Like most college kids, Mike Malatesta had a job. Mike drove a garbage truck, which ultimately awakened his passion for waste management. He rode his experience and excitement into a top company’s Management Trainee program upon graduation, leading him to five different locations in five years. But after a few years, he was let go and forced to find a new job where he found himself hating his new position.
Mike’s path is similar to many. What’s vastly different is that Mike took his poor situation and turned it into an entrepreneurial success by starting his own company. From zero employees and sales, Mike and his skilled team built a $45 million waste management company that successfully completed 14 acquisitions.
How’d he do it? Organic and acquisitional growth, redefining his self-evaluations, a fantastic executive assistant, and hard work.
Listen to Mike’s journey from a management trainee program to beginning his own $45 million company. You never know, Mike’s words could spark your own ideas.
[01:30] Mike’s Journey
- Drove garbage trucks during college
- Began Management Trainee program after graduation…5 locations, 5 years
- Let go after a few years, hated new job
- Started his own business, surrounded himself with great people
[03:49] Completing 14 Acquisitions
- Started with zero knowledge
- Figured out their business model in 1998
- 50:50…50% Organic Growth, 50% Acquisition
[06:17] Key Indicators for Acquisitions
- Established geographic areas
- Is it beneficial to us and our customers?
- The “I can fix anything” mentality didn’t always work out
- There are lessons to be learned in everything you do
- Matrix Filter
[09:07] First Major Realization
- Took 10 years to realize his self-evaluation was measuring the wrong thing
- Moving the business forward is what success looks like
[10:45] Evolution of Entrepreneurial Growth
- Wrong mind-frame when beginning professional growth exercises
- Key change: hiring an executive assistant
[13:48] Dave’s Deal With Delegating
- Corporate Dave’s delegation was different
- When selling MASSolutions and himself, it’s hard
- Things change when it’s your name and business
[17:19] Mike’s Depth of Control
- “I had too many reports!” About 9-11
- Ideal amount of reports: 4-5
- Progress not perfection
- Set the vision, stay approachable and connectable, be a cheerleader
[20:01] Mike’s Why
- Change the game, industry transformer
- Look, feel, act and perform differently than others in the industry
- Focused on people, production and profits
- Created their own branded language, got massive buy-in
[23:10] Vision With Language
- Sales Reps were Results Advisors
- Earth Conversations NOT sales calls
[25:37] Internal Communication and Messaging
- Going over ‘Why’ over and over
- Emails, phone calls, videos
- Branded trucks
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