Why? Because imagine right now we're spending next year we're spending 1. 4 to 1. 5 million a month. And we're retaining less than 8 percent of our overall clients. Imagine if we retain 90, 95 percent of our clientele, what the impact they would do on the P& L, how much lower we could minimize the marketing because we're able to lead generate with a touch of a button, right? Hey, I want to hit every 10 year old unit in Huntington beach and with one filter where you can send it out on the dashboard and on their phone, on the thermostat, they're going to get an alert that's 100 percent open rate. You know why? Because nobody's going to ignore that thermostat if they see a notification, or when they're on their phone, it's going to look like a little text message icon. What are they going to do? Click on it and read it, right? What's the next thing that they're going to do? We made it so simple for them once they read the notification saying, Hey, water heater maintenance is due, or AC tune up is due, or your membership renewal is due, whatever messaging you want to come up with, there's a click to call button on the app, right? You listen to what I'm going to say because this is super impactful on the app, there's a phone number tracked by service time by whoever you, whatever CRM you're working on. They click on it, they call, and they get a service right away, or they approve it, and they dispatch a technician. Now, how many millions and millions of times do customers go to their thermostat to turn it on, it doesn't turn on, what's the first thing they do when it doesn't turn on? They go on Google, they go on Yelp, they go on whatever and look for a contractor, right? Some of these contractors, what they're not noticing is that you could have gone six months ago to replace an igniter or a circuit board or capacitor or whatever, right? And then they go to the thermostat. Something else is wrong. What's the first thing they're going to do? They're not going to save their number on your phone. Nobody saves the air conditioning number on their phone. You know what they do? They go back on Google. They put, they click on that stupid fucking paid ad again. they charge you again for that same fucking customer that you were just at their house six months ago. Now you've got to pay that Google again. Hey, I need, you guys were here six months ago to replace some parts and now it's not working again. So you're essentially paying it or paying over and over for that same client, right? that's on a good notice. Imagine if they don't remember your name, if you didn't have a big enough impact or they can't find the invoice or the email that you send them, all that, what are they gonna do? Go on Google and Yelp and now you lost that client, which is the most important thing that 10 year old unit They just invested 1, 500 on now they're gonna go to another client that got that contractor might come in and buy a new system they're gonna buy a new system for it. So that was the main thing It was like how do we retain more clients for their conditioning contractors? How do we capitalize on it? And then how do we make their operation more efficient? And that's where we came up with Nuvviz. Nuvviz is probably the first interactive device that we're going to be able to reduce labor, reduce warranty costs, reduce marketing, reduce increase the efficiency in the operation, right? So I can't wait for, six months from now, a year from now, where we can, share our screen. Hopefully Lauren does her job and we're able to stand in our screen, right? And I can show you live KPIs of Hey, look at this company. They've been on Nouver for six months and we were able to reduce their marketing by 2%, 5%, 20 percent because now that we captured and we retained the client now we got them for life. That's the one thing I can't wait for.
Thaddeus Tondu:Sounds almost like a membership or a maintenance agreement.
Ismael Valdez:Or a monitoring, right? Because this happens to us every single day at NextGen. This happens to every contractor at NextGen. This is the one thing that I'm excited about too. Customer calls in because they just went in their house. They turn off, they turn on their system. And they're like it's hot in here. You guys need to come out here. It's not working. What do we do? Send a fucking technician all the way to two, three hour drive to get there, to find out that they turned on their system five minutes ago. And that's why it's not pulling down the temperature. It's 90 degrees outside and they're just desperate and frustrated. You know what we could do on the Nuve app is pull up their account, click on their thermostat and they'll show you a usage graph of Hey, Mr. and Mrs. Smith, you just turned off the, you just turned on the thermostat seven minutes ago. That's why it's not pulling down the temperature. Give it about, an hour, 95 degrees outside. So give it a little bit of time. And then now we save the whole freaking truck row to the consumer. Now the consumer's not pissed off right now. We're showing up and saying you just turned it on 15 minutes ago or five minutes ago. How do you expect it to pull down 20 degrees? It's 95, but we already sent the technician. The technician's pissed off because he could have been running an opportunity car. He could have been, capitalizing on something and making money. So that's the one thing that, that's gonna help the operators to being able to be like, Hey, Mr. and Mrs. Smith, we just saw that your thermostat got turned on seven minutes ago. It's 95 degrees outside. Give it a little bit of time. If it continues, we'll keep monitoring your thermostat and making sure it gets to your set point. Cool. Done. Now you got a satisfied client and now you got a technician open, ready to run another call.
Evan Hoffman:Love it. Is there going to be a monitor fee for contractors to
Ismael Valdez:Yeah, there's going to be four different bundles that we're offering the contractors. It goes we've literally named it Nuven, N minus U plus B squared or the E networks. There's four different size packages that they could buy. Depending on the features, it goes from 495 to 19. 95 a month. And then it depending on the quantity of thermostats that they're buying, we're giving them a volume discount too. So that's what the part of the onboarding is. We explain to them the features, which is the custom app, the auto star, the weekly Wednesday calls, the marketing dashboard, actual dashboard, and we go through the whole bundles. It's usually about a. 30 to 45 minute presentation for them. I think we've done about 110 onboardings and knock on wood, everybody's excited about the product. We've 108 of them have onboarded and given us a commitment of a year or more on, on our new web platform. Which is pretty cool. I don't think there's any other technology company out there closing 98 percent of the deals.
Evan Hoffman:So what you're saying is that instead of the contractor having to pay Google for those calls, they just got to pay you now.
Ismael Valdez:Essentially, man. Essentially, dude. This is going to be the biggest retaining tool and this is going to be the stickiest product out there. For 1995, how much are we paying for a replacement lead right now?
Evan Hoffman:For a brand new lead, new customer, easily 200 bucks on a replacement.
Ismael Valdez:Exactly. So for, let's say they go with our e networks package for 150 more, they could retain that client for life and capitalize on it because the lifetime value on an air conditioning client varies from 20 to 50, 000. So for 150 more, they could retain that client for life, right?
Evan Hoffman:No, a hundred percent. And it's that's talking about a brand new replacement lead. Hopefully if it is someone you've done business before, the example you use, they're searching your name, but even then you're still paying. 20, 30 bucks for that click of your business name. And that's if you're running branded ads so.
Thaddeus Tondu:Also depends if people are competing against your also branded name could be a little as one or 2 could be like 50, 60, 70 for brand.
Ismael Valdez:You know how many times people like will search next gen air conditioning and another ad will pop up that kind of looks like ours and they'll click on that one. And then they'll call it like, bro, there's so many that little journey of the customer between them having a problem to searching the right contractor, that's what we need to eliminate, right? That's what we need to eliminate and give them the option of Hey, you already paid once for this lead. It cost me four or 500 for me to get to your house already, right? Why do we have to keep paying over and over to yell to Google because we don't have a branded, a device inside their home yet?
Thaddeus Tondu:I'm glad that it's changed a little bit to be honest from when you had, when we're on in Vegas and you say, Hey, we just sent out a notification when you want calls. And I'm so glad that part of it has changed cause I'm like, cause now you're actually basing it on some of the data that happens with inside the system itself. It's factual. It's saying, Hey, now we've analyzed it. We've monitor it. Here's where we're at. Here's what you're doing. Here's, All these extra things that go involved in it, which makes it a little bit better. I know that your team wants to share something. And then I want to pivot the conversation after that into anything. Kevin wants to go into health and wellness. I want to talk about something else and should be good to go. I believe we have that there. Ismael's production team should be able to share that now.
Ismael Valdez:Now, show them the custom app. There you go. Go to the next one. That's how the thermostat is going to look on sleep mode. That's how it's going to look when somebody gets ready, right? And then the next slide is the most impactful one. That's the one that everybody's excited about. So when they join the eNetworks package, we essentially do a custom app for everybody where they can see hey, you see the icon on the top where it says NextGen? That's where your company logo is. There's a dark mode that we're working on too that makes it look super sleek. And then the last phase of it, which is V2, we're going to be able to color coordinate and do a theme on V2 each app where like connections red, white, and blue, the whole app is going to be red, white, and blue. Some of these guys have purple and green and all that. So we're going to put a theme behind every logo. On the next one if you see it, this is what the customer is going to see. A notification on their thermostat, on their app. And then they're going to be able to see a notification on the thermostat saying, Hey, this is we need to get out there urgently. We're taking a step further too. V2 is already being worked on. I think it's going to release January 2025 where they click on the logo on the Nuva logo, next gen logo, whatever company you have, they click on it and you're going to be able to talk to somebody right then and there. Hey, can you get a technician out there just because we know that AI is going to be here in no time and they're going to replace 95 percent of these. Probably a hundred percent of these customer service reps, these CSRs and dispatchers where an AI bot's going to be really, literally you click the button and somebody's going to be like, Hey, how can we help you? And somebody, you can dispatch a technician through the thermostat or through the app. So that I can't wait for that.
Thaddeus Tondu:In terms of the messages and the notifications, does it ever say what needs service or how or is it just a, Hey, it needs service?
Ismael Valdez:Yes. So basically what we could put is reminders. Let's say you want to remind them every six months to do a water heater flush, because we do have sensors that are coming in for the water heaters that are already probably releasing in the next 30 days. We're going to put water sensors on the thermos, on the water heaters, on the drain pans for the air conditioner. We're going to put water sensors if you want to put one under your sink, just in case it leaks and you're able to spot water there too. So now we're going to be able to do actual alerts. What we don't want is to reinvent the whole wheel and become another Honeywell or another Ecobee where they're putting sensors everywhere and we got to get out there and retrain the technicians and tell them exactly how to do it. We just want to make sure that, number one, the consumer, to the consumer, it's a thermostat with a, with an app that they can control. To the installers, it's a regular thermostat, you just wire it the same. And then to the operators and the owners, it's a lead generation source to be able to reduce the cost. Marketing and increased efficiency inside your operation. So we don't want to overcomplicate it too much because then retraining the whole world. this is where 99 percent of these smart companies fail is because they bring out a product with all these sensors and all these instructions, and they roll it out to all these technicians. And they're like, dude, you got to hire an army to be able to train all these guys. So we just want to get out there. Here's a thermostat, install it. It syncs up to our dashboards. When you're in the office, that's when the magic is happening.
Evan Hoffman:Love it. No, I confused. Mine says no. I think the part that Thad was getting out was, would it alert the customer like, Hey, your air conditioner runtime has increased by X amount of percent you need to get it serviced or something like that.
Ismael Valdez:Because we're tracking runtime, that's our only diagnostic tool that we're using is runtime, right? So if it is running, two, three hours just to get to set point, then we, there is going to be an automatic alert sending to the consumer and the contractor saying, Hey, it's taking way too long to cool down. You might need a tune up or whatever once the technician gets there, that's what the technicians there for. What we don't want to do is replace the technician or dumb down the technician. The technician still is a valuable part of the operation. We'll never replace the technicians, we'll never replace the project managers, and we'll never replace the installers. Those are the three key components that make an operation successful. It's not about, trying to take the technician's mind out of it. We still want the technicians going in there making sure, hey, we're giving you a guidance of hey this unit's running way too long. Now you gotta get out there and actually dig into what's wrong with it. We don't want to start giving them codes and this and that because, let's face it guys, no matter how smart your smart sensors are, guess what's gonna happen? The technician still has to diagnose it. So you're just wasting your time telling them this is the problem, right?
Evan Hoffman:From the contrast perspective as well, one, so if it's 100 degrees out for two straight weeks, they're running their air conditioner way too hard. They're trying to get it down to 68 degrees when that's pretty unrealistic in terms of just battling the condition. So that's part of it are you able to control how many of those messages go out or is the message automatic?
Ismael Valdez:No, you guys are able to control the messaging, you guys are able to control the messaging and then there's a history of messaging on any alerts and any messaging that is on the consumer profile. So all you have to do is click on the consumer and they'll give you every all the information that you've been doing. If you send them happy 4th of July, if you send them a happy birthday notifications, you can do that automatically. If you know your consumers. If you know your consumer's birthday is on July 7th and you want to put an automatic message to go every July 7th, Hey, happy birthday, Mr. and Mrs. Smith. We appreciate your business. That impact alone is going to be super dope to see.
Thaddeus Tondu:Fairly large pivot in a sense from coming from an HVAC business to now what arguably could be a technological business and a technology stack. Looking at the changes in the challenges of moving from radically shifting business, obviously in the same industry in a sense, but what were some of the, learning hurdles that you've had to face in leading and running NextGen and now into leading and running Nuve.
Ismael Valdez:So Nuve is not my first technology startup. I had data, I still have DataCube, a four year startup. It's a technology, not a startup, it's a four year old company that we've been running for, I think over four years already. So I think the biggest learning curve between the service world and the technology world is the way you communicate with with people. The SAS technology and what we're building here at Nuve they're a little bit more I wouldn't say complicated. You just gotta, you just gotta deal with them a little bit different. In the home service industry you could walk in and be pissed off and da, and everybody gets to work, right? You gotta be a little bit more toned down, a little bit more methodical when you're doing technology, just because these guys are, most of these guys already worked at another another tech startup or another company, so they know what they want. They're more in tune of who they are. That's the one thing I could I could figure out. They're more in tune of the technology, but we're more in tune of who they are and the home service people are more in like trying to figure out, do they want to be a tech, do they want to be an installer? Do they want to be a, they're like in the discovery mode of their face. So I, the one huge difference that I see between the home service and the technology people is that the technology people are more like, Hey, this is who I am. This is what I want. This is what I need. This is where I, if you want me to come and work for you, this is what I'm gonna do. And the home service people are more like, Hey what can I help with or, they're a little bit more ser, more server service oriented.
Evan Hoffman:The other thing that stands out to me is the patience that it's taken to get to the point that you're at now. Like this is years in the making to be able to launch this product. Two and a half years versus next gen. you were out there borrowing money off of credit cards and from supply houses in order to get that thing going. And within a few weeks you started shipping out, dozens of pieces of equipment. So like that speed and that patience that it's taken to get to where you're at now. How were you able to deploy? That level of patience, especially for someone like you, who I know likes to go so fast. How were you able to put the brakes on that?
Ismael Valdez:So because of my journey that I've been with NexGen and I was able to blow it up and have that impact in it. Now I'm in a different I'm in a different phase in my life where I'm like, okay, cool. I gotta let people do their job to the point where it's Sergo and my Armenia team and my Hong Kong team and all those guys have been working on it day in, day out, Monday through Saturday, sometimes even Sunday and I had to learn to be patient in a way of hey, let them do their development, let them do the testing, let them do the trial, the R& D which is You know, it's huge in technology. I had to like literally teach myself how to let people do their job properly. And then right now I'm about to take the baton from them and start running with it, which is my favorite part of the journey is going from okay, cool, the product's done. Ishmael, we've done everything you, you wanted. We got the auto start feature. We got the logo. We got the app ready for you. We got the marketing center. We got the dashboards. We got the, we got everything that you wanted inside the thermostat. Now it's your time to, and I think that's the main thing at NexGen. I was doing everything myself and trying to, pump the gas and the brakes and everything at the same time. Now it's more of a section like, Hey, R& D had to do their time, the three years to make the product. Now it's my time to grow. And then I guarantee you in five, in three to five years from now, there's a different phase of Nuva that I still haven't seen, but I already know it's coming and I gotta discipline myself to hand the baton over to them and be like, okay, guys, let's do it. I did what you guys needed me to do. Here it is and now it's your project. And I had to learn that in the last, 10 years of being in the journey.
Thaddeus Tondu:Different seasons and iterations in business. And and that's it's huge because we're going through that in our business too, right? Like we literally just got kicked out of an operations level 10 meeting the other day and they're like, yeah, we don't need you guys anymore. And it's the season. It's the seasons of life and the seasons of business. And as the other part is what got you there, won't get you there. Yeah. In understanding that too, right about yourself as the leader, as the business owner saying, okay, if I'm at$2 million and I'm stuck at$2 million, it's my people, no, it's, take a look in the mirror. It's likely you and the leader that you need to become. Now if you're stuck at 10, you can use this at any number of an example by the way, 7, 10, 20, a hundred, whatever. There's different challenges and different things that come up.
Ismael Valdez:And I think and look, let me pick a write up on that because you just brought a thought to my head that I don't want to drop. The journey at NextGen took me eight years to grow towards that. And I made a harsh decision last week to finally, get, I was going 50 50 on NextGen and Nuve and I was half assing Nubit, half assing NextGen. So I finally made the decision of being humble enough and knowing myself enough and in where I'm at in my journey in my life, then knowing that, hey, as a leader, you gotta sometimes like. You gotta recognize when your time is due in that journey. And last week I made a decision to finally, let NextGen do the rest of the journey by themselves. And I took a step back and I said, hey man, part of being a good leader is also knowing when to hand the baton over to somebody else so they can continue the journey. I'm sure I'm going to have to do that at Nuve, I'm sure I'm going to have to do that at DataCube, at Legacy, at all these ventures that I have. And and that's the cool part that I've learned about myself in the last couple of years. I'm humble enough to know that, hey, I don't know everything and I don't, and I know I might not be able to take Nuve public, which that's my goal. But I know when the time I'm going to know when the time is right, where I need to take a step back and let somebody else take the journey over just because they're, they have a different set of skills that I might not be able to acquire.
Thaddeus Tondu:At what point do you have the self reflection in knowledge to to know that? So if you're mentoring a business owner who I don't know when I need to be able to make that decision, how do you know?
Ismael Valdez:When I stopped having impact on the people, when, and when I stopped having that When I stopped having that everyday impact on people, like used to come in next gen every day and I would walk in and everybody's fucking synchronized. Everybody's just, and for the last year or so after I sold it off to a wrench group, which is an amazing partner. And I love that I did that with them. I'm walking in there and knowing that I'm not giving them my honor work. Was the tipping point for me to be like, okay, cool. I need to hand this off to somebody that's going to give it a hundred percent their attention so I can go focus something on a hundred percent, which is why, Nuve came in right at the perfect time. I'm leaving my journey at NextGen and Nuva finally finalized the product about a month ago. We've been testing for 90 days and luckily, knock on wood, we've only had one warranty in the last three months. Thousand units, which is, pretty fricking amazing. So knowing that I could, that knowing that I'm in the perfect time to, to take Nuve to the next level is it's what I had to do.
Thaddeus Tondu:Evan, do you have any final thoughts before jumping to our random question generator?
Evan Hoffman:Last thing would be the mentorship.
Ismael Valdez:Mentorship. Dude, I'm going to be honest with you, man. I look at, I look around at this industry and there's a ton of gurus out there and a ton of people selling their products. They're services and a ton of people, saying, Hey, come and join me. I'm going to help you. I'm going to help you blow up your business. Number one, like that is not the message I ever want to give to people because I don't consider myself a mentor or a guru or, somebody that's above somebody like I will always, if I have the bandwidth at the time of my journey, I will always, if somebody calls me right now and I'm not doing anything and they need advice, I will always do it for free. I don't think I will, knock on wood, I don't think I would ever have the guts to charge people to be like, Hey man, if you want to talk to me, you got to pay this description. I don't know. I just, to me it feels, it feels weird. So my, my advice to them is Hey, look at the fucking track record. Look at the track record. Don't take people's, don't take people's word for it. If you're getting, if you want to grow to a hundred million dollars, go to somebody that's grown to a hundred million dollars. If you want to exit your business, go to somebody that's exited a business once or twice or whatever, many times, right? If you want to, become a fitness coach are you going to be, are you going to go and hire somebody that's 300 pounds and is eating burgers all day? Of course not, right? You're going to look for somebody that's fit, that's dedicated and disciplined, that wants to, that's in the gym every day, right? That's what I tell people. Stop looking at, stop hearing what they're saying and stop looking at what they're saying. Like you can't just keep, taking people's word for it. I'm so against this fucking guru mentor. Like I, I don't consider myself that I go on Avengers and I just try to help as many people as I can.
Evan Hoffman:Oh, I always love the saying of what you do speak so loudly, I can't hear what you say.
Ismael Valdez:There you go.
Thaddeus Tondu:I was just thinking about the Patrick Wong one where he says, I'm sorry, I can't share you with my Stanley Cup rings.
Ismael Valdez:I'd like to think that my actions have been pretty loud. You know what I'm saying?
Evan Hoffman:Absolutely. So with the mastermind offering that you're putting together with Nuve, Do you want to speak on that really quick?
Ismael Valdez:Of course. It's a, so it's a weekly Wednesday calls that we're going to do. It comes with the e networks package. It's 10 AM every day. And it's not, Hey, I'm going to show you how to exit your business. I'm going to show you how to grow to a hundred million. I'm going to show, we're going to show you that there's a different way to do memberships. when I posted about a year ago that memberships were dead and the whole fucking world stopped that's not what I meant, but that's what I meant. It's not that they're dead. They just need an update. Like, why can't we monitor these devices and capitalize on it? Why can't we, why do we have to go to the home every single time and walk out with a bunch of zeros? It's not every time you walk into a house, you're walking away with two, three, four, five thousand dollars. Most of these memberships are just changing filters and cleaning units. That's all they're doing. So why can't we monitor, make sure that, hey, some of these customers we're trying to get in their door and hammer them and try to sell them something when we could have just looked at their system and been like, oh, you haven't even used it this year. You've used it, two days out of the whole year. So why go in there and try to hammer them again? So all I'm saying is maybe monitoring is not the answer. Maybe membership's not the answer. But, there is a different way to do things, and that's what I'm always trying to challenge. It's that's why I came up with DataCube, that's why I'm coming up with Nuvec. I'm sure that I'm going to come up with a different product to to improve a sector inside the operation. That's who I am, that's not, that's not what I'm not trying to, I'm not trying to reinvent the wheel, I'm just trying to question everything. Everybody did things a certain way the last 20, 30, 40 years. I'm not saying it's wrong. I'm just saying, is there a better way to do it? And if there's a better way to do it, let's discuss it amongst each other and let's improve the operation. Let's not just let it be like, Hey, this is how we've been doing things for the last 20 years. Memberships are the only way to retain a client. Is there a better way to do it? And if there's not, let's figure it out together. That's all I'm saying.
Thaddeus Tondu:It's an iteration of the membership program cause like you're right, if they've only used a unit for two times do you actually need to go in and clean the unit? Maybe not. And so you can actually combine something like this with a traditional membership program. Now you've actually got two revenue streams too. If you think about that, because you can have your traditional membership program. Oh, by the way, we're also going to monitor your system. So that way we know if we, what, When we need to give you more TLC on your unit, and now you've double dip, you've iterated it, and you've created an even stickier product for the client.
Ismael Valdez:You, you know what I'm excited about, and I'm not gonna take too long on this, but this is probably the most exciting part about not just nuen and just the next phase of what's gonna happen in the industry, for the last, 10, 15 years that we've been selling these companies to private equity, or we're taking'em to IPO, whatever's gonna happen. We've been, we've been getting paid on multiples of EBITDA, right? So we've been getting paid. If you earn a million dollars, we give you eight million dollars, ten million, whatever it is. It's multiples of EBITDA. The SAAS companies are getting paid multiples of fucking revenue that doesn't even exist. They're getting multiples of revenue, future revenue, market share, like all these things and I'm like, okay, so we're getting paid multiples of EBITDA on our operation. Is there a way that we can get paid multiples of revenue? And how do we find a way to do that? I know that there is a way, by infusing technology into the operation, maybe you could sector off the operation into different forms, where perfect example, my buddy owns a company right here in the Inland Empire. They paid for 80 percent of his business. They paid 10x on 80 percent for the 20 percent which was Home Depot, Costco, Lowe's. They paid 7x of EBITDA, right? Why can't we do that with our, with a different way with us? Why can't we infuse technology and call it monitoring and build a MRR on the monitoring fee? And build half a million dollars worth of MRR and get paid on that, on revenue, times 20, 30, 40, 50, and then on the other section get paid multiples of EBITDA. That way everybody fucking wins. Now the companies are valued higher, we're actually improving the technology inside the operation, we're actually improving the home service, right? That's the one thing that I'm going to keep working on. How do we keep infusing technology to keep driving the value of these companies up and up? Cause bro, making a couple hundred millis cool, but imagine making a billy. That would be dope.
Thaddeus Tondu:That was a mic drop. He just walks away.
Evan Hoffman:He's starting to get fired up. I love it. And speaking of doing things better the random question generators brought to on purpose media. Visit on purpose, media. ca slash second opinion. You get a second opinion on your marketing. So make sure that everything's operating correctly and it's no obligation, no signup, no bullshit, just straight value. How can we help you, whether that's taking the information back to your marketing company or looking at doing things a better way, go sign up for that. Random question generator. If you don't remember ish, this is where we're asking a question. It has nothing to do with anything we were talking about, but it usually leads to some great conversations. So you don't get to know what they are beforehand. Would you like question one, two, or three?
Ismael Valdez:I'll go with number one.
Evan Hoffman:Alright. If you could travel back in time and witness one historical event, what would you pick and why?
Ismael Valdez:In my life or in the world?
Evan Hoffman:In the world.
Ismael Valdez:Going back to meeting my mom for like even 5, 10, 15, 20 minutes because I never got to meet her. She passed away when she was, when I was two, so I never got to like really talk to her or interact with her. So I think if I could go to one place in the world, if God could take me back to talking to her for a quick five minutes and just letting her, hugging her and talking to her and asking her a couple questions that I got I think that's my main, I would choose that over fucking. Talking to God, talking to fricking Michael Jordan, talking to whoever you want to name, I think talking to my mom for a quick five, 10 minute conversation and and just her being able to see what I, the journey that I've gotten here, that would be pretty dope for me.
Evan Hoffman:That's way more sentimental than I thought.
Ismael Valdez:You're like, I wasn't expecting that. I thought you were going to talk about something stupid. No, I do. I would go back for a quick 10 minute combo with her. That would be super dope. I never got to talk to her, so I've always had that in the back of my mind man, if I could have a quick 10 minute conversation with her, just to see how she was, the way she carried herself, the way she talked, the way she, the way she smiled, the way she looked, that would be pretty dope for me.
Thaddeus Tondu:That would be in, it's, you almost say you hit a chord with me and thinking about what would that have been like on, like for me or what it would be like for my boys and it'd be like, yeah, trade that if that was the situation in a heartbeat.
Evan Hoffman:And I know you've had tremendous help from family members, your brother raising you playing a big role in your life early on you wouldn't be here without those sacrifices from family members. Yeah, it's it's something else, dude,
Ismael Valdez:Thank you.
Evan Hoffman:Yeah. Now you're on the health kick. This is the worst transition in podcast history because I don't know where else to.
Ismael Valdez:Stop it there. We didn't, we shouldn't even talk about that.
Thaddeus Tondu:Oh, Hey, we could go to the health kick or we can ask our patent the last question. Up to you. It's up to you. We're still gonna ask the last question, regardless.
Evan Hoffman:I do want to talk about the health thing, cause this has been something that you've Been putting out there for a little bit. You've been talking about it a lot more. Why was getting healthy important to you? Why was that something that you wanted to to make a bigger part of your life and then also carry that over into your peer group that you've created the what is it? LSD group that you've created with your buddies making sure that health is a priority for you guys.
Ismael Valdez:Because I think I I go back to the different phases and stages of my life, when I was partying, I had to stop partying to grow the business. When I had to grow the business, I had to sober up to understand the business. And then now that I sold the business and, we created some generational wealth for my kids and everybody. Now I'm at a different part where okay, what's left for me to fine tune myself? Cause I'm always working on myself. I'm always working on the trades. I'm always working on the operation. I'm always working on something. I feel like I got to fix something in order for my life to have purpose. So like for me, it was like, okay, what's the one thing that's missing? And I looked at myself in the mirror one day, I'm like, God damn, I'm fucking fat. Like what the fuck happened to me? I used to be fit. I used to go to, I used to play baseball when I was young. So that was probably like, it's just different stages of my life. I know that, sobering up to growing the business, selling the business. Now it's like the only way to get better from now to, I promised you guys in three to five years, I'm going to take Nuve IPO. In order for me to do that, I think God is telling me that I need to sober up. I need not sober up. I need to I need to work on myself. And the one thing that I didn't have was the discipline of going inside the gym and, putting in the one or two hours in there working on me and my mental health. So I think it's just the stages that, that God keeps putting me in and keeps telling me, Hey, this is the thing that you got to work on. If you want to take Nuve, I feel cool. No problem. I'll help you get there. The only way I'm going to help you get there is if you work on the best version of yourself. And I believe this next version of myself is probably going to be the dopest one.
Evan Hoffman:I love that. Cause more often than not, people set big goals and then they immediately go to how is it that I'm going to get there? Yeah. And they skip two important steps of why is it that I want it? because if you don't connect with a why you're never going to be able to push through those hard days and then who do I need to become? What are the habits that I need to build in order to achieve that? Someone who's running a billion dollar technology company, what do they do on a daily basis? Who do they connect with? Are they the ones that are actually making tech decisions? Fuck no, they've got leaders that are in place that do that for them, right? Focusing on who it is that you need to become is a massively overlooked step.
Ismael Valdez:Yeah, I agree with that and that's why I brought in, my buddies from LSD. I, dude, we're on the group message and I'm calling them fat asses and I'm fucking texting them pictures of my, my DEXA scans. And I'm hey, get your fucking ass in the gym. Show me that you went in the gym. They're sending pictures of them deadlifting. They're sending videos on it. We're holding each other accountable. That group in there, dude, from Tom to, look at fucking Tommy's almost worth a billion dollars, right? Like that group, we hold each other accountable. And that's probably one of the one key things that I want to make sure that everybody in the trades works on. You got to find your little niche of people that are going to push you to get to where you're at. I know for a fact that, I, my goal is to become a billionaire in the next three years. It gives me, I have what, two years and seven months left to get there. And in order for me to get there, I got to hold myself accountable. I got to be disciplined and I got to hang around the right people. And Tommy, Chris. Chad Travis, Tom, all those guys are holding me accountable just like I'm holding them accountable.
Evan Hoffman:Oh, I love that. Toxic masculinity has its finest calling each other fat asses. It's great.
Ismael Valdez:Oh, bro. I'm old school. I call people retards, fucking fat asses, dude. We were raised on them. We were raised on those words, right?
Evan Hoffman:100%. How have wagers and bets allowed you to level up your game?
Ismael Valdez:Bro, the one thing about me, like you could ask anybody around here, I don't give a fuck if it's a dollar bet. I don't care if it's a 10, 000 bet. I have a million dollar bet with Tommy going on right now. See who has the biggest, the highest net worth by the age of 50. Obviously he's fucking old. I think he's 42 or 43. So he's got seven years to get to his highest net worth. And I got 13 years to do that. So yeah, dude, bets to, to being the. Just the idea behind the bet or being able to say, Hey, I won, by the way, I beat Tommy four times already in a row on all our bets. The million dollar bet is our fifth one, but just to be just the level of competition that these guys bring out of me, no, I don't think anybody else could have, I don't think if I hung around with Ken and, Paul Kelly and all those guys, they, they would be too nice to me on that level. Tommy brings out the best in me. Tom, everybody, like we bring out the best in each other. So I think those bets are just like the cherry on the top to being able to like, say, Hey, look, I beat Tommy. I beat Tom, I beat these guys. So dude, I think the best is just to tell you the cherry on the top, but we do take it really fucking serious.
Evan Hoffman:Especially when you set the bar that high. I know you've won a 50, 000 watch in the past.
Ismael Valdez:And by the way, he paid me all my bets. He paid me 10, 000, 25, 000, a 50, 000 watch. And last one that we met and made a bet on, he just paid me in December, 250, 000. He paid me. So I want to say, Tommy, you're a beast. You're going to pay me that million dollars so I promise.
Evan Hoffman:Cashier's check, right?
Ismael Valdez:I'll take a wire at that time. Wire. You want EBT,
Evan Hoffman:Don't you want Don't you want the briefcase too?
Thaddeus Tondu:I was going to say suitcase full of cash. Suitcase full of cash.
Ismael Valdez:I don't have to pay cash all day.
Thaddeus Tondu:Hide it under your mattress so you don't have to. Yeah, I was going to say put it under your mattress so you don't have to pay Uncle Sam. I'm good. It's been a treat having you on thank you for bringing the passion, the fire excited to, to see where Nuve is going to go in the future and really what you guys are building there. It's something I believe that's going to be special of course, if you want to check out their product, you can go to nuvehome.com. You can hit them up on the Instagram at Ismael Valdez, CEO. You can find their Facebook group. You just have to search Service Avengers in Facebook. We'll put a link in the bottom of our show notes. It's a long numbered one. So just search Service Avengers. It'll pop up and you should have that there. So as we do wrap up Ishmael, we have one final question here for you and that is, what is one question that you wished people would ask you more, but don't,
Ismael Valdez:what is the one question I wish people would ask me more?
Thaddeus Tondu:But don't
Ismael Valdez:I wish you would ask me more like the why, like why I keep fucking like digging into the operation so much. I feel like people just see the results that I've done selling NextGen, selling my first two companies, selling NextGen, the ventures that I got going. I don't think people really know why like I do it. To me, I've always been so curious about everything like, and I question everything and I think I frustrate some of the private equity people and some of the, the way deep things were done, just because I questioned so much, they don't ask me the why is because I just I love having a healthy debate. I love having a healthy conflict. I love having a healthy conversation of Hey, if you think you're right, and I think I'm right, let's debate over it and let's find out a solution and that's what keeps me driving. Hey, why don't, why do we do memberships the way we do it? Or why do we keep paying Google so much? Or why do we keep, why do we keep, rolling trucks when we could save those? Or I just asked so many whys, right? And the why is just that I'm curious. I'm not trying to start a conflict. I'm just trying to dig into, can we do it better as a group? I'm not saying I have all the answers, but let's talk about, like, how we can make it better, right?
Thaddeus Tondu:Evan, do you have a follow up? You look like you're deep in thought.
Evan Hoffman:I was writing down a potential title for the episode.
Thaddeus Tondu:Oh,
Evan Hoffman:okay.
Thaddeus Tondu:Even better. But it's a key thing, right? And there's often times where as a leader, as an owner, you got to poke a holes in certain aspects and know when to poke holes, know when not to poke holes and let your team run with it and being able to either that, or, it's always easy to come in from an outside perspective into a business, especially if you understand what's happening, In a business scenario to come in and poke holes in it because you're an outsider looking in It's just understanding those different nuances to be able to know when to do it when not to do it when to push when not to push when to ask when not to ask.
Ismael Valdez:Exactly congratulations on all your podcasts I want to make sure that Nuve sponsors you guys and It's the main sponsor for your show. Whatever it is that you guys need from us, we want to make sure we keep supporting you guys. Cause you guys have a huge impact. Some of these people are 18, 19, 20 year olds hearing your podcast and they're like, I get DMS on Instagram and Facebook saying, Hey, I heard you on this podcast. I've seen you on this video. I see you on that. And just to have that little DM of Hey man, you changed my life on this podcast, or you changed my life on this video, or you check, like you guys don't know how big of an impact you have on the industry. By being consistent on your podcast. So I want to give you guys a big up on that.
Evan Hoffman:Appreciate it. Thank you. Appreciate you. Appreciate you being a master debater when it comes to poking holes in systems and uncovering the why and a deeper why, right? And how is it that we can do things better and continue to elevate it? Cause it, it helps the industry grow. It helps everyone grow, helps us get better as well. So thank you.
Ismael Valdez:Of course.
Thaddeus Tondu:And until next time, cheers.
Ismael Valdez:Thanks guys.
Thaddeus Tondu:Cheers. Well, That's a wrap on another episode of HVAC Success Secrets Revealed. Before you go, two quick things. First off, join our Facebook group, facebook.com/groups/hvacrevealed. The other thing, if you took one tiny bit of information out of this show, no matter how big, no matter how small, All we ask is for you to introduce this to one person in your contacts list. That's it. That's all. One person. So they too can unleash the ultimate HVAC business. Until next time. Cheers.