Meet Patrick Kelly, Co-Founder and CEO at Signal Advisors:
Born in Singapore and now based in Detroit, Patrick Kelly, CEO of Signal Advisors, shared his unique journey on the Default Global podcast. With a background in lacrosse and an early entrepreneurial spirit, Patrick stumbled into entrepreneurship during an internship at Northwestern Mutual.
His realization that money meant independence has been a driving force, leading him to excel in a challenging niche within financial advising. Co-founding Signal Advisors became a natural progression, highlighting his knack for building successful teams.
Listen Up: Patrick Kelly, Co-Founder and CEO at Signal Advisors — Full Podcast Episode on Spotify
Watch Now: Vit’s In-Depth Talk with Patrick Kelly
Quick Read: Patrick Kelly, Co-Founder and CEO at Signal Advisors, Interview Highlights
In the recent episode of Default Global podcast, I, Vit Koval, had the pleasure of interviewing Patrick Kelly, the Co-founder and CEO at Signal Advisors.
Introduction and Journey to Entrepreneurship
Patrick Kelly, a seasoned entrepreneur, shared his intriguing journey from being a lacrosse player to becoming a CEO. Born in Singapore and raised in Detroit, his early ventures were driven by a desire for independence and autonomy. His entrepreneurial journey began with an internship at Northwestern Mutual, where he discovered a knack for sales and found a specific niche that would later lead to the creation of his first company, RepPro.
Transition from a Job to Entrepreneurship
When asked about the transition from a stable job to entrepreneurship, Patrick emphasised that the fear of failure is often overplayed. He likened the experience to skydiving, where the anticipation is often scarier than the actual event. He also highlighted that entrepreneurship is a game of resilience, where a temporary loss should be seen as a stepping stone to the next win.
First Major Client
Patrick’s first significant client with RepPro was a result of his strategic approach to overcoming a classic chicken-and-egg problem. His team digitised insurance forms and attracted advisors to the platform, which later led to securing partnerships with insurance carriers.
As RepPro began to grow, they tackled the scaling challenge by focusing on both users and insurers. This dual approach helped them overcome the challenges of a high dropout rate, making the business a success.
Decision to Sell RepPro
Selling his first company was a monumental decision for Patrick. He stressed the importance of knowing when to move on to the next venture. In his case, even though RepPro was a viable business, he and his team knew they were ready for a new challenge.
Starting Signal Advisors
With the valuable knowledge gained from RepPro, Patrick started Signal Advisors. The company offers a platform to help independent financial advisors build their own businesses. They provide a range of services, from website building to marketing strategies, all guided by technology.
Remote Work and Team Effectiveness
For Signal Advisors, remote work is crucial. Patrick acknowledged both the advantages and challenges of remote work. For the company, the key to success lies in constant communication, recognition of individual achievements, and annual meetings to reinforce the company culture.
Advice for Aspiring Entrepreneurs
For those in sales aspiring to become entrepreneurs, Patrick stressed the importance of recruiting a good technical co-founder. He believes that this is a crucial step in the journey to entrepreneurship and could potentially determine the success of the venture. He ended the conversation with an encouraging reminder that entrepreneurship, though challenging, is the most rewarding journey one can embark on.