We caught up with the brilliant and insightful Marcello Pedalino a few weeks ago and have shared our conversation below.
Marcello, appreciate you joining us today. Do you think your parents have had a meaningful impact on you and your journey?
My parents did many things right. They never “told” me how to live; they lived, and just let me watch. The stellar example they set became the gold standard by default. My sister and I had no choice but to become a product of our surroundings. We watched them show up to early to everything and ask, “how can I help?” We watched them work hard on a project or task and not stop when they were tired. They only stopped when they were done. We watched them excel in their careers because they were always improving their skills and making themselves valuable to whatever team they were part of.
Something as simple as doing a “dry run” to a destination where I had a very important upcoming appointment or presentation had a meaningful impact on my entertainment and event production company. Of course, it’s a little easier now with GPS and apps like WAZE but back in the day my mom and dad would always make sure they knew exactly how to drive somewhere in advance so they wouldn’t chance getting lost and being late on the big day. This enabled them to arrive stress free, ready to do business, and present the best version of themselves. For thirty five years, I’ve done dry runs and it continues to serve me well. My clients always appreciate my punctuality and ability to have everything in order and under control when they arrive regardless of the destination. Whether my company was performing at or producing a local event in New Jersey, across the U.S. in Seattle, or out of the country in Costa Rica, arriving first and making people feel at home when they are away from home is always worth the extra effort. My parents taught me that when hospitality, pacing, and logistics are well thought out, the odds of success for any type of personal or professional interaction increase exponentially.
Marcello, before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?
When I was a teenager, my mom made arrangements for me to have lunch with two very successful entrepreneurs from our town. At the time, I’m pretty sure that both she and my dad knew that college and the traditional route into adulthood weren’t going to be my chosen path. The lunch was a powerful eye opener into what was possible beyond spending four years doing something I wasn’t passionate about and wasting any of my parents’ money. Glen Kuffle and Tom Few, two very accomplished businessmen, talked to me about the freedom that comes from running your own company, making more money than you spend, return on investment, long-term strategies, recognizing what you’re good at, and most importantly, having the guts and grit to do stuff that the majority of people won’t do. Even though I couldn’t spell the word or despite no knowing what it really meant at the time, I knew on the way home from lunch that day that I was going to be an “entrepreneur.”
I played sports, but wasn’t a standout athlete. I was competitive for sure, but athletics were just a good way to stay out of trouble after school and make some good friends. High school was a chore because nearly all of the classes were so boring to me and I felt like they would never come in handy. I still remember sitting there in algebra class wanting to cry because number one, math never came easy me, and two, because I knew that the Pythagorean Theorem would never come in handy unless it was going to be a question on Jeopardy one night.
My grandfather was a smart man. He went to the grocery store a few times each week and shopped in the section where you could buy day-old bread or a couple of dented cans of soup or vegetables that were being sold at a fraction of the regular cost. On a visit to his house one day he handed me one of his purchases—a big bag of candy bars that were individually wrapped and fully intact, but significantly discounted in price due to a small hole in the bag.
He gave me the bag to take home to eat and enjoy. I liked candy bars, but not that much to eat a full bag. That was that was the moment my entrepreneurial spirt was set free. I took the bag to my high school the next day and sold each piece to my friends and classmates. I sold out by fifth period. For the next couple of weeks, I’d buy the value packs at our local grocery store, pack up an extra book bag, and bring one with me to school each day. Word began to spread and soon I had daily repeat customers all wanting to enjoy a little snack before their next class or after lunch. The profit margin was pretty awesome. I could charge a premium because of the convenience factor and the quality of the product. By the second month, I had the big chocolate bar companies delivering bulk orders of their products to me at wholesale prices. This was before there were vending machines in the cafeteria so I had 100% market share in the school. I made $6000 net profit by the end of the year. The candy business taught me about the importance of making things convenient for your clients, about supply and demand, about being first in the market to provide a service, and about the power of providing consistently excellent customer service. Eventually, the school finally realized how much money they were losing each day and got in on the action. They installed vending machines full of the same products I was selling. No worries. I was already on to my next venture.
Since I had always loved music, performing, and making people happy, I took the $6000 and invested it into a DJ sound system. I provided the entertainment and event production for my first wedding client after a few months of practicing music mixing and speaking on the microphone. It was far from perfect, but it was good enough to get a few referrals and start a 35 year career. Fortunately, when I started, the special events industry wasn’t as saturated as it is now. If you were good, you could charge a premium and simply rinse and repeat. To this day, since reading Michal Port’s book, Book Yourself Solid, and learning about the Red Velvet Rope philosophy, my goal is to always be “expensive, but worth it,” and let my work, limited availability, and reputation speak for themselves. So far, so good.
Any stories or insights that might help us understand how you’ve built such a strong reputation?
The ability to say “no” when a prospect called.
As a result of attending networking events and learning about guys like Dave Ramsey who hammered home the importance of having “financial peace” in your life, I always made sure to have a “rainy day fund” and focus on what my company actually keeps vs. what my company earns. This strategy and mindset allowed me to be consistent with my premium pricing and avoid signing contracts out of desperation. I never fell into the trap of needing to book the next “gig” to pay my bills or keep the company afloat. The foundation was always strong enough that I could say, “No, thank you” when a prospect wanted my services at half price or a discount. I could afford to stay home on a Saturday and not get a paycheck that week. I was taught that like attracts like when it comes to referrals. If you simply say yes to everything and book every client looking for a discount or work for someone who does not appreciate your talent or service, you will attract other referrals who are of the same mindset and budget.
On the other hand, when you can hold your ground and charge what you are worth, the referrals from that event will be made up of the same DNA. My clients had higher than average budgets and higher than average expectations. This always was, and still, is my comfort zone. Based on the work ethic and self respect I learned from my parents, I put the same amount of time, effort, and preparation into any project or task I do. In my eyes, aside from donating my time to a charity when my schedule permits, there’s no reason not to earn what you deserve for your time and effort. It may take some time to reach a position in your business where you can be selective, but if you focus on the long-term game plan and realize that your reputation and brand are going to be continually in development for thirty to fifty years, you’ll learn to appreciate a slow and successful marketing build.
Are there any books, videos or other content that you feel have meaningfully impacted your thinking?
I’m thinking that most of the books that I’d insert here like From Good To Great, The Thank You Economy, How to Win Friends and Influence People, The Richest Man in Babylon, The Blue Zones of Happiness, and Tuesdays With Morrie have probably all been mentioned numerous times already in previous articles. I’d rather focus on The Jacuzzi. No, this isn’t a book, online course, or a YouTube viral video. The Jacuzzi is an actual jacuzzi that’s at the YMCA at which I’ve been working out for the past 20 years.
After each workout, I’d swim, hit the steam room, and finish up in the jacuzzi to relax and enjoy some causal conversation with a few very special gym members. Since I owned my business and had my mornings off, I’d workout around 9am when most of the retired guys would show up. These guys were all in their 70s and 80s and happy to share some fascinating stories and life advice. This was my formal education. These guys were from a different generation. They fought for our country and lived through the depression. They weren’t spoiled. They had consequences for their actions. They only got a trophy if they earned the win, not just because they participated. They had found the love of their life and best friend even if it took a second try. They knew that money is important, but there’s a point of diminishing returns for the toll it takes to earn it. They knew that how you take care of yourself in your 40s and 50s will determine your quality of life in your 70s, 80s, and 90s. They knew that “you are who you surround yourself with” so keeping good company is more important than the size of your house or the type of car you drive. They knew that if you want to feel good you should do good, so you should always put some good mojo out there by helping others when you can. They knew that smoking, drugs, and alcohol were nothing but an expensive distraction.
Hanging out with these guys each day was like reading a chapter in a book called “Pay Attention, This Is Everything You’ll Need To Know If You Want To Be Healthy, Happy, And Successful In Life.” To me, it all comes down to this… If you can become the best version of yourself, you can become as successful as you desire. Once you figure out your goals, work backwards and make it happen.
Both of my books, Celebrate Life: How to Discover Fulfillment and Experience the Joy You Deserve, and Onwards and Upwards: How to Prioritize Your Health and Live Your Best Life, are a culmination of everything I’ve learned over the past 50 years. It was time to pay it forward and help other young and motivated entrepreneurs sitting in their math class thinking to themselves that there had to be a better way.
Contact Info:
- Website: https://www.marcellopedalino.com/
- Instagram: https://www.instagram.com/mmpmarcello/
- Facebook: https://www.facebook.com/MarcelloPedalino
- Linkedin: https://www.linkedin.com/in/marcello-pedalino-09739a2b/
- Youtube: https://www.youtube.com/user/mmpentertainment
- Other: https://mmpentertainmentblog.com/
Image Credits
Promo Pic= Dave Kotinsky Beach Pic- Neil Kahn All others: Dr. Jill Pedalino