Building Wealth Through Unsexy Businesses: Jeff McCallum's 30-Year Journey to Multi-Million Dollar Success

Introduction

What does it take to build a multi-million dollar business in an "unsexy" industry? According to Jeff McCallum, entrepreneur and business coach, it's not about finding the most glamorous business model—it's about discipline, consistency, and empathy. In a recent episode of The Nathan Newberry Podcast, Jeff shares his remarkable journey from an $8-per-hour job at a gas plant to building and selling service-based businesses worth millions. His story challenges the common belief that you need a revolutionary idea or a tech startup to create substantial wealth. Instead, Jeff demonstrates how industries like carpet cleaning, restoration, and other service-based businesses can create extraordinary financial freedom when approached with the right mindset and strategy. Whether you're already in a service business or considering entrepreneurship, Jeff's 30-year journey offers valuable insights into building wealth through what many might consider "boring" businesses.

The Power of Unsexy Businesses

One of the most compelling themes throughout Jeff's story is how he built his fortune in industries most people would overlook or consider unglamorous.

"These are unsexy businesses," Jeff notes. "I've always seemed to have a second job when I met my wife. I was in a pest control company... and on the side, I had a janitor company with a buddy."

This pattern of pursuing service-based businesses continued when Jeff moved to Victoria and bought into a carpet cleaning franchise in 1986—a time when the industry was undergoing technological transformation with the introduction of truck-mounted units.

What makes these businesses particularly valuable, according to Jeff, is that they're essential services that will always be in demand. He shares a crucial observation about a largely untapped market opportunity he discovered:

"I had one person phone me one day and say, 'I have water in my basement.' I thought, 'Okay, well, how do I charge this out?' I went over, I extracted. Well, once I learned that—we had a storm in Victoria one year, and it was really bad that same year—I phoned up probably every property management company... by the weekend, I made more money in that weekend than I did all year being in that town."

This pivotal moment led Jeff to focus on restoration services—cleaning up after floods, fires, and other property damage. When insurance claims are involved, what might start as a small cleanup job could become thousands of dollars in revenue:

"When somebody calls you for a claim, that can be thousands of dollars. Back then, it was $2,000 or $3,000 for a hot water tank. For example, now it's, you know, 10 to 15 to 20 grand for just emergency... that's your bill just to clean it up."

He even mentions more specialized niches within restoration, such as biohazard cleanup, that can be extremely profitable despite being far from glamorous.

Jeff's experience aligns with what current business advisor Cody Sanchez calls "boring businesses"—companies that operate outside the spotlight but generate substantial cash flow. As Jeff points out: "There's all these businesses out there that nobody knows about. They're unsexy, but they're quietly raking in millions of dollars."

This approach challenges the common startup mentality that focuses on disruption and innovation. Instead, Jeff's success came from identifying established, necessary services and executing them exceptionally well—a strategy that's often more accessible and less risky than trying to create the next tech unicorn.

Leadership Through Empathy: Building Teams That Last

A critical factor in Jeff's ability to scale his businesses beyond himself was his approach to leadership. Unlike many technical founders who struggle to delegate, Jeff discovered early on the power of building strong teams through empathy.

"My first employee, Miles Malletto, I'll never forget it," Jeff recalls. "And I thought, 'Wow, I can do all this work, but I can get him to do this.' And that's where it kind of started with how do you motivate people."

What makes Jeff's leadership philosophy particularly powerful is his emphasis on empathy—a trait he credits to his father's influence:

"I got empathy from him, and this is key for me... I got rid of my ego early. I was a very empathetic person because of my dad, the way he brought me up... Empathy is key because you have to get out of your own way first of all before you can put anything new into your brain."

This empathetic approach enabled Jeff to build lasting relationships with employees. He notes with pride: "I've got people in the companies that I sold... four years back that are still in the company. They're pushing 20 years, some of these people, and I know it had to do with culture, and I know that came from teaching leadership and actually listening to people and caring for where they wanted to go."

His people-first mindset extended to his communication style, guided by a powerful question he would ask himself: "Would you rather be right or successful?" This philosophy helped him avoid the ego traps that derail many entrepreneurs:

"Do you want to spend your time being right, drawing the line in the sand with people in any conversation, even if you have the answer yourself? It doesn't matter. Success matters—your success, your mindset, your family's [success]."

This leadership approach allowed Jeff to gradually remove himself from day-to-day operations. As he built trust with his team and empowered them to take ownership, he could focus on strategic growth:

"Every time I hired somebody, I could step back, step back, step back. It got ridiculous. By the time 2020 came and when I sold [to] private equity, I didn't need to be there, and they knew that."

In fact, Jeff became so effective at removing himself from operations that his team would joke: "Jeff, you quit 10 years ago, but you didn't tell anybody." This is the ultimate achievement for any business owner—creating a company that can thrive without their constant presence.

The Entrepreneur's Growth Journey: From Vision to Exit

Jeff's 30-year entrepreneurial journey demonstrates how personal growth and business development go hand in hand. His story follows a fascinating arc from early struggle to major success and finally to purposeful reinvention.

Finding the Early Vision

Like many entrepreneurs, Jeff's journey began with the realization that he didn't fit the traditional employment mold. Working at a gas plant in his early 20s, he had a moment of clarity:

"I'll never forget sitting at the lunch table with all these other people that were—you could tell—were just unhappy, and that came through with the smoking and the complaining about their family and all this other stuff. And these were young guys, and I thought, 'You're—I'm not going to get caught in that trap.'"

His perspective was further shaped by reading Wayne Dyer's "Pulling Your Own Strings" and Claude Bristol's "Magic of Believing," which helped him realize "you could change your destiny anytime you want."

Rather than having detailed plans, Jeff operated from what he calls "a vision"—a clear mental picture of what he wanted his life to be like:

"I always worked towards this lifestyle in my brain, what it would look like, and nothing was going to stop me from getting there."

The Path to Financial Success

Jeff's approach to growth included several key elements that contributed to his success:

1. Continuous learning and mastermind relationships: He formed a valuable mentoring relationship with Bob Burnham, the franchise owner. "I could talk with him about the books that he's reading, that I'm reading... we had this great mindset, this mastermind." At a time before the internet and coaching programs, "your books were your mentors," and having someone to discuss them with was invaluable.
2. Reinvesting in the business: Even during lean times, Jeff prioritized investing in technology and equipment that would increase profitability. "Every time there was a new piece of technology that came out, I needed it, I wanted it, because I knew [it] could make more money." This reinvestment strategy enabled him to offer more services and increase margins.
3. Finding profitable niches: Beyond basic restoration, Jeff identified specialized services that generated higher returns. "We took the asbestos removal, segway, took that company, learned everything about [it]... and that company blew up. That went from like $500,000 to millions of dollars in asbestos removal, and that was just a niche off the restoration."

His long-term vision eventually manifested in a handwritten goal he'd forgotten about until years later:

"I found that little sheet of paper. It was in my leather daytimer... and we had made that amount of money, and I crossed it out and I put $5 million. And then when I pulled it out again in 2020... I realized that I'd sold my companies for over that."

The Exit and Reinvention

After building his restoration business for 30 years and a second company for five years, Jeff successfully sold to private equity in 2020. But unlike many entrepreneurs who struggle with life after exit, Jeff found a new purpose in coaching other business owners:

"I knew that we had all these locations. This is the perfect time to get out and do what I really want to do, and that's teach other people, be there for other people with an empathetic ear and help people [who've] got so much potential."

At 62, Jeff challenges the conventional retirement narrative. As he puts it: "I'm not going to be the guy that's sitting on the golf course at 63 twiddling my thumbs."

His coaching focuses on helping service-based business owners with the challenges he understands intimately—from finding and motivating employees to managing cash flow and identifying profitable niches. His approach begins with personal foundations:

"First thing I'm going to talk about is, where's your health at? Where are you at? What are your goals for your family? What are your goals for yourself?"

Conclusion: Lessons for Service-Based Entrepreneurs

Jeff McCallum's journey from working at a gas plant to building and selling multi-million dollar service businesses offers valuable insights for entrepreneurs at any stage. His success in "unsexy" industries demonstrates that extraordinary wealth can be created in ordinary businesses when approached with discipline, consistency, and strategic thinking.

Key takeaways from Jeff's story include:

1. Look for opportunity in essential services: Some of the most profitable businesses are in industries people overlook or consider unglamorous. As Jeff's restoration business proved, providing solutions to urgent problems (like water damage) can be extremely lucrative.
2. Develop empathetic leadership: Building a business that can run without you requires creating a culture where employees feel valued and understood. Jeff's empathy-based leadership style helped him retain employees for decades and eventually remove himself from day-to-day operations.
3. Invest in continuous learning: Throughout his career, Jeff maintained a voracious appetite for books and knowledge. "The importance of gobbling books is so important," he emphasizes, along with "getting your ego out of the way and reaching out to the right people."
4. Maintain discipline and consistency: When asked what high performance means to him, Jeff doesn't hesitate: "It is probably boring... but to me, it's discipline and consistency." This steady approach—showing up daily and honoring commitments to yourself—creates compounding results over time.
5. Always be grooming your business for sale: One of Jeff's key pieces of advice is to understand your exit strategy from the beginning. "You should always be grooming it to sell," he advises, noting that many business owners don't realize what their companies are actually worth.

Whether you're currently running a service business or considering entrepreneurship, Jeff's experience shows that with the right mindset and approach, even the most "boring" businesses can create extraordinary financial freedom and personal fulfillment.

As he puts it: "I want to be an example to people... I want to be that example that I'm still pushing at 62." His story proves that success isn't about finding the most exciting business model—it's about bringing discipline, empathy, and continuous improvement to whatever business you choose.