Dear Reader,
Alan O’Neill is the founder of Abacus a +$115 Million HVAC and Plumbing business based out of Houston, TX. I, Todd Liles, was the coach and consultant for Alan and Abacus in the critical phases of growth in their early years. And, more importantly, I’ve remained a close friend with Alan over these past 14 years.
After watching Alan personally handle a tough scenario in his business, I looked at him across his desk and said, “Alan, you have what it takes to be the CEO of a $50 million operation.”
In Alan’s own words, “I thought you were crazy, Todd. I never believed I’d grow a $50 million operation.”
Well, we were both wrong, because Alan went on to grow a +$115 Million Dollar business. Along the way, he was purchased by a PE group, and has had 3.5 bites of the apple. He has gained a massive amount of perspective and wisdom about what it takes to grow a big team and stay focused on your core values. Alan has also stayed the same humble hard working Irish Plumber that appreciates life and people.
When I had the idea to start this journey of exploring what does it take to develop a $100 Million Mindset, I knew a few things:
- I need a co-host that I’ve shared the trenches with.
- I want my co-host to be someone I want in my life for the long haul.
Alan was my first choice, and thankfully he saw the vision and wanted to go on this journey with me.
In today’s episode, you will hear me interview Alan on what it took to grow Abacus. In future episodes, Alan and I will interview other entrepreneurs as co-hosts.
In all episodes, we will explore The $100 Million Mindset.
In This Episode, You'll Learn:
- Todd’s Pyramid: Purpose → Culture → Habits → Goals
- Alan’s Rule for Hiring: A new team member should deliver 5X their salary in value within 1–2 years
- Daily Recruiting Discipline: Spend at least 1 hour a day proactively recruiting talent
Episode Chapters & Summary
Why the $100 Million Mindset?
““You cannot get to a hundred million by accident.””
Todd shares how the podcast idea came during a walk, emphasizing that **hitting $100M requires strategy, leadership, and a little luck**.
Alan agrees and notes that **success is relative to each business owner's environment**. What matters is pushing towards your dream.
They discuss how **even a business in a small town can adopt the mindset of ultra-successful companies**.
Key Takeaways:
- The $100M mindset is about how you think, not just what you make.
- Every business can benefit from thinking bigger.
- Leadership, market size, and intention all play roles in hitting $100M.
The Journey from Modest Goals to Massive Growth
““We decided that if we could get to five trucks doing $400,000 each, we'd be living high on the hog.””
Alan never set out to build a $100M company. **The original goal was $2M in revenue** with five trucks.
Todd recalls how he saw potential in Alan early on and challenged him to think bigger.
**Alan admits that Todd's belief sparked a mindset shift**, pushing him to dream beyond what he thought possible.
Key Takeaways:
- Big growth often starts with small, clear goals.
- Encouragement from mentors can shift a leader's mindset.
- Confidence and belief in yourself are key to scaling.
Customer Experience as a Competitive Advantage
““We are for real when we say we're going to have 100% customer satisfaction.””
Todd recounts a time when Alan refunded a client on the spot—sending a powerful message to his team.
Alan emphasizes that **doing the right thing for the customer builds trust internally and externally**.
**Leadership shows through actions, not just words**—especially in high-stakes customer moments.
Key Takeaways:
- Customer-centric decisions can reinforce company values.
- Great leadership is visible in tough calls.
- Protecting your brand starts with how you treat people.
Scaling the Team Without Losing Profit
““If you have a dream but no team, you either have to give up the dream or build up the team.””
**Alan highlights the importance of strategic team building**, especially when private equity came on board.
He shares his rule: **a new hire should deliver 5X their salary in value** within a year or two.
Todd and Alan discuss the fear of overhead hiring—and how smart investment in people fuels sustainable growth.
Key Takeaways:
- Team building is essential to scale responsibly.
- Investing in people requires strategy, not guesswork.
- Overhead roles can pay off with proper expectations.
Recruiting: The Real Growth Bottleneck
““We were spending less than 1% of our time on our biggest obstacle to growth.””
Alan reveals how **recruiting was the #1 growth challenge**—and that they weren't dedicating enough time to it.
**He implemented a rule of spending at least one hour a day on recruiting**, leading to tangible results.
**Consistent, proactive recruiting builds a long-term pipeline** of talent ready to move when the time is right.
Key Takeaways:
- Recruiting requires intentional time and effort.
- Waiting for talent is riskier than pursuing it.
- Systems and consistency are key to attracting great people.
Culture, Habits, and Goals
““Culture finds people that will habitually do things. The goal is a byproduct.””
Todd breaks down his pyramid: **purpose → culture → habits → goals**.
Alan and Todd agree that **long-term success starts with clearly defined values and purpose**.
They emphasize that **pressure to perform can't override doing the right thing**—and culture protects against that.
Key Takeaways:
- Purpose and values must drive culture.
- Great culture produces consistent habits.
- Chasing goals without culture risks integrity.
Partnering with Private Equity
““The day that check hits your bank, you cease to become the owner.””
Alan shares his journey through four private equity partnerships—from hands-off to hands-on.
**He learned that PE involvement varies, but control always shifts**.
**Maintaining humility and adaptability helped Alan thrive** in those partnerships, even as roles evolved.
Key Takeaways:
- Private equity changes the game—control shifts.
- Success in PE partnerships requires trust and humility.
- Each PE group brings a different level of involvement.
Financial Discipline & Rewards
““I always looked on the money in the company as the company's money.””
Alan and Todd discuss how **frugality and discipline helped them grow without relying on debt**.
Both leaders waited years to take distributions and focused on **building strong reserves first**.
Alan reflects on how **debt freedom gave him peace of mind and long-term flexibility**.
Key Takeaways:
- Save before you spend—especially in early years.
- Debt freedom creates powerful peace of mind.
- Financial stewardship is essential at any scale.
Legacy and Long-Term Impact
““I'm not handing you a job. I'm entrusting a legacy to you.””
**Alan shares his pride in raising the bar in the plumbing industry** and creating opportunities for working-class people.
Todd praises Alan for **changing family trees through trades education and growth**.
**They close by reflecting on how legacy is built daily**—through people, culture, and commitment.
Key Takeaways:
- Legacy comes from impact, not titles.
- Helping others succeed is the ultimate reward.
- A business is a platform for long-term good.
